Common use of Construction Loans Clause in Contracts

Construction Loans. Subject to the terms and conditions of this Agreement, and subject to there being no Event of Default (or event which might, with the giving of notice or the passage of time, mature into an Event of Default) hereunder, the Bank agrees to make loans to the Borrower in an aggregate amount not to exceed the lesser of (A) One Hundred Six Million Five Hundred Thousand Dollars ($106,500,000) (the “Total Construction Loan Commitment Amount”) or (B) the amount necessary to construct and open the Restaurants (collectively, the “Construction Loans”).

Construction Loans. Subject to the terms and conditions of this Agreement, and subject to there being no Event of Default (or event which might, with the giving of notice or the passage of time, mature into an Event of Default) hereunder, the Bank agrees to make loans to the Borrower in an aggregate outstanding amount that will not to exceed the lesser of (A) Thirty-Four Million One Hundred Six Million Five Eighty-Three Thousand Nine Hundred Thousand Ninety-Two and 56/100 Dollars ($106,500,00034,183,992.56) (the “Total Construction Loan Commitment Amount”) or (B) the amount necessary to construct and open the Restaurants (collectively, the “Construction Loans”).

Construction Loans. Subject to the terms and conditions of this Agreement, and subject to there being no Event of Default (or event which might, with the giving of notice or the passage of time, mature into an Event of Default) hereunder, the Bank agrees to make loans to the Borrower in an aggregate amount not to exceed the lesser of (A) One Hundred Six Million Five Hundred Thousand Dollars ($106,500,000) (the “Total Construction Loan Commitment Amount”) or (B) the amount necessary to construct and open and/or refurbish the Restaurants (collectively, the “"Construction Loans”).") in an aggregate outstanding amount that will not exceed Five Million and 001100 Dollars ($5,000,000.00) (the "