Loan Proceeds Account definition

Loan Proceeds Account means the account designated in the Notice of Borrowing as the account into which the proceeds of the Advances are remitted.

Loan Proceeds Account means the account by that name established and held by the Lender under Section 3.05.

Loan Proceeds Account means the account of the District from which the Loan is to be funded, whether such account is established with the Trustee or otherwise.

Examples of Loan Proceeds Account in a sentence

• 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.

• Not less than 97% of the moneys deposited in and credited to the Note Proceeds Account and Remaining Funding Loan Proceeds Account of the Project Fund representing the proceeds of the Funding Loan, including Investment Income thereon, will be expended for Qualified Project Costs (the “97% Requirement”).

• The amounts on deposit in the Note Proceeds Account and Remaining Funding Loan Proceeds Account of the Project Fund shall not be applied to the payment of Closing Costs.

• The Borrower shall disburse moneys from the Loan Proceeds Account promptly following receipt of Loan proceeds on the Closing Date to pay Delivery Costs upon submission of invoices stating (a) the person to whom payment is to be made, (b) the amounts to be paid, and (c) the purpose for which the obligation was incurred.

• All cash and other Permitted Investments maintained in the Loan Proceeds Account, the Interest Reserve Account, the Construction Disbursement Accounts, the Draw Accounts and the Company Account are owned beneficially by the Borrowers, subject to the security interests created therein by the Collateral Agreement in favor of the Agent for the benefit of the Secured Parties and subject to the terms and conditions of this Agreement and the Account Control Agreements.

More Definitions of Loan Proceeds Account

Loan Proceeds Account means account number [Redacted], in the name of the Agent for the benefit of the Borrowers, established at JPMorgan Chase Bank, N.A., or such account in replacement or substitution thereof.

Loan Proceeds Account shall have the meaning assigned to such term in the Disbursement Agreement.

Loan Proceeds Account means an escrow account with the Escrow Agent into which the proceeds of the New Money Loans shall be deposited and retained subject to withdrawal thereof by the Borrower pursuant to a Withdrawal Notice for use in accordance with the terms hereof and of the Approved Budget or return thereof to the Lenders upon the occurrence of the Maturity Date for any reason whatsoever.

Loan Proceeds Account has the meaning ascribed to it in Annex C.

Loan Proceeds Account means the account established pursuant to Clause 23.6 (Loan Proceeds Account).

Loan Proceeds Account means an escrow account with the Escrow Agent into which the proceeds of the Loans (other than the Effective Date Direct Borrowing) shall be deposited and retained subject to withdrawal thereof by the Borrower (each such event, a “Withdrawal”) pursuant to a Withdrawal Notice for use in accordance with the terms hereof and of the Approved Budget or return thereof to the Lenders upon the occurrence of the Maturity Date for any reason whatsoever.

Loan Proceeds Account means an escrow account with the Escrow Agent into which the proceeds of the Loans made on the Final Funding Date shall be deposited and retained subject to withdrawal thereof by the Borrower pursuant to a Withdrawal Notice in accordance with Section 4.03 and the Escrow Agreement.