Examples of Project Loans in a sentence
Wichita GP covenants that the Project Loan Documents shall include nonrecourse language that eliminates all personal liability of the Partnership and its Partners for the payment of the Project Loans, excluding only carveouts to the nonrecourse language typically required by institutional lenders based on fraud, misappropriation of funds or other specified "bad acts" of the Partnership or its Partners.
Wichita GP shall be required to fund Operating Deficits pursuant to this Section 6.9(b) by the earlier of (A) the date required to avoid a default or penalties under Partnership obligations, including without limitation the Project Loans, and (B) the date required to keep all expenses without a specific maturity date paid 45 days after the date of the invoice.
Such budgets shall specifically list all budgeted expenses in all major categories including, but not limited to, administration, operation, repairs and maintenance, utilities, taxes, insurance, interest, debt service with respect to the Project Loans, capital improvements, and all budgeted expenses which are to be paid to the General Partner, or its Affiliates.
Wichita GP represents and warrants that the Project Loans shall at all times constitute nonrecourse indebtedness for federal income tax purposes.
The CDE and the Project Borrower shall have executed and delivered all of the Project Loan Documents and Borrower shall have provided true, correct, and complete copies thereof to Lender, and all conditions to funding of the Project Loans thereunder shall have been satisfied (or waived in writing with the consent of the Lender).