In Balance as defined in the Disbursement Agreement.
In Balance means, on any occasion, when the amount of the undisbursed Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the issuance of a certificate of occupancy (or the local equivalent) are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction and renovation to achieve Completion of Construction and Renovation; (b) all costs of marketing, ownership, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.
In Balance means, with respect to each Project, no Deficiency then exists with respect to such Project.
Examples of In Balance in a sentence
See In Balance 2018: https://www.afm.nl/nl-nl/nieuws/2018/dec/onderzoek-nieuwe- verslaggevingsregels and In Balance 2019: https://www.afm.nl/nl-nl/nieuws/2019/dec/waardecreatie-wint- aan-belanggreater attention to NFI, to ask companies NFI-related questions during public contacts and to include NFI in their investment decisions.
More Definitions of In Balance
In Balance means, on any occasion, that the amount of the undisbursed Limited Partner's Capital Contribution are sufficient in the Limited Partner's reasonable judgment to pay, through Completion of Construction, all of the following sums: (a) all costs of construction, marketing, ownership, maintenance and leasing of the Apartment Housing units; and (b) all sums payable under the Construction documents.
In Balance means, on any occasion, when the amount of the undisbursed Construction Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the issuance of a certificate of occupancy (or the local equivalent) are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction to achieve Completion of Construction; (b) all costs of marketing, ownership, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.
In Balance has the meaning assigned to such term in Section 4.3.
In Balance means, at any time when calculated, when the cumulative amount of the undisbursed Construction Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the Completion of Construction are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction to achieve Completion of Construction; (b) all soft costs in the development of the Apartment Housing and Improvements, including but not limited to, architect fees, land acquisition, impact fees and costs of marketing, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.
In Balance has the meaning set forth in Section 4.8(a).
In Balance has the meaning provided in Section 4.4 of this Agreement.
In Balance means, on any occasion, that the amount of the undisbursed Construction Loan and undisbursed Limited Partner's Capital Contribution are sufficient in the Limited Partner's reasonable judgment to pay, through Completion of Construction and maturity of the Construction Loan, where applicable, all of the following sums: (a) all costs of construction, marketing, ownership, maintenance and leasing of the Apartment Housing units; and (b) all interest and all other sums accruing or payable under the Construction Loan documents.