OWNER'S ADVANCES. Promptly after receipt of the Manager's estimate under Section A of this Article or upon request by Manager, Owner may advance or cause to be advanced to the Owner's Account such funds as are necessary to pay Operating Expenses as they become due. Manager's obligation to pay the obligations of the Property and Owner under this Agreement is conditioned upon the availability of sufficient funds (from a Person other than Manager) to perform such obligation, and, Manager shall not be deemed in default of any provision of this Agreement for its failure to pay or discharge any Operating Expenses or other Property expenses to the extent the balance of the Owner's Account is insufficient to pay the same.
OWNER'S ADVANCES. The term "Owner's Advances" shall mean the amounts to be ----------------- advanced by Owner to Manager pursuant to Section 9. 1.
OWNER'S ADVANCES. Owner shall advance to Manager on a timely and prompt basis immediately available funds with which to conduct the affairs of and maintain the Facility (hereafter referred to as "Owner's Advances") as set forth in this Agreement and as otherwise provided hereunder.
OWNER'S ADVANCES. Owner shall advance to Manager on a timely and prompt basis immediately available funds with which to conduct the affairs of the Facility and maintain the Facility (hereafter referred to as “Owner’s Advances”) as set forth in this Agreement and as otherwise provided hereunder; provided, however, that notwithstanding anything contained in this Agreement to the contrary, Owner shall have no obligation to advance funds to Manager for the Facility if to do so Owner would be required to make a capital call on Owner’s members beyond the amount of capital committed by Owner’s members as “Initial Capital Contributions” and “Additional Capital Contributions” as set forth on Schedule B to Owner’s limited liability company agreement.
OWNER'S ADVANCES. 3 3.2 Owner's Cooperation. ...................................4
OWNER'S ADVANCES. (a) Subject to the terms and conditions of the Loan Agreement and of this Agreement, including satisfaction of the applicable conditions set forth in Articles 4 and 5 hereof, and so long as no Default or Event of Default has occurred and is continuing, Owner agrees to pay or cause to be paid the Costs of the Properties to Agent or to Persons designated by Agent in writing at least 4 days prior to a Closing as follows: (x) on any Property Closing Date (which shall occur no more frequently than monthly), or (y) on a Closing Date during the Interim Term with respect to Additional Improvements not funded on a Property Closing Date, Owner shall make an advance (an Advance) with respect to the Property or Properties so acquired or with respect to such Additional Improvements (i) solely out of the proceeds to Owner of the Equity Investment made with respect to such Property or Properties with respect to such Additional Improvements and (ii) the proceeds of any Loans made to Owner by the Lenders on such date in each case upon a Requisition therefor delivered in substantial accordance with the provisions hereof and of the Loan Agreement. Nothing contained in this Agreement shall in any
1. Agent shall submit all Requisitions and related materials directly to Agent Bank, and any Requisitions under the Loan Agreement shall serve as the Requisitions contemplated by this Agreement.
(b) Each Advance shall be in an amount not to exceed 100% of the Costs of the Property being acquired or completed on such Closing Date, but in any case only out of funds available to Owner from the proceeds of the Loans and any Equity Investment.
(c) The aggregate of all Advances made under this Agreement shall not exceed the Total Property Cost. Owner shall make or cause to be made each Advance by wire transfer to Agent, at Union Bank of California, ABA No. 000000000, account in the name of "Iron Mountain Records Management, Inc.", account number 0000-000-000, or to such other accounts or persons and in such manner as Agent may designate in writing no later than four Banking Days before the date of any Advance. Any Advance that would otherwise be required to be made on a day that is not a Banking Day shall be made on the next following Banking Day.
OWNER'S ADVANCES. Owner shall advance funds to the Operating Expense Account and the Payroll Account described in Section 3.5.2 to conduct the affairs of the Course and maintain the Property (the “Owner’s Advances”) as set forth below. Such Owner’s Advances may be paid by check, wire transfer or authorization to apply funds from the Deposit Account towards the payment of such Owner’s Advances. Owner acknowledges and agrees that it has sole responsibility for providing Owner’s Advances and KSM shall have no responsibility to provide funds for the payment of any Operating Expenses, Gross Payroll, debts or other amounts payable by or on behalf of the Course, the Property or Owner.
OWNER'S ADVANCES. Any of the above provisions resulting in a double exclusion from Gross Revenues shall be allowed as an exclusion only once.
OWNER'S ADVANCES. The term “Owner’s Advances” shall have the meaning described in Section 4.2 of the Agreement.
OWNER'S ADVANCES. Any assessments paid by Owner Members to fund expenses of the Lodge or Owner pursuant to the Operating Agreement. Any of the above provisions resulting in a double exclusion from Gross Receipts shall be allowed as an exclusion only once.
