Procedure of Advances. (a) Each Draw Request shall be submitted to Lender and Construction Consultant at least ten (10) Business Days prior to the Requested Advance Date, and no more frequently than monthly. Lender shall make the requested Advance on the Requested Advance Date so long as all conditions to such Advance are satisfied or waived.
Appears in 4 contracts
Samples: Project Loan Agreement (Acadia Realty Trust), Project Loan Agreement (Acadia Realty Trust), Project Loan Agreement (Acadia Realty Trust)
Procedure of Advances. (a) Each Draw Request shall be submitted to Lender and Construction Consultant at least ten (10) Business Days prior to the date of the requested Advance (the “Requested Advance Date”), and no more frequently than monthly. Lender shall make the requested Advance on the Requested Advance Date so long as all conditions to such Advance are satisfied or waived.
Appears in 4 contracts
Samples: Building Loan Agreement (Acadia Realty Trust), Building Loan Agreement (Acadia Realty Trust), Building Loan Agreement (Acadia Realty Trust)
Procedure of Advances. (a) Each Draw Request shall be submitted to Lender and Construction Consultant at least ten (10) Business Days prior to the date of the requested Advance (the “Requested Advance Date”), and no more frequently than monthly. Lender shall make the requested Advance on the Requested Advance Date so long as all conditions to such Advance are satisfied or waived.
Appears in 2 contracts
Samples: Second Mezzanine Loan Agreement, Second Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)
Procedure of Advances. (a) Each Draw Request shall be submitted to Lender and Construction Consultant at least ten (10) Business Days prior to the date of the requested Future Advance (the “Requested Advance Date”), and no more frequently than monthlymonthly (unless otherwise approved by Lender in its sole discretion). Lender shall make the requested Future Advance on the Requested Advance Date so long as all conditions to such Future Advance are satisfied or waived.
Appears in 1 contract
Samples: Loan Agreement (Pacific Oak Strategic Opportunity REIT II, Inc.)
Procedure of Advances. (a) Each Draw Request shall be submitted to Lender and Construction Consultant Agent at least ten twelve (1012) Business Days prior to the date of the requested Advance (the “Requested Advance Date”), and no more frequently than monthlymonthly (unless otherwise approved by Agent in its sole discretion exercised in good faith). Lender shall make the requested Advance on the Requested Advance Date so long as all conditions to such Advance are satisfied or waived.
Appears in 1 contract
