Loan Balance. Borrower acknowledges as correct the outstanding principal balance of the Loan and accrued and unpaid interest, as set forth on the Loan Schedule, as of the dates there stated.
Loan Balance. Loan balance means all unpaid contract loans and accrued loan interest. We will deduct any outstanding loan balance from the contract Proceeds. Your contract is terminated whenever your Cash Surrender Value is no longer positive. We will mail notice to your last known address recorded with us and to the holder of any assignment of record at least 31 days before such termination.
Loan Balance. The term “Loan Balance” shall mean the principal amount CIRM distributes to Loan Recipient pursuant to any Disbursement plus accrued interest thereon, less any prepayment(s) made under Section 4.7(a).
Loan Balance. The foregoing recitals are true and correct and are incorporated herein by reference. Borrower and Lender acknowledge and agree that as of February 28, 1997, the outstanding principal balance of the Note is Zero and No/100 Dollars ($0.00), but that letters of credit have been issued by Lender for the account of Borrower in the aggregate amount of Two Million Two Hundred Fourteen Thousand Eighty-Five and No/100 Dollars ($2,214,085.00), thereby reducing availability under the Note.
Loan Balance. The foregoing recitals are true and correct and are incorporated herein by reference. Borrower and Lender acknowledge and agree that as of May 31, 1999, the outstanding principal balance of the Note is Six Million Three Hundred Eighty-Six Thousand Two Hundred Eighty-Eight and 93/100 Dollars ($6,386,288.93).
Loan Balance. Anything in this Agreement contained to the contrary notwithstanding, it is expressly understood and agreed that the Loan shall at all times be in balance. The Loan shall be deemed to be in balance only at such time and from time to time as the Bank may determine that the aggregate of the undisbursed Bond Proceeds (and after provision for any reallocation then permissible pursuant to Paragraph 9(j)) above and applicable Retainage, if any) is sufficient to pay the aggregate of the cost of completing the Construction of the Improvements and the other costs contemplated in the Budget, as estimated by the Bank and the Bank's Consultant, including, without limitation, the undisbursed contingency amount provided for in the Budget and the payment of interest due with respect to the Loan through the then-anticipated Date of Substantial Completion. The Company agrees that, if the Bank determines than the amount of such undisbursed Bond Proceeds shall at any time be or become insufficient for such purpose regardless of how such condition may be caused, then as a condition precedent to the Bank's direction or authorization of the Trustee to make any further Disbursements, the Company shall deposit with the Bank cash or equivalent security or such other security as is acceptable to the Bank in its sole and absolute discretion in an amount reasonably determined by the Bank to eliminate such deficiency. In determining the cost of completing any portion of the Construction of the Improvements which is the subject of a fixed price contract or a guaranteed maximum price contract, (a) a reasonable contingency, as determined by the Bank, shall be added to the face amount of such fixed price contract or guaranteed maximum price contract, as the case may be, and (b) the Bank shall consider the value of work relating to the Construction of the Improvements for which a contract has been entered into and the value of such work for which a contract has not been entered into. Any funds deposited with the Bank pursuant to this Paragraph 9(k) on account of any deficiency may be applied by the Bank to pay costs of the Line Items as to which such projected or anticipated deficiencies exist before the Bank shall direct or authorize the Trustee to disburse proceeds of the Loan to pay such costs. In the event that the Company shall deposit cash or deliver other security as aforesaid, and if, after completion of the portion of the Improvements with respect to which such deficiency was clai...
Loan Balance. If the loan to collateral value reaches 100%.
Loan Balance. As of the date immediately prior to any Disbursement, the total amount of unadvanced proceeds of the Loan shall be sufficient, in the opinion of Lender and Title to complete the Improvements free of liens. To the extent the total of the unadvanced proceeds of the Loan shall be insufficient, at any time, in Lender's or Title's opinion, to complete the Improvements, or be less than the Total Construction Costs not yet paid for or not yet incurred, the Borrower shall immediately deposit with the Lender or with Title, as additional Owner Equity funds, an amount equal to such deficiency and such additional Owner Equity funds shall be disbursed by Title prior to the Disbursement of any further advance or advances under this Agreement.
Loan Balance. As of the date hereof, the balance of the Loans is $4,667,543.86.
Loan Balance. Anything in this Agreement contained to the contrary notwithstanding, it is expressly understood and agreed that the Loan shall at all times be in balance. The Loan shall be in balance when each Line Item is in balance, A Line Item shall be deemed to be in balance if the aggregate of the funds allocated to such Line Item, after provision for any reallocation then permissible pursuant to Section 9.11 below, is sufficient to pay the amounts contemplated within such Line Item, as estimated by TDF, including, without limitation, the payment of interest due with respect to the Loan through the date of Substantial Completion estimated by TDF's Consultant, The Company agrees that, if, (i) TDF reasonably determines that the Loan is not in balance, or (ii) TDF determines that the amount of the undisbursed Project Funds shall at any time be insufficient, and (iii) the insufficiency is not caused by an imbalance within the Budget, the Company shall, within ten (10) days of receipt of written notice from TDF, deposit with TDF cash or equivalent security or such other security as is acceptable to TDF in its sole and absolute discretion to eliminate such imbalance. Any funds deposited with TDF pursuant to this Section 9,10 on account of any deficiency may be applied by TDF or by the Trustee at the direction of TDF to pay costs of the Line Items as to which such projected or anticipated deficiencies exist before TDF shall direct or authorize the Trustee to disburse proceeds of the Loan to pay such costs,