Project Sources and Uses Statement definition
Examples of Project Sources and Uses Statement in a sentence
Except for costs identified in the Project Sources and Uses Statement, make Capital Expenditures in fixed assets in an aggregate amount in excess of Two Million and No/100 Dollars ($2,000,000.00) during any fiscal year during the term of this Agreement.
The Borrower shall have closed on all Subordinated Debt contemplated by the Project Sources and Uses Statement, and the proceeds of all Subordinated Debt shall have been disbursed by the holders of all Subordinated Debt pursuant to the provisions of the Disbursing Agreement.
In the good faith judgment of the Agent (after consultation with independent third parties when deemed necessary or advisable by the Agent), the Project will not be completed in substantial accordance with the Plans and Specifications, the Project Sources and Uses Statement and/or the Legal Requirements or the other provisions of this Agreement or the Loan Documents.
The Banks agree to make a single Advance to Borrower on the Conversion Date in an amount not to exceed the difference between (x) the total amount of the Project Costs set forth on the Project Sources and Uses Statement, and (y) the actual amount of the Project Costs expended on the Project as of the Conversion Date (the "Refunding Advance").
Until the Conversion Date, funds held in the Equity Escrow Fund shall be used by the Disbursing Agent: (a) first, to replenish the Contingent Project Cost Reserve, and (b) second, for the payment of Project Costs exceeding the amount set forth in the Project Sources and Uses Statement.
The Disbursing Agent may from time to time in its reasonable discretion disburse amounts from the Contingent Project Cost Reserve to pay for Project Costs exceeding the amount set forth in the Project Sources and Uses Statement.
Subject to the terms and conditions of this Amendment, the Banks hereby: (i) waive any and all covenant violations or Events of Default as of the date of this Amendment, if any, arising out of or related to increased Project Costs, under the Credit Agreement and Loan Documents arising out of or related to the Project Cost Overruns; (ii) approve the Project Sources and Uses Statement, as defined below; and (iii) consent to the terms and conditions of the Commerce Bank Loan, as defined below.
Except for costs identified in the Project Sources and Uses Statement, make any investment in fixed assets in the aggregate amount of One Million and No/100 Dollars ($1,000,000.00) during any fiscal year during the term of this Agreement.