Examples of Borrower’s Account in a sentence
The Borrower does hereby separately covenant that if for any reason RD fails to provide the Permanent Financing by accepting delivery thereof on or before the Maturity Date, the Borrower shall continue to pay interest on the Loan at the rate set forth in Section 3.2 from amounts in its Borrower’s Account or its own funds, as determined by the Agency, and if RD has not purchased the Permanent Financing by the Maturity Date, the Borrower shall pay the Loan in full on such date.
The Agency does not make any warranty, either express or implied, that the moneys that will be paid into the Borrower’s Account, under the provisions of this Loan Agreement, will be sufficient to pay all of the cost of the Project.
The proceeds of the Loan shall be deposited in a Borrower’s Account established for the Borrower with the Trustee.