Common use of THE PARTNERSHIP LOAN Clause in Contracts

THE PARTNERSHIP LOAN. Subject to the limitations set forth in Sections 2.5, 2.6 and 2.7 below, Atlantic hereby agrees, upon the terms and conditions set forth herein and in the other applicable Loan Documents, to advance to the Partnership Borrower (or, as Homestead may direct, to Homestead or any Subsidiary) up to the amount of the Maximum Partnership Loan Amount for the purpose of paying the costs and expenses incurred by the Partnership Borrower (or by Homestead or any such Subsidiary, as the case may be) in completing the design and construction of the Existing Projects and in performing its due diligence review, obtaining all Permits required for development of and otherwise acquiring the Land for, and completing the design and construction of the Future Projects hereafter pursued by Homestead, the Partnership Borrower or any other Subsidiary as may be funded under the provisions of this Agreement. Principal and accrued interest on the Partnership Note shall be due and payable in accordance with the terms and conditions set forth therein and herein.

THE PARTNERSHIP LOAN. Subject to the limitations set forth in Sections 2.5, 2.6 and 2.7 below, Atlantic PTR hereby agrees, upon the terms and conditions set forth herein and in the other applicable Loan Documents, to advance to the Partnership Borrower (or, as Homestead may direct, to Homestead or any Subsidiary) up to the amount of the Maximum Partnership Loan Amount for the purpose of paying the costs and expenses incurred by the Partnership Borrower (or by Homestead or any such Subsidiary, as the case may be) in completing the design and construction of the Existing Projects and in performing its due diligence review, obtaining all Permits required for development of and otherwise acquiring the Land for, and completing the design and construction of the Future Projects hereafter pursued by Homestead, the Partnership Borrower or any other Subsidiary as may be funded under the provisions of this Agreement. Principal and accrued interest on the Partnership Note shall be due and payable in accordance with the terms and conditions set forth therein and herein.

THE PARTNERSHIP LOAN. Subject to the limitations set forth in Sections 2.5, 2.6 and 2.7 below, Atlantic PTR hereby agrees, upon the terms and ----------------- --- conditions set forth herein and in the other applicable Loan Documents, to advance to the Partnership Borrower (or, as Homestead may direct, to Homestead or any Subsidiary) up to the amount of the Maximum Partnership Loan Amount for the purpose of paying the costs and expenses incurred by the Partnership Borrower (or by Homestead or any such Subsidiary, as the case may be) in completing the design and construction of the Existing Projects and in performing its due diligence review, obtaining all Permits required for development of and otherwise acquiring the Land for, and completing the design and construction of the Future Projects hereafter pursued by Homestead, the Partnership Borrower or any other Subsidiary as may be funded under the provisions of this Agreement. Principal and accrued interest on the Partnership Note shall be due and payable in accordance with the terms and conditions set forth therein and herein.