Disbursement of Loan definition

Disbursement of Loan. Proceeds is Bank's Only Responsibility. Bank is not obliged to anyone to ascertain whether Borrower is using the Loan proceeds to pay the costs of constructing the Improvements. Borrower is solely responsible for paying for all labor and materials in connection with the construction of the Improvements whether or not Bank disburses Loan proceeds and whether or not the Loan proceeds are sufficient to pay the costs of construction. Bank's sole obligation is to make Loan disbursements. Borrower and Guarantor agree that they are responsible for repaying all advances made by Bank under this Agreement even if any Advance or Advances were made while there existed a Default under this Agreement or for some other reason Bank was not obligated to make any Advance.
Sample 1
Disbursement of Loan proceeds: COUNTY shall disburse $2,410,250 in Loan proceeds, which is the net amount of Loan proceeds after deducting fees set forth under Section 6.1, to Borrower within two (2) business days after COUNTY draws the funds down from HUD on the HUD Loan subject to Borrower’s compliance with Sections 6.3 and
Sample 1

Examples of Disbursement of Loan in a sentence

  • Disbursement of Loan Money-When federal student loan funds have been disbursed to the college, the student will receive an e-mail notification from the student loan officer.

  • To the extent that Administrative Agent may have acquiesced (whether intentionally or unintentionally) in Borrower’s failure to comply with and satisfy any condition precedent to the Closing or to any Disbursement of Loan Proceeds, such acquiescence shall not constitute a waiver by Administrative Agent of any condition precedent set forth in this Agreement, and Administrative Agent at any time thereafter may require Borrower to comply with and satisfy all conditions and requirements of this Agreement.

  • This Section is intended to cover the rights and obligations of the parties relative to the Disbursement of Loan Proceeds applicable to Lots and Property covered by a specific Mortgage prior to Recordation of such Mortgage and, except as to the provisions hereof relating to commencement of interest, the provisions of this Section shall be deemed canceled and of no further effect upon Recordation of the subject Mortgage.

  • Notwithstanding the foregoing or anything to the contrary contained herein or in any other Loan Document, to the extent that Lender may have acquiesced in noncompliance with any requirements precedent to the Loan Closing Date, or precedent to any subsequent Disbursement of Loan Proceeds, such acquiescence shall not constitute a waiver by Lender, and Lender may at any time after such acquiescence require Borrower to comply with all such requirements prior to any additional Disbursement.

  • To the extent that Lender may have acquiesced (whether intentionally or unintentionally) in the Borrower’s failure to comply with and satisfy any condition precedent to the Closing, to any Construction Disbursement or to any Disbursement of Loan Proceeds, such acquiescence shall not constitute a waiver by Lender of any condition precedent set forth in this Agreement, and Lender at any time thereafter may require the Borrower to comply with and satisfy all conditions and requirements of this Agreement.

  • For each Loan, Borrower shall submit a signed and completed Request for Disbursement of Loan Funds under the Distressed Hospital Loan Program (a “Disbursement Request”), in the form attached hereto as Exhibit C and incorporated herein by reference, submitted to the Lender, who shall forward a copy of the request to HCAI.

  • Lender’s election to make any Disbursement of Loan Proceeds prior to Recordation of such Mortgage shall be in Lender’s sole and absolute discretion and the provisions of this Section shall in no event be deemed to compel Lender to waive any condition to Disbursements under this Loan Agreement, including without limitation, Recordation of the subject Mortgage prior to any Disbursement of Loan Proceeds as to the Initial Disbursements.

  • Table 6.2. Disbursement of Loan by Agrani Bank for Migration Recruiting AgencyNumber of loaneesAmount of loan per personTotal LoanLeasing Garments19845,00089,10,000Golden Contract2435,0008,40,000Betronix3345,00014,85,000Total255-1,12,35,000 Under a special loan scheme of the foreign trade branch, 255 persons were provided loans for their migration to Malaysia.

  • Since the selected features are informative in distinguishing samples from different groups, they can there- fore also be regarded as biomarkers.

  • Disbursement of Loan Proceeds at Origination/Closing Closing Disbursement Authorizers: Administrative Agent is authorized to accept one or more Disbursement Requests from any of the individuals named below (each, a “Closing Disbursement Authorizer”) to disburse Loan proceeds on or about the date of the Loan origination/closing and to initiate Disbursements in connection therewith (each, a “Closing Disbursement”): Individual’s Name Title 1.

Related to Disbursement of Loan

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Term Loan has the meaning specified in Section 2.01(b).

  • 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.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

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

  • Revolving Advance has the meaning given in Section 2.1.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

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

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

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

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • 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.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Tranche B Advance has the meaning specified in Section 2.01(b).

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

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

  • Revolving Advances means Advances made other than Letters of Credit.