Borrower’s Equity. Evidence that Borrower and Owner have invested in the Collateral Property or otherwise expended for Project Costs in accordance with the Project Budget Borrower’s Minimum Equity Investment as required under Section 9.1.
Borrower’s Equity. Prior to the Closing Date, the Borrower shall have provided evidence to the Agent’s sole satisfaction of its having contributed total equity in the Project of $60,120,000.
Borrower’s Equity. As of any date of determination, Borrower’s funds expended on Project costs in accordance with this Agreement as of such date, including Borrower’s Funds and capital contributions made by the Tax Credit Investor, but excluding proceeds of the Borrower Loan, as determined by Bank in its sole discretion.
Borrower’s Equity. Permit the stockholder's equity of the Borrower and its Subsidiaries on a consolidated basis determined in accordance with GAAP as of the last day of any fiscal quarter to be less than $650,000,000, but excluding the effect of net unrealized gains and losses included in or excluded from stockholder's equity on account of Statement No. 115 of the Financial Accounting Standards Board and similar accounting rules.
Borrower’s Equity. Except for the Initial Advance, Borrower shall have applied Borrower’s Equity to pay certain Project Costs included in the Project Budget approved by Administrative Agent, and Borrower shall have furnished Administrative Agent with a schedule showing the payment of such funds for Project Costs and evidence of such payment.
Borrower’s Equity. On or prior to the Closing Date, Borrower shall ------------------ have invested cash equity in the Project in an aggregate amount not less than Two Million Eighty-Three Thousand and No/100 Dollars ($2,083,000.00) ("BORROWER'S EQUITY"). Borrower's Equity may be used to purchase the Project.
Borrower’s Equity. Borrower shall ensure that all of Borrower’s Equity is contributed to Borrower by its members upon the terms and conditions that such members have agreed to make a contribution to Borrower’s Equity and shall, upon the request of Agent, provide Agent with an accounting of all equity contributions actually received by Borrower;
Borrower’s Equity. Borrower shall have applied Borrower’s Equity to pay for Project Costs included in the Project Budget, and Borrower shall have furnished Lender with a schedule showing the payment of such funds for Project Costs and evidence of such payment.
Borrower’s Equity. As a condition precedent to Lender’s funding of the Loan on the Closing Date, Borrower shall furnish to Lender evidence establishing to Lender’s satisfaction that the Owner, Borrower and/or Guarantors have directly or indirectly made equity contributions to the Project in the amount of at least $844,982.00, which amount may include up to $435,084.00 of the Development Fee (whether or not such fee is paid, waived or deferred) (“Borrower’s Minimum Equity Investment”). Any contributor of equity shall be subordinate to Lender, provided, however, that any such contributor of equity shall have the right to receive payments with respect to such equity so long as no Default or Event of Default exists.
Borrower’s Equity. As a condition precedent to Lender’s funding of the Loan on the Closing Date, Borrower shall furnish to Lender evidence establishing to Lender’s satisfaction that the Owner, Borrower and/or Guarantors have directly or indirectly made equity contributions to the Project in an amount and/or in a form satisfactory to Lender (“Borrower’s Minimum Equity Investment”), and Borrower may not be indebted to Assignor or any other Person for any such contribution to capital. Any contributor of equity shall be subordinate to Lender.
