Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 2
- Loan Proceeds means all received funds and fees or charges related to any or all loans, including sales or refinancing proceeds.
Relevant Contract Type
Relevant Circumstances
- Commencement of a credit agreement
- Refinancing a loan or mortgage
- Any transaction involving loan disbursement and repayment
Relevant Sectors
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Loan Proceeds means the funds disbursed to the borrower according to an agreement or as part of a loan.
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