Examples of Future Funding Amount in a sentence
If Buyer determines not to advance a requested Future Funding Amount with respect to any Purchased Asset, Seller shall promptly satisfy all future funding obligations with respect to each Purchased Asset as and when required pursuant to the related Purchased Asset Documents, together with the terms of this Agreement.
Each Future Funding Confirmation shall identify the related Whole Loan and/or Senior Interest, shall identify Buyer and Seller, shall set forth the requested Future Funding Amount, and shall be executed by both Buyer and Seller; provided, however, that Buyer shall not be liable to Seller if it inadvertently acts on a Future Funding Confirmation that has not been signed by a Responsible Officer of Seller.
Further, it is acknowledged that, subject to the requirements set forth in Section 2.1.5, unadvanced portions of the Future Funding Amount may be deposited into the Renovation Project Reserve Account from time to time after the date hereof.
Although policy E19 is currently in draft form and therefore little weight can be attached to it, it is noted that the proposed development at 130 Gosterwood Street largely complies with these criteria.
On the date hereof (the “Termination Date”), Seller shall pay to Buyer an amount equal to the sum of $2,641,632.12 and the TCAL Future Funding Amount (as defined below) (the “Paydown Amount”), which amount shall be applied to reduce the Repurchase Price (excluding accrued and unpaid Price Differential) under the Repurchase Agreement.