Example ContractsClausesFunding Notice; Funds Disbursement Instructions
Funding Notice; Funds Disbursement Instructions
Funding Notice; Funds Disbursement Instructions contract clause examples

Disbursement of Funds. No later than 1:00 P.M. (Omaha time) on the date specified in each Notice of Borrowing, Lender will make available such Borrowing requested to be made on such date. All such amounts will be made available in Dollars and in immediately available funds by deposit into the Primary Concentration Account, or as otherwise directed by Borrower.

No later than 10:00 a.m. (New York City time) on the date of the Borrowing or such earlier time as may be agreed among the Lenders, the Borrower and the Administrative Agent for the purpose of consummating the Transactions each Lender will make available its pro rata portion of each Borrowing requested.

Section # Funding Obligations; Disbursement of Funds.

Notice and Disbursement. At the Closing, Borrower shall notify Agent in writing of the desired Funding Date of the Initial Loan, which notice shall be irrevocable and shall be substantially in the form of Exhibit F hereto (“Notice of Advance Request”). When Borrower desires to make the Additional Loan, Borrower shall deliver a Notice of Advance Request to Agent at least fifteen (15) Business Days in advance of the desired Funding Date of the Additional Loan, which notice shall be irrevocable. ’ obligation to make Loans shall be subject to the satisfaction of the conditions set forth in Section 4.01. shall have the right to request that Borrower furnish with such additional information with respect to the Loan and the satisfaction of the conditions set forth in Section 4.01, as shall reasonably request. Subject to the satisfaction of the conditions set forth in this Agreement which shall be confirmed to Agent and the in writing as of the date of funding, each Lender shall disburse its pro rata portion of each Loan to the account of Borrower specified in [Schedule 2].

Upon receipt of your confirmation that you are in possession of the original mortgage note evidencing the Mortgage Loan, Lender will remit to you, by wire transfer, immediately available funds in the approximate amount of ​ (the “Funds”), which you are to hold in trust for Lender until written or oral instructions to disburse the funds are obtained from the Borrower, at which time you may disburse the Funds in accordance with such instructions. Once you have received instructions from Lender to disburse the Funds to close the Mortgage Loan, please advise Lender via e-mail at of the fact of such disbursement immediately upon making such disbursement.

Disbursement. On the Closing Date, assuming all of the terms and conditions set forth in Section 3.2 have been satisfied by the Company and the Company has executed and delivered to each of the this Agreement and any other related documents in form and substance reasonably satisfactory to the , each Purchaser shall disburse to the Company in immediately available funds the Subordinated Note Amount set forth on each Purchaser’s respective signature page hereto in exchange for an electronic securities entitlement through the facilities of DTC in accordance with the Applicable Procedures in the Subordinated Note with a principal amount equal to such Subordinated Note Amount (the “Disbursement”). The Company will deliver to the Paying Agent a global certificate representing the Subordinated Notes (the “Global Note”) registered in the name of Cede & Co., as nominee for DTC.

The Facility Agent shall:

If the Funds cannot be or are not disbursed for any reason on or before 4:30 p.m. Eastern Time on the date of Closing, you shall advise Lender immediately by telephone that disbursement has not occurred and the Funds must be returned immediately to Lender at the wiring instructions in the attached [Schedule B] to this letter.

Disbursement Procedures. Each Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. Such Issuing Bank shall promptly notify the Administrative Agent and by telephone (confirmed by telecopy or electronic mail) of such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve of its obligation to reimburse such Issuing Bank and with respect to any such LC Disbursement.

Closing Instructions. Prior to the first Advance hereunder (if any) for the purchase of a Participation Interest in any [[Organization B:Organization]] Originated Mortgage Loan, [[Organization C:Organization]] shall have received a copy of, and approved in writing, [[Organization B:Organization]]’s standard form of closing instructions letter (such form of closing instructions letter which has been approved by [[Organization C:Organization]] in writing is referred to herein as the “Approved Closing Instructions Form”). In connection with the closing of each Participated Mortgage Loan (that is a [[Organization B:Organization]] Originated Mortgage Loan) [[Organization B:Organization]] shall deliver a closing instructions letter to the applicable Escrow Agent which is in all material respects consistent with the Approved Closing Instructions Form and [[Organization B:Organization]] shall have obtained a copy of such closing instructions agreed to by such Escrow Agent.

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