Financial Monitor definition

Financial Monitor means Burlington Capital Real Estate, LLC, a Nebraska limited liability company, its successors and assigns, and any successor Financial Monitor engaged by the Trustee in accordance with Section 5.05 of the Loan Agreement.
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Examples of Financial Monitor in a sentence

  • If the net proceeds of the insurance or of the award received as a consequence of such damage destruction, or condemnation, together with other available money for such purpose (including money contributed by Borrower), are insufficient to repair and restore the Project, the Borrower shall immediately notify in writing the Financial Monitor and the Trustee.

  • The Issuer does not employ and is not responsible for any actions or non-actions of the Financial Monitor.

  • Such other information respecting the business, properties or the condition or operations, financial or otherwise, of the Borrower as the Financial Monitor, the Issuer or any Owner of more than 5% of Bonds Outstanding may from time to time reasonably request.

  • All sums advanced hereunder and any other amounts expended by the Significant Bondholder, the Financial Monitor, and the Servicer (none of which parties shall be under or have any obligation whatsoever to advance or expend any amounts whether available hereunder or otherwise) to complete any improvement or rehabilitation of the Project shall be deemed to have been advanced to the Borrower and shall be secured by the Mortgage, as applicable.

  • In the event the Financial Monitor is removed or has resigned, the Trustee shall appoint a successor Financial Monitor at the direction of the Significant Bondholder and in the absence of such direction, an entity experienced in affordable multifamily financial monitoring selected by the Owners of a majority in principal amount of Outstanding Bonds shall be so appointed.

  • The Borrower shall provide to the Trustee, the Financial Monitor, the Significant Bondholder and each Owner at the Borrower’s expense financial statements in accordance with the requirements of the Loan Agreement.

  • The Issuer, the Borrower, the Financial Monitor, or the Significant Bondholder may at any time petition any court of competent jurisdiction for the removal for cause of the Trustee.

  • Not later than 10 Business days after each March 31, the Trustee shall deliver to the Financial Monitor, the Significant Bondholder and each Owner, according to its written direction at the address supplied to the Trustee by each or its authorized representative, an annual statement of transactions and holdings as of December 31 of the prior year.

  • After any default by the Borrower hereunder and passage of any cure or grace period permitted hereunder without cure being effected, the Borrower irrevocably permits and authorizes the Financial Monitor to disburse any remaining proceeds of the Loan directly to the subcontractors for the Project but Financial Monitor is not under any obligation so to do.

  • The Financial Monitor shall account to the Borrower for all sums so paid.

Related to Financial Monitor

  • Financial Model means the financial model adopted by Senior Lenders, setting forth the capital and operating costs of the Project and revenues therefrom on the basis of which financial viability of the Project has been determined by the Senior Lenders, and includes a description of the assumptions and parameters used for making calculations and projections therein;

  • financial service means a service of a financial nature, including insurance, and a service incidental or auxiliary to a service of a financial nature;

  • financial group means a group that consists of a legal person or legal arrangement exercising control and coordinating functions over the rest of the group for the application of group supervision under the Core Principles, and its branches and subsidiaries that are financial institutions as defined in section 27A(6) of the MAS Act or the equivalent financial institutions outside Singapore;

  • Financial Sponsor means any Person, including any Subsidiary of such Person, whose principal business activity is acquiring, holding, and selling investments (including controlling interests) in otherwise unrelated companies that each are distinct legal entities with separate management, books and records and bank accounts, whose operations are not integrated with one another and whose financial condition and creditworthiness are independent of the other companies so owned by such Person.

  • Individual monitoring means the assessment of:

  • Annual Financial Information means annual financial information as such term is used in paragraph (b)(5)(i) of the Rule and specified in Section 3(a) of this Disclosure Agreement.

  • Commercial motor vehicle means a motor vehicle or combination of motor vehicles used in commerce to transport passengers or property if the motor vehicle: