Borrower’s Equity definition

Borrower’s Equity has the meaning assigned to such term in Part A of Schedule 2.1.

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Borrower’s Equity means funds of at least 46% of Project Costs consisting of member cash equity of not less than $23,159,000.00 plus any grants received from any source related to the construction or operation of the Project.

Borrower’s Equity means an amount, in the form of cash or other assets approved by Lender, which equals at least fifty percent (50%) of the lesser of the Prospective Property's appraised fair market value or the Purchase Price of the Prospective Property. Borrower's Equity is not a requirement in the case of an Operation Draw Request for an Operational Purpose.

Examples of Borrower’s Equity in a sentence

To the extent applicable, the spouse of Borrower shall not have any right to or interest in Borrower’s Equity, and Borrower’s Equity is Borrower’s individual property instead of marital property.
Borrower acknowledges that Lender has a valid interest in maintaining the value of the Properties so as to ensure that, should Borrower default in the repayment of the Debt or the performance of the Other Obligations, Lender can recover the Debt by a sale of the Properties or Borrower’s Equity Interests.
This Section 8.1, and all rights and obligations hereunder, shall terminate upon the earliest to occur of (a) termination of this Agreement or (b) such time that the Lenders or their permitted assignees or nominees have purchased $5,000,000 of Borrower’s Equity Interests in the aggregate in Subsequent Financings.
All of Borrower’s Equity in its Subsidiaries, and all other Equity set forth in such section of the Disclosure Schedule, have been duly authorized and are validly issued, fully paid and non-assessable.
With respect to any Person as of any date of determination, Indebtedness of such Person which is not Secured Debt, and in the case of the Borrower, shall include (without duplication), the Borrower’s Equity Percentage of the Unsecured Debt of its Unconsolidated Affiliates.

More Definitions of Borrower’s Equity

Borrower’s Equity means funds, consisting of member cash equity, grants, Subordinated Debt, and earnings on such amounts, equal to $70,000,000.00 plus the amount equal to the difference between (x) the final Project Costs determined on the Completion Date, and (y) $189,645,000.00.

Borrower’s Equity shall be defined as that portion of the Project Cost Statement for Hard Costs and Soft Costs to be funded by Borrower in advance of the Initial Advance, which shall be equal to the total project cost for the project to be constructed on the Premises in accordance with the Plans and the General Contract, as the same may be modified or amended from time to time, minus the Loan Amount. The amount of Borrower’s Equity shall not be less than $8,970,204.00 unless Borrower provides Lender with evidence satisfactory to Lender, in its sole discretion, that the total project cost for the completed project to be constructed on the Premises in accordance with the Plans and the General Contract has been reduced, in which case the amount of Borrower’s Equity shall be reduced in an amount equal to such reduction in project cost.

Borrower’s Equity means the sum of $5,677,204, inclusive of proceeds of the Subordinate Loan.

Borrower’s Equity. Funds in the amount of $24,500,000 obtained by Borrower from either (i) equity contributions or (ii) other sources approved by Administrative Agent, and in both cases which are to be applied to the payment of Project Costs.

Borrower’s Equity means the aggregate total of $3,320,000.00 to be contributed by Borrower in accordance with the Budget and as provided in this Agreement.

Borrower’s Equity means, without duplication, the sum of shareholders’ equity of the Borrower and non-controlling interests of the Borrower, in each case determined on a consolidated basis, in accordance with GAAP.

Borrower’s Equity means the amount of Borrower’s cash equity investment in the Land and the Improvements as reasonably calculated from time to time by Lender. Borrower’s Equity shall be at least equal to the total cost shown on the Approved Budget less the proceeds of the Loan, but will in no event be less than $7,191,000.00. The amount of Borrower’s Equity required may be increased in the event additional funding is required pursuant to the terms of Section 2.02 of this Agreement.