Common use of Interim Loans Clause in Contracts

Interim Loans. Subject to the terms and conditions hereof, and relying on the representations, covenants, and warranties of the Borrower contained herein, Lender agrees to make Interim Loans to the Borrower and to advance to the Borrower monies so lent in a non-revolving line of credit of up to TWENTY FIVE MILLION DOLLARS ($25,000,000.00) to finance part of the Total Project Costs from time to time during the period commencing on the date of this Agreement to and including the Completion Date.