Examples of Loan Commitment Amount in a sentence
Confirmation that the sum of the Loan Commitment Amount and the Loan-in-Process Account, if applicable, remaining after each Advance will be enough to complete all the Work.
After the closing date, the Loan Commitment Amount will equal the face amount of the Loan less the total amount of Advances made to date, except that portion of any Advance advanced from the Loan-in-Process Account, if applicable, as may be set forth below.
As of the closing date, Lxxxxx commits to disburse Loan principal in the total Loan Commitment Amount.
If, at any time, the Loan Commitment Amount plus any amount in the Loan-in-Process Account is not enough to pay the amount scheduled for any Advance, Borrower will promptly pay the difference from Borrower’s own funds.
Any Loan Commitment Amount that remains after all Advances have been made will be credited as a partial prepayment of the principal amount of the Loan at the time of the final Advance.