Disbursement Loan definition

Disbursement Loan means a Loan the proceeds of which are to be credited to a Builder Account in respect of amounts due to the Builder from the Borrower under the Shipbuilding Contract for Eligible Goods and Services.
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Examples of Disbursement Loan in a sentence

  • Borrower may borrow all or part of the Multiple Disbursement Loan in amounts of not less than Two Hundred Fifty Thousand Dollars ($250,000) in accordance with the terms of a promissory note evidencing such Multiple Disbursement Loan (the "Multiple Disbursement Note").

  • Bank will loan to Borrower an amount not to exceed Ten Million Dollars ($10,000,000) outstanding in the aggregate at any one time (the "Multiple Disbursement Loan").

  • Notwithstanding anything to the contrary contained in this Section 2.F, Lender shall have no obligation to disburse loan proceeds under the North Canton Equipment Disbursement Loan until Congress has evidenced in writing its approval that such North Canton Equipment is "Specific Additional North Canton Equipment" as referenced in the definition of "North Canton Equipment" contained on Rider A hereto.

  • To the extent the seller of the equipment has not already been paid, funds disbursed under the North Canton Equipment Disbursement Loan shall be paid directly to the seller of the equipment to such extent.

  • Simultaneously with the delivery of an Optional Redemption Notice to the Holder hereunder, the Company shall send an Optional Redemption Notice to the holders of each of the other Disbursement Loan Convertible Notes in respect of the applicable principal amount of such Notes.

  • The proceeds of the Revolving Loan shall be used for general working capital purposes and the proceeds of the Multiple Disbursement Loan shall be used to finance capital expenditures and acquisitions.

  • On December 15, 2000, all remaining principal and accrued interest then remaining outstanding under the Multiple Disbursement Loan shall be converted into an additional Term Out Loan.

  • The Company shall not effect any Optional Redemption under this Note unless, contemporaneously with such Optional Redemption, the Company effects an Optional Redemption under all of the other Disbursement Loan Convertible Notes in accordance with the terms thereof, on a pro rata basis, based upon the respective applicable original principal amount of each of the Notes outstanding as of the date the Optional Redemption Notice is delivered to the holders of the Notes.

  • The amount available to be borrowed under the Multiple Disbursement Note shall automatically and without notice to Borrower be reduced by the amount of any disbursement of the Multiple Disbursement Loan evidenced thereby.

  • Bank shall enter the balances of the Multiple Disbursement Loan and Term Out Loan from time to time outstanding in Bank's records, and such entries shall be deemed to be the amount of such Loan from time to time outstanding.

Related to Disbursement Loan

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Disbursement Date is defined in Section 2.6.2.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Disbursement is defined in Section 2.6.2.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Disbursement Period means the period during which Grant Funds may be disbursed.

  • Disbursement Agreement means the Master Disbursement Agreement, dated as of the Closing Date, by and among the Administrative Agent, the Bank Facilities Administrative Agent, the Disbursement Agent, the Borrowers and LCR, in substantially the form of Exhibit D-3 hereto, as the same may be amended, supplemented, amended and restated, or otherwise modified in accordance with the terms hereof and thereof.

  • Disbursement Rate means an annual rate of interest, as of the date of determination, equal to the greater of (a) eight percent (8%) and (b) the per annum rate for ten (10) year U.S. Treasury Obligations as published in The Wall Street Journal plus three hundred (300) basis points; provided, however, that in no event shall the Disbursement Rate exceed eleven and one-half percent (11.5%).

  • Wet Loan means a wet-funded first or second lien Mortgage Loan which is underwritten in accordance with the Underwriting Guidelines and does not contain all the required Mortgage Loan Documents in the Mortgage File.

  • Revolving Advance has the meaning given in Section 2.1.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • 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:

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

  • Disbursement Letter means an instructional letter executed and delivered by Administrative Borrower to Agent regarding the extensions of credit to be made on the Closing Date, the form and substance of which is satisfactory to Agent.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Loan Advance The meaning specified in Section 2.2(a).