Loans In Balance Sample Clauses

Loans In Balance. The Loans shall be “in balance” as determined by Administrative Agent in accordance with Section 2.06 hereof.
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Loans In Balance. The Loans shall be “in balance” as determined by Lender in accordance with Section 6.6 hereof.
Sample 1
Loans In Balance. (a) Notwithstanding anything in this Agreement or the Loan Documents to the contrary, Borrower shall at all times cause the Loans to be In Balance, and Lender shall have no obligation to fund any Disbursement or perform any other act unless and until the Loans are In Balance. The Loans shall be deemed to be “In Balance” only when the maximum principal amount of the Loans, less the sum of the funded Advances, plus the sum of (a) the undisbursed portion of the Construction Equity Deposits, (b) the undisbursed portion of the Subordinate Loans, and (c) any other available Funding Sources for the Project described on the Construction Funds Schedule (as determined by Lender), shall equal or exceed the amount reasonably estimated by Lender to pay for all work done or to be done and all materials furnished and to be furnished for the completion of the Project in each category of cost referred to in the Budget, including installation of all fixtures, equipment, and all other finish materials required for use, occupancy and operation of the Project, and to pay interest on the Loans, including but not limited to any interest through the Maturity Date of the Construction Loan (taking into account any extension of the Maturity Date if the Maturity Date of the Construction Note has been extended) and all other costs required to be paid by Borrower in connection with the Project.
Sample 1
Loans In Balance. If, at any time during the course of construction of the Project, the total of the unpaid costs for the Project as indicated by the column totals on Borrower’s Sworn Construction Statement exceeds the sum of (i) the undisbursed proceeds then held in the Loan Disbursement Account plus (ii) all other sources available to Borrower (and any affiliates of Borrower) with respect to the construction of the Project (the “Available Sources”), no further Disbursement shall be made until Borrower has deposited into the Project Loan Disbursement Account the sum necessary to make the Available Sources equal to the unpaid costs for completion of the Project. Also, if any Lender or Disbursing Agent discovers a misstatement in an affidavit furnished by General Contractor or Borrower, Disbursing Agent shall notify the parties hereto and shall not make any further Disbursement until such misstatement has been corrected to the satisfaction of the parties.
Sample 1
Loans In Balance. Anything contained in this Agreement to the contrary notwithstanding, until substantial completion of the Improvements in accordance with the Plans and Specifications (except for the completion of punch-list items) the Loans shall at all times be “In Balance”, on a Budget Line Item basis and in the aggregate. A Budget Line Item shall be deemed to be “In Balance” only if the Required Lenders, in their reasonable discretion, determine that the amount of such Budget Line Item is sufficient for its intended purpose. The Loans shall be deemed to be “In Balance” in the aggregate only when the total of the undisbursed portion of the Facility A Commitment, plus the portion of the Additional Equity Requirement remaining to be invested, plus the undisbursed balance of Available Contract Deposits, plus Deficiency Deposits previously made by Borrower, plus the amount on deposit in the Facility A Excess Proceeds Account, less the Contingency Reserve (such total being the “Available Funds”), equals or exceeds the aggregate of: (i) the costs required to complete the Construction in accordance with the Plans and Specifications and the Construction Budget through substantial completion; (ii) the amounts to be paid as retainages to persons who have supplied labor or materials to the Project; (iii) amounts required to be refunded or otherwise paid to any contract vendee under a Contract of Sale; and (iv) all other Hard Costs and Soft Costs not yet paid for in connection with the Project, as such costs and amounts described in clauses (i) through (iv) above may be estimated and/or approved in writing by the Agent from time to time (such costs and amounts in (i) through (iv) being the “Outstanding Loan Costs”). If, in the Agent’s reasonable determination, either any Budget Line Item is insufficient for such purpose or the aggregate amount of the Available Funds is less than Outstanding Loan Costs, then Borrower shall, within fifteen (15) days after written request by the Agent (with simultaneous copies of such written request sent to Guarantors and the Lenders), deposit the deficiency with the Agent (a “Deficiency Deposit”). The Deficiency Deposit shall first be exhausted before any further disbursement of Facility A Loan proceeds shall be made. Any Deficiency Deposit remaining after a particular Budget Line Item or the Loans, as the case may be, are back “In Balance” shall be returned to Borrower. Facility A Lenders shall not be obligated to make any Facility A Loan disbursem...
Sample 1

Related to Loans In Balance

  • Maximum Loan Amount No loan to a Participant under the Plan may exceed the lesser of:

  • Loan Amount 5. ACCOUNT NAME(S) .............................................................................................................................................................................. BANK NAME / BRANCH ...................................................................................................................................................................

  • Loans; Investments Make or suffer to exist any loans, guaranties, advances, or investments, except:

  • Reductions in Aggregate Commitment The Borrower may permanently reduce the Aggregate Commitment in whole or in part ratably among the Lenders in a minimum amount of $15,000,000 and integral multiples of $2,500,000 in excess thereof, upon at least two Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Syndicated Advances.

  • Loans, Investments, Etc Each Borrower and Guarantor shall not, and shall not permit any Subsidiary to, directly or indirectly, make any loans or advance money or property to any person, or invest in (by capital contribution, dividend or otherwise) or purchase or repurchase the Capital Stock or Indebtedness or all or a substantial part of the assets or property of any person, or form or acquire any Subsidiaries, or agree to do any of the foregoing, except:

  • Voluntary Prepayments Commitment Reductions (a) Prior to the Stated Maturity Date, the Borrower may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided, however, that:

  • Mandatory Prepayments Commitment Reductions (a) No later than the first Business Day following the date of receipt by Holdings, Company or any of its Subsidiaries of any Net Asset Sale Proceeds from Asset Sales made in accordance with Sections 6.7(o), 6.7(p), and Section 6.9, or of any Net Insurance/Condemnation Proceeds, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to such Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds, as the case may be; provided, so long as Event of Default shall have occurred and be continuing, Company may deliver to Administrative Agent a certificate of an Authorized Officer of Company setting forth (1) that portion of such Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds (such portion being the "PROPOSED REINVESTMENT PROCEEDS") that Company or such Subsidiary intends to reinvest within 365 days of the date of receipt, in non-current assets useful in the business of Company and its Subsidiaries, which may include, in the case of any Proposed Reinvestment Proceeds which related to Net Insurance/Condemnation Proceeds, the repair, restoration or replacement of the applicable assets of Company or its Subsidiaries (such assets being "ELIGIBLE ASSETS") and (2) the proposed use of such Proposed Reinvestment Proceeds and such other information with respect to such reinvestment as Administrative Agent may reasonably request. In the event Collateral Agent shall receive any Net Insurance/Condemnation Proceeds in its capacity as loss payee pursuant to Section 5.5, Company hereby authorizes Collateral Agent to apply an amount equal to all such amounts in accordance with this Section 2.13(a); provided, if Company shall elect to exercise its option to reinvest any such proceeds pursuant to the first sentence of this Section 2.13(a), Company shall give notice to Administrative Agent of such election and Administrative Agent shall pay over to Company such proceeds and Company shall reinvest such proceeds in accordance with the terms of such sentence.

  • Revolving Loan Prepayments (i) In the event of the termination of all the Revolving Commitments, Borrower shall, on the date of such termination, repay or prepay all its outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i).

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