Reallocations. Lender reserves the right, at its option, to disburse Loan proceeds allocated to any of the Allocations for such other purposes or in such different proportions as Lender may, in its sole discretion, deem necessary or advisable. Borrower shall not be entitled to require that Lender reallocate funds among the Allocations.
Appears in 8 contracts
Samples: Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement (Stratus Properties Inc)
Reallocations. Lender reserves the right, at its option, to disburse Phase II Loan proceeds allocated to any of the Allocations for such other purposes or in such different proportions as Lender may, in its sole discretion, deem necessary or advisable. Borrower shall not be entitled to require that Lender reallocate funds among the Allocations.
Appears in 1 contract
Samples: Construction Loan Agreement (Stratus Properties Inc)
Reallocations. Except for a Permitted Change, Lender reserves the right, at its option, to disburse Loan proceeds allocated to any of the Allocations for such other purposes or in such different proportions as Lender may, in its sole discretion, deem necessary or advisable. Borrower shall not be entitled to require that Lender reallocate funds among the Allocations.
Appears in 1 contract
Samples: Construction Loan Agreement (Owens Realty Mortgage, Inc.)