In Balance means, on any occasion, that the amount of the undisbursed Construction Loan and undisbursed Limited Partner's Capital Contribution are sufficient in the Limited Partner's reasonable judgment to pay, through Completion of Construction and maturity of the Construction Loan, where applicable, all of the following sums: (a) all costs of construction, marketing, ownership, maintenance and leasing of the Apartment Housing units; and (b) all interest and all other sums accruing or payable under the Construction Loan documents.
In Balance as defined in the Disbursement Agreement.
In Balance means, on any occasion, when the amount of the undisbursed Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the issuance of a certificate of occupancy (or the local equivalent) are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction and renovation to achieve Completion of Construction and Renovation; (b) all costs of marketing, ownership, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.
Examples of In Balance in a sentence
The amounts available within the line items for Hard Costs Contingency and Soft Costs Contingency from time to time shall be deemed to be costs for purposes of determining whether the Loans are In Balance.
The Property Owner agrees that the decision with respect to utilizing portions of the Contingency Amount in order to keep the CoPACE Loan In Balance shall be made by the Capital Provider in its reasonable discretion.
I release In Balance Physiotherapy & Fitness from any liability in the event of personal injury that may be serious, cause bodily harm or death secondary to a pre-exisitng medical condition.
Notwithstanding the foregoing, if, at any time, Administrative Agent determines, in Administrative Agent’s reasonable discretion, that it is unlikely that Borrower will deliver to Administrative Agent all or a portion of the Other Borrower Moneys, Administrative Agent can exclude such amount from its determination of whether the Loan is In Balance.
Provided that no Event of Default has occurred and is continuing and the loan is In Balance, sums from the Interest Allowance shall be advanced by Lenders as needed for the exclusive purpose of paying accrued interest as it comes due under the Note.
More Definitions of In Balance
In Balance means, with respect to each Project, no Deficiency then exists with respect to such Project.
In Balance has the meaning given to such term in Section 3.06 hereof.
In Balance means, on any occasion, when the amount of the undisbursed Construction Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the issuance of a certificate of occupancy (or the local equivalent) are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction to achieve Completion of Construction; (b) all costs of marketing, ownership, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.
In Balance has the meaning set forth in Section 4.8(a).
In Balance means, at any time when calculated, when the cumulative amount of the undisbursed Construction Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the Completion of Construction are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction to achieve Completion of Construction; (b) all soft costs in the development of the Apartment Housing and Improvements, including but not limited to, architect fees, land acquisition, impact fees and costs of marketing, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.
In Balance has the meaning provided in Section 4.4 of this Agreement.
In Balance means, at any time when calculated, when the cumulative amount of the undisbursed Construction Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the Completion of Construction are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction to achieve Completion of Construction; (b) all soft costs in the development of the Project and Improvements, including but not limited to, architect fees, land acquisition, impact fees and costs of marketing, maintenance and leasing of the Project units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.