Funds to Complete Sample Clauses

Funds to Complete. If it appears at any one time the cost to construct the Improvements ("Construction Costs") will exceed the net amount available from this Loan, the Lender may, at its option, and as a condition of any further advance, require the Borrower upon demand to deposit with the Lender sufficient funds which, together with the net amount available from the Loan proceeds, will be sufficient to pay all Construction Costs.
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Funds to Complete. If Lender estimates, at any time, and from time to time, that the amount necessary to assure final completion of the construction of the Improvements, including but not limited to interest and other soft or non-construction budget items, during the term of the Loan (the "Total Budget") shall exceed the amount of the undisbursed Loan proceeds plus the total amount of all equity investments made or scheduled to be made by Borrower, then Lender shall have the option to require Borrower (a) to immediately deposit with Lender the amount of any such difference, in cash or other form satisfactory to Lender, which amount shall be disbursed toward the Total Budget costs prior to any advance, or any further advance, by Lender under the Loan, or (b) to expend the amount of any such difference for items included in the Total Budget with satisfactory evidence of such expenditure being provided to Lender prior to any advance, or any further advance, by Lender of the Loan funds. Lender shall be assured at all times, to its satisfaction, that the undisbursed Loan funds are sufficient to complete the Improvements in accordance with the Total Budget and in accordance with the Plans and Specifications and this Agreement. Lender reserves the right of continual verification of adequate equity investment made by Borrower as herein set forth. Any deposit made by the Borrower as required by this Agreement shall be disbursed before any or any other Loan disbursements will be made, and shall be advanced as construction progresses. Upon request of Lender, Borrower shall furnish Lender a statement of the amounts remaining to be paid to the Borrower's contractor or contractors for the completion of the Improvements.
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Funds to Complete. (a) Prior to Completion, each Shareholder shall provide (or cause to be provided) Shareholder funding, in proportion to such Shareholder's Pro Rata Share (as defined in Section 2.03), at such times and in such amounts as may be necessary (taking into account all Advances made and those to be made to the Borrower under the Credit Agreement in accordance with the terms thereof) in order to pay when required or due all costs and expenses incurred by or on behalf of the Borrower in connection with the construction, development, design, engineering, acquisition, financing, outfitting, testing, start-up and completion of the Plant, including the cost of Plant equipment and each of the following (such funding being the "FUNDS TO COMPLETE"): (i) all amounts payable by the Borrower to its contractors, suppliers and subcontractors pursuant to the Construction Documents; (ii) the costs and expenses of all engineering, legal, accounting and other professional advisers properly incurred by the Borrower in connection with and attributable to the Plant; (iii) costs of Required Insurance; (iv) administration and maintenance costs incurred during the construction period; and (vi) value-added tax, other taxes and customs charges payable in respect of any of the above.
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Funds to Complete. 3 SECTION 2.02
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Funds to Complete. (a) Prior to Completion, the Shareholder shall provide (or cause to be provided) Shareholder funding, at such times and in such amounts as may be necessary (taking into account all Advances made and those to be made to the Borrower under the Credit Agreement in accordance with the terms thereof) in order to pay when required or due all costs and expenses incurred by or on behalf of the Borrower in connection with the construction, development, design, engineering, acquisition, financing, outfitting, testing, start-up and completion of the Plant, including the cost of Plant equipment and each of the following (such funding being the "FUNDS TO COMPLETE"): (i) all amounts payable by the Borrower to its contractors, suppliers and subcontractors pursuant to the Construction Documents; (ii) the costs and expenses of all engineering, legal, accounting and other professional advisers properly incurred by the Borrower in connection with and attributable to the Plant; (iii) costs of Required Insurance; (iv) administration and maintenance costs incurred during the construction period; and (vi) value-added tax, other taxes and customs charges payable in respect of any of the above.
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Funds to Complete. In the opinion of the Department, the Borrower has sufficient funds to pay all unpaid costs of completing the Project specified in the Project Budget.
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Funds to Complete. In the opinion of the Department, the 9 ----------------- undisbursed amount of the Loan and the total remaining funds available from each Participating Party specified in the Project Budget are sufficient to pay all unpaid costs of completing the Project.
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Related to Funds to Complete

  • Conditions for Advance and Conditions to Closing Section 7.1

  • Advances by Administrative Agent Unless the Administrative Agent has been notified in writing by a Lender prior to the Settlement Date for any Advance or Loan that such Lender will not make the amount constituting its Pro Rata share of such Advance or Loan available to the Administrative Agent on or prior to such applicable Settlement Date, then the Administrative Agent may assume (but shall not be required to assume) that such Lender will make such amount available to the Administrative Agent in immediately available funds on or before such Settlement Date, and in reliance upon such assumption, the Administrative Agent may make available to Borrowers a corresponding amount on behalf of such Lender. If the amount of such Pro Rata share is not made available to the Administrative Agent in immediately available funds by a Lender until after the applicable Settlement Date, then such Lender shall pay to the Administrative Agent on demand and in immediately available funds an amount equal to the result of the following equation (which shall be in addition to the amount of such Lender's Pro Rata share of such Advance or Loan): the product of (a) the average (computed for the period determined under clause (c) below) of the weighted average interest rate for Federal Funds as determined by the Administrative Agent during each day included in such period, multiplied by (b) the amount of such Lender's Pro Rata share of such Advance or Loan, multiplied by (c) a fraction (i) the numerator of which is the number of days that elapsed from and including such Settlement Date to and including the date on which such Lender's Pro Rata share of such Advance or Loan is actually received by the Administrative Agent in immediately available funds and (ii) the denominator of which is 360. A statement from the Administrative Agent submitted to any Lender with respect to any amounts owing under this Section shall be conclusive (absent manifest error) as to the amount owed to the Administrative Agent by such Lender. If such Lender's Pro Rata share is not actually received by the Administrative Agent in immediately available funds within three (3) Business Days after the applicable Settlement Date for such Advance or Loan, then the Administrative Agent shall be entitled to recover from such Lender, on demand, the amount of such Pro Rata share with interest thereon for the entire such period since such Settlement Date at the highest interest rate per annum then applicable under the Facilities.

  • Performance by Administrative Agent If the Borrower or any other Loan Party shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Administrative Agent may, after notice to the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower or such other Loan Party after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Administrative Agent, promptly pay any amount reasonably expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Administrative Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

  • Modifications to Current Agreement The Current Agreement is amended as follows:

  • Conditions Precedent to Disbursement Agency’s obligation to disburse Grant Funds to Grantee under this Grant is subject to satisfaction of each of the following conditions precedent:

  • Conditions Precedent to Each Loan and Each Letter of Credit The obligation of the Lenders to make each Loan and of the Issuing Lenders to issue each Letter of Credit, including the initial Loans and the initial Letters of Credit, is subject to the satisfaction (or waiver in accordance with Section 10.08) of the following conditions precedent:

  • Conditions to Disbursement The obligation of Lender to disburse the proceeds of the Loan shall be subject to satisfaction of each of the following conditions precedent on or before the Closing Date (unless another date is specifically referenced below):

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