Completion Costs. Notwithstanding anything to the contrary herein, if Guarantor shall at any time default in the performance of, or disclaim, its obligations under Section 1 above, or if Lender shall elect, in its sole and absolute discretion, to demand payment of the Completion Costs (as hereinafter defined) by Guarantor, Guarantor shall, at Lender’s election and upon demand by Lender, pay to Lender an amount equal to the positive difference, if any, between: (x) the Completion Costs, and (y) the sum of the unfunded portions of the Building Loan and the Project Loan (specifically excluding, however, unfunded amounts of the Building Loan and the Project Loan that are budgeted for the payment of leasing commissions, tenant improvement allowances and tenant improvement work) and all Equity Deposits and School Cost Payments held by Lender and School Cost Payments anticipated to be made under the School Unit Purchase Agreement (collectively, the “Unfunded Construction Loan Proceeds”). As used herein, the term “Completion Costs” means all of Lender’s direct and indirect costs incurred or estimated to be incurred in connection with the Completion of the Construction Work as required of Borrower under the Master Loan Agreement, including, without being limited to, Hard Costs, Soft Costs and School Costs (and specifically including, without limitation: all costs estimated to be incurred to sell the School Unit and the Subdivided Residential Units; all real estate taxes, insurance premiums, Operating Expenses and interest on the Loan that would have become payable during the estimated construction period), all irrespective of the amounts set forth in the Approved Budget for each line item and irrespective of the absence of any particular item of direct or indirect costs from the Approved Budget and irrespective of whether Guarantor’s obligations under the Carry Guaranty have been terminated (but without duplication of amounts payable and actually paid by Guarantor under the Carry Guaranty). Following such demand by Lender for payment by Guarantor of the Completion Costs to Lender and the actual payment by Guarantor of the amount demanded by Lender in accordance with the provisions of this Section 2 (expressly including all amounts set forth in any Demand Notice in accordance with the provisions of subsection 3(a) hereof sent prior to such payment by Guarantor), Guarantor shall be deemed to have satisfied its obligations under Sections 1(a), 1(b) and 3(a) of this Guaranty. For the pu...
Completion Costs. Grantee acknowledges and agrees that upon the occurrence of any default or Event of Default under this Deed to Secure Debt or other Loan Document the payment of the Completion Costs shall be made solely as provided for in Section 4.10(c) of this Deed to Secure Debt and subject to the provisions of Section 10.20 of the Loan Guarantee Agreement.
Completion Costs. (a) Table 1 of Schedule 2.5(a) sets forth an estimate by the --------------- TCR Parties of each component of the Completion Costs (the "ESTIMATED COMPLETION COSTS") anticipated to finalize construction of each of the Real Properties listed thereon (collectively, the "DEVELOPMENT PROPERTIES"). Twenty (20) days before the Closing Date, the TCR Representatives shall provide the Transferee a revised estimate of the following components of the Completion Costs for one or more of the Development Properties: "Hard Cost" and/or "Operating Income Offset" (together, the "AUDITABLE COMPONENTS"). Based on such revised components and the instructions set forth in Schedule 2.5(e), a revised estimate --------------- of each component of the Completion Costs (the "REVISED COMPLETION COSTS") shall be calculated for each of the Development Properties, and Table 1 of Schedule -------- 2.5(a) shall be revised to incorporate the Revised Completion Costs. From and ------ after the Effective Date until the Closing or until this Agreement is terminated as herein provided, the TCR Representatives shall provide, and each of the Contributors and the Contributing Partners shall cooperate with the TCR Representatives in the provision of, all reasonable information requested by the Construction Auditor for the purpose of determining its estimate of the Auditable Components for each of the Development Properties. Ten (10) Business Days before the Closing Date, the Construction Auditor shall report to the TCR Representatives and the Transferee its estimate of the Auditable Components for each Development Property as of the Closing Date. Based on the Auditable Components as so determined by the Construction Auditor and the instructions set forth in Schedule 2.5(e), an audited estimate of the Completion Costs (the --------------- "AUDITED COMPLETION COSTS") shall be calculated for each of the Development Properties, and Table 2 of Schedule 2.5(a) shall be completed by incorporating --------------- those audited estimates therein and calculating the reserve amounts shown thereon (each, a "RESERVE AMOUNT"), which shall be, for each Development Property, the excess, if any, of (i) the Audited Completion Costs for the Property over (ii) the Revised Completion Costs for the Property.
Completion Costs. Pro forma costs to complete the first phase of any ----------------- Startup Project, including, but not limited to, anticipated expenditures for land, all Soft Costs, and the amount of any form of future obligation or guaranty to inject cash required in order to construct the first phase of such Startup Project, regardless of which phase such obligation or guaranty shall actually benefit. Consolidated or consolidated. With reference to any term defined herein, ------------------------------ shall mean that term as applied to the accounts of FCI and its Subsidiaries, consolidated in accordance with generally accepted accounting principles. Consolidated Net Income (or Deficit). The consolidated net income (or --------------------------------------- deficit) of FCI and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with generally accepted accounting principles. Consolidated Net Operating Income (or Deficit). Consolidated Net Income (or ---------------------------------------------- Deficit), after eliminating therefrom all extraordinary nonrecurring items of income or loss. Consolidated Operating Cash Flow. For any period, an amount equal to (i) --------------------------------- the sum of (A) Earnings Before Interest and Taxes for such period, plus (B) ---- depreciation, amortization and all other noncash charges for such period, less ---- (ii) the sum of (A) cash payments for all taxes paid during such period, plus (B) Capital Expenditures made during such period.
Completion Costs. A. Capital expenditures for completion costs made during fiscal year to date: $ ---------------------
Completion Costs. After preparation of a completion design for a Program Well to be Completed, GASCO shall furnish to NFR an AFE for the Completion Costs of such Program Well and a Cash Call in the amount of NFR’s Working Interest Share of such AFE. Not later than fifteen (15) business days after receipt of the AFE and Cash Call, NFR shall pay to GASCO, by wire transfer of immediately available funds in accordance with the instructions set forth in Schedule 3.1, the amount of such Cash Call.
Completion Costs. 23 Section 3.6 Cash Consideration........................................... 24 Section 3.7 Withdrawn Properties......................................... 24 Section 3.8 Management Contracts and Brokerage Business.................. 25 Section 3.9 Retained Amount.............................................. 26
Completion Costs. Each party consenting to a proposed additional testing operation under Section 6.3(a)(i), hereinabove, or an attempt to complete operation under Section 6.3(a)(ii), hereinabove, shall, within ten (10) calendar days after such election, pay in full its proportionate share of the costs of such operation to Pohle, such costs sometimxx xxferred to elsewhere in this Agreement as the "Completion Costs". Should any party fail to make full payment of its proportionate share of the Completion Costs, then said party shall be deemed to have elected not to join in the proposed operation, and the provisions hereof applicable to non-consenting parties shall apply.
Completion Costs. 10 Section 2.6. Cash Consideration........................................ 12 Section 2.7. Designation of Issuance of Equity Securities.............. 13 Section 2.8. Withdrawn Properties...................................... 13 Section 2.9. Guaranty.................................................. 13 Section 2.10. Certain Definitions....................................... 14 ARTICLE 3. TITLE; MATTERS TO WHICH THIS CONTRIBUTION IS SUBJECT............. 14
Completion Costs. All interest shall be computed on the premise that a year contains 360 days, and is composed of twelve (12) months, each of which contains thirty (30) days. The Completion Costs Interest Rate used for purposes of determining Tenant's monthly installment of Tenant's Share of Phase 1 Completion Costs shall initially equal that rate of interest (as determined pursuant to the formula set forth above in effect on the Phase 1 Commencement Date, and thereafter, the Completion Costs Interest Rate used for purposes of determining Tenant's monthly installment shall be recalculated at the commencement of each Lease Year (individually referred to as a "Payment Calculation Date") using the interest rate (as determined pursuant to the formula set forth above) in effect on each respective Payment Calculation Date. Tenant's monthly installment of the unpaid portion of Tenant's Share of Phase 1 Completion Costs together with interest thereon shall be adjusted on each Payment Calculation Date as follows:
