Owner Advances definition
Examples of Owner Advances in a sentence
Fourth, pari passu, to (i) Owners, in an amount necessary to reimburse Owners for all Aggregate Owner Advances which have not yet been repaid pursuant to this Section 3.01, and (ii) to Manager, in an amount necessary to reimburse Manager for all Aggregate Additional Manager Advances which have not yet been repaid pursuant to this Section 3.01.
Fourth, pari passu, to (i) Owners, in an amount necessary to reimburse Owners for all Aggregate Owner Advances which have not yet been repaid pursuant to this Section 3.01, and (ii) to Managers, in an amount necessary to reimburse Managers for all Aggregate Additional Manager Advances which have not yet been repaid pursuant to this Section 3.01.
Fourth, pari passu, (i) to Owners, in an amount necessary to reimburse Owners for all Aggregate Owner Advances which have not yet been repaid pursuant to this Section 3.01, and (ii) to Managers, in an amount necessary to reimburse Managers for all Aggregate Additional Manager Advances which have not yet been repaid pursuant to this Section 3.01.
There are no Owner Advances required to be paid under the terms of any of the ▇▇▇ Agreements.
Agent has used or will use all Owner Advances provided to it solely for application against the Cost of the Properties, as agent of Owner, in accordance with the terms and conditions of this Agreement, the Lease and the Loan Agreement.
Agent shall use all Owner Advances provided to it solely for the Development Costs, as agent of Owner, in accordance with the terms and conditions of this Agreement or to reimburse the Agent for any Development Costs previously paid for by Agent from its own funds, provided that such reimbursement is approved by Owner.
At the Initial Closing, Owner will enter into the Loan Agreement and the other Operative Documents to which it is a party in order to obtain financing for Owner Advances with respect to the New Facilities and the Existing Facilities.
As described in Section 3.2 hereof, Agent shall use Owner Advances and, subject to the terms and conditions of this Agreement, its own funds, to perform or cause to be performed the Work as agent for Owner.