Disbursement of the Financing Clause Samples

The "Disbursement of the Financing" clause outlines the process and conditions under which funds will be released to the borrower under a financing agreement. Typically, this clause specifies the timing, method, and prerequisites for disbursement, such as the submission of required documentation, satisfaction of certain conditions precedent, or achievement of project milestones. Its core function is to ensure that funds are only provided when agreed-upon criteria are met, thereby protecting the lender’s interests and ensuring the financing is used appropriately.
Disbursement of the Financing. The Financing will be disbursed in accordance with the payment schedule set forth in Annex II (the “Payment Schedule”). Payments by the Bank will be made only at the request of the Government and upon approval by the Bank. The Government will make, or cause to be made on its behalf, disbursement of amounts requested by the UN Agency within thirty (30) days of receiving the original signed copy of the payment request. The Payment Request template is provided in Annex VI. All payments will be made by wire transfer in United States dollars to the following UN Agency bank account: [ ] The Government will ensure that when making each disbursement of the Financing, the Bank notifies the UN Agency, Division of ___________,(for the Attention __________), by fax (__________) or by e-mail (_____________), of the following: (a) the amount transferred; (b) the value date of the transfer; and (c) that the transfer is from the Bank in accordance with this Agreement. The UN Agency will promptly acknowledge receipt of funds in writing indicating the amount received. Cumulative disbursements of the Financing will not exceed the Total Funding Ceiling unless it is revised through a written amendment approved by the Bank, which approval will be sought and obtained by the Government. UN Agency takes note that the Government’s disbursements under this Agreement are subject, in all respect, to the terms and conditions of the Financing Agreement and no party other than the Government will derive any rights from the Financing Agreement or have any claim to the Financing proceeds.
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Disbursement of the Financing. The Financing will be disbursed in accordance with the payment schedule set forth in Annex II (the “Payment Schedule”). Payments by the Bank will be made only at the request of the Government and upon approval by the Bank. The Government will make, or cause to be made on its behalf, disbursement of amounts requested by the UN Agency within thirty (30) days of receiving the original signed copy of the payment request. The Payment Request template is provided in Annex VI. All payments will be made by wire transfer in United States dollars to the following UN Agency bank account: [ ] The Government will ensure that when making each disbursement of the Financing, the Bank notifies the UN Agency, Division of ___________,(for the Attention __________), by fax (__________) or by e-mail (_____________), of the following: (a) the amount transferred; (b) the value date of the transfer; and (c) that the transfer is from the Bank in accordance with this Agreement. The UN Agency will promptly acknowledge receipt of funds in writing indicating the amount received.
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Disbursement of the Financing. The Financing will be disbursed in accordance with the payment schedule set forth in Annex II (the “Payment Schedule”).
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Related to Disbursement of the Financing

  • Disbursement of the Loan ● Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA. ● Disbursements may be made in increments as needed. ● Other conditions may be imposed by SBA pursuant to general requirements of SBA. ● Disbursement may be withheld if, in SBA’s sole discretion, there has been an adverse change in Borrower’s financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement. SBA Loan #9602737402 Application #3300498906 ● NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD. ● This Loan Authorization and Agreement will be binding upon B▇▇▇▇▇▇▇ and B▇▇▇▇▇▇▇’s successors and assigns and will inure to the benefit of SBA and its successors and assigns.

  • Disbursement to Borrower Borrower may request and receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be re-borrowed.

  • Disbursement of Funds (a) No later than 2:00 p.m. (New York City time) on the date specified in each Notice of Borrowing (including Mandatory Borrowings), each Lender made available its pro rata portion, if any, of each Borrowing requested to be made on such date in the manner provided below; provided that on the Original Closing Date, such funds were made available at such earlier time as may be agreed among the Lenders, the Borrower and the Administrative Agent for the purpose of consummating the Transactions; provided further that all Swingline Loans shall be made available to the Borrower in the full amount thereof by the Swingline Lender no later than 4:00 p.m. (New York City time) on the date requested. (b) Each Lender shall make available all amounts it is to fund to the Borrower under any Borrowing for its applicable Commitments, and in immediately available funds to the Administrative Agent at the Administrative Agent’s Office and the Administrative Agent will (except in the case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings) make available to the Borrower, by depositing to an account designated by the Borrower to the Administrative Agent the aggregate of the amounts so made available in the applicable currency. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so) make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made available such amount to the Borrower, the Administrative Agent shall be entitled to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent in the applicable currency. The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if paid by such Lender, the Overnight Rate or (ii) if paid by the Borrower, the then-applicable rate of interest or fees, calculated in accordance with Section 2.8, for the respective Loans. (c) Nothing in this Section 2.4 shall be deemed to relieve any Lender from its obligation to, fulfill its commitments hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments hereunder).

  • Amendment and Restatement of the Existing Credit Agreement The parties to this Agreement agree that, upon (i) the execution and delivery by each of the parties hereto of this Agreement and (ii) satisfaction of the conditions set forth in Section 3.01, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement. This Agreement is not intended to and shall not constitute a novation. All loans made and obligations incurred under the Existing Credit Agreement which are outstanding on the Effective Date shall continue as Obligations under (and shall be governed by the terms of) this Agreement and the other Loan Documents. Without limiting the foregoing, upon the effectiveness hereof: (a) all references in the “Loan Documents” (as defined in the Existing Credit Agreement) to the “Agent”, the “Credit Agreement” and the “Loan Documents” shall be deemed to refer to the Agent, this Agreement and the Loan Documents, (b) all obligations constituting “Obligations” with any Lender or any Affiliate of any Lender which are outstanding on the Effective Date shall continue as Obligations under this Agreement and the other Loan Documents, (c) the Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Lender’s credit and loan exposure under the Existing Credit Agreement as are necessary in order that each such Lender’s outstanding Revolving Credit Advances hereunder reflect such Lender’s Pro Rata Share of the outstanding aggregate Revolving Credit Advances on the Effective Date, (d) the Existing Revolving Credit Advances (as defined in Section 2.01) of each Departing Lender shall be repaid in full (accompanied by any accrued and unpaid interest and fees thereon), each Departing Lender’s “Commitment” under the Existing Credit Agreement shall be terminated and each Departing Lender shall not be a Lender hereunder, and (e) the Borrower hereby agrees to compensate each Lender (including each Departing Lender) for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurodollar Rate Advances (including the “Eurodollar Rate Advances” under the Existing Credit Agreement) and such reallocation described above, in each case on the terms and in the manner set forth in Section 8.04(c) hereof.

  • Amendment of the Existing Credit Agreement In consideration of the mutual covenants in this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree that, subject to the satisfaction of the conditions precedent set forth in clause 3.1, the Existing Credit Agreement shall, with effect on and from the Amendment Effective Date, be (and it is hereby) amended in accordance with the amendments set out in Schedule 3 and (as so amended) will continue to be binding upon each of the Borrower and the Finance Parties in accordance with its terms as so amended.