Common use of Loan In Balance Clause in Contracts

Loan In Balance. Borrower agrees that the Loan must at all times remain in balance. The Borrower shall from time to time furnish Lender reasonably satisfactory evidence of the Borrower’s ability to pay for all costs of completing the Project, and if the estimated cost of completing the Project exceeds the then remaining balance of proceeds available under the Loan, Borrower shall pay out of Borrower’s own funds the next sums coming due for such work until the Loan is brought back into balance before the Lender shall be required to disburse any further sums hereunder.