Borrower’s Funds. Borrower represents, warrants and covenants to Lender that:
Borrower’s Funds. Borrower represents, warrants and covenants to each Lender and the Administrative Agent that:
Borrower’s Funds. The words "Borrower's Funds" shall mean and refer to the Borrower's: (i) cash or proceeds other than received from the Lender, (ii) other available funds shown on Borrower's application relied upon by the Lender, and (iii) portion of the Real Property sales price or Costs which are scheduled to be paid by Borrower from other funds set aside and committed, in an amount satisfactory to the Lender.
Borrower’s Funds. All funds of Borrower deposited into Borrower’s Funds Account pursuant to the terms of this Agreement, to be disbursed in payment of Construction Costs as more particularly set forth in this Agreement.
Borrower’s Funds. Any money required in excess of the Loan proceeds to fully pay all Costs of Construction is to be provided by Borrower (“Borrower’s Deposit”). Prior to the Closing Date, Borrower shall provide to Lender (a) evidence satisfactory to Lender that such money is available for payment of such costs and/or (b) copies of paid receipts evidencing payment by Borrower of such costs in an amount such that the remaining Costs of Construction after the Closing Date will not exceed the Loan proceeds available pursuant to the Approved Project plus any money available under clause (a) above. After the Closing Date, if the aggregate amount of Costs of Construction increases, Borrower shall provide to Lender either (a) satisfactory evidence that money required in excess of the Loan proceeds to fully pay Costs of Construction is available for payment of such costs or (b) such money shall be actually deposited by Borrower with Lender and advanced by Lender prior to the advance of any Loan proceeds hereunder. The amount of Borrower’s initial equity contribution, if any, is set forth in Exhibit C attached hereto. Notwithstanding any provisions to the contrary contained herein, at no time shall Lender be obligated to make any advance hereunder if, in Lender’s reasonable judgment, it appears that for any reason the remaining undisbursed Loan proceeds will be insufficient to complete construction of the Improvements in accordance with the Plans and to pay for all Costs of Construction to be incurred by Borrower until Borrower deposits with Lender such additional cash or liquid collateral as, in Lender’s reasonable judgment, will be sufficient to complete and fully pay the Costs of Construction. Borrower shall deposit such additional money with Lender into an interest bearing custodial account held by Lender (or provide evidence satisfactory to Lender of the availability of such additional funds) within seven (7) days after its receipt of Lender’s written demand therefor. Any money deposited by Borrower with Lender pursuant hereto shall constitute additional collateral for the Loan and shall be advanced prior to the Loan proceeds unless Lender in its sole discretion determines otherwise.
Borrower’s Funds. At the time and in amounts required by Bank, Borrower shall deposit Borrower’s Funds into the Borrower’s Funds Account. Should it appear at any time in Bank s judgment that the sum of undisbursed proceeds of the Loan and the then balance of the Borrower’s Funds Account are insufficient to provide the financing for completion of the Improvements, Borrower shall pay to Bank, within ten (10) days following receipt of written demand by Bank, an amount equal to such deficiency for deposit into the Borrower’s Funds Account.
Borrower’s Funds. (a) Borrower represents, warrants and covenants to Administrative Agent and each Lender that it has taken, and shall continue to take until after the Loan is fully repaid, such measures as are required by law to assure that the funds invested in the Borrower and/or used to make payments on the Loan are derived (a) from transactions that do not violate United States law nor, to the extent such funds originate outside the United States, do not violate the laws of the jurisdiction in which they originated; and (b) from permissible sources under United States law and to the extent such funds originate outside the United States, under the laws of the jurisdiction in which they originated.
Borrower’s Funds. At the time and in amounts required by Bank, deposit Borrower's Funds in the borrower's funds, Building Loan Account. Borrower's funds shall be disbursed from such account in the manner provided in paragraph 6 herein. Should it appear at any time that the total funds then held by Bank are insufficient, in Bank's reasonable judgment, to provide the financing for the completion of the Improvements. Borrower, within ten (10) days following receipt of written demand by Bank for additional funds, shall pay to Bank an amount equal to such deficiency as expressed in said demand for deposit in the Borrower's Funds, Building Loan Account.
Borrower’s Funds. 14.2.1 Each Borrower represents, warrants and covenants to Administrative Agent and the Lenders that it has taken, and shall continue to take until the Loans are fully repaid, such measures as are required by law to assure that the funds invested in such Borrower and/or used to make payments on the Loans are derived (a) from transactions that do not violate U.S. law nor, to the extent such funds originate outside the United States, do not violate the laws of the jurisdiction in which they originated; and (b) from permissible sources under U.S. law or to the extent such funds originate outside the United States, under the laws of the jurisdiction in which they originated.
Borrower’s Funds. At the time and in amounts required by Bank, Borrower shall deposit Borrower’s Funds into the Borrower’s Funds Account. Should it appear at any time in Bank’s judgment that the sum of undisbursed proceeds of the Borrower Loan and the then balance of the Borrower’s Funds Account are insufficient to provide the financing for completion of the Improvements, Borrower shall pay to Bank, within ten days following receipt of written demand by Bank, an amount equal to such deficiency for deposit into the Borrower’s Funds Account, unless Bank, in its sole and absolute discretion, agrees in writing to an adjustment to the Project Budget that brings the Borrower Loan into balance and is otherwise satisfactory to Bank.
