Examples of Other Borrower Moneys in a sentence
If the proceeds of the Borrower Loan, together with the Other Borrower Moneys, available to be disbursed to the Borrower are not sufficient to pay the costs of such construction or rehabilitation, as appropriate, and equipping, the Borrower shall pay such additional costs from its own funds.
If the proceeds of the Borrower Loan, together with the Other Borrower Moneys, available to be disbursed to the Borrower are not sufficient to pay the costs of such construction and equipping, the Borrower shall pay such additional costs from its own funds.
If the proceeds of the Borrower Loan, together with the Other Borrower Moneys, available to be disbursed to the Borrower are not sufficient to pay the costs of such rehabilitation and equipping, the Borrower shall pay such additional costs from its own funds.
If the proceeds of the Borrower Loan, together with the Other Borrower Moneys, available to be disbursed to the Borrower are not sufficient to pay the costs of such rehabilitation, the Borrower shall pay such additional costs from its own funds.
The execution of this Loan Agreement by Borrower shall, and hereby does, constitute an irrevocable direction and authorization by Borrower to Lender to make such Disbursements of the Loan Proceeds and Other Borrower Moneys.
Notwithstanding the foregoing, if, at any time, Administrative Agent determines, in Administrative Agent’s reasonable discretion, that it is unlikely that Borrower will deliver to Administrative Agent all or a portion of the Other Borrower Moneys, Administrative Agent can exclude such amount from its determination of whether the Loan is In Balance.
Borrower hereby expressly acknowledges that Administrative Agent may approve a Funding Requisition submitted by Borrower but may disburse Other Borrower Moneys or make the requested Disbursement in any of the methods described in the preceding sentence, under the circumstances set forth above, whether or not such method is the method selected by Borrower in its Funding Requisition, and Borrower hereby consents to any such action by Administrative Agent.
The Loan is “out of balance” if and when Administrative Agent in its reasonable judgment determines that there are insufficient funds (including all undisbursed Loan Proceeds and any Other Borrower Moneys provided or to be provided by Borrower) to pay for all such remaining costs and sums payable under the Loan Documents and BANS Documents.
If the proceeds of the Borrower Loan, together with the Other Borrower Moneys, available to be disbursed to the Borrower are not sufficient to pay the costs of such construction, development and equipping of the Project, the Borrower shall pay such additional costs from its own funds.
Borrower further acknowledges that the Loan may become “out of balance” from a shortage of funds in any single Budget Line Item or category of the Cost Breakdown, even if there are undisbursed Loan Proceeds or Other Borrower Moneys in other Budget Line Items or categories.