Common use of Sources of Capital Clause in Contracts

Sources of Capital. The Borrower shall, at all times that the Borrower or any of its Subsidiaries is engaging in any development as provided in Section 8.9 or has entered into any agreement to provide funds with respect to a development, maintain or have identified available sources of capital equal to the total cost to acquire and complete such developments and to satisfy such funding obligations, which sources of capital shall be acceptable to the Agent in its reasonable discretion. Amounts available to be disbursed for such purposes pursuant to this Agreement may be considered as a source of capital for the purposes of this Section 8.10.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Excel Realty Trust Inc), Revolving Credit Agreement (New Plan Excel Realty Trust Inc), Revolving Credit Agreement (Wellsford Real Properties Inc)

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Sources of Capital. The Borrower shall, at all times that the Borrower or any of its Subsidiaries permitted by Section 8.9 is engaging in any development as provided in Section 8.9 or has entered into any agreement to provide funds with respect to a development, maintain or have identified available sources of capital equal to the total cost to acquire and complete such developments and to satisfy such funding obligations, which sources of capital shall be acceptable to the Agent in its reasonable discretion. Amounts available to be disbursed for such purposes pursuant to this Agreement may be considered as a source of capital for the purposes of this Section 8.10.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Wellsford Real Properties Inc)

Sources of Capital. The Borrower Borrowers and the Guarantors shall, at all times that the Borrower such Person or any of its Subsidiaries is engaging in any development as provided in Section 8.9 8.12 or has entered into any agreement to provide funds with respect to a development, maintain or have identified available sources of capital equal to the total cost to acquire and complete such developments and to satisfy such funding obligations, which sources of capital shall be acceptable to the Agent in its reasonable discretion. Amounts available to be disbursed for such purposes pursuant to this Agreement may be considered as a source of capital for the purposes of this Section 8.107.21.

Appears in 1 contract

Samples: Revolving Credit Agreement (Schuler Homes Inc)

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Sources of Capital. The Borrower Borrowers shall, at all times that the a Borrower or any of its their respective Controlled Subsidiaries is engaging in any development as provided in Section 8.9 or has entered into any agreement to provide funds with respect to a development, maintain or have identified available sources of capital equal to the total cost to acquire and complete such developments and to satisfy such funding obligations, which sources of capital shall be acceptable to the Agent in its reasonable discretion. Amounts available to be disbursed for such purposes pursuant to this Agreement may be considered as a source of capital for the purposes of this Section 8.10.

Appears in 1 contract

Samples: Master Credit Agreement (Wellsford Real Properties Inc)

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