Common use of Additional Project Requirements Clause in Contracts

Additional Project Requirements. Lender shall have no obligation to enter any Future Project into the Borrowing Base if (i) there is a continuing Unmatured Event of Default or Event of Default, and/or (ii) if the entry of said Future Project into the Borrowing Base would violate any of the Maximum Aggregate Loan Allocation limitations. In the event Borrower seeks approval of the entry of a Future Project into the Borrowing Base under terms and conditions different from those approval terms set forth herein, then Lender shall review and approve or disapprove of such Future Project pursuant to Lender’s underwriting guidelines in effect at the time of such application for approval.

Additional Project Requirements. Lender shall have no obligation to enter any Future Qualified Project into the Borrowing Base if (i) there is a continuing Unmatured Event of Default or Event of Default, and/or (ii) if the entry of said Future Qualified Project into the Borrowing Base would violate any of the Maximum Aggregate Loan Allocation limitations. In the event Borrower seeks approval of the entry of a Future Qualified Project into the Borrowing Base under terms and conditions different from those approval terms set forth herein, then Lender shall review and approve or disapprove of such Future Qualified Project pursuant to Lender’s underwriting guidelines in effect at the time of such application for approval.

Additional Project Requirements. Lender shall have no obligation to enter any Future Qualified Project into the Borrowing Base if (i) there is a continuing Unmatured Event of Default or Event of Default, and/or (ii) if the entry of said Future Qualified Project into the Borrowing Base would violate any of the Maximum Aggregate Loan Allocation limitations. In the event Borrower seeks approval of the entry of a Future Qualified Project into the Borrowing Base under terms and conditions different from those approval terms set forth herein, then Lender shall review and approve or disapprove of such Future Qualified Project pursuant to Lender’s 's underwriting guidelines in effect at the time of such application for approval.