Common use of Borrower’s Deposit Clause in Contracts

Borrower’s Deposit. If at any time Lender shall in its sole discretion deem that the undisbursed proceeds of the Loan are insufficient to meet the costs of completing construction of the Phase II Improvements, plus the costs of insurance, ad valorem taxes and other normal costs of the Phase II Improvements, Lender may refuse to make any additional Advances to Borrower hereunder until Borrower shall have deposited with Lender sufficient additional funds ("Borrower's Deposit") to cover the deficiency which Lender deems to exist. Such Borrower's Deposit will be disbursed by Lender to Borrower pursuant to the terms and conditions hereof as if they constituted a portion of the Loan being made hereunder. Borrower agrees upon fifteen (15) days written demand by Lender to deposit with Lender such Borrower's Deposit. Lender agrees that the Borrower's Deposit shall be placed in an interest-bearing account.

Borrower’s Deposit. If Lender, at any time Lender shall and from time to time, in its sole discretion deem reasonable discretion, deems that the undisbursed proceeds of the Loan are insufficient to meet the costs of completing construction of the Phase II Improvements, Improvements (plus the costs of insurance, ad valorem taxes taxes, and other normal costs of the Phase II Improvements), Lender may refuse to make any additional Advances to Borrower hereunder under this Agreement until Borrower shall have has deposited with Lender a Borrower’s Deposit sufficient additional funds ("Borrower's Deposit") to cover the deficiency which that Lender deems to exist. Such The Borrower's ’s Deposit will shall be disbursed by Lender to Borrower pursuant to the terms and conditions hereof of this Agreement as if they constituted a portion of the Loan being made hereunderLoan. Borrower agrees upon fifteen shall deposit the amount of the Borrower’s Deposit with Lender within thirty (1530) days of written demand from Lender. Unless required by Legal Requirements, Lender to deposit with Lender such Borrower's Deposit. Lender agrees that shall not pay interest on the Borrower's Deposit shall be placed in an interest-bearing account’s Deposit.

Borrower’s Deposit. If at any time Lender shall in its sole discretion deem that the undisbursed proceeds of the Loan are insufficient to meet the costs of completing construction of the Phase II I Improvements, plus the costs of insurance, ad valorem taxes any and other normal costs of all Soft Costs for the Phase II I Improvements, Lender may refuse to make any additional Advances to Borrower hereunder until Borrower shall have deposited with Lender sufficient additional funds ("Borrower's Deposit") to cover the deficiency which Lender deems to exist. Such Borrower's Deposit will be disbursed by Lender to Borrower pursuant to the terms and conditions hereof as if they constituted a portion of the Loan being made hereunder. Borrower agrees upon fifteen (15) days written demand by Lender to deposit with Lender such Borrower's Deposit. Lender agrees that the Borrower's Deposit shall be placed in an interest-bearing account.

Borrower’s Deposit. If at any time Lender shall in its sole discretion deem that the undisbursed proceeds of the Loan are insufficient to meet the costs of completing construction of the Phase II I Improvements, plus the costs of insurance, ad valorem taxes and other normal costs of the Phase II I Improvements, Lender may refuse to make any additional Advances to Borrower hereunder until Borrower shall have deposited with Lender sufficient additional funds ("Borrower's Deposit") to cover the deficiency which Lender deems to exist. Such Borrower's Deposit will be disbursed by Lender to Borrower pursuant to the terms and conditions hereof as if they constituted a portion of the Loan being made hereunder. Borrower agrees upon fifteen (15) days written demand by Lender to deposit with Lender such Borrower's Deposit. Lender agrees that the Borrower's Deposit shall be placed in an interest-bearing account.