Project Advance definition

Project Advance means the amount of immediately available funds to be transferred, set over, paid to, and held in the Project Account established pursuant to Section 4.1 of this Agreement for the benefit of the Owner.

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Project Advance means an advance of Loan proceeds by Lender to Borrower hereunder for the payment or reimbursement of any Permitted Expenses for Qualified Projects, which advance shall not be a Letter of Credit Advance.

Project Advance has the meaning specified in Section 2.16.

Examples of Project Advance in a sentence

• The period of this Local Project Advance Funding Agreement (LPAFA) is as stated in the Master Agreement Governing Local Transportation Project Advance Funding Agreements (MAFA), without exception.

• For each Existing Project, all costs, expenses, and fees to be paid by Borrower under the Loan Documents on or before the effectiveness of this Agreement, the effectiveness of the Commitment, or the making of Advances shall have been paid in full (or shall be paid in full concurrently with the making of the initial Project Advance), including without limitation applicable fees set forth herein.

• The making of a Project Advance by the Investor shall not constitute the Investor’s approval or acceptance of the construction theretofore completed.

• The Parties acknowledge that pursuant to this Agreement, the Project Advance is expected to be repaid by the Special Assessments.

• The conditions precedent to advances with respect to the Steamboat Project Advance Commitment set forth on Schedule I to the First Amendment are applicable to advances being made thereunder.

• Upon the considerations stated above and upon and subject to the terms and conditions of this Agreement, the Investor, on behalf of the Parties, shall make the Project Advance available to the Owner to pay the costs of the Project.

• The BankBoston Interim Steamboat Project Advance shall remain outstanding and shall have not been accelerated or payment demanded in respect thereof.

• The Investor shall credit, on the dates shown on the Repayment Schedule (which is attached to, and incorporated into, this Agreement as Exhibit B), Special Assessments in the amounts shown on the Repayment Schedule to the payment of accrued interest on the Project Advance and to the repayment of the portion of the principal of the Project Advance scheduled to be repaid on such date.

• Anything contained in any other written agreement or letter to the contrary notwithstanding, all of the Steamboat Security Documents and all of the Steamboat Construction Project Advance Notes and other Steamboat Project-related Collateral continues to be part of the Security Documents, Collateral and Obligations under the Existing LSA, as amended hereby.

• Furthermore, Borrower agrees that all disbursements of the Steamboat Project Advance Commitment shall also be governed by the Revised Budget.

More Definitions of Project Advance

Project Advance means the amount of immediately available funds to be transferred, set over, or paid pursuant to Section 4.1 of this Agreement for the benefit of the Lessee and including amounts retained by Investor for payment of capitalized interest and administrative expenses.

Project Advance as defined in Section 2.2 of this Agreement. Project Advance Request -- as defined in Section 6.3 of this Agreement.

Project Advance means, either individually or collectively as the context indicates, any Renovation Project Advance and/or Future Project Advance.

Project Advance means a Term Loan Advance, other than a Construction Advance or an Equipment Advance, for any item in the Project Budget.

Project Advance means each advance of funds to a Co-Borrower under this Agreement in accordance with Section 7.3, or 7.4 of this Agreement, as applicable.

Project Advance means an advance by a Lender to the Borrower pursuant to Section 2.01(a) of the Credit Agreement.