Contingency Allocations. Any amount allocated in the Budget for “contingencies” or other non-specific purposes may, in the Lender’s discretion after request by Borrower, or upon Lender’s own election at any time during the existence of an Event of Default, be disbursed by Lender to pay future contingent costs and expenses of constructing, maintaining, leasing and promoting the Mortgaged Property and such other costs or expenses as Lender shall approve. Under no circumstances shall Borrower have the right to require Lender to disburse any amounts so allocated and Lender may impose such requirements and conditions as it deems prudent and necessary should it elect to disburse all or any portion of the amounts so allocated.
Contingency Allocations. Any amount allocated in the Budget for "contingencies" or other non-specific purposes may, in the Lender's discretion, be disbursed by Lender to pay future contingent costs and expenses of maintaining, leasing and promoting the Mortgaged Property and such other costs or expenses as Lender shall approve. Under no circumstances shall the Borrower have the right to require Lender to disburse any amounts so allocated and Lender may impose such requirements and conditions as it deems prudent and necessary should it elect to disburse all or any portion of the amounts so allocated.
Contingency Allocations. Any amount allocated in the Budget for “contingencies” may be disbursed upon the request of the Borrower on a percentage of completion basis without the Lender’s consent. Borrower has the right to request the Lender to disburse amounts on an accelerated basis and the Lender shall not unreasonably withhold its consent to such a request.
Contingency Allocations. Any amount allocated in an Approved Budget for "contingencies" or other non-specific purposes may, in Bank's discretion, be disbursed by Bank to pay contingent costs and expenses of construction costs, maintaining, and promoting the Mortgaged Property and such other costs or expenses as Bank shall approve. Under no circumstances shall the Borrower have the right to require Bank to disburse any amounts so allocated and Bank may impose such requirements and conditions as it deems prudent and necessary should it elect to disburse all or any portion of the amounts so allocated.
Contingency Allocations. Any amount allocated in the Project ------------------------ Budget for "contingencies" or other non-specific purposes may be re-allocated to hard cost line items, but not to soft cost line items. Upon completion of the Improvements, any amount allocated in the Project Budget for "contingencies" or other non-specific purposes may, upon the reasonable approval of the Lender, be reallocated to the Construction Contract Allocation and "soft costs." The Lender shall be deemed to have approved of such reallocation if approval has not been denied five (5) business days after the receipt of such request for approval.
Contingency Allocations. (1) That certain line item amount allocated in the Budget for “Project Contingency” in the original amount of $184,414 may be reallocated by Borrower to any other line item in the Budget (other than to the Development Fee and General Contractor’s Fee line items) without Lender’s prior consent until the unallocated amount remaining in the “Project Contingency” line items is $25,000 at which time any further allocation out of the “Project Contingency” line item will be subject to the prior written consent of Lender, which consent shall not be unreasonably withheld, provided that the foregoing consent shall not be required after Completion.
Contingency Allocations. (1) That certain line item amount allocated in the Budget for “Project Contingency” in the original amount of $184,414 may be reallocated by Borrower to any other line item in the Budget (other than to the Development Fee and General Contractor’s Fee line items) without Lender’s prior consent until the unallocated amount remaining in the “Project Contingency” line items is $25,000 at which time any further allocation out of the “Project Contingency” line item will be subject to the prior written consent of Lender, which consent shall not be unreasonably withheld, provided that the foregoing consent shall not be required after Completion.
