Utilisation The Loan shall be utilised in full on the Utilisation Date by payment from the Lender to an account nominated by the Borrower.
Costs of Utilisation 8 Interest
Conditions of Utilisation 4.1 Initial conditions precedent
Drawdowns (1) Without HUD approval, the Grantee may draw down HOPE VI Grant funds for a Budget Line Item (BLI) in an amount up to 110 percent of the amount of that BLI that HUD has approved and made available for drawdown.
Delivery of a Utilisation Request The Borrower may utilise the Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time.
Completion of a Utilisation Request (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless: