Sanctioned Amount definition

Sanctioned Amount means the amount made available by the Lender for disbursal to the Borrower as Loan;
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Examples of Sanctioned Amount in a sentence

  • Upon the representation and information provided by the Borrower in the application for the loan made to the ABFL, the ABFL hereby agrees to lend to the Borrower the Sanctioned Amount for the purpose here in above.

  • The Lender has accepted the request and sanctioned the Sanctioned Amount by Sanction Letter dated as mentioned in Schedule.

  • To execute money bond or a demand promissory note and a letter of continuity in favour of the Lender for the Sanctioned Amount of the Loan.

  • Provided that in the event the Lender reduces or increases the Rate of Interest prior to the disbursement of the entire Sanctioned Amount, the applicable Rate of Interest shall be varied on weighted average basis with reference to the tranches disbursed / to be disbursed.

  • Further, the request submitted by the Borrower to the Lender seeking disbursement of whole or any part of the Sanctioned Amount (“Disbursement Request Form”) shall be irrevocable and shall commit the Borrower to borrow in accordance with the Disbursement Request Form.