Limitation on Disbursements. In addition to the limitation set forth in Section 5(c) with respect to the outside date for any disbursement of the Approved Amount for an Approved Project, in no event will Lessor pay amounts in excess of (A) the lesser of (i) the Actual Cost of an Approved Project or the Approved Amount for any given Approved Project; or (B) the Maximum Funded Amount for all Approved Projects. Lessor shall have no obligation to make any advance of the Approved Amount (i) with respect to a given Approved Project, after the twentieth (20) month after the Approved Project Start Date for such Approved Project, and (ii) after October 31, 2011.
Limitation on Disbursements. In no event will Lessor pay amounts in excess of the lesser of: (i) the amounts actually paid in acquiring the Paris Land and for labor, services or materials incorporated into the Paris Facility; and (ii) the Maximum Funded Amount.
Limitation on Disbursements. Manager shall not disburse any sum in connection with the operation, maintenance or repair of the Property, whether such expenditures are operating or capital expenditures, except (a) as permitted under the Business Plan; (b) if such cost is incurred in connection with a Necessary Expense; (c) expenditures in connection with providing additional services to tenants for which Owner or Manager is entitled to be reimbursed by such tenant or (d) with the prior written consent or approval of Owner.
Limitation on Disbursements. The Lender shall not disburse funds in excess of Five Million Dollars ($5,000,000) for non-equipment expenses until the Borrower has purchased a minimum of Ten Million Dollars ($10,000,000) of equipment forming the assets, which are charged under the GSA;
Limitation on Disbursements. So long as the Forbearance Period shall be continuing, the Borrower and the other Credit Parties agree that they will limit their cash disbursements during each week to the amounts set forth on the Disbursement Schedule attached hereto as Exhibit A (the "Disbursement Schedule"); provided, that if the actual amount of cash disbursements in any week for any category is less than the maximum amount permitted for such week as set forth in the Disbursement Schedule, then such unused excess may be carried over and used in any subsequent week during the Forbearance Period.
Limitation on Disbursements. In no event will Lessor pay amounts in excess of (i) the amounts actually paid out by Lessee for services or materials incorporated into the LTACH Facility; or (ii) the Maximum Funded Amount.
Limitation on Disbursements. In no event will the Escrow Agent pay amounts in excess of the amounts actually paid out by Sellers for services or materials incorporated into the Construction Facilities.
Limitation on Disbursements. If the Lender receives notification to disburse funds in an amount that would result in (i) all outstanding Disbursements under the Tranche A Guaranteed Credit exceeding the Tranche A Commitment, or (ii) all outstanding Disbursements under the Tranche B Guaranteed Credit exceeding the Tranche B Commitment, then it shall only be required to disburse funds in an amount equal to the amount remaining under the Tranche A Commitment or the Tranche B Commitment, as applicable.
Limitation on Disbursements. Anything contained in this Agreement to the contrary notwithstanding, it is expressly understood and agreed that the Bank shall not fund any amounts in excess of in excess of one hundred percent (100%) of the amount of the acquisition loan refinanced by the Loan up to a maximum of $6,300,000, plus seventy-five percent (75%) of Project Costs incurred. If the Bank or the Construction Consultant determine in its sole discretion that the Bank has funded more than one hundred percent (100%) of the amount of the acquisition loan refinanced by the Loan up to a maximum of $6,300,000, plus seventy-five percent (75%) of Project Costs incurred, the Borrower shall, within ten (10) days after written request by the Bank, deposit the amount by which the total aggregate amount of all previous disbursements exceeds one hundred percent (100%) of the amount of the acquisition loan refinanced by the Loan up to a maximum of $6,300,000, plus seventy-five percent (75%) of Project Costs incurred with the Bank, which deposit shall first be exhausted before any further disbursement of the Loan proceeds is made. The Bank shall not be obligated to make any Loan disbursements in excess of one hundred percent (100%) of the amount of the acquisition loan refinanced by the Loan up to a maximum of $6,300,000, plus seventy-five percent (75%) of Project Costs. Whenever the Bank has any such deficiency funds on deposit, such funds, together with any interest thereon, shall be additional security for the Loan and the Borrower hereby grants the Bank a security interest in such funds.
Limitation on Disbursements. Lender is not obligated to advance Loan proceeds: (1) if the amount of Loan proceeds requested is less than $50,000.00; or (2) for any item or category of items in excess of the amount allocated for such item or category in the Budget, unless, in Lender’s judgment, Borrower has sufficient funds (including undisbursed loan proceeds* and Construction Equity) to complete the Work in accordance with the Loan Documents and pay all interest, costs, and other sums required to be paid to Lender before or upon completion of the Work. If any item or category in the Budget is completed at a cost less than the amount allocated for it in the DCS, the surplus from that item or category may be re-allocated for other items or categories only with Xxxxxx’s prior consent, which consent shall not be unreasonably withheld.
