Subsequent Disbursements definition

Subsequent Disbursements have the respective meanings set forth in Section 2.2(b).

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Subsequent Disbursements are defined in Section 13.5.

Subsequent Disbursements means, collectively, the Second Disbursement and the Third Disbursement.

Examples of Subsequent Disbursements in a sentence

• Disbursement Requests for Subsequent Disbursements to be deposited into an account at ▇▇▇▇▇ Fargo Bank, N.A. must specify the amount and applicable account.

• The Sponsor shall provide to or at the direction of the Custodian the funds necessary to make any such Subsequent Disbursements, and the Sponsor, if requested by the Custodian, hereby agrees make such disbursements directly to the applicable educational institution as the delegee of the Custodian.

• The Sponsor shall sell to the Department Class A Participation Interests in the Purchased Eligible Loan with respect to the initial disbursement and such Subsequent Disbursements.

• Upon the purchase by the Department of additional Class A Participation Interests in Purchased Eligible Loans, the aggregate outstanding principal balance of the Class A Participation Interests evidenced by the Class A Participation Certificate shall be increased by the Purchase Price with respect to each such additional Purchased Eligible Loans, and any Subsequent Disbursements.

• This Subsequent Disbursement Note evidences all Subsequent Disbursements made by the Holder under the Facility Agreement and the Holder’s interest in the Subsequent Disbursements.

• Section 3.1 of the Original Agreement shall be amended in its entirety to read as follows: “Initial and Subsequent Disbursements.

• Direct Deposit: Disbursement Requests for Subsequent Disbursements to be deposited into an account at ▇▇▇▇▇ Fargo Bank, N.A. must specify the amount and applicable account.

• Disbursement Requests for Subsequent Disbursement(s) to be deposited into an account at W▇▇▇▇ Fargo Bank, National Association must specify the amount and applicable account.

• Notwithstanding the foregoing, if the aggregate outstanding principal amount of the Subsequent Disbursements made by the Holder to the Borrower is actually more than the amount set forth on Schedule I attached hereto, such actual amount shall control and instead be the amount that applies pursuant to clause (ii) in the immediately preceding sentence.

• No event or condition exists or will exist after giving effect to the Closing of the Loan, the Initial Construction Disbursement or Subsequent Disbursements which constitutes an Event of Default or Potential Default.

More Definitions of Subsequent Disbursements

Subsequent Disbursements. The remainder of the Loan Proceeds and Borrower's Funds in the sum aggregate of $13,040,321.30 plus funds not disbursed as provided for in Section I hereof or less any additional funds disbursed as provided for in Section I hereof, shall be disbursed in conformity with the following paragraphs which are indicated by X: /X/ A. On or about the first day of each calendar month following commencement of construction of the Improvements, Contractor shall submit to Borrower or Borrower's Architect, a Certified Invoice showing the estimated cost of labor performed on and materials incorporated into the improvements, a pro-rata portion of the General Contractor's profit and that pro-rata portion of overhead of General Contractor attributable to the construction of the Improvements. The original of such Certified Invoice, certified true and correct by the General Contractor and approved by Borrower or Borrower's Architect, shall be submitted to Bank for payment. Upon verification of the accuracy of the Certified Invoice by Bank inspection of the Property and Improvements, Bank shall disburse to General Contractor, Borrower or Subcontractors, laborers and materialmen (at Bank's option as to whom and the amounts payments are made) 100% of the amount of the respective Approved Certified Invoice but in no event shall the aggregate of such payments exceed the sum of $5,190,480.00 except as provided for by Borrower and accompanied by funds for the payment thereof. The Final Disbursement in the sum of $576,720.00 shall be made upon compliance with the provisions of paragraph 6.3 of the Building Loan Agreement.

Subsequent Disbursements means First Subsequent Disbursements and/or Second Subsequent Disbursements, as the context may require.