Define: Loan Proceeds
Loan Proceeds means the funds disbursed to the borrower according to an agreement or as part of a loan.
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Loan Proceeds means the funds disbursed to the borrower according to an agreement or as part of a loan.
Relevant Circumstances
- When funds drawn down under a facility need to be applied to specific purposes
- If the lender restricts use of loan proceeds via the loan agreement
- Where misapplication of proceeds is a default event