Future Project definition
Examples of Future Project in a sentence
Requests for advances of Loan proceeds hereunder may include amounts required to reimburse Homestead for the costs and expenses incurred by Homestead in its due diligence review of any such Future Project, as well as all costs incurred in connection with its efforts to secure the Permits required for development of any such Future Project.
Homestead may select a Proposed Substitute Future Project from its then contemplated Homestead Village projects which Homestead is considering pursuing or, if all such contemplated projects are then already included within the list of Future Projects under this Agreement, then Homestead may delay in identifying a Proposed Substitute Future Project until, in the ordinary course of its business, a new site for a contemplated Homestead Village project is identified within the Geographic Area.
Any such Proposed Substitute Future Project shall be located within the Geographic Area and, except as specifically noted in writing by Homestead, shall conform, to Homestead's then current knowledge, to the Prototypical Project requirements.
Borrower shall not apply any advances of Loan proceeds to costs other than those incurred in connection with the subject Future Project or Project for which the advance has been made.
The maximum amount of Loan proceeds that will be available to fund such Future Project (if Homestead thereafter delivers an Acquisition Notice for such Project) shall be equal to the Loan amount originally allocated to the applicable Rejected Project in Exhibit A.