Cash Equity. In addition to any other equity or loan to value requirements Borrower shall have provided evidence reasonably satisfactory to Lender that Borrower has invested cash equity in the Development, as determined by Lender, of not less than fifteen percent (15%) of the “as completed” appraised value of the Development as of the date of the initial advance under the Note. Borrower’s equity in the Mortgaged Property, including without limitation its investment in the offsite infrastructure supporting the Mortgaged Property, shall be included in any calculation of the cash equity required by this Section 4.12.
Cash Equity. Agent shall have received evidence satisfactory to it that Borrowers either directly or indirectly through a capital contribution by Parent shall have received an equity investment in Borrowers of at least Eighteen Million Eight Hundred Sixteen Thousand Six Hundred Fifty-Two and 50/100 Dollars ($18,816,652.50) and at least Eighteen Million Forty-Six Thousand Six Hundred Fifty-Two and 50/100 Dollars ($18,046,652.50) of such equity investment shall have been made in cash.
Cash Equity. Section 5.21 (Net Income) of the Loan agreement is hereby deleted and replaced with the following:
Cash Equity. Borrower shall (a) on or before January 31, 2009, provide Bank with a copy of a letter of intent from a proposed investor who is satisfactory to Bank to make a contribution of equity to Borrower in the amount of at least $2,500,000 on terms and conditions satisfactory to Bank, and (b) on or before March 31, 2009, close on such transaction and obtain additional cash equity in the amount of at least $2,500,000.”
Cash Equity. In addition to any other equity or loan to value requirements, as a condition to the initial advance of Loan proceeds, Borrower will have provided evidence reasonably satisfactory to Lender that Borrower has invested cash equity in the Project, as determined by Lender, of not less than fifteen percent (15%) of the “as completed” appraised value of the Project prior to the date of this Agreement (the “Cash Equity”). This requirement has been satisfied.
Cash Equity. Holdings shall have received on or before the Closing Date cash proceeds from the issuance of common stock in an amount not less than fifty percent (50%) of the sum of all of the obligations owing by any Credit Party to the lenders under the Existing Canadian Facility and Holdings, directly or through the US Borrower, shall have advanced such proceeds on or before the Closing Date to the Canadian Borrower in the form of an intercompany loan.
Cash Equity. Lender shall have received satisfactory evidence that Borrower has invested cash equity into the Project in an amount of at least $4,030,000.00.
Cash Equity. See Section 3.01.
