Examples of Loan Proceeds Account in a sentence
Construction Consultant shall have the right to observe the progress of such work, and to request such additional information as it would have had the right to request in connection with a Disbursement Request for funds from the Loan Proceeds Account.
Subject to Sections 3.5 and 4.1.3, the Disbursement Agent shall disburse or cause to be disbursed funds from the Loan Proceeds Account in accordance with Disbursement Requests after approval thereof in accordance with the terms hereof and only upon satisfaction (or waiver by the Agent) of the applicable conditions to disbursement set forth herein.
On the first Business Day after each anniversary of this Agreement, the Disbursement Agent shall transfer the fees and any other amounts scheduled to be paid under the Agency Fee Letter from the Loan Proceeds Account directly to the Disbursement Agent (with concurrent notice of such payment to the Borrowers), which amount shall constitute compensation for services to be performed by the Disbursement Agent during such year.
Such Notice of Borrowing shall specify (i) the aggregate principal amount of the Loans to be made, (ii) the proposed date of the Borrowing (which shall be a Business Day) and (iii) that the proceeds of the Loans shall be disbursed directly into the DIP Term Loan Proceeds Account.
The Agent shall cause any investment income or interest received from amounts on deposit in the Loan Proceeds Account and the Interest Reserve Account to be deposited in the Company Account on the 10th day of each month (or if such 10th day is not a Business Day, the next succeeding Business Day).