Common use of Use of Proceeds of Loan Clause in Contracts

Use of Proceeds of Loan. The proceeds of the Revolving Loan Tranche shall be used to fund equity contributions for development ventures of Borrower, for pre-development and development costs for the Land, such as xxxxxxx money deposits, and property improvements in connection with the Land and other working capital needs of Borrowers, including corporate and project general, administrative and operating costs, stock repurchase costs (not to exceed $1,000,000 in the aggregate during the term of the Loan), pursuit costs, entitlement costs, taxes, business endeavors associated with the development of commercial and residential real properties, and for land acquisitions in accordance with the terms of Section 2.17 of this Addendum.

Use of Proceeds of Loan. The proceeds of the Revolving Loan Tranche shall be used to fund equity contributions for development ventures of Borrower, for pre-development and development costs for the Land, such as xxxxxxx money deposits, and property improvements in connection with the Land and other working capital needs of Borrowers, including corporate and project general, administrative and operating costs, stock repurchase costs (not to exceed $1,000,000 in the aggregate during the term of the Loan), pursuit costs, entitlement costs, taxes, business endeavors associated with the development of commercial and residential real properties, and for land acquisitions in accordance with the terms of Section 2.17 of this Addendum.

Use of Proceeds of Loan. The proceeds of the Revolving Loan Tranche shall be used to fund equity contributions for development ventures of Borrower, for pre-development and development costs for the Land, such as xxxxxxx money deposits, and property improvements in connection with the Land and other working capital needs of Borrowers, including corporate and project general, administrative and operating costs, stock repurchase costs (not to exceed $1,000,000 6,500,000 in the aggregate during the term of the Loan), pursuit costs, entitlement costs, taxes, business endeavors associated with the development of commercial and residential real properties, and for land acquisitions in accordance with the terms of Section 2.17 of this Addendum.