Common use of Loan Commitment Amount Clause in Contracts

Loan Commitment Amount. Confirmation that the sum of the Loan Commitment Amount and the Loan-in-Process Account, if applicable, remaining after each Advance will be enough to complete all the Work. If, in Xxxxxx’s sole discretion, the sum is not enough to complete all the Work within five days, after notice from Lender, Borrower will pay into the Loan-in-Process Account the amount Lender deems sufficient, when added to the existing balance of the Loan-in-Process Account, to complete the Work. Lender will not be under any obligation to make any Advance unless and until Borrower makes such payment.

Loan Commitment Amount. Confirmation that the sum of the Loan Commitment Amount and the Loan-in-Process Account, if applicable, remaining after each Advance will be enough to complete all the Work. If, in XxxxxxLxxxxx’s sole discretion, the sum is not enough to complete all the Work within five days, after notice from Lender, Borrower will pay into the Loan-in-Process Account the amount Lender deems sufficient, when added to the existing balance of the Loan-in-Process Account, to complete the Work. Lender will not be under any obligation to make any Advance unless and until Borrower makes such payment.

Loan Commitment Amount. Confirmation that the sum of the Loan Commitment Amount and the Loan-in-Process Account, if applicable, remaining after each Advance will be enough to complete all the Work. If, in XxxxxxLender’s sole discretion, the sum is not enough to complete all the Work within five days, after notice from Lender, Borrower will pay into the Loan-in-Process Account the amount Lender deems sufficient, when added to the existing balance of the Loan-in-Process Account, to complete the Work. Lender will not be under any obligation to make any Advance unless and until Borrower makes such payment.