Anticipated Advances definition

Anticipated Advances means the following, to the extent they have not already been advanced on or prior to the effective date of this Agreement: (1) the Initial Advance and other amounts (other than Commitment Fees and Carrying Costs) that are added to the Outstanding Construction Allowance from time to time pursuant to Paragraph 3 of the Construction Agreement, and (2) advances of funds by or on behalf of BNPPLC to or on behalf of LRC pursuant to Paragraph 4 of the Construction Agreement. Any other amounts paid out-of-pocket by BNPPLC from time to time that BNPPLC is entitled to treat as Construction Advances pursuant to the express terms of the Construction Agreement (see subparagraphs 2(G)(2) and 8(A) of the Construction Agreement) will constitute Protective Advances, not Anticipated Advances, for purposes of this Agreement. Notwithstanding the foregoing, Extraordinary Force Majeure Advances, if any, will not constitute Anticipated Advances or Protective Advances for purposes of this Agreement.
View Source
Anticipated Advances means (1) the Initial Funding Advance and other amounts (other than Commitment Fees and Carrying Costs) that are added to the Outstanding Construction Allowance from time to time pursuant to Paragraph 3 of the Construction Management Agreement, and (2) advances of funds by or on behalf of BNPPLC to or on behalf of NAI pursuant to Paragraph 4 of the Construction Management Agreement. Any other amounts paid out-of-pocket by BNPPLC from time to time that BNPPLC is entitled to treat as Construction Advances pursuant to the express terms of the Construction Management Agreement (see subparagraphs 2(G)(2) and 8(A) of the Construction Management Agreement) will constitute Protective Advances, not Anticipated Advances, for purposes of this Agreement.
View Source

Examples of Anticipated Advances in a sentence

  • If any Anticipated Advances made after the date of this Agreement, with respect to which any Defaulting Participant fails to make the payment required by subparagraph 3(B), the other Participants will nonetheless be required to make the payments to BNPPLC required by subparagraph 3(B).

  • Each Participant acknowledges that LRC will be relying on the commitments of the Participant to make payments required by this Agreement to permit funding of Anticipated Advances by BNPPLC under the Construction Agreement.

  • Each Participant acknowledges that NAI will be relying on the commitments of the Participant to make payments required by this Agreement, as needed to satisfy any condition to Anticipated Advances concerning funding by Participants set forth in subparagraph 4(G) of the Construction Management Agreement.

  • Each Participant acknowledges that NAI will be relying on the commitments of the Participant to make payments required by this Agreement to permit funding of Anticipated Advances by BNPPLC under the Construction Agreement.