Common use of Direct Advances Clause in Contracts

Direct Advances. After the occurrence of an Event of Default, the Lenders may from time to time make Advances for any other costs on the Project Development Budget, regardless of whether the Borrower has submitted a requisition therefor. Such Advances may be made directly to parties to whom such amounts are due or to the Lenders to reimburse the Lenders for sums due to them. All such Advances to parties other than the Borrower shall be deemed Advances to the Borrower hereunder and shall be secured by the Collateral to the same extent as if they were made directly to the Borrower.