Common use of Disbursement Limits Clause in Contracts

Disbursement Limits. (a) Borrower hereby represents to Lender that, as of the date of this Agreement, the Project Budget represents the total amount needed by Borrower to construct the Improvements and to perform Borrower's obligations under the Loan Documents. Lender shall not be required to make any Advance for any Construction Costs or any other purpose that is not set forth in the Project Budget nor shall Lender be required to make any Advance for any line item in the Project Budget in an amount which when added to the sum of all prior Advances for that line item would exceed the sum allocated in the Project Budget for that line item.

Disbursement Limits. (a) Borrower hereby represents to Lender Bank that, as of the date of this Agreement, the Project Budget represents the total amount needed by Borrower to construct the Improvements and to perform Borrower's ’s obligations under the Loan Documents. Lender Bank shall not be required to make any Advance for any Construction Costs or any other purpose that is not set forth in the Project Budget nor shall Lender Bank be required to make any Advance for any line item in the Project Budget in an amount which when added to the sum of all prior Advances for that line item would exceed the sum allocated in the Project Budget for that line item.

Disbursement Limits. (a) 5.5.1 Borrower hereby represents to Lender Bank that, as of the date of this Agreement, the Project Budget represents the total amount needed by Borrower to construct rehabilitate the Improvements and to perform Borrower's ’s obligations under the Borrower Loan Documents and Funding Loan Documents. Lender Bank shall not be required to make any Advance for any Construction Costs or any other purpose that is not set forth in the Project Budget nor shall Lender Bank be required to make any Advance for any line item in the Project Budget in an amount which that when added to the sum of all prior Advances for that line item would exceed the sum allocated in the Project Budget for that line item.

Disbursement Limits. (a) 5.5.1 Borrower hereby represents to Lender Bank that, as of the date of this Agreement, the Project Budget represents the total amount needed by Borrower to construct the Improvements and to perform Borrower's Borrower‟s obligations under the Borrower Loan Documents and Funding Loan Documents. Lender Bank shall not be required to make any Advance for any Construction Costs or any other purpose that is not set forth in the Project Budget nor shall Lender Bank be required to make any Advance for any line item in the Project Budget in an amount which that when added to the sum of all prior Advances for that line item would exceed the sum allocated in the Project Budget for that line item.