Required Minimum Equity definition

Required Minimum Equity means $2,175,000 of cash equity (and not Loan Proceeds) invested by Borrower Parties in the Property, taking into account all cash equity contributed by any Borrower Party on or before the date hereof for closing costs related to closing the Loan.
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Examples of Required Minimum Equity in a sentence

  • The Equity Contribution shall have been (or substantially concurrently with the effectiveness of this Agreement shall be) consummated in an amount not less than the Required Minimum Equity Contribution Amount (as such amount may be modified pursuant to clause (f) below).

  • The Equity Contribution shall have been (or substantially concurrently with the funding of the Tranche B Term Loans on the Closing Date shall be) consummated in an amount not less than the Required Minimum Equity Contribution Amount (as such amount may be modified pursuant to clause (f) below).

  • Evidence that Borrower has invested the Required Minimum Equity in the Property.

  • The Required Minimum Equity shall not be reimbursed from the proceeds of the Loan.

  • Other than Distributions made in accordance with this Agreement, Borrower Parties shall maintain the Required Minimum Equity until the payment in full of the Indebtedness and the performance of all other Obligations and no Borrower Party shall be permitted to have any of the Required Minimum Equity returned to it, whether through the use of Loan proceeds or otherwise.