Common use of Disbursement to the Borrower Clause in Contracts

Disbursement to the Borrower. The disbursement shall be made directly to the Borrower by check. The Lender shall only disburse Loan proceeds upon presentation by the Borrower of a final settlement statement for the Facility.

Disbursement to the Borrower. The disbursement shall be made directly to the Borrower by check. The Lender shall only disburse Loan proceeds upon presentation by the Borrower of a final settlement statement invoices, bills, or other satisfactory proof of payments to reimburse the Borrower for the Facilitypayments made for Eligible Project Costs.