Examples of Funding Advances in a sentence
The Priesthood Restoration site in the historic township of Harmony, Pennsylvania (presently known as Oakland Township, Pennsylvania) is the location where Joseph Smith claims to have received the authority to perform gospel ordinances, nine years after the Sacred Grove experience.
All Discretionary Funding Advances, together with a detailed statement of the sources and uses thereof (which shall be broken out by the reimbursable and unreimbursable portions thereof) and description of the allocation to the Loans for which such Discretionary Funding Advance was made, shall be reflected in the Monthly Report with respect to the calendar month during which the relevant Discretionary Funding Advance was made.
In no event may Discretionary Funding Advances be used for payment of any Working Capital Expenses other than Funding Draws.
The Servicer shall not cause funds from any other source (other than interest or earnings on the Loan Proceeds and the proceeds of Excess Working Capital Advances and Discretionary Funding Advances and other funds expressly permitted to be deposited into the Collection Account pursuant to the Custodial and Paying Agency Agreement) to be commingled in the Collection Account.
Without limiting the generality of the foregoing, the Company shall assume on and as of the Closing Date all obligations with respect to funding any Funding Draws and shall consult and coordinate with the Paying Agent concerning any advances from the Working Capital Reserve and the provision of any Discretionary Funding Advances to fund any such construction draws.
In no event may Discretionary Funding Advances be used for payment of any Working Capital Expenses.
Any Discretionary Funding Advances are to be deposited into the Collection Account from which the funds will be available to fund such Funding Draw.
Pursuant to Section 5.3 of the LLC Operating Agreement, the Manager may make, at its discretion, Discretionary Funding Advances from its own funds to the extent there are insufficient funds in the Collection Account and the Working Capital Reserve with which to fund any Funding Draw permitted pursuant to any Loan Documents, which Discretionary Funding Advances are to be designated as applicable only to the Loan for which any Funding Draw is funded.
All Discretionary Funding Advances are to be designated as applicable only to the Asset to which such Discretionary Funding Advance relates.
The proceeds of Discretionary Funding Advances shall be deposited into the Collection Account for disbursement therefrom for the payment of the applicable Permitted Vertical Completion Expenses.