Common use of Borrower Required to Pay Costs in Event Project Fund Insufficient Clause in Contracts

Borrower Required to Pay Costs in Event Project Fund Insufficient. In the event that money in the Project Fund is not sufficient to pay all costs of providing the Project, the Borrower shall, nonetheless, complete the Project and shall pay all costs of such completion in full from its own funds. The Borrower shall not be entitled to any reimbursement for such completion costs from the Issuer, the Credit Enhancer or any Trustee, Registrar or Paying Agent, nor shall it be entitled to any abatement, diminution or postponement of Loan Payments.

Appears in 2 contracts

Samples: Loan Agreement (RBC Bearings INC), Loan Agreement (Bremen Bearings Inc)

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Borrower Required to Pay Costs in Event Project Fund Insufficient. In the event that money If moneys in the Project Fund is are not sufficient to pay all costs of providing the ProjectProject Costs, the Borrower shall, nonetheless, nonetheless shall complete the Project in accordance with Exhibit B attached hereto and shall pay all costs of such completion in full from its own fundsadditional Project Costs. The Borrower shall not be entitled to any reimbursement for any such completion costs payments from the Issuer, the Credit Enhancer Trustee, the Bank, the Participating Bank or any Trustee, Registrar or Paying Agent, Holder; nor shall it be entitled to any abatement, diminution or postponement of the Loan Payments.

Appears in 2 contracts

Samples: Loan Agreement (Neose Technologies Inc), Loan Agreement (Brazos Sportswear Inc /De/)

Borrower Required to Pay Costs in Event Project Fund Insufficient. In the event that money If moneys in the Project Fund is are not sufficient to pay all costs of providing the Project, the Borrower shallBorrower, nonetheless, will complete the Project in accordance with the Plans and Specifications, and shall pay all such additional costs of such completion in full the Project from its the Borrower's own funds. The Borrower shall not be entitled to any reimbursement for any such completion additional costs of the Project from the IssuerAuthority, the Credit Enhancer Trustee or any Trustee, Registrar or Paying Agent, Owner; nor shall it be entitled to any abatement, diminution or postponement of its obligation to make the Loan Payments.

Appears in 1 contract

Samples: Loan Agreement (Dynagen Inc)

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Borrower Required to Pay Costs in Event Project Fund Insufficient. In the event that money If moneys in the Project Fund is are not sufficient to pay all costs of providing the ProjectProject Costs, the Borrower shall, nonetheless, nonetheless shall complete the Project in accordance with Exhibit A attached hereto and shall pay all costs of such completion in full from its own fundsadditional Project Costs. The Borrower shall not be entitled to any reimbursement for any such completion costs payments from the Issuer, the Credit Enhancer Trustee, the Bank or any Trustee, Registrar or Paying Agent, Holder; nor shall it be entitled to any abatement, diminution or postponement of the Loan Payments.

Appears in 1 contract

Samples: Loan Agreement

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