Disbursements of Proceeds. Any Loan disbursement made under this Agreement shall be conclusively presumed to have been made to and for the benefit of Borrower whenever the proceeds of such disbursement are either (a) disbursed in accordance with the terms of this Agreement, (b) disbursed in accordance with instructions from Borrower or any of Borrower's authorized employees or agents, or (c) deposited into any demand, savings, or other account maintained by Borrower with Lender.
Appears in 3 contracts
Sources: Agricultural Loan Agreement (Citadel Holding Corp), Agricultural Loan Agreement (Citadel Holding Corp), Agricultural Loan Agreement (Citadel Holding Corp)