Equity Requirements. Developer shall have and maintain Committed Investments totaling not less than ten percent (10%) of the Total Project Capital Cost, less the cumulative Milestone Payments (each expressed in year of expenditure terms), throughout the period between the date of Financial Close and the Substantial Completion Date, except to the extent:
Equity Requirements. If Bank determines that costs of acquisition of a SLF exceed the amount specified on the Loan Summary, which includes certain specified amounts of "up front" equity and deferred equity to be paid by Borrower, or if Bank at any time determines in its reasonable discretion that the Loan proceeds plus the amount of all equity investments made are not sufficient to meet the Bank's underwriting policies, and to pay all other sums due, then Bank shall, upon written Notice to Borrower, have the option of requiring Borrower to deposit with Bank additional funds from some other source (or submit evidence to Bank of equity investments previously made) in amounts sufficient to cover the anticipated or resulting deficit before Bank will disburse any additional Loan proceeds.
Equity Requirements. If Bank at any time determines in its reasonable discretion that the Loan proceeds plus the amount of all equity investments made or scheduled to be made are not sufficient to fully complete the Improvements in accordance with the Plans and to pay all other sums due under the Loan Documents, then Bank shall have the option of requiring Borrower to deposit with Bank additional funds from some other source (or submit evidence to Bank of equity investments previously made) in amounts sufficient to cover the resulting deficit before Bank will disburse any additional Loan proceeds. Deposited funds shall be advanced as construction progresses in accordance with this Loan Agreement before any additional Loan disbursements are made.
Equity Requirements. (a) In order to further align the Executive’s incentives with those of the Stockholders, the Executive shall be required to own prior to the later of: (i) December 31, 2011 or (ii) the close of business on the 33rd Open Trading Day (as defined below) following the date of the execution of this Agreement, common stock of SMTC Corporation with a current market value or cost basis of at least $50,000 (the “Requisite Stock Ownership”). The Executive shall be required to maintain the Requisite Stock Ownership for the duration of his employment hereunder. For the purposes hereof, the term “
Equity Requirements. The equity re- quirements of § 1980.441 of this subpart do not apply to BIB loans.
Equity Requirements. The equity re- quirements of § 1980.441 of this subpart do not apply to BID loans.
Equity Requirements. Borrower agrees to provide an aggregate equity contribution of no less than an amount equal to the greatest of (i) TEN MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($10,500,000.00), (ii) thirty-three percent (33.0%) of the Project Costs, or (iii) the Project Costs less the Loan Amount. All cash equity contributions to be provided pursuant to this Section or otherwise shall be funding into the designated account indicated in Section 5.31.
Equity Requirements. Private sector developers must invest a minimum of 10% of the project’s lending value for the project unless they have a partnership with a non-profit and/or charitable organization which would then lower the equity contribution to a minimum of 4%. Charitable and non-profit organizations are not required to have owner’s equity in their project to be eligible for funding. Projects proposed by non-profit or charitable organizations are still expected to meet all other program requirements and to compete for the amount of funding requested. 🏱 All proponents must complete the Statement of Equity Contributions (Form 13). Evidence of minimum equity contribution from proponent’s own resources or from third parties other than NRH must be provided and attached to Form 13. 🏱 If equity requirement is in the form of land, this must be identified on the Proof of Ownership, Option to Purchase or Leasehold Interest in Land (Form 15).
Equity Requirements. Prior to the Loan Opening Date, Borrower shall have contributed an equity investment in the Project equal to twenty (20%) percent of acquisition costs and a minimum of twenty (20%) percent of all Project Costs. Thereafter, Borrower shall provide additional equity in amounts sufficient to keep the Loan In Balance, as provided in Section 6.4 hereof. The Equity Requirement shall be subject to Lender’s verification of the sources thereof and the timing and manner of funding.
Equity Requirements. Borrower shall furnish equity in the amount of the Equity Requirements for the Project, including the acquisition of the Land and construction of the Project. Such amount shall be so disbursed prior to any disbursement of Loan Proceeds. The amount of the Equity Requirements represented by the Land and any improvements thereon shall be valued at the cost to the Borrower of the Land and such improvements, unless otherwise approved by Lender. Lender shall not be required to accept any portion of the Equity Requirements in a form other than cash.
