Common use of Advances; Outstanding Construction Allowance Clause in Contracts

Advances; Outstanding Construction Allowance. (i) Subject to the conditions set forth below, Landlord shall make advances (herein called "Construction Advances") on Advance Dates from time to time as requested by Tenant to reimburse Tenant for the actual cost of making the Designated Improvements to the Leased Property and for any property taxes or assessments payable prior to the Last Advance Date with respect to the Leased Property. In no event will Construction Advances which may be required of Landlord, when added to Carrying Costs accrued or projected by Landlord to accrue prior to the Carrying Costs Accrual Termination Date as described below, exceed the Maximum Construction Allowance. Notwithstanding the foregoing, if for any reason Stipulated Loss Value (and thus the Outstanding Construction Allowance included as a component thereof) must be determined under this Lease as of any date between Advance Dates, the Outstanding Construction Allowance determined on such date shall equal the Outstanding Construction Allowance on the immediately preceding Advance Date computed in accordance with the preceding sentence, plus Carrying Costs accruing on and after such preceding Advance Date to but not including the date in question.

Advances; Outstanding Construction Allowance. (i) Subject to the conditions set forth below, Landlord shall make advances (herein called "Construction AdvancesCONSTRUCTION ADVANCES") on Advance Dates from time to time as requested by Tenant to reimburse Tenant for the actual cost of making the Designated Improvements Construction Projects or to pay Commitment Fees then due. As used herein, references to the Leased Property and for any property taxes "OUTSTANDING CONSTRUCTION ALLOWANCE" shall mean the difference on the date in question (but not less than zero) of (A) the total Construction Advances made by Landlord on or assessments payable prior to the Last Advance Date with respect to the Leased Property. In no event will Construction Advances which may be required of Landlorddate in question, when added to Carrying Costs accrued less (B) any Qualified Payments received on or projected by Landlord to accrue prior to the Carrying Costs Accrual Termination Date as described belowdate in question; provided, exceed that Landlord will not be under any obligation to readvance any portion of the Maximum Construction AllowanceAllowance repaid by Qualified Payments. Notwithstanding the foregoing, if for any reason Stipulated Loss Value (and thus the Outstanding Construction Allowance included as a component thereof) must be determined under this Lease as of any date between Advance Dates, the Outstanding Construction Allowance determined on such date shall equal the Outstanding Construction Allowance on the immediately preceding Advance Date computed in accordance with the preceding sentence, plus Carrying Costs (if any) accruing on and after such preceding Advance Date to but not including the date in question.

Advances; Outstanding Construction Allowance. (i) Subject to the conditions set forth below, Landlord shall make advances (herein called "Construction Advances") on Advance Dates from time to time as requested by Tenant to reimburse Tenant for the actual cost of making the Designated Improvements Construction Projects or to pay Commitment Fees or Agency Fees then due. As used herein, references to the Leased Property and for any property taxes "Outstanding Construction Allowance" shall mean the difference on the date in question (but not less than zero) of (A) the total Construction Advances made by Landlord on or assessments payable prior to the Last Advance Date with respect to the Leased Property. In no event will Construction Advances which may be required of Landlorddate in question, when added to Carrying Costs accrued less (B) any Qualified Payments received on or projected by Landlord to accrue prior to the Carrying Costs Accrual Termination Date as described belowdate in question; provided, exceed that Landlord will not be under any obligation to readvance any portion of the Maximum Construction AllowanceAllowance repaid by Qualified Payments. Notwithstanding the foregoing, if for any reason Stipulated Loss Value (and thus the Outstanding Construction Allowance included as a component thereof) must be determined under this Lease as of any date between Advance Dates, the Outstanding Construction Allowance determined on such date shall equal the Outstanding Construction Allowance on the immediately preceding Advance Date computed in accordance with the preceding sentence, plus Carrying Costs (if any) accruing on and after such preceding Advance Date to but not including the date in question.