Advance Limitation Sample Clauses

An Advance Limitation clause sets a cap on the amount of money that can be advanced or paid out under a contract before certain conditions are met. Typically, this clause restricts the disbursement of funds to a specified maximum, often until milestones are achieved or documentation is provided. By doing so, it helps manage financial risk and ensures that advances are controlled, protecting the party providing the funds from overexposure or misuse.
Advance Limitation. The aggregate amount of each Advance in respect of a Construction Project shall not exceed 85% of the Budget for such Construction Project, which will include the Costs of Construction and Costs of Acquisition, as approved by Lender. Notwithstanding the foregoing, Lender may adjust the M.A.I. Appraisal for a Construction Project in its sole and absolute discretion to establish an adjusted appraised value for a Parcel(s) (the "Adjusted Appraised Value"). The Adjusted Appraised Value of a Parcel(s) may be used by Lender to calculate the loan to value ratio for the requested Advance, which Lender may, in its sole and absolute discretion, consider during the approval process for such Advance.
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Advance Limitation. The amount of each Advance shall be determined as follows: (i) The amount of each Acquisition Advance shall not exceed the lesser of (1) 85% of the purchase price of the Parcel(s) as approved by Lender, or (2) 85% of the value of the Parcel(s), as determined by the most recent M.A.I. appraisal for such property, dated within one (1) year of the submission of such appraisal(s) to Lender (the "Appraisal"). Notwithstanding the foregoing, Lender may adjust the Appraisal submitted for an Advance in its sole and absolute discretion to establish an adjusted appraised value for such property (the "Adjusted Appraised Value"). The Adjusted Appraised Value of a property may be used by Lender to calculate the loan to value ratio for the requested Acquisition Advance, which Lender may, in its sole and absolute discretion, consider during the approval process for such Advance. (ii) The amount of each Construction Advance shall not exceed the lesser of (1) 85% of the Budget (as defined in the Construction Loan Agreement) for the Construction Project, or (2) 85% of the aggregate principal amount actually disbursed for such Construction Project . BORROWER ACKNOWLEDGES AND AGREES THAT BY VIRTUE OF THE FOREGOING CONDITIONS, BORROWER MAY NEVER RECEIVE ADVANCES UNDER THE LOAN EQUAL TO THE $100,000,000.00 MAXIMUM LOAN AMOUNT.
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Advance Limitation. In addition to any and all limitations and conditions contained herein, Borrower shall not be entitled to an Advance under the Credit Facility which would cause the aggregate outstanding balance of all Advances, together with accrued but unpaid interest thereon, together with all Credit Facility proceeds allocated to be Advanced to complete Houses and A&D Projects that are already included in the Borrowing Base, to exceed the lesser of (i) the amount of the Borrowing Base for the Credit Facility, or (ii) the Credit Facility Amount.
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Advance Limitation. Borrower shall not be entitled to any advance under the Loan which exceeds (x) the lesser of $5,000,000.00 or the amount of the Borrowing Base Limitation at the time in question, minus (y) the outstanding principal balance of the Loan at the time in question.
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Related to Advance Limitation

  • ▇▇▇▇▇▇ Limitation The Service reserves the right to refuse to pay any ▇▇▇▇▇▇ to whom you may direct a payment. As required by applicable law, the Service will notify you promptly if it decides to refuse to pay a ▇▇▇▇▇▇ designated by you. as set forth in Section 13 of the General Terms (Prohibited Payments) or an Exception Payment under this Agreement.

  • Warranty Limitation We do not warrant that the operation of Software will be uninterrupted or error free, or that Software will operate in hardware and Software combinations other than as expressly required by us in the Product specifications or that Software will meet your requirements.

  • Loss Limitation Losses allocated pursuant to Section 3.2 of this Agreement shall not exceed the maximum amount of Losses that can be allocated without causing any Unit Holder to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. In the event some but not all of the Unit Holders would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section 3.2 of this Agreement, the limitation set forth in this Section 3.5 shall be applied on a Unit Holder by Unit Holder basis and Losses not allocable to any Unit Holder as a result of such limitation shall be allocated to the other Unit Holders in accordance with the positive balances in such Unit Holder’s Capital Accounts so as to allocate the maximum permissible Losses to each Unit Holder under Section 1.704-1(b)(2)(ii)(d) of the Regulations.

  • Minimum Amounts; Limitation on Number of Borrowings At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $1,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $1,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.08(e). Borrowings of more than one Type may be outstanding at the same time, provided that there shall not at any time be more than a total of 8 Eurodollar Borrowings outstanding. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.

  • Investment Limitation The Company shall not invest, or otherwise use the proceeds received by the Company from its sale of the Shares in such a manner as would require the Company or any of its subsidiaries to register as an investment company under the Investment Company Act.