Sufficiency of Loan Sample Clauses

Sufficiency of Loan i) The Loan is In Balance whenever the amount of the undisbursed Loan Proceeds plus any Other Borrower Moneys as shown in the Cost Breakdown most recently approved by Administrative Agent, are sufficient in the reasonable judgment of Administrative Agent to pay, through completion of the Construction, all of the following sums: (i) all remaining costs of the Construction and (ii) all remaining interest, as reasonably calculated by Administrative Agent using its then current underwriting standards, and all other remaining sums which may accrue or be payable under the Loan Documents or the BANs Documents. Notwithstanding the foregoing, if, at any time, Administrative Agent determines, in Administrative Agent’s reasonable discretion, that it is unlikely that Borrower will deliver to Administrative Agent all or a portion of the Other Borrower Moneys, Administrative Agent can exclude such amount from its determination of whether the Loan is In Balance. Administrative Agent may not exclude from such calculation Loan Proceeds or the BANS which are otherwise properly payable under the Cost Breakdown. The Loan is “out of balance” if and when Administrative Agent in its reasonable judgment determines that there are insufficient funds (including all undisbursed Loan Proceeds and any Other Borrower Moneys provided or to be provided by Borrower) to pay for all such remaining costs and sums payable under the Loan Documents and BANS Documents.
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Sufficiency of Loan 
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Related to Sufficiency of Loan

  • Sufficiency of Funds Buyer has sufficient cash on hand or other sources of immediately available funds to enable it to make payment of the Purchase Price and consummate the transactions contemplated by this Agreement.

  • Sufficiency of Consideration Executive hereby acknowledges and agrees that Executive has received good and sufficient consideration for every promise, duty, release, obligation, agreement and right contained in this Release.

  • Sufficiency of Assets Except as set forth in Part 3.6, the Assets (a) constitute all of the assets, tangible and intangible, of any nature whatsoever, necessary to operate Seller's business in the manner presently operated by Seller and (b) include all of the operating assets of Seller.

  • Sufficiency of Purchased Assets The Purchased Assets include all right, title and interest of Seller in and to all assets, properties and rights of Seller or necessary for or used in the operation of Seller's business, other than the Excluded Assets.

  • Condition and Sufficiency of Assets The buildings, plants, structures, and equipment of the Acquired Companies are structurally sound, are in good operating condition and repair, and are adequate for the uses to which they are being put, and none of such buildings, plants, structures, or equipment is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The building, plants, structures, and equipment of the Acquired Companies are sufficient for the continued conduct of the Acquired Companies' businesses after the Closing in substantially the same manner as conducted prior to the Closing.

  • Title to and Sufficiency of Assets Each Target Company has good and marketable title to, or a valid leasehold interest in or right to use, all of its assets, free and clear of all Liens other than (a) Permitted Liens, (b) the rights of lessors under leasehold interests, (c) Liens specifically identified on the balance sheet as of the Interim Balance Sheet Date included in the Company Financials and (d) Liens set forth on Schedule 4.17. The assets (including Intellectual Property rights and contractual rights) of the Target Companies constitute all of the material assets, rights and properties that are currently used in the operation of the businesses of the Target Companies as it is now conducted or that are used or held by the Target Companies for use in the operation of the businesses of the Target Companies, and taken together, are adequate and sufficient for the operation of the businesses of the Target Companies as currently conducted.

  • Currency of Payment The contract price will normally be paid in the currency or currencies in which the price has been stated. The purchaser, however, reserves the right to make payments in the currencies of the countries of origin of goods and services at the exchange rates applicable at the time of payment of the contract price.

  • Adequacy of Funds The Purchaser has, or will have prior to or at the Closing, adequate financial resources to satisfy its monetary and other obligations under this Agreement including the obligation to pay the Merger Consideration in accordance herewith.

  • Currency of account (a) Subject to paragraphs (b) to (e) below, the Base Currency is the currency of account and payment for any sum due from an Obligor under any Finance Document.

  • Solvency of Customers Each Customer, to the best of each Borrower’s knowledge, as of the date each Receivable is created, is and will be solvent and able to pay all Receivables on which the Customer is obligated in full when due or with respect to such Customers of any Borrower who are not solvent such Borrower has set up on its books and in its financial records bad debt reserves adequate to cover such Receivables.

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