Disbursement Conditions definition

Disbursement Conditions mean any conditions that must be met prior to:
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Disbursement Conditions all of the following conditions (a) providing Lender with the applicable Disbursement Request in compliance with the provisions hereof which shall be accompanied by (i) a Disbursement Compliance Certificate, and (ii) with respect to the Expansion Loan – the Company’s Confirmation, (b) no Default exists at the time of the Disbursement Request or the applicable Installment Date, (c) no Default shall occur as a result of extension of the applicable Loan, and (d) Lender shall have been provided with all documents (in original form) required for the due registration of all security interest created in relation to the Collateral hereunder, as required to be registered with any applicable Governmental Authority. “Disbursement Request” - a disbursement request in the form attached hereto as Exhibit 1.1(e). Each Disbursement Request: (i) shall be duly executed by the Company’s Chief Financial Officer and shall state the exact amount that the Company wishes to draw, provided that such amount, together with the aggregate amounts previously drawn (whether or not prepaid), shall not exceed the applicable Loan Amount.
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Disbursement Conditions all of the following conditions (a) providing Lender with the applicable Disbursement Request in compliance with the provisions hereof which shall be accompanied by a Disbursement Compliance Certificate, (b) no Default exists at the time of the Disbursement Request or the applicable New Installment Date, (c) no Default shall occur as a result of extension of the applicable New Loan, and (d) Lender shall have been provided with all documents (in original form) required for the due registration of all security interest created in relation to the Collateral hereunder, as required to be registered with any applicable Governmental Authority.
Sample 1

Examples of Disbursement Conditions in a sentence

  • The Grant shall be disbursed to the Beneficiary upon request and subject to the conditions of Article 2.5 (Disbursement Conditions).

  • The Beneficiary must provide each Disbursement Request, together with any evidence required under Article 2.5 (Disbursement Conditions) to the CEB.

  • Upon receipt of the requisite moneys from the County Board to fund the XXX Xxxxx to CPO, the IDA shall, subject to the Disbursement Conditions in Section 6 below, disburse the XXX Xxxxx to CPO pursuant to Section 6.


More Definitions of Disbursement Conditions

Disbursement Conditions means the conditions set out in Section 3.6;
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Disbursement Conditions means the specific conditions to be satisfied with respect to the disbursement of any Reserve Funds pursuant to a Draw Request, which conditions are specified on Exhibit C annexed hereto.
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Disbursement Conditions shall have the meaning ascribed thereto in Section 2 hereof.
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Related to Disbursement Conditions

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below) and, (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage”: shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%.; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • Disbursement is defined in Section 2.6.2.

  • Disbursement Agreement means, on any date, the Disbursement Agreement, as originally in effect on the Closing Date, among the Borrower, Holdings, the Administrative Agent, the Discount Note Indenture Trustee, the Disbursement Agent, the Servicing Agent and the Securities Intermediary and as thereafter from time to time amended, supplemented, amended and restated or otherwise modified.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Specific Conditions means the conditions negotiated and agreed between the Purchaser and the Supplier incorporated into and appearing on the front of the Order including any Specification.

  • Standard Conditions means the “International Bank for Reconstruction and Development and International Development Association Standard Conditions for Grant Financing Made by the Bank out of Trust Funds”, dated February 25, 2019.

  • Product Conditions means these product terms and conditions. These Product Conditions apply to each series of cash settled Warrants over single equities;