Interest Reserve. Except as provided in Section 2.7 Permitted Costs hereof, after the earlier of the issuance of certificate of occupancy for a Facility or the expiration of the Construction Phase, no further advances shall be made from the Interest Reserve in such Total Development Budget.
Appears in 2 contracts
Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)
Interest Reserve. Except as provided in Section 2.7 2.8 (Permitted Costs hereofCosts), after the earlier of the issuance of certificate of occupancy for a Facility or the expiration of the Construction Phase, no further advances availability under the Borrowing Base shall be made given from the Interest Reserve category in such Total Development Budget.
Appears in 1 contract
Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)
Interest Reserve. Except as provided in Section 2.7 2.6 (Permitted Costs hereofCosts), after the earlier of the issuance of certificate of occupancy for a Facility or the expiration of the Construction Phase, no further advances shall be made from the Interest Reserve in such Total Development Budget.
Appears in 1 contract
Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)
Interest Reserve. Except as provided in Section 2.7 Permitted Costs 2.02 hereof, after the earlier of the issuance of certificate of occupancy for a Facility or the expiration of the Construction Phase, no further advances shall be made from the Interest Reserve in such Total Development Budget.
Appears in 1 contract
Samples: Master Construction Loan Agreement (Sunrise Assisted Living Inc)
