Project Loan. The Loan which may be made by Lender pursuant to the Project Loan Agreement by and between Lender and Borrowers.
Project Loan. Developer shall close on the Project Loan contemporaneously with the Closing. Developer, Town, and the Developer’s lender shall have agreed on the form and substance of a multi-party agreement that: (i) reflects certain lender protections required by lender; and (ii) coordinates and prioritizes the rights and remedies of Town and the Project Loan lender (the “Multi-Party Agreement”).
Project Loan any Event of Default (as defined in the Project Loan Agreement) occurs; or
Project Loan. Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, the Bank agrees to make Project Loans to the Borrower(s) from time to time in an aggregate principal amount not to exceed Thirty Million Dollars ($30,000,000) outstanding at any time. In no event shall the Bank be obligated to make a Project Loan in respect of a Project for which there is not then in effect a Project Purchase Agreement, if by making such Project Loan, the aggregate amount of Project Loans (including the Project Loan at issue) in respect of Projects for which there are not then in effect Project Purchase Agreements would be greater than Fifteen Million Dollars ($15,000,000). For purposes of calculating the aggregate amount of Project Loans in the preceding sentence, the maximum principal amounts available thereunder shall be used, and not the then outstanding principal balances thereof. In no event shall the Bank be obligated to make any Project Loan on or after the Project Loan Commitment Expiration Date. Notwithstanding the foregoing, subject to the terms and conditions hereof, the Bank shall fund after the Project Loan Commitment Expiration Date any Project Loan for which the Closing has occurred prior to the Project Loan Commitment Expiration Date.
Project Loan. The Borrower shall ensure the timely implementation of the Project under the Project Loan Agreement.
Project Loan. Developer, Commission, and the Project Lender shall have agreed on the form and substance of the Tri-Party Agreement, and Developer shall be closing on the Project Loan contemporaneously with the Closing.
Project Loan. Subject to the terms and conditions hereof, the Note (as hereinafter defined and made a part of this agreement), the Energy Services Agreement, and the Master Agreement, CHARTER agrees to make advances to NESC as requested to finance the Project (such advances being herein after collectively called the "Loan"). The obligation of NESC to repay to CHARTER the loan shall be evidenced by this Loan Agreement and the attached promissory note, both executed by NESC. Interest on the Loan shall accrue and be payable as provided herein, in the Note and in the Master Agreement.
Project Loan. On the date hereof, Lender is also making to Borrower a certain project mortgage loan in the principal amount of up to $5,000,000.00 (the “Project Loan”), the proceeds of which will be advanced in accordance with the terms and conditions of, and shall be secured by the Project Loan Agreement and the Project Loan Documents.
Project Loan. Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, the Bank agrees to make Project Loans to the Borrower(s) from time to time in an aggregate principal amount not to exceed Ten Million Dollars ($10,000,000) outstanding at any time. The Bank's commitment to make Project Loans shall expire on the Project Loan Commitment Expiration Date. In no event shall the Bank be obligated to make any Project Loan on or after the Project Loan Commitment Expiration Date. Notwithstanding the foregoing, subject to the terms and conditions hereof, the Bank shall fund after the Project Loan Commitment Expiration Date any Project Loan for which the Closing has occurred prior to the Project Loan Commitment Expiration Date. The proceeds of a Project Loan will be advanced to the Borrower thereunder as acquisition and construction of the Project in respect of which such Project Loan is made progresses, in accordance with and subject to the requirements and limitations set forth herein and in the other Project Loan Document for such Project Loan. Proceeds of the Loan shall be allocated to the Projects by the Developer in such manner as the Developer shall determine and the Bank may approve pursuant to Section 2.02
Project Loan. With respect to the Project Loan:
(a) The City agrees to apply any amounts which it or REAL receives on account of Stadium Facility Fees:
(i) firstly, against the principal amounts of the Project Loan until such time as the Project Loan is repaid in full;
(ii) secondly, toward the repayment of any advances made by the City from its general revenues to fund prior payments of such principal amounts where payment of the Stadium Facility Fees have not provided sufficient revenue to do so; and
(iii) thirdly, after the Project Loan is repaid in full, toward capital improvements to the Stadium, physical maintenance costs of the Stadium and if there are excess funds available, as may be determined at the discretion of City Council;
(b) The parties agree, where the Club does not own the gate to a Grey Cup Game to be played at the Stadium during the term of the Lease, the City and Club shall use their best efforts to collect (or have REAL collect) an amount at least equal to the Stadium Facility Fee on each ticket sold for such Grey Cup Game and any such fees collected will be treated as if they were Stadium Facility Fees; and
(c) The City shall advise the Club from time to time of all particulars relating to the Project Loan as the Club may reasonably request.