Common use of Borrower Required to Pay Costs in Event Project Fund Insufficient Clause in Contracts

Borrower Required to Pay Costs in Event Project Fund Insufficient. If moneys in the Project Fund are not sufficient to pay all Project Costs, the Borrower nonetheless shall complete the Project in accordance with Exhibit B attached hereto and shall pay all such additional Project Costs. The Borrower shall not be entitled to any reimbursement for any such payments from the Issuer, the Trustee, the Bank, the Participating Bank or any Holder; nor shall it be entitled to any abatement, diminution or postponement of the Loan Payments.

Appears in 2 contracts

Samples: Loan Agreement (Brazos Sportswear Inc /De/), Loan Agreement (Neose Technologies Inc)

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Borrower Required to Pay Costs in Event Project Fund Insufficient. If moneys In the event that money in the Project Fund are is not sufficient to pay all Project Costscosts of providing the Project, the Borrower nonetheless shall shall, nonetheless, complete the Project in accordance with Exhibit B attached hereto and shall pay all costs of such additional Project Costscompletion in full from its own funds. The Borrower shall not be entitled to any reimbursement for any such payments completion costs from the Issuer, the Credit Enhancer or any Trustee, the BankRegistrar or Paying Agent, the Participating Bank or any Holder; nor shall it be entitled to any abatement, diminution or postponement of the Loan Payments.

Appears in 2 contracts

Samples: Loan Agreement (RBC Bearings INC), Loan Agreement (Bremen Bearings Inc)

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Borrower Required to Pay Costs in Event Project Fund Insufficient. If moneys in the Project Fund are not sufficient to pay all Project Costscosts of the Project, the Borrower nonetheless shall Borrower, nonetheless, will complete the Project in accordance with Exhibit B attached hereto the Plans and Specifications, and shall pay all such additional costs of the Project Costsfrom the Borrower's own funds. The Borrower shall not be entitled to any reimbursement for any such payments additional costs of the Project from the IssuerAuthority, the Trustee, the Bank, the Participating Bank Trustee or any HolderOwner; nor shall it be entitled to any abatement, diminution or postponement of its obligation to make the Loan Payments.

Appears in 1 contract

Samples: Loan Agreement (Dynagen Inc)

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