Excess Loan Proceeds definition
Excess Loan Proceeds means, with respect to any Debt of a Project Entity, the net proceeds as and when such proceeds are deemed received by such Project Entity (but specifically excluding any sums that continue to be held by the Lender under any Debt Documents) after (i) payment of all expenses in connection therewith and (ii) repayment of any Debt being repaid or refinanced.
Excess Loan Proceeds has the meaning specified therefor in Section 5.02(e).”
Excess Loan Proceeds. With respect to any Loan, the net proceeds as and when such proceeds are distributed to the Company (including, without limitation, the distribution of sums that were held by the lender of any Loan from any escrow and/or reserve accounts as same are returned to the Company or to the applicable constituent interest holders, but specifically excluding any sums that continue to be held by the lender under a Loan (e.g., amounts held in any escrow account)): (i) after payment of all expenses in connection therewith; (ii) after repayment of any Loan being repaid or refinanced; and (iii) after payment of any additional expenditures for which such Loan was obtained.