Common use of Limitation on Land Clause in Contracts

Limitation on Land. The Borrower covenants that less than twenty-five percent (25%) of the proceeds of the Governmental Lender Note shall be used, directly or indirectly, for the acquisition of land.

Limitation on Land. The Borrower Governmental Lender covenants that less than twenty-twenty- five percent (25%) of the proceeds of the Governmental Lender Note shall be used, directly or indirectly, for the acquisition of land.

Limitation on Land. The Borrower Governmental Lender covenants that less than twenty-five percent (25%) % of the proceeds of the Governmental Lender Note Notes shall be used, directly or indirectly, for the acquisition of land.