Improvement Advances Sample Clauses

Improvement Advances. At any time during that portion of the Term commencing on the Commencement Date and expiring June 30, 1998, Landlord agrees to advance to Tenant, from time to time, as hereinafter provided, an aggregate amount of up to Two Million Five Hundred Thousand Dollars ($2,500,000) for the purpose of making Capital Additions and Non-Capital Additions to the Collective Lease Properties. The obligation of Landlord to make each advance pursuant to this Section 6.5 shall be subject to the prior or simultaneous satisfaction of the following conditions:
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Improvement Advances. (a) Notwithstanding any other provision to the contrary contained herein, Borrowers agree to borrow from the Banks, and the Banks agree to lend to Borrowers, Improvement Advances in an amount not to exceed the Improvement Amount on the terms and subject to the conditions of this Agreement; provided, that, the Banks shall have the sole and absolute discretion to determine whether or not to make any Improvement Advance based upon the nature of the Improvement Project that such Improvement Advance shall be used to fund.
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Improvement Advances. The making of any Additional Advance under this Agreement constituting an Improvement Advance is, in addition to the conditions precedent specified in Section 7.1 and Section 7.5, subject to the fulfillment of the following conditions precedent:
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Improvement Advances. Except as otherwise set forth in this paragraph, LESSEE hereby covenants with LESSOR that LESSEE shall promptly and fully pay for all costs and expenses incurred in connection with the Work. LESSOR shall contribute to a portion of the cost of the Work in an amount not to exceed $1,888,250.00 (the "Allowance"). If the cost of the Work exceeds the Allowance, then LESSEE shall be responsible for and pay such excess. Subject to the conditions contained herein, portions of the Allowance may be advanced to LESSEE on and after _______________, 2004, as the Work is completed (each, an "Improvement Advance"). LESSOR shall not be required to make more than one Improvement Advance in any one calendar month, and the Improvement Advances shall be in amounts determined by LESSOR. The proceeds of the Improvement Advance shall be applied solely and exclusively towards the construction of the Work in accordance with the Plans. The Improvement Advances are intended to be disbursed in accordance with the budget and construction schedule to be approved hereafter by the parties and to be attached hereto and made a part hereof as Exhibit B-2. To request an Improvement Advance, LESSEE shall submit to LESSOR, on a form reasonably required by LESSOR, the amount requested (the "Request for Advance"), together with a certificate from the Architect certifying the percentage of the Work completed and certificates of payment covering all Work which has been made as of the date of the payment of the Improvement Advance advanced for the previous month and such other information reasonably required by LESSOR. All such certificates shall be in form and substance reasonably satisfactory to LESSOR, and LESSOR and LESSOR's representatives shall be permitted from time to time to inspect Space B and LESSEE's books and records with respect to the Work during normal business hours and on reasonable notice. All Requests for Advance shall be subject to LESSOR's confirmation of the satisfactory completion of the Work in accordance with the Plans to date. Each Request for Advance shall be submitted by written notice to LESSOR not less than 30 Business Days prior to the date LESSEE desires receipt of the requested Improvement Advance. LESSOR shall have no obligation to make any Improvement Advance, if any material event of default by LESSEE under this Lease has occurred and has not yet been cured. EXHIBIT C ITEMS INCLUDED IN OPERATING EXPENSES
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Improvement Advances. 35 6.3 Improvements Financed by Landlord..............................36 6.4 Salvage........................................................36 ARTICLE 7: LIENS............................................................36 7.1 Liens..........................................................36 7.2 Landlord's Lien................................................37 ARTICLE 8: PERMITTED CONTESTS...............................................37
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Improvement Advances. The making of any Additional Advance under this Agreement constituting an Improvement Advance is, in addition to the conditions precedent specified in Section 7.1B and Section 7.5, subject to the fulfillment or waiver of the following conditions precedent (provided that such conditions may only be waived with the consent of the Majority Lenders):
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Improvement Advances. 39 6.6 Salvage.......................................................40
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Improvement Advances. 35 6.3 Improvements Financed by Landlord . . . . . . . . . . . . . . 36 6.4 Salvage . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 5 -iv- ARTICLE 7: LIENS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 7.1 Liens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 7.2 Landlord's Lien . . . . . . . . . . . . . . . . . . . . . . . . 37 ARTICLE 8: PERMITTED CONTESTS . . . . . . . . . . . . . . . . . . . . . . . 37
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Improvement Advances 
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Related to Improvement Advances

  • Equipment Advances Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on the outstanding daily balance thereof, at a rate equal to 0.50% above the Prime Rate.

  • Loan Advances The Lender agrees to make advances to the Borrower from time to time until December 1, 1995, subject to all of the terms and conditions of this Agreement. All requests by the Borrower for advances shall be made in such manner and form and with such prior notice to the Lender as the Lender may reasonably require from time to time. Each request for an advance shall be for a minimum amount of $50,000.00. Each such request shall contain or be accompanied by such information and documents (which shall be Certified if required by the Lender) concerning the Collateral, the Borrower's financial condition, use of the proceeds of such advance and of advances previously made and/or any other matters as the Lender may from time to time require. In no event shall the Lender be obligated to make any advance hereunder if an Event of Default has occurred under the Note or if such advance would cause the total principal amount of advances made and outstanding hereunder to exceed the Maximum Loan Amount. Even if the total principal amount of advances outstanding shall at any time and for any reason exceed the Maximum Loan Amount, the Borrower shall nonetheless be liable for the entire principal amount outstanding, with interest thereon at the rate and calculated in the manner provided in the Note, in accordance with this Agreement and the Note. If the total principal amount of advances outstanding hereunder shall at any time exceed the Maximum Loan Amount, the Borrower shall immediately pay to the Lender upon demand the amount of such excess, with interest thereon at the rate and calculated in the manner provided in the Note. The Borrower agrees that the Borrower shall be liable for, and the Collateral shall secure, the repayment of each advance made by the Lender to or for the Borrower hereunder, with interest at the rate and calculated in the manner provided in the Note, whether or not such advance was duly requested or authorized by the Borrower and whether or not any person requesting such advance was duly authorized to make such request. Subject to all of the terms and conditions of this Agreement and the other Loan Documents, the Borrower may borrow hereunder until December 1, 1995. Borrower acknowledges and agrees that on December 1, 1995, the Lender shall advance to the Borrower the balance of the Loan, should such funds not have been previously advanced by the Lender.

  • Subsequent Advances The obligation of TEXTRON to make any advance shall be subject to the further conditions precedent that, on and as of the date of such advance: (i) the representations and warranties of Borrower set forth in this Agreement shall be accurate, before and after giving effect to such advance or issuance and to the application of any proceeds thereof; (ii) no Event of Default and no event which, with notice or passage of time or both, would constitute an Event of Default has occurred and is continuing, or would result from such advance or issuance or from the application of any proceeds thereof; (iii) no material adverse change has occurred in the Borrower's business, operations, financial condition, or assets or in the prospect of repayment of the Obligations; and (iv) TEXTRON shall have received such other approvals, opinions or documents as TEXTRON shall reasonably request.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • Disbursement of the Tenant Improvement Allowance Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord (each of which disbursement shall be made pursuant to Landlord’s standard disbursement process), only for the following items and costs (collectively, the “Tenant Improvement Allowance Items”):

  • Agent Advances (i) Subject to the limitations set forth below and notwithstanding anything else in this Agreement to the contrary, the Administrative Agent is authorized by the Borrowers and the Lenders, from time to time in the Administrative Agent’s sole discretion, (A) at any time that a Default exists, (B) at any time that any of the other conditions precedent set forth in Article 4 have not been satisfied, or (C) at any time an Overadvance exists or would result from any Agent Advance (as defined below), to make Base Rate Advances to the Borrowers on behalf of the Lenders in an aggregate amount outstanding at any time not to exceed (together with all other Aggregate Revolving Credit Obligations) the lesser of (y) the Revolving Loan Commitment or (z) $5,000,000, which the Administrative Agent, in its reasonable business judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (3) to pay any other amount chargeable to the Borrowers pursuant to the terms of this Agreement, including costs, fees and expenses as provided under this Agreement (any of such advances are herein referred to as “Agent Advances”); provided, that (i) such amount shall not be outstanding more than 30 days and (ii) the Majority Lenders may at any time revoke the Administrative Agent’s authorization to make Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Administrative Agent’s receipt thereof. The Administrative Agent shall promptly provide to the Administrative Borrower written notice of any Agent Advance.

  • Term Loan Advance Subject to Section 2.3(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate plus three percent (3.00%), which interest shall be payable monthly.

  • Disbursement of Tenant Improvement Allowance During the construction of the Tenant Improvements, Landlord shall make monthly disbursements of the Tenant Improvement Allowance for Tenant Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies for the benefit of Tenant as follows.

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