Common use of Advances for Sums Due to Lender Clause in Contracts

Advances for Sums Due to Lender. Lender will advance to itself, when due, from the proceeds of the Loans, without further order or request from Borrower, all interest payable to Lender under the terms hereof or of the Notes (so long as the conditions to such Advance have been satisfied, or waived by Lender, and sufficient funds remain in the Interest Reserve), and may, at Lender's option, without any obligation to do so, advance to itself all other sums due or to become due to Lender under this Agreement or under any of the other Loan Documents, including but not limited to its fees, attorneys' fees, Project Inspector fees, Appraisal fees, internal Appraisal review fees and other fees, administrative fees and expenses, syndication and transfer costs, and all other out-of-pocket costs and expenses incurred by Lender in connection with this Agreement and with the Loans. Lender shall also have the right, but not the obligation, to advance and directly apply the proceeds of the Loans to the satisfaction of any of Borrower's other obligations hereunder or under any of the other Loan Documents. If the total amount of the Loans exceeds the amount needed to fully pay all items set forth on the Budget approved by Lender, Lender shall not be required to advance, and Borrower shall not be entitled to receive, the excess.

Advances for Sums Due to Lender. Lender will advance to itself, when due, from the proceeds of the Loans, without further order or request from Borrower, all interest payable to Lender under the terms hereof or of the Notes (so long as the conditions to such Advance have been satisfied, or waived by Lender, and sufficient funds remain in the Interest Reserve), and may, at Lender's option, without any obligation to do so, advance to itself all other sums due or to become due to Lender under this Agreement or under any of the other Loan Documents, including but not limited to its fees, attorneys' fees, Project Inspector fees, Appraisal fees, internal Appraisal review fees and other fees, administrative fees and expenses, syndication and transfer costs, and all other out-of-pocket costs and expenses incurred by Lender in connection with this Agreement and with the Loans. Lender shall also have the right, but not the obligation, to advance and directly apply the proceeds of the Loans to the satisfaction of any of BorrowerXxxxxxxx's other obligations hereunder or under any of the other Loan Documents. If the total amount of the Loans exceeds the amount needed to fully pay all items set forth on the Budget approved by Lender, Lender shall not be required to advance, and Borrower shall not be entitled to receive, the excess.

Advances for Sums Due to Lender. Lender will advance to itself, when due, from the proceeds of the LoansLoan, without further order or request from Borrower, all interest payable to Lender under the terms hereof or of the Notes Note (so long as the conditions to such Advance have been satisfied, or waived by Lender, and sufficient funds remain in the Interest Reserve), and may, at Lender's option, without any obligation to do so, advance to itself all other sums due or to become due to Lender under this Agreement or under any of the other Loan Documents, including but not limited to its fees, attorneys' fees, Project Inspector fees, Appraisal fees, internal Appraisal review fees and other fees, administrative fees and expenses, syndication and transfer costs, and all other out-of-pocket costs and expenses incurred by Lender in connection with this Agreement and with the LoansLoan. Lender shall also have the right, but not the obligation, to advance and directly apply the proceeds of the Loans Loan to the satisfaction of any of Borrower's other obligations hereunder or under any of the other Loan Documents. Documents.‌ If the total amount of the Loans Loan exceeds the amount needed to fully pay all items set forth on the Budget approved by Lender, Lender shall not be required to advance, and Borrower shall not be entitled to receive, the excess.

Advances for Sums Due to Lender. Lender will advance to itself, when due, from the proceeds of the LoansLoan, without further order or request from Borrower, all interest payable to Lender under the terms hereof or of the Notes Note (so long as the conditions to such Advance have been satisfied, or waived by Lender, and sufficient funds remain in the Interest Reserve), and may, at Lender's ’s option, without any obligation to do so, advance to itself all other sums due or to become due to Lender under this Agreement or under any of the other Loan Documents, including but not limited to its fees, reasonable attorneys' ’ fees, Project Inspector fees, Appraisal fees, internal Appraisal review fees and other fees, administrative fees and expenses, syndication and transfer costs, and all other out-of-pocket costs and expenses incurred by Lender in connection with this Agreement and with the LoansLoan. Lender shall also have the right, but not the obligation, to advance and directly apply the proceeds of the Loans Loan to the satisfaction of any of Borrower's ’s other obligations hereunder or under any of the other Loan Documents. If the total amount of the Loans Loan exceeds the amount needed to fully pay all items set forth on the Budget approved by Lender, Lender shall not be required to advance, and Borrower shall not be entitled to receive, the excess.