Disbursement of the Loan definition
Examples of Disbursement of the Loan in a sentence
The first interest payment shall be made on the first Interest Payment Date after the Disbursement of the Loan.
Disbursement of the Loan will be made, into the account of Borrower maintained with PNC Bank (the “Account”), unless otherwise directed by Borrower in writing.
Before any Disbursement of the Loan, the Borrower shall conduct a title search of the Property offered as Security, at its cost and shall submit to the Lender such title search to the satisfaction of the Lender.
Such front-end commission shall be due and payable not later than three (3) Business Days prior to the first Disbursement of the Loan or thirty (30) Business Days after the date of this Agreement, whichever is earlier.
Disbursement of the Loan shall be governed by the Budget for the Project, in form and substance acceptable to Agent in Agent’s reasonable discretion.
Each agreement, representation, warranty and covenant contained or referred to in this Agreement shall survive any investigation at any time made by OPIC and shall survive the Disbursement of the Loan, except for changes permitted hereby, and, save as otherwise provided in Sections 2.11 and 9.10, shall terminate only when all amounts due or to become due under this Agreement and the Notes are paid in full.
Subject to the satisfaction of the conditions set forth in Articles 4 and 5, the Borrower may request a Disbursement of the Loan by delivering a Disbursement Request to OPIC not less than ten (10) Business Days prior to the Closing Date.
The base interest rate for each Disbursement of the Loan shall be a per annum rate equal to the London Inter-Bank Offered Rate (“LIBOR”) for a one-year deposit in U.S. dollars, as published by the Wall Street Journal (or if the Wall Street Journal is not available, a comparable source) on the date of the applicable Disbursement to Loan Recipient, plus two percent (2%) (the “Base Rate”).
Disbursement of the Loan shall be governed by the Budget for the Project, in form and substance acceptable to Lender in Lender's reasonable discretion.
Amounts shall be transferred into the Project Loan Account and disbursed to the Governmental Agency upon receipt of a “Request for Reimbursement”, as described below, executed by an Authorized Officer, and approved by the Authority and the State Department of Public Health and Environment; provided that the Disbursement of the Loan may be withheld if the Governmental Agency is not complying with any of the covenants and conditions in the Loan Agreement.