Deposit of Funds Advanced. Borrower will immediately deposit all Loan proceeds advanced by Lender in a separate and exclusive account, to be withdrawn and used solely for the purposes permitted under the provisions of this Agreement, and will promptly furnish Lender with evidence thereof.
Appears in 4 contracts
Sources: Loan Agreement (CNL Growth Properties, Inc.), Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp)