Deposit of Funds Advanced. Borrower will immediately deposit all Loan proceeds advanced by Lender in a separate and exclusive account, to be withdrawn and used solely for the purposes permitted under the provisions of this Agreement, and will promptly furnish Lender with evidence thereof.
Appears in 4 contracts
Samples: Loan Agreement (CNL Growth Properties, Inc.), Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp)
Deposit of Funds Advanced. Upon the request of Lender, Borrower will shall immediately deposit all Loan proceeds advanced by Lender from time to time under this Agreement in a separate and exclusive account, to be withdrawn and used solely for the purposes permitted under the provisions of this Agreement, and will shall promptly furnish Lender with evidence thereof.
Appears in 1 contract
Samples: Construction Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
