Common use of Time and Place of Advances Clause in Contracts

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five (5) days prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's interests in the Land, Lender may, at Lender's option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person or persons as may succeed to Borrower's title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 3 contracts

Samples: Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement (Stratus Properties Inc)

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Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five (5) days Business Days prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's ’s interests in the Land, Lender may, at Lender's ’s option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person Person or persons Persons as may succeed to Borrower's ’s title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 3 contracts

Samples: Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement, Construction Loan Agreement (Stratus Properties Inc)

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require at least five (5) days days’ prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's ’s interests in and to the Land, Lender may, at Lender's ’s option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person or persons as may succeed to Borrower's ’s title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 2 contracts

Samples: Construction Loan Agreement (Global Geophysical Services Inc), Construction Loan Agreement (Global Geophysical Services Inc)

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five (5) days Business Days prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day 30‑day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's ’s interests in the Land, Lender may, at Lender's ’s option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person Person or persons Persons as may succeed to Borrower's ’s title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 2 contracts

Samples: Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement (Stratus Properties Inc)

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five ten (510) days days' prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into either the Special Construction Account or the Operating Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's interests in and to the Land, Lender may, at Lender's option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person Person or persons Persons as may succeed to Borrower's title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust Lien Instrument and all other liens or security interests securing the Loan.

Appears in 1 contract

Samples: Construction Loan Agreement (Owens Realty Mortgage, Inc.)

Time and Place of Advances. All Advances are to be made at the ----------------------------- office of Lender, or at such other place as Lender may designate; and Lender shall require five ten (510) days days' prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day period. Except as set forth in this Agreement, all All Advances (excluding direct disbursements) are to be made by direct deposit into the Special Construction Advance Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's interests in and to the Land, except pursuant to Article XI hereof, Lender may, at Lender's ---------- option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person or persons as may succeed to Borrower's title and interest interest, and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 1 contract

Samples: Construction Loan Agreement (Rampart Capital Corp)

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five (5) days Business Days prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's Xxxxxxxx’s interests in the Land, Lender may, at Lender's Xxxxxx’s option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person Person or persons Persons as may succeed to Borrower's Xxxxxxxx’s title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 1 contract

Samples: Construction Loan Agreement (Stratus Properties Inc)

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Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five (5) days prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day 30‑day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's interests in the Land, Lender may, at Lender's option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person or persons as may succeed to Borrower's title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 1 contract

Samples: Construction Loan Agreement (Stratus Properties Inc)

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five ten (510) days prior notice in writing before the making of any such Advance. Unless specifically approved by Lender, Lender shall not be obligated to undertake any Advance hereunder more than once twice in any 30-day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever be deprived of Borrower's ’s interests in and to the Land, Lender may, at Lender's ’s option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person or persons as may succeed to Borrower's ’s title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust Lien Instrument and all other liens or security interests securing the Loan.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five (5) days business days' prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-30 day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Special Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's interests in the Land, Lender may, at Lender's option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person or persons as may succeed to Borrower's title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust and all other liens or security interests securing the Loan.

Appears in 1 contract

Samples: Loan Agreement (Stratus Properties Inc)

Time and Place of Advances. All Advances are to be made at the office of Lender, or at such other place as Lender may designate; and Lender shall require five ten (510) days days' prior notice in writing before the making of any such Advance. Lender shall not be obligated to undertake any Advance hereunder more than once in any 30-day 30‑day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into either the Special Construction Account or the Operating Account. In the event Borrower shall part with or be in any manner whatever deprived of Borrower's interests in and to the Land, Lender may, at Lender's option but without any obligation to do so, continue to make Advances under this Agreement, and subject to all its terms and conditions, to such person Person or persons Persons as may succeed to Borrower's title and interest and all sums so disbursed shall be deemed Advances under this Agreement and secured by the Deed of Trust Lien Instrument and all other liens or security interests securing the Loan.

Appears in 1 contract

Samples: Construction Loan Agreement (IMH Financial Corp)

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