A&D Draw Requests Sample Clauses

A&D Draw Requests. The allowed amount of each A&D Draw Request shown in the Collateral Verification Certificate shall be subject to the Maximum Facility Amount and all applicable Sub-Limits, in accordance with the approved Budget for the A&D Project set forth on the applicable A&D Project Addendum and determined by the information provided by Borrower in its A&D Draw Request, subject to adjustment based on Lender’s inspections. A&D Draw Requests shall be further limited by the A&D Limitations set forth in paragraph K on SCHEDULE 1 or in the applicable A & D Project Addendum. If applicable, the A&D Draws shall also be made for the payment of interest in accordance with the provisions of Section 2.2.2 above (to the extent provided for in the applicable Budget) and for payment of all other Eligible Costs shown in the Budget for the particular A&D Project, payable by or on behalf of Borrower in connection with the particular A&D Project. The allowed amount of each A&D Draw Request shall be determined, at Lender’s option: (i) by Lender’s review of a detailed report listing all invoices and costs as provided by Borrower and Lender’s confirming physical inspection; (ii) on a percentage completion basis with reference to the schedules included in the applicable approved Budget, as established by a physical inspection of the construction conducted by Lender or its agent (or, at Lender’s sole discretion, as disclosed by the information provided by Borrower in the A&D Draw Request); or (iii) by a combination of the foregoing methods. Lender shall require that Borrower or the applicable Project Guarantor contribute any Equity Funds necessary to pay any portion of Eligible Costs incurred to the date of Borrower’s Collateral Verification Certificate that are not covered by the applicable A&D Draw Request which, unless otherwise agreed to by Lender, in writing, shall be amounts not less than (a) thirty-five percent (35%) of the cost of the A&D Land and (b) twenty percent (20%) of all hard and soft costs incurred from time to time in connection with the applicable Project. The aggregate amount available shall be the total of such Eligible Costs actually paid or incurred by Borrower for each of the cost line items specified in such Budget, but in no event shall the A&D Draw Request for a particular A&D Project exceed the total of all sums allocated to such cost line items, being in the aggregate the A&D Project Allocation. Notwithstanding anything herein to the contrary, Lender, in its sole ...
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Related to A&D Draw Requests

  • Draw Request A Draw Request complying with the provisions of Section 3.1 hereof.

  • Advance Requests Borrower may request that Lender make an Advance by delivering to Lender an Advance Request therefor and Lender shall be entitled to rely on all the information provided by Borrower to Lender on or with the Advance Request. The Lender may honor Advance Requests, instructions or repayments given by the Borrower (if an individual) or by any Authorized Person.

  • Disbursement Requests Except as expressly provided in the Credit Agreement, Administrative Agent must receive Disbursement Requests in writing. Disbursement Requests will only be accepted from the applicable Authorized Representatives designated in the Disbursement Instruction Agreement. Disbursement Requests will be processed subject to satisfactory completion of Administrative Agent’s customer verification procedures. Administrative Agent is only responsible for making a good faith effort to execute each Disbursement Request and may use agents of its choice to execute Disbursement Requests. Funds disbursed pursuant to a Disbursement Request may be transmitted directly to the Receiving Bank, or indirectly to the Receiving Bank through another bank, government agency, or other third party that Administrative Agent considers to be reasonable. Administrative Agent will, in its sole discretion, determine the funds transfer system and the means by which each Disbursement will be made. Administrative Agent may delay or refuse to accept a Disbursement Request if the Disbursement would: (i) violate the terms of this Agreement; (ii) require use of a bank unacceptable to Administrative Agent or Lenders or prohibited by government authority; (iii) cause Administrative Agent or Lenders to violate any Federal Reserve or other regulatory risk control program or guideline; or (iv) otherwise cause Administrative Agent or Lenders to violate any applicable law or regulation.

  • Determinations to Honor Drawing Requests In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the Issuing Lender shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit.

  • Determination to Honor Drawing Request In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the LC Bank shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth.

  • Borrowing Requests Whenever the Borrower desires to make a ------------------ Borrowing hereunder, it shall give Advance Notice in the form of a Borrowing Request, specifying, subject to the provisions hereof, (i) the aggregate principal amount of the Loans to be made pursuant to such Borrowing, (ii) the date of Borrowing (which shall be a Business Day), (iii) whether the Loans being made pursuant to such Borrowing are to be ABR Loans or Eurodollar Loans, and (iv) in the case of Eurodollar Loans, the Interest Period to be applicable thereto.

  • Loan Requests To obtain a Loan, Borrower shall make a request to Silicon by facsimile or telephone. Loan requests received after 12:00 Noon will not be considered by Silicon until the next Business Day. Silicon may rely on any telephone request for a Loan given by a person whom Silicon believes is an authorized representative of Borrower, and Borrower will indemnify Silicon for any loss Silicon suffers as a result of that reliance.

  • Advance Request To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least one (1) Business Day before the Closing Date and at least five (5) Business Days before each Advance Date other than the Closing Date) to Agent. The Lenders shall fund the Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan Advance is satisfied as of the requested Advance Date.

  • Consecutive Advance Notices Except with respect to the first Advance Notice, the Company shall have delivered all Shares relating to all prior Advances.

  • Request for Borrowing The Administrative Agent shall have received a Request for Borrowing or Request for Letter of Credit, together with a Borrowing Base Certificate;

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