Borrower Loan Proceeds definition

Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with Section 2.10 of this Borrower Loan Agreement and the Construction Funding Agreement.
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Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with the Construction Funding Agreement, Section 2.11 of this Borrower Loan Agreement, and Section 7.7 of the Funding Loan Agreement.
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Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with Section 2.10 of this Borrower Loan Agreement, and the Construction Disbursement Agreement.
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Examples of Borrower Loan Proceeds in a sentence

  • Upon receipt from the Borrower of the certificate specified in Section 3.4 and a final requisition detailing all retainages to which the Borrower is then entitled, the Department, to the extent approved by the Department and subject to the provisions of this Section and Section 3.4, will disburse to or for the account of the Borrower Loan Proceeds to the extent of such approval.

  • Upon receipt of a Draw Request to pay for Project Costs from the Borrower and the approval thereof by the Lender, the Lender shall disburse to, or for the account of, the Borrower, Loan Proceeds to pay Project Costs in accordance with the Draw Request.

  • Any Borrower Loan Proceeds previously disbursed to the Borrower in excess of the Permanent Period Amount shall be paid by the Borrower to the Funding Lender.

  • Subject to the terms and conditions of this Agreement and the other Loan Documents, Lender agrees to advance to Borrower Loan Proceeds in an amount equal to Two Hundred and Twenty-Five Thousand and No/100 Dollars ($225,000.00) (the “Loan Amount”).

  • Subject to the terms and conditions of this Agreement and the other Loan Documents, Lender agrees to advance to Borrower Loan Proceeds in an amount equal to One Million and No/100 Dollars ($1,000,000.00) (the “Loan Amount”).

  • Funding Lender shall not be required to Disburse any Borrower Loan Proceeds at any time that Borrower has failed to deposit all Borrower's Funds required under Section 8.1. Any unexpended Borrower's Funds allocated to a line item in the Cost Breakdown shall be disbursed prior to any Disbursement for that line item.

  • The use of any Borrower's Funds or Borrower Loan Proceeds for any purpose other than payment of costs approved by Funding Lender pursuant to this Borrower Loan Agreement.

  • SETTLEMENT STATEMENT AND TIL TOLERANCE E.1 RESPA E.2 Lender Approval E.3 Allowable Closing Costs and Deposit Disclosures E.4 Borrower Loan Proceeds E.5 Seller Proceeds E.6 Payoffs E.7 Good Faith Estimate at Closing E.8 Escrow Accounts E.9 Fees and Charges E 10 Closing Cost Credits E.11 Mortgage Broker Compensation E.12 Settlement Agent Fees F.

  • The proceeds of the Loans available to be advanced to Borrower ("Loan Proceeds") are the original principal amount of the Notes less closing costs and expenses set forth in a loan closing statement prepared in connection with the Loans, subject, however, to the provision of Section 4.4 of this Agreement, below.

  • Within ten (10) business days after delivery of such notice, but in no event later than the Outside Conversion Date (or, if applicable, the Extended Outside Conversion Date), the Funding Lender shall disburse Borrower Loan Proceeds to the Borrower so that the aggregate principal amount of the Borrower Loan disbursed equals the Permanent Period Amount.


More Definitions of Borrower Loan Proceeds

Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with the Construction Funding Agreement, Section 2.11 of this Borrower Loan Agreement, and Section 7.7 of the Funding Loan Agreement. Borrower Note” shall mean that certain Multifamily Note dated as of the Closing Date in the original maximum principal amount of $[ ] made by the Borrower and payableto the Governmental Lender, as endorsed and assigned to the Fiscal Agent, as it may be amended, supplemented or replaced from time to time.
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Borrower Loan Proceeds means an amount not to exceed $[9,500,000] to be paid or provided by the Issuer to the Borrower as the Borrower Loan.
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Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with Articles V and VI hereof.
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Related to Borrower Loan Proceeds

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Borrower Loan Agreement means the Borrower Loan Agreement, of even date herewith, between the Governmental Lender and the Borrower, as supplemented, amended or replaced from time to time in accordance with its terms.

  • Borrower Loan Documents shall have the meaning given such term in the Borrower Loan Agreement.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following: