Amount of DRAW REQUEST Sample Clauses

Amount of DRAW REQUEST. Each DRAW REQUEST shall be limited to amounts equal to (i) the total of costs actually incurred and paid or owing by the BORROWER to the date of such DRAW REQUEST for work performed or materials incorporated in the PROJECT as described in the PLANS, plus (ii) the cost of materials and equipment not incorporated in the PROJECT, but delivered to and suitably stored at the PROPERTY, plus (iii) prepayments for equipment when prepayment is required by the manufacturer or supplier; less, (iv) prior disbursements for such costs and from the EXPANSION LOAN or BORROWER’s WORKING CAPITAL for such costs. Notwithstanding anything herein to the contrary, no disbursements for materials stored at the PROJECT site will be made by the BANK unless the BORROWER shall advise the BANK of its intention to store materials prior to their delivery, and provide suitable security for such storage.
Sample 1See All (5)
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Amount of DRAW REQUEST. Each DRAW REQUEST shall be limited to amounts equal to (i) the total of costs actually incurred and paid or owing by BORROWER to the date of such DRAW REQUEST for work performed or materials incorporated in the PROJECT as described in the PLANS, plus (ii) the cost of materials and equipment not incorporated in the PROJECT, but delivered to and suitably stored at the PROJECT site, plus (iii) prepayments for equipment when prepayment is required by the manufacturer or supplier or, with ADMINISTRATIVE AGENT’s prior written approval, when such prepayment results in a material financial benefit to BORROWER; plus (iv) any other hard or soft costs which are consistent with the TOTAL PROJECT COST STATEMENT approved by ADMINISTRATIVE AGENT, as modified or supplemented by any CONSTRUCTION VARIANCE REPORT approved by ADMINISTRATIVE AGENT, for which a disbursement under the CONSTRUCTION LOAN is available as demonstrated in the SOURCES AND USES OF FUNDS; less, (v) prior disbursements for such costs and from the CONSTRUCTION LOAN or BORROWER’s WORKING CAPITAL for such costs. Notwithstanding anything herein to the contrary, no disbursements for materials stored at the PROJECT site will be made by ADMINISTRATIVE AGENT unless BORROWER shall advise ADMINISTRATIVE AGENT of its intention to store materials prior to their delivery, and provide suitable security for such storage. No advances on the CONSTRUCTION LOAN may be repaid and re-advanced.
Sample 1Sample 2See All (4)
Amount of DRAW REQUEST. Each Draw Request shall be limited to the amount provided for in the Disbursing Agreement.
Sample 1Sample 2
Amount of DRAW REQUEST. Each Draw Request shall be limited to amounts equal to (a) the total of costs actually incurred and paid or owing by the Borrower to the date of such Draw Request for work performed or materials incorporated in the Project as described in the Plans, plus (b) the cost of materials and equipment not incorporated in the Project, but delivered to and suitably stored at the Project site, plus (c) prepayments for equipment when prepayment is required by the manufacturer or supplier; less (d) prior disbursements for such costs and from the Construction Loan or the Borrower’s Working Capital for such costs. Notwithstanding anything herein to the contrary, no disbursements for materials stored at the Project site will be made by the Bank unless the Borrower shall advise the Bank of its intention to store materials prior to their delivery, and provide suitable security for such storage.
Sample 1
Amount of DRAW REQUEST. Each DRAW REQUEST shall be limited to amounts equal to (i) the total of costs actually incurred and paid or owing by the BORROWER to the date of such DRAW REQUEST for work performed or materials incorporated in the PROJECT as described in the PLANS, plus (ii) the cost of materials and equipment not incorporated in the PROJECT, but delivered to and suitably stored at the PROJECT site, plus (iii) prepayments for equipment when prepayment is required by the manufacturer or supplier; less, (iv) prior disbursements for such costs and from the CONSTRUCTION LOAN or BORROWER’s WORKING CAPITAL for such costs. Notwithstanding anything herein to the contrary, no disbursements for materials stored at the PROJECT site will be made by the BANK unless the BORROWER shall advise the BANK of its intention to store materials prior to their delivery, and provide suitable security for such storage. Provided, however, the amount of the initial ten DRAW REQUESTS shall be in minimum amounts of $600,000.00 each. Further provided, however, as to the first ten DRAW REQUESTS as the result of the GENERAL CONTRACTOR’s agreement for capital injection into BORROWER, BANK shall pay to GENERAL CONTRACTOR an amount equal to $600,000.00 less than the amount of each such DRAW REQUEST, in full satisfaction of BORROWER’s obligations to the GENERAL CONTRACTOR for such DRAW REQUEST.
Sample 1
Amount of DRAW REQUEST. Each Draw Request shall be limited to amounts equal to (a) the total of approved construction costs actually incurred and paid or owing by the Borrower to the date of such Draw Request for work performed, materials, or equipment incorporated in the Expansion Facility as described in the Expansion Facility Plans, plus (b) the cost of materials or equipment not incorporated in the Expansion Facility but delivered to and suitably stored at the Expansion Facility site, plus (c) prepayments for materials or equipment for the Expansion Facility when prepayment is required by the manufacturer or supplier or when such prepayment results in a material financial benefit to Borrower; less (d) prior disbursements under this Agreement for such approved construction costs from the Construction Loan or the Borrower’s equity for such approved construction costs and less (e) any retainage permitted to be withheld by the Borrower in connection with such Draw Request pursuant to the Design/Build Construction Contract and all other contracts for Other Project Construction. Notwithstanding anything herein to the contrary, no disbursements for materials stored at the Expansion Facility site will be made by the Bank unless the Borrower shall advise the Bank of its intention to store materials prior to their delivery, and provide suitable security for such storage.
Sample 1

Related to Amount of DRAW REQUEST

  • Draw Request At such time as the Borrower shall desire to obtain, subject to the other requirements hereof, a disbursement of any portion of the proceeds of the Loan, the Borrower shall complete, execute and deliver to the City a properly completed draw request in a form designated by the City, together with the General Contractor's Payment Request which shall have been approved by the City's Inspector and by such other documents as the City may request ("Draw Request"), all in such form as the City may require from time to time. No failure or delay on the part of the City to require any such documents or information shall operate in any way so as to waive the City's rights to require all such documents and information at a later time. Draw requests will occur no more often than monthly, only with proper certification of completion from the Architect, and with the xxxxx 0% retainage being paid only after receipt of a Certificate of Occupancy and Release of Liens. All draw disbursements shall be made in accordance with the Escrow and Disbursing Agreement.

  • Amount of Loan The Loan shall comprise the aggregate amount of Tranches disbursed by the Bank under the Credit, as confirmed by the Bank pursuant to Article 2.03.

  • Amount of facility Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrower a senior secured post-delivery term loan facility of up to $460,000,000, in two Advances, for the purpose stated in the preamble to this Agreement.

  • Amount of Borrowing Tranche Each Borrowing Tranche of Loans under the LIBOR Rate Option shall be in integral multiples of $500,000 and not less than $1,000,000; and

  • Determination to Honor Drawing Request In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, Agent shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth.

  • Minimum Amount of Each Borrowing; Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Loans shall be in a multiple of $100,000 and shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on any date; provided that at no time shall there be outstanding more than four (4) Borrowings of LIBOR Loans under this Agreement.

  • Advance Request To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least one (1) Business Day before the Closing Date and at least five (5) Business Days before each Advance Date other than the Closing Date) to Agent. The Lenders shall fund the Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan Advance is satisfied as of the requested Advance Date.

  • Amount of Swing Line Loans Upon the satisfaction of the conditions precedent set forth in Section 4.2 and, if such Swing Line Loan is to be made on the date of the initial Credit Extension hereunder, the satisfaction of the conditions precedent set forth in Section 4.1 as well, from and including the Restatement Effective Date and prior to the Facility Termination Date, the Swing Line Lender agrees, on the terms and conditions set forth in this Agreement, to make Swing Line Loans in Dollars to the Borrower from time to time in an aggregate principal amount not to exceed the Swing Line Commitment, provided that (i) the Aggregate Outstanding Credit Exposure shall not at any time exceed the Aggregate Commitment and (ii) at no time shall the sum of (a) the Swing Line Loans then outstanding, plus (b) the outstanding Revolving Loans made by the Swing Line Lender pursuant to Section 2.1 (including its participation in any Facility LCs), exceed the Swing Line Lender’s Commitment at such time. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Swing Line Loans at any time prior to the Facility Termination Date.

  • Minimum Amount of Each Borrowing The aggregate principal amount of each Borrowing of Loans shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on the same date, but at no time shall there be outstanding more than 15 Borrowings of Euro Rate Loans.

  • Notice of Borrowing; Letter of Credit Request (a) Prior to the making of each Term Loan, the Administrative Agent shall have received a Notice of Borrowing (whether in writing or by telephone) meeting the requirements of Section 2.3. (b) Prior to the making of each Revolving Credit Loan (other than any Revolving Credit Loan made pursuant to Section 3.4(a)) and each Swingline Loan, the Administrative Agent shall have received a Notice of Borrowing (whether in writing or by telephone) meeting the requirements of Section 2.3. (c) Prior to the issuance of each Letter of Credit, the Administrative Agent and the Letter of Credit Issuer shall have received a Letter of Credit Request meeting the requirements of Section 3.2(a). The acceptance of the benefits of each Credit Event shall constitute a representation and warranty by each Credit Party to each of the Lenders that all the applicable conditions specified in Section 7 above have been satisfied as of that time.

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