Advance Funds. Custodian, in its sole discretion, may advance funds to or for the benefit of Account in connection with the settlement of securities or currency transactions or other activity in the Account including overdrafts or other indebtedness incurred in connection with the Account transactions. Principal agrees to reimburse Custodian on demand the amount of the advance or overdraft and any related fees and interest as established in Custodian's fee schedule or as otherwise established by Custodian. Principal will bear the risk from any currency valuation differences associated with Principal’s reimbursement obligations to Custodian. Custodian shall also have the right to utilize any cash in the Account in order to obtain reimbursement hereunder and to setoff Custodian’s obligations with respect to any deposits or credit balances in the Account against any obligation of Principal hereunder.
Advance Funds. If Custodian advances funds to or for the benefit of Account in connection with the settlement of securities or currency transactions or other activity in the Account including overdrafts or other indebtedness incurred in connection with the settlement of securities transactions, maturity or income payments or funds transfers, Principal agrees to reimburse Custodian on demand the amount of the advance or overdraft and all related fees as established in Custodian's published fee schedule. Principal will bear the risk from any currency valuation differences associated with Principal’s reimbursement obligations to Custodian.
Advance Funds. Manager shall not be obligated to advance any of its own funds for the maintenance and operation of the Hotels or for the account of Owner, nor to incur any liability with respect to the Hotels. However, if manager shall have advanced funds for any necessary and appropriate expenses, Owner shall reimburse manager therefore on demand. In the event Manager advances funds for the maintenance and operation of the Hotels or for the account of Owner, Owner shall pay Manager interest on the advanced funds at a rate to be determined by the parties.
Advance Funds. If the Defaulting Member does not contribute the Mandatory Additional Capital Contribution within the fifteen (15) day period following notice from the Company of default, the Management Committee may elect to permit non-defaulting Members to advance funds to the Company to cover those amounts that the Defaulting Member fails to contribute. Amounts that a non-Defaulting Member so advances on behalf of the Defaulting Member will become a demand loan due and owing from the Defaulting Member to such non-defaulting Member, bearing interest at the rate per annum of one hundred fifty (150) basis points above the Reference Rate as in effect on the date such Mandatory Additional Capital Contribution was originally due, with such interest being payable monthly. All cash distributions otherwise distributable to the Defaulting Member under this Agreement will instead be paid, on the Defaulting Member's behalf, to the non-Defaulting Members making such advances until such advances and any accrued but unpaid interest thereon are paid in full. Any amounts repaid will first be applied to interest and thereafter to principal. Effective upon a Member becoming a Defaulting Member, such Member will grant to the non-Defaulting Members who advance funds under this Section 3.4.2
Advance Funds. If the Defaulting Member does not contribute its Additional Capital Contribution within the 15 day period following the dispatch of written notice from the Company of an Event of Default, the Management Committee may elect to permit non-Defaulting Members to advance funds to the Company to cover those amounts that the Defaulting Member fails to contribute. Amounts that a non-Defaulting Member so advances on behalf of the Defaulting Member will become a loan due and owing from the Defaulting Member to such non-Defaulting Member and bear interest at the rate per annum of 150 basis points above the referenced rate of the Bank of America (or any successor bank) as in effect on the date such Additional Capital Contribution was originally due, with such interest being payable monthly. All cash distributions otherwise distributable to the Defaulting Member under this Agreement will instead be paid to the non-Defaulting Members making such advances until such advances and any accrued but unpaid interest thereon are paid in full. Any amount repaid will first be applied to interest and thereafter to principal. Effective upon a Member becoming a Defaulting Member, such Member shall grant to the non-Defaulting Members who advance funds under this subsection (1) a security interest in such Defaulting Member's Membership Interest to secure its obligation to repay such advances, and hereby agrees to execute and deliver a promissory note, a security agreement, and such UCC-1 financing statements and assignments of certificates of membership (or other documents of security or transfer) in such form as such non-Defaulting Members may reasonably request.
Advance Funds. If Custodian advances funds to or for the benefit of Account in connection with the settlement of securities or currency transactions or other activity in the Account including overdrafts incurred in connection with the settlement of securities transactions, maturity or income payments or funds transfers, Principal agrees to reimburse Custodian on demand the amount of the advance or overdraft and, provided such advances or overdrafts are not related to Custodian errors or omissions, all related fees as established in Custodian's published fee schedule, Principal will bear the risk from any currency valuation differences associated with Principals reimbursement obligations to Custodian.
Advance Funds. If Custodian advances funds to or for the benefit of Account in connection with the settlement of securities or currency transactions or other activity in the Account including overdrafts or other indebtedness incurred in connection with the settlement of securities transactions, maturity or income payments or funds transfers, Principal agrees to reimburse Custodian on demand the amount of the advance or overdraft and all related fees as established in Custodian's published fee schedule. Principal will bear the risk from any currency valuation differences associated with Principal's reimbursement obligations to Custodian. If Principal fails to timely reimburse Custodian, Custodian shall also have the right to utilize any cash in the Account in order to obtain reimbursement hereunder and to setoff Custodian's obligations with respect to any deposits or credit balances in the Account against any obligation of Principal hereunder.
Advance Funds. Upon the delivery of a Trustee Request, TxDOT shall, from money appropriated by the Texas State Legislature in a manner that would allow its use for this purpose, advance the funds specified in the Trustee Request within three Business Days of the delivery of such request; provided, however, that no such advance shall exceed the Maximum Permitted Amount, or cause the aggregate amount of the advances made for such Draw Period to exceed the Maximum Available Annual Amount, or cause the aggregate amount of all advances to exceed the Maximum Available Aggregate Amount. TxDOT covenants that it will submit a request in accordance with applicable law to obtain an appropriation from the Texas Legislature to fulfill its obligation to make advances under the Toll Equity Loan Commitment as provided in this Agreement, but not to exceed the Maximum Available Annual Amount for the Draw Periods included in the legislative request.
Advance Funds. The Lender may advance funds under this Agreement to pay: (i) the costs and expenses of performing the Borrower’s obligations under this Agreement or any of the Loan Documents or curing a default by Borrower; (ii) claims or liens with priority over any interest of the Lender under any of the Loan Documents; and (iii) any cost to protect the Project from hazards, damage, vandalism, waste, weather or other risks.
Advance Funds. The [City/Village] hereby acknowledges receipt from Developer of funds in the amount of and 00/100 Dollars ($ .00) to be held by the [City/Village] and used as advance funding of the [City/Village]’s costs and fees in connection with consideration by the [Council/Board] of the legality, appropriateness, and desirability of the Local Incentives, as set forth in the Recitals and in this Agreement (the “Advanced Funds”). The [City/Village] shall allocate and use the Advanced Funds as a source of reimbursement of actual costs previously incurred and to be incurred by or on behalf of the [City/Village] and for all costs related to the consideration of the Local Incentives and the Development, including, without limitation, legal, professional, and consulting costs associated with review and refinement of the Local Incentives and the Development to assure compliance with statutory requirements; preparation and negotiation of a definitive development agreement between the [City/Village] and Developer; and preparation of other associated documentation, authorizing ordinances and other approving documents (collectively, the “Work Program”). All components of the Work Program shall be performed by [City/Village] staff, attorneys, or professional consultants at their respective regular rates, (collectively, the “Fees”) and the [City/Village] shall pay for such work only in accordance with paragraph 2 below.
