Common use of Subsidiary Loans Clause in Contracts

Subsidiary Loans. With respect to any Future Project for which an Acquisition Notice is delivered to Atlantic in accordance with Section 2.3 above, Homestead shall have the right to determine, in its sole and absolute discretion, that a Subsidiary acquire the subject Project, in which event, the subject Subsidiary shall, at such time as it acquires the subject Future Project, execute and deliver to Atlantic Subsidiary Security Documents in connection therewith together with an agreement in form and substance satisfactory to Atlantic pursuant to which such Subsidiary agrees to be bound by the terms of this Agreement as to such Project. In addition, at the election of Homestead, the subject Subsidiary shall execute a Subsidiary Note in the amount of the Loan determined by Homestead to be allocable to such Project and the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount (as Homestead may elect) shall be decreased by the amount of any such Subsidiary Note. Alternatively, Homestead may elect to have funds advanced with respect to such Project under the Corporate Loan or Partnership Loan and either loan or contribute, or cause the Partnership Borrower to loan or contribute, the funds so advanced to the subject Subsidiary. In the event any Subsidiary executes a Subsidiary Note and/or any Subsidiary Security Documents as contemplated under this Section 2.4, the parties shall, contemporaneously therewith, execute, deliver, and, if appropriate, record, such amendments to the Loan Documents as may reasonably be necessary or appropriate to properly document any resulting changes in the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount.

Subsidiary Loans. With respect to any Future Project for which an Acquisition Notice is delivered to Atlantic PTR in accordance with Section 2.3 ----------- above, Homestead shall have the right to determine, in its sole and absolute discretion, that a Subsidiary acquire the subject Project, in which event, the subject Subsidiary shall, at such time as it acquires the subject Future Project, execute and deliver to Atlantic PTR Subsidiary Security Documents in connection therewith together with an agreement in form and substance satisfactory to Atlantic PTR pursuant to which such Subsidiary agrees to be bound by the terms of this Agreement as to such Project. In addition, at the election of Homestead, the subject Subsidiary shall execute a Subsidiary Note in the amount of the Loan determined by Homestead to be allocable to such Project and the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount (as Homestead may elect) shall be decreased by the amount of any such Subsidiary Note. Alternatively, Homestead may elect to have funds advanced with respect to such Project under the Corporate Loan or Partnership Loan and either loan or contribute, or cause the Partnership Borrower to loan or contribute, the funds so advanced to the subject Subsidiary. In the event any Subsidiary executes a Subsidiary Note and/or any Subsidiary Security Documents as contemplated under this Section 2.4, the parties shall, contemporaneously therewith, execute, ----------- deliver, and, if appropriate, record, such amendments to the Loan Documents as may reasonably be necessary or appropriate to properly document any resulting changes in the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount.

Subsidiary Loans. With respect to any Future Project for which an Acquisition Notice is delivered to Atlantic PTR in accordance with Section 2.3 above, Homestead shall have the right to determine, in its sole and absolute discretion, that a Subsidiary acquire the subject Project, in which event, the subject Subsidiary shall, at such time as it acquires the subject Future Project, execute and deliver to Atlantic PTR Subsidiary Security Documents in connection therewith together with an agreement in form and substance satisfactory to Atlantic PTR pursuant to which such Subsidiary agrees to be bound by the terms of this Agreement as to such Project. In addition, at the election of Homestead, the subject Subsidiary shall execute a Subsidiary Note in the amount of the Loan determined by Homestead to be allocable to such Project and the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount (as Homestead may elect) shall be decreased by the amount of any such Subsidiary Note. Alternatively, Homestead may elect to have funds advanced with respect to such Project under the Corporate Loan or Partnership Loan and either loan or contribute, or cause the Partnership Borrower to loan or contribute, the funds so advanced to the subject Subsidiary. In the event any Subsidiary executes a Subsidiary Note and/or any Subsidiary Security Documents as contemplated under this Section 2.4, the parties shall, contemporaneously therewith, execute, deliver, and, if appropriate, record, such amendments to the Loan Documents as may reasonably be necessary or appropriate to properly document any resulting changes in the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount.

Subsidiary Loans. With respect to any Future Project for which an Acquisition Notice is delivered to Atlantic PTR in accordance with Section 2.3 above, Homestead shall have the right to determine, in its sole and absolute discretion, that a Subsidiary acquire the 13 subject Project, in which event, the subject Subsidiary shall, at such time as it acquires the subject Future Project, execute and deliver to Atlantic PTR Subsidiary Security Documents in connection therewith together with an agreement in form and substance satisfactory to Atlantic PTR pursuant to which such Subsidiary agrees to be bound by the terms of this Agreement as to such Project. In addition, at the election of Homestead, the subject Subsidiary shall execute a Subsidiary Note in the amount of the Loan determined by Homestead to be allocable to such Project and the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount (as Homestead may elect) shall be decreased by the amount of any such Subsidiary Note. Alternatively, Homestead may elect to have funds advanced with respect to such Project under the Corporate Loan or Partnership Loan and either loan or contribute, or cause the Partnership Borrower to loan or contribute, the funds so advanced to the subject Subsidiary. In the event any Subsidiary executes a Subsidiary Note and/or any Subsidiary Security Documents as contemplated under this Section 2.4, the parties shall, contemporaneously therewith, execute, deliver, and, if appropriate, record, such amendments to the Loan Documents as may reasonably be necessary or appropriate to properly document any resulting changes in the Maximum Corporate Loan Amount and/or the Maximum Partnership Loan Amount.