Projected Cost Overruns. If Lender at any time determines in its sole discretion that the amount in the Loan Fund is insufficient, or will be insufficient, to complete fully and to pay for the Project, then within ten (10) days after receipt of a written request from Lender, Borrower shall deposit in the Loan Fund an amount equal to the deficiency as determined by Lender. The judgment and determination of Lender under this section shall be final and conclusive. Any such amounts deposited by Borrower shall be disbursed prior to any Loan proceeds.
Projected Cost Overruns. 21 PROPERTY............................................................................................21
Projected Cost Overruns. If Lender at any time determines in its sole discretion that the amount in the Loan Fund is insufficient, or will be insufficient, to complete fully and to pay for the Project, then within ten (10) days after receipt of a written request from Lender, Borrower shall deposit in the Loan Fund an amount equal to the deficiency as determined by Lender. The judgment and determination of Lender under this section shall be final and conclusive. Any such amounts deposited by Borrower shall be disbursed prior to any Loan proceeds. FINAL PAYMENT TO GENERAL CONTRACTOR. Upon completion of the Project and fulfillment of the Construction Contract to the satisfaction of Lender and provided sufficient Loan Funds are available, Lender shall make an Advance to cover the final payment due to the General Contractor upon delivery to Lender of endorsements to the ALTA title insurance policy following the posting of the completion notice, as provided under applicable law. Construction shall not be deemed complete for purposes of final disbursement unless and until Lender shall have received all of the following:
Projected Cost Overruns. 26 Property.................................................................................26
Projected Cost Overruns. If Lender at any time determines in its sole discretion that the amount in the Loan Fund is insufficient, or will be insufficient, to fully complete and pay for in full the Project, then within ten (10) days after receipt of a written request from Lender, Borrower shall deposit in the Loan Fund an amount equal to the deficiency as determined by Lender. The judgment and determination of Lender under this Section 5.3 shall be final and conclusive. Lender shall have no further obligation to disburse any Loan proceeds until Borrower has deposited in the Loan Fund the deficiency amount as determined by Lender, and Borrower agrees that any such amounts deposited in the Loan Fund by Borrower shall be disbursed prior to any Loan proceeds.
Projected Cost Overruns. If Lender at any time determines in its sole judgment and determination that the Unfunded Balance under a Construction Loan is insufficient, or will be insufficient, to complete fully and to pay for the Project relating to such Construction Loan, then within ten (10) days after receipt of a written request and supporting documentation from Lender, Borrower shall deposit with Lender an amount equal to the deficiency as determined by Lender. The judgment and determination of Lender under this section shall be final and conclusive. As used in this paragraph, “Unfunded Balance” means, in the case of the Construction Loan, on the date of determination, the difference between (a) the Construction Loan Limit for such loan and (b) the balance of the Construction Loan.
Projected Cost Overruns. As of the date immediately prior to any requested Advance and after giving effect to the requested Advance, the Loan will be In- Balance under Section 15(o) and in Majority Owner’s judgment Borrower should be able to finish the Project and pay for it without obtaining additional funds (other than any Capital Contributions designated as “Construction Sources” on Exhibit D).
Projected Cost Overruns. 24 (iii) 59
Projected Cost Overruns. If Lender’s Engineer at any time determines (such determination shall be final and conclusive) that the remaining Project Costs will exceed the sum of the remaining amount Lender would be required to advance, then within ten (10) days after receipt of a written request from Lender, Borrower shall provide information regarding the Estimated Project Costs, and the provisions of Section 2.02(a) shall apply. In making such determination, Lender shall have sole discretion with respect to anticipated transaction costs which may accrue prior to the Conversion Date but shall look to the Construction Documents and the opinion of Lender’s Engineer for relevant construction costs and such other objective criteria as Lender deems to be applicable. If Borrower at any time determines that the total costs of completing the Project will exceed the amount set forth above, it shall promptly send written notice to Lender and shall, within ten (10) days of its discovery thereof, provide information regarding the Estimated Project Costs and the provisions of Section 2.02(a) shall apply.
Projected Cost Overruns. If Bank at any time determines in its sole but reasonable discretion that the available Loan A Note fund is insufficient to complete the project, Bank may demand that Borrower from its own or other resources fund any shortfall in cost of completion within thirty (30) days of the demand made by Bank.
