Loan Budget definition

Loan Budget means the budget for total estimated Project Costs prepared by Mortgage Borrowers and approved by Mortgage Lender in its reasonable discretion, which shall detail all items of direct and indirect costs estimated to be incurred in connection with the construction of the Project, and all amendments and modifications thereto approved by Mortgage Lender in accordance with the Mortgage Loan Agreement.
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Loan Budget means the final budget prepared by the Issuer, as approved by the Bank, showing, on a line-by-line basis, the maximum limit of expenditures from the Bond proceeds for each line category (subject to adjustment of any line category by discernable savings from other budget line categories) for construction of the Project.
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Loan Budget means the Loan Budget attached hereto as Exhibit C, as the same may be amended, modified, supplemented or replaced from time to time.
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Examples of Loan Budget in a sentence

  • In no event may the Contingency Line Item of the Building Loan Budget be reallocated to any Line Item in the Project Loan Budget.

  • Borrowers shall have delivered to Lender (i) the Pre-Construction Budget; (ii) the Loan Budget, to the extent required under the Mortgage Loan Agreement; and (iii) the Annual Budget for the current Fiscal Year.

  • The Project Loan Budget shall reflect, by category and line item, the purposes and amounts for which funds to be advanced by Lender under this Agreement are to be used.

  • If Borrower becomes aware of any change in actual or projected Project Loan Costs which will increase any one or more category or line item of costs reflected in the Project Loan Budget, Borrower shall immediately notify Lender in writing and promptly submit to Lender for its approval a revised Project Loan Budget.

  • Provided no Event of Default exists and with Lender’s consent (which shall not be unreasonably withheld), after Completion of the Improvements, Borrower may draw amounts available under the Contingency Line Item of the Project Loan Budget to fund Shortfalls in monthly interest due, which amounts shall be deposited in the Interest Reserve.


More Definitions of Loan Budget

Loan Budget shall have the meaning as set forth in Section 2.1.14.
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Loan Budget means initially, the Initial Loan Budget delivered pursuant to Section 5.1(a)(xiii) until such budget is replaced in accordance with Section 7.3(a), and thereafter the most recent budget to become effective in accordance with Section 7.3(a).
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Loan Budget shall have the meaning assigned to such term in the Mortgage Loan Agreement.
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Loan Budget shall have the meaning as set forth in Section 2.1.6 of the Building Loan Agreement.
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Loan Budget has the meaning set forth in Section 1.1.4.
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Loan Budget means: The sources and uses of the Loan attached as Exhibit B.
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Loan Budget as defined in the Building Loan Agreement.
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