Payment of Release Price. In connection with the sale of the Eligible Lot, Borrower will have paid to the Lender a release price equal to the Net Sales Proceeds.
Payment of Release Price. Borrower will have paid to the Agent, as agent for and on behalf of the Banks, a release price equal to the greater of (1) the Maximum Allowed Advance for the Model Unit, as reflected in the most recent Borrowing Base Report or (2) the Net Sales Proceeds; provided, however, that if a Funding Procedure Change Event (as defined in Section 11.3(c)(ii) has occurred, then so long as the provisions of Section 11.10(c) remain in effect, the release price will be the amount determined pursuant to clause (1) above; and
Payment of Release Price. Borrower shall, upon the closing of a sale of any Entitled Land, Lots Under Development, Finished Lot or Unit pay to Administrative Agent for application to the outstanding unpaid aggregate amount of Advances hereunder, an amount equal to the amount required under Section 7.1 for the release of such Collateral.
Payment of Release Price. Borrower shall have paid to Lender the greater of (i) the Net Sales Proceeds for such Units, or (ii) the mandatory release price established for such Unit upon the Lender’s approval of the Approved Subdivision, which release amount shall in no event be less than the Maximum Allowed Advance for such Unit; and
Payment of Release Price. The Agent shall have received ------------------------ payment of $3,550,000 from Borrowers pursuant to Section 12(r) hereof representing the Release Price for Oil and Gas Properties sold by Borrowers to Amoco Production Company in connection with the closing of the Acquisition and certain properties excluded from the Acquisition because of preferential rights, said amount to be applied Pro Rata to the Revolving Loans as a reduction of the Revolving Commitment. After such reduction, both the Revolving Commitment and the Borrowing Base shall be $156,450,000.
Payment of Release Price. Borrower shall, upon the closing of any Unit and its related Lot, pay to Bank for application to the outstanding unpaid aggregate amount of Advances hereunder, an amount equal to the release consideration required under this Agreement for such Unit.
Payment of Release Price. Immediately prior to implementing any of the steps described above in this Section 7.04, the Non-Implementing Member shall pay any release price required to be paid to the Acquisition Lender to obtain the release of any deed of trust or other security interest encumbering the Offered Property that secures the repayment of the Acquisition Loan or the Mezzanine Loan.
Payment of Release Price. In connection with a Bulk Sale of Finished Lots, Borrower will have paid to the Agent, as agent for and on behalf of the Banks, a release price equal to the greater of (1) the aggregate Maximum Allowed Advance for the Finished Lots to be released multiplied by either (I) 135%, if the Bulk Sale of Finished Lots is of 150 or more Finished Lots, or by (II) 125%, if the Bulk Sale of Finished Lots is of fewer than 150 Finished Lots, or (2) the Net Sales Proceeds; provided, however, that if a Funding Procedure Change Event (as defined in Section 11.3(c)(ii) has occurred, then so long as the provisions of Section 11.10(c) remain in effect, the release price will be the amount determined pursuant to clause (1) above.
Payment of Release Price. If at any time any Borrower is required to pay or cause to be paid the Release Price with respect to any Lease, such Release Price shall be deposited into the Lender’s Account not later than one (1) Business Day immediately prior to the first Settlement Date occurring after such requirement arises.
Payment of Release Price. Borrower shall have paid to Bank the Net Sales Proceeds, which amount should not be less than the Maximum Allowed Advance; and
