Common use of Loan Balance Clause in Contracts

Loan Balance. As of the date immediately prior to any Disbursement, the total amount of unadvanced proceeds of the Loan shall be sufficient, in the opinion of Lender and Title to complete the Improvements free of liens. To the extent the total of the unadvanced proceeds of the Loan shall be insufficient, at any time, in Lender's or Title's opinion, to complete the Improvements, or be less than the Total Construction Costs not yet paid for or not yet incurred, the Borrower shall immediately deposit with the Lender or with Title, as additional Owner Equity funds, an amount equal to such deficiency and such additional Owner Equity funds shall be disbursed by Title prior to the Disbursement of any further advance or advances under this Agreement.