Borrower Deferred Equity shall have the meaning set forth in the Construction Funding Agreement.
Borrower Deferred Equity means the Equity Contributions to be made by the Equity Investor to Borrower pursuant to, and subject to the terms and conditions set forth in, the Partnership Agreement other than Borrower Initial Equity, in accordance with the following schedule: Amount Timing $ TOTAL
Borrower Deferred Equity means all Capital Contributions (as defined in the Construction Disbursement Agreement) with the exception of the Borrower Initial Equity.
Examples of Borrower Deferred Equity in a sentence
All proceeds of the Borrower Deferred Equity, as well as any additional amounts delivered from time to time to the Fiscal Agent by or on behalf of the Borrower (excluding any proceeds of the Funding Loan) shall be deposited to the Equity Account of the Project Fund.
All proceeds of the Borrower Deferred Equity, as well as any additional amounts delivered from time to time to the Fiscal Agent by or on behalf of the Borrower (excluding any proceeds of the Funding Loan) shall be deposited by the Fiscal Agent to the Equity Account of the Project Fund.
Borrower shall use commercially reasonable efforts to cause the Equity Investor to fund all installments of the Equity Contributions in the amounts and at the times provided in the Partnership Agreement, subject and according to the funding and other terms of the Partnership Agreement, provided that the foregoing shall not relieve the Borrower from any obligation to fund the Borrower Deferred Equity as and when required under this Borrower Loan Agreement.
More Definitions of Borrower Deferred Equity
Borrower Deferred Equity means the Equity Contributions to be made by the Equity Investor to Borrower pursuant to the Partnership Agreement other than Borrower Initial Equity, in accordance with the following schedule (subject to adjustments as contained in the Borrower’s Partnership Agreement): Amount Date $ Closing Date 1, , or such later date as “Substantial Completion” is achieved, as such term is defined and as otherwise provided in the Partnership Agreement 1, , or such later date as “Stabilized Operations” are achieved, as such term is defined and as otherwise provided in the Partnership Agreement 1, , or such later date as provided in the Partnership Agreement $ Total
Borrower Deferred Equity means the Equity Contributions to be made by the Equity Investor to Borrower pursuant to the Partnership Agreement other than Borrower Initial Equity, in accordance with the following schedule (subject to adjustments as contained in the Borrower’s Partnership Agreement): Amount Date Closing Date [$ ] January 1, 2018, or such later date as “Stabilized Operations” are achieved, as such term is defined and as otherwise provided in the Partnership Agreement [ ] [the date on which the IRS Form 8609 has been submitted] $ Total
Borrower Deferred Equity means the Equity Contributions made to Borrower by the Equity Investor pursuant to the Partnership Agreement other than Borrower Initial Equity, in accordance with the following schedule (subject to adjustment as described in the Partnership Agreement): Installment Amount Second Installment (in accordance with Section 5.1A(ii) of the Partnership Agreement) $200,000 Third Installment (in accordance with Section 5.1A(iii) of the Partnership Agreement) 1,768,000 Fourth Installment (in accordance with Section 5.1A(iv) of the Partnership Agreement) 1,769,000 Fifth Installment (in accordance with Section 5.1A(v) of the Partnership Agreement) $266,000
Borrower Deferred Equity means the Equity Contributions to be made by the Equity Investor to Borrower pursuant to the Partnership Agreement other than Borrower Initial Equity, in accordance with the following schedule (subject to adjustments as contained in the Borrower’s Partnership Agreement): Amount Date $526,151.80 Closing Date $3,156,910.80 April 1, 2018, or such later date as “Substantial Completion” is achieved, as such term is defined and as otherwise provided in the Partnership Agreement $1,420,609.86 April 1, 2018, or such later date as “Stabilized Operations” are achieved, as such term is defined and as otherwise provided in the Partnership Agreement $157,845.54 October 1, 2018, or such later date as “Receipt of 8609s” as provided in the Partnership Agreement $5,261,518.00 Total
Borrower Deferred Equity means the Equity Contributions to be made by the Equity Investor to Borrower pursuant to the Partnership Agreement other than Borrower Initial Equity, in accordance with the following schedule:
Borrower Deferred Equity means the Equity Contributions to be made by the Equity Investor to Borrower pursuant to, and in accordance with the terms of, the Partnership Agreement other than Borrower Initial Equity, in accordance with the following schedule (for purposes of this paragraph, capitalized terms included in the following table shall have the meanings given them in the Partnership Agreement): Amount Date $26,949,379 The latest of (A) the Completion Date, (B) receipt by the Investment Limited Partner of the Substantial Completion Certificate, an Estoppel Letter from each Lender (provided, however, that the Investment Limited Partner may waive the requirement for an Estoppel Letter in its sole discretion if a particular Lender refuses to provide one) and evidence of satisfaction of the Insurance Requirements and the Due Diligence Recommendations, (C) receipt of a date-down endorsement to the Title Policy in form and substance satisfactory to the Special Limited Partner, and (D) March 1, 2017 $3,316,847 The latest of (A) Permanent Mortgage Commencement, (B) the Initial Full Occupancy Date, (C) receipt by the Investment Limited Partner of the Cost Certification, (D) delivery of an “As-Built” survey by a professional engineer licensed in the State reflecting all improvements comprising the Apartment Complex, (E) receipt by the Investment Limited Partner of the Contractor Pay-Off Letter, and (F) receipt of an updated Title Policy in form and substance satisfactory to the Special Limited Partner, which policy in no event shall contain a survey exception, provided however, that the proceeds of the Third Installment shall first be used to fund the Operating Reserve in full $829,212 The latest of (A) Rental Achievement, (B) State Designation, (C) receipt by the Investment Limited Partner of the Initial Compliance Audit, (D) receipt by the Investment Limited Partner of a properly and timely recorded copy of the Extended Use Agreement, and (E) receipt by the Investment Limited Partner of written confirmation that the Apartment Complex qualifies for the Welfare Tax Exemption, provided, however, that upon the satisfaction of the conditions contained in clauses (A) through (D) hereof, the Investment Limited Partner shall fund a portion of the Fourth Installment equal to the total amount of the Fourth Installment (calculated after the application of any adjustments required pursuant to Section 5.1(e) or 5.1(f)) minus $250,000 (the “BOE Welfare Holdback”), which BOE Welfare Holdback shall...
Borrower Deferred Equity means the Equity Requirement (as defined in the Construction Disbursement Agreement) with the exception of the Initial Equity Requirement.