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.

  • Such System Records shall be audited annually in accordance with generally accepted auditing standards if the total Disbursement of Loan Proceeds exceed $25,000 for the Municipalities fiscal year.

  • IFATCA agreed to present more detailed information for the next meeting on both subjects.

  • Post-Withdrawal Disbursement of Loan FundsA post-withdrawal disbursement of loan funds may be paid if the student is eligible to receive the funds.

  • Maintains knowledge of people manager practices, Human Capital trends and organisational policies to provide customer focused People Technology Solutions that drive efficiencies and productivity.

  • Disbursement of Loan, Supervision and Recovery of Loan, Latest Progress.

  • 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.

  • Gairloch was built as a summer home that suggested “Englishness” in the style of the Arts and Crafts movement.

  • Section 2.4 Conditions Precedent to Disbursement of Loan Proceeds.

  • Disbursement of Loan Proceeds ...........................................................................................

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 as defined in Section 2.1.

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

  • 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.

  • 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.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.