Contingency Line Items Sample Clauses
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Contingency Line Items. Subject to the prior written approval of Lender, Borrower may revise the Construction Budget from time to time to move (i) amounts available under any line item for Hard Costs that are designated as “Contingency” to other line items for Hard Costs in the Construction Budget, and/or (ii) amounts available under any line item for Soft Costs that are designated as “Contingency” to other line items for Soft Costs in a Construction Budget provided that Lender may require that Borrower maintain a minimum contingency at all times until Substantial Completion of not less than five percent (5%) of remaining Hard Costs and four percent (4%) of the remaining Soft Costs or such lesser amount that Lender may approve in its sole and absolute discretion.
Contingency Line Items. Provided that no Event of Default has occurred and is continuing, Borrower may revise the Construction Budget from time to time without the prior written consent of Lender to move amounts available under the Contingency to other Line Items for Hard Costs or Soft Costs in the Construction Budget, in the same proportion as the percent of completion of the Project. Any reallocation in excess of the percent of completion of the Project shall be subject to Lender’s prior written consent, in Lender’s sole but good faith discretion.
Contingency Line Items. Borrower may, without Lender’s consent, revise the Project Budget for any Project from time to time to move (i) amounts available under any Line Item for Hard Costs that are designated as “Contingency” to other Line Items for Hard Costs in the Project Budget, and/or (ii) amounts available under any Line Item for Soft Costs that are designated as “Contingency” to other Line Items for Soft Costs in the Project Budget.