Advances of Loan Proceeds. 2.6.1 Provided Borrower shall have first expended $2,500,000.00 of its initial equity funds in the payment of hard costs listed in the Total Project Budget as certified to by Lender's construction representative or in the payment of soft costs listed in the Total Project Budget as verified by proof satisfactory to Lender; provided Borrower shall not be in default under, and there shall exist no event of default under, this Agreement or the Note, or any of the Security Instruments, or any other agreement or instrument executed in connection herewith, nor shall there exist any condition or event which, with the giving of notice or lapse of time, or both, would constitute such an event of default; provided Borrower shall have complied with the provisions of Section 2.2 hereof; and provided Borrower shall have paid all interest charges then due, and all fees of Lender's construction representative and legal fees incurred in connection with the construction of the Improvements or the Note or the Loan evidenced thereby, and subject to the provisions of Section 2.5 hereof, Lender, upon written application by Borrower (made not less than seven (7) business days prior to the date of the requested advance under this Section 2.6 and made not more often than every thirty (30) days), shall make advances from the Loan Proceeds pari passu with any subordinated loans from MCRC or equity funds in excess of the first $2,500,000.00 of equity as hereinafter specified.
2.6.2 The amount of each such advance, together with advances from MCRC, shall represent:
2.6.2.1 ninety-five percent (95%) of the total "hard costs" incurred by Borrower (i.e., costs incurred under the Construction Contract) and approved by Lender in conformance with the budgeted expenses enumerated in Exhibit D in connection with the construction of the Improvements as of the date of the advance application in excess of funds required to be provided and expended by Borrower under the terms hereof as of the date of said advance application, less any amounts previously advanced by Lender from the Loan Proceeds but in no event more that the amount certified by Lender's construction representative (whose costs and fees shall be borne by the Borrower) as then being due and payable; and
2.6.2.2 such portion of the "soft costs" enumerated in Exhibit D incurred by Borrower in connection with the construction of the Improvements as of the date of the advance application, as Lender in its uncontrolled discretion shall d...
Advances of Loan Proceeds. Lender shall cause proceeds of the Revolving Loans requested by Borrower to which Borrower is entitled under the terms of this Agreement to be disbursed as directed by Borrower.
Advances of Loan Proceeds. All principal advances and servicing advances have been made in a timely fashion and with respect to all HECM Loans, all Scheduled HECM Payments and Unscheduled HECM Payments have been made in accordance with the terms of the Mortgage Note and the provisions of FHA Regulations and the Seller has not failed to make any such advances. Any and all requirements as to completion of any on-site or off-site improvements and/or repairs and any and all requirements as to disbursements of set-aside funds for such improvements and/or repairs have been complied with. All costs, fees and expenses incurred in making or closing the Mortgage Loan and the recording of the Mortgage were paid, and the Mortgagor is not entitled to any refund of any amounts paid or due under the Mortgage Note or Mortgage. All fees and charges (including finance charges) and whether or not financed, assessed, collected or to be collected in connection with the origination and servicing of such Mortgage Loan have been disclosed in writing to the related Mortgagor in accordance with applicable state and federal law and regulation.
Advances of Loan Proceeds. Subject to the continued compliance by the Borrower with all of the terms and conditions of the Loan Documents, the continued satisfactory financial condition of the Borrower, the continued satisfaction of all conditions precedent to the making of advances hereunder, and the continued absence of any default or any event, circumstance, act or omission which with the giving of notice, the passage of time, or both would constitute an Event of Default, the Lender shall advance the Loan Proceeds to the Borrower on the Closing Date.
Advances of Loan Proceeds. Borrower shall request advances and re-advances of the Loan in order to fund renovations to an operations plant owned by Borrower in Zanesville, Ohio, and for short-term-working capital needs by submitting a written request on a form prescribed by Lender, accompanied by such other documentation as Lender shall reasonably request.
Advances of Loan Proceeds. Upon fulfillment of the applicable conditions precedent set forth in this Section 3, Lender shall make Advances to Borrower pursuant to the Schedule set forth in Exhibit B by Lender subject to the conditions precedent to the Advances as set forth below.
Advances of Loan Proceeds. Subject to the continued satisfaction of all conditions precedent to the making of advances set forth in Article 4 hereunder, and the continued absence of any default or any event, circumstance, act or omission which with the giving of notice, the passage of time, or both would constitute an EVENT OF DEFAULT, the LENDER shall advance to the BORROWER by depositing into the COMMERCIAL ACCOUNT from time to time such sums as the BORROWER may request; provided that the aggregate outstanding principal balance of the LOAN at any one time shall never exceed the MAXIMUM LOAN AMOUNT. The BORROWER shall not request any advance under the LOAN which would cause the aggregate amount of advances made to or for the BORROWER and outstanding under the LOAN DOCUMENTS to exceed the limitations as to the maximum amount of advances as herein set forth. Any termination of the LOAN by the LENDER in accordance with the terms of this AGREEMENT shall relieve the LENDER of the LENDER's obligation to lend money or to make financial accommodations to or for the BORROWER and the BORROWER's account pursuant to the LOAN DOCUMENTS, and shall in no way release, terminate, discharge or excuse the BORROWER from its absolute duty to pay or perform the OBLIGATIONS.
Advances of Loan Proceeds. Exclusively from funds provided to CCBE through third-party SAFE grants, CCBE will pay Employee’s tuition, up to the one- half price of in-state tuition for a student enrolled in the Option 6 Program at Western Kentucky University for the benefit of the Employee for up to six semesters (during a period of no more than 36 months) so long as the Employee is eligible under the terms of this agreement and so long as Western Kentucky University pays the other one-half of the tuition. Employee shall have no right to receive, and shall not attempt to receive, a refund from Western Kentucky University of any of the funds paid by CCBE hereunder. Notwithstanding anything herein to the contrary, CCBE shall have no obligation to make any payment except from funds provided by third-party SAFE grants.
Advances of Loan Proceeds. Subject to the continued satisfaction of all conditions precedent to the making of advances hereunder, and the continued absence of any event, circumstance,
Advances of Loan Proceeds. Lender shall advance the Loan as follows:
