Disbursement Order definition
Examples of Disbursement Order in a sentence
Disbursement Order – a payment order or freeform request for a transfer of funds, signed and formatted in form and substance satisfactory to the Bank.
If the amount on the Disbursement Order is more than the final balance owing, no interest will be paid by ANZ on the amount refunded.
The party who provides a Disbursement Order to the Escrow Agent shall simultaneously provide a copy of such Disbursement Order to the other party.
Lender shall have received payment of the Loan Fee and all other fees due Lender from Borrower, all in the amounts set forth in the Disbursement Order, which fees shall include, without limitation, the fees of Lender’s inside and/or outside counsel, all appraisal and review appraisal expenses, all environmental expenses, and those certain closing, recording and title costs payable in connection with the Loan.
Where a Disbursement Order includes an amount to pay out an existing ANZ account in your name, the amount specified on the Disbursement Order may not be the final balance owing on that account.
Borrower shall indemnify and hold Lender harmless from and against any and all charges, commissions, fees, costs and/or expenses charged by any broker identified on the Disbursement Order, if any, and from and against any and all loss, damage, liability and expense, including costs and attorneys’ fees, which Lender may incur or sustain by reason of or in connection with respect to the foregoing.
The Loan shall be disbursed in accordance with the Disbursement Order executed by Borrower, and the entire Loan proceeds shall be disbursed at the Closing Date in accordance with the terms and conditions of this Agreement.
For purposes of this Agreement, an "Outstanding Claim Amount" means a Claim Amount which is set forth in a BEA Notice with respect to which no disbursement has yet been made; and an "Arbitration Disbursement Order" means a written determination made by the Board (as defined below) with respect to a Claim Amount directing that a disbursement be made from the Escrowed Funds to BEA or (after the Termination Date) Seller, as the case may be.
Upon the closing of this Loan and the payment of all prior liens against the Property (collectively “Prior Liens”) as set forth in the Disbursement Order, Borrower shall provide evidence in form and content satisfactory to Lender that all Prior Liens have been paid in full such that no unpaid principal, interest, late charges or other costs and expenses remain on such Prior Liens from and after the Closing Date.
However if you wish ANZ to pay money elsewhere, or if there are fees or expenses for the facility at the time the facility proceeds are paid, you must complete a Disbursement Order which tells ANZ to whom and in what amounts your facility is to be paid.