Pro Rata Equity Contribution definition
Pro Rata Equity Contribution means, with respect to any Borrowing date for a Project, cash equity contributions (including, any Initial TE Funding) in an amount required such that (after giving effect to any Borrowing made on such date) the ratio of the aggregate outstanding principal of the Construction Loans for such Project to the aggregate cash equity contributions made on or prior to such date (after giving effect to any Project Initial Funding Date Distribution for such Project) satisfies the DE Criteria.