In Balance definition

In Balance means, on any occasion, that the amount of the undisbursed Limited Partner's Capital Contribution are sufficient in the Limited Partner's reasonable judgment to pay, through Completion of Construction, all of the following sums: (a) all costs of construction, marketing, ownership, maintenance and leasing of the Apartment Housing units; and (b) all sums payable under the Construction documents.

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In Balance as defined in the Disbursement Agreement.

In Balance means, on any occasion, when the amount of the undisbursed Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the issuance of a certificate of occupancy (or the local equivalent) are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction and renovation to achieve Completion of Construction and Renovation; (b) all costs of marketing, ownership, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.

Examples of In Balance in a sentence

• However, notwithstanding anything to the contrary contained in this Lease, at no time shall Tenant be required to pay any amounts into the Restoration Fund, including, without limitation, any deductibles under any insurance policies so long as the Restoration Fund remains In Balance.

• In lieu of making any payments into the Restoration Fund, Tenant may contribute funds directly toward the cost of the Restoration in order to bring the Restoration Fund In Balance.

• Anything in this Agreement contained to the contrary notwithstanding, it is expressly understood and agreed that the Loan at all times shall be In Balance (as hereinafter defined).

• Lender shall not be obligated to make any Loan disbursements if and for as long as the Loan is not In Balance.

• For purposes of determining compliance by Aladdin Gaming with the representation in Section 8(t) of the Facilities Agreement, the Main Project Budget shall be deemed to be "In Balance" for purposes of this Agreement only if (x) the amount required to bring the Main Project Budget "In Balance" does not exceed $5,000,000 or (y) such amount is greater than $5,000,000, the Unallocated Contingency Balance equals or exceeds the amount required to bring the Main Project Budget In Balance.

More Definitions of In Balance

In Balance means, with respect to each Project, no Deficiency then exists with respect to such Project.

In Balance means, on any occasion, when the amount of the undisbursed Construction Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the issuance of a certificate of occupancy (or the local equivalent) are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction to achieve Completion of Construction; (b) all costs of marketing, ownership, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.

In Balance has the meaning set forth in Section 4.8(a).

In Balance means, at any time when calculated, when the cumulative amount of the undisbursed Construction Loan and the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner required to be paid-in through and including the Completion of Construction are sufficient in the Special Limited Partner's reasonable judgment to pay all of the following sums: (a) all costs of construction to achieve Completion of Construction; (b) all soft costs in the development of the Apartment Housing and Improvements, including but not limited to, architect fees, land acquisition, impact fees and costs of marketing, maintenance and leasing of the Apartment Housing units; and (c) all interest and all other sums accruing or payable under the Construction Loan documents. In making a determination that the financing is In-Balance, the Special Limited Partner will also consider whether the undisbursed Capital Contributions of the Limited Partner and Special Limited Partner, the Mortgage and other sources of permanent financing (but not Cash Receipts) are adequate to retire the Construction Loan at the earlier of the time of Mortgage closing and funding, or maturity of the Construction Loan.

In Balance has the meaning given to such term in Section 3.06 hereof.

In Balance has the meaning provided in Section 4.4 of this Agreement.

In Balance. As that term is defined in Section 3.5.