Purpose; Reallocation Sample Clauses

Purpose; Reallocation. Loan B shall be advanced by Lender in accordance with the terms of this Agreement to pay those expenses related to the Renovation Improvements that are described in the Budget, but not, in the aggregate with respect to any line item set forth in the Budget, in excess of the Loan B Amount to be disbursed for such line item. Borrowers will receive each Advance in trust for the purpose of paying only those costs for which the Advance is made and will utilize the funds advanced for no other purpose. With the prior approval of Lender, any cost savings, actual or estimated, affecting any approved line item within the Budget, other than the interest reserve, may be reallocated by Borrower to any other line item within the Budget. Upon completion of the Renovations Improvements and the payment of all costs in connection therewith, any undisbursed proceeds of Loan B shall be allocated to an interest reserve (if applicable) or to such other line item as Lender shall approve. Each disbursement from a contingency reserve shall be subject to approval by Lender as to the amount and purpose for which such disbursement will be used, such approval not to be unreasonably withheld.