Common use of Contingency Line Items Clause in Contracts

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. 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.or