Examples of Syndication Proceeds in a sentence
The Borrower acknowledges and agrees that other than the approval of the Draw Request by the Creditors, satisfaction of the Investor Conditions and satisfaction of the terms and conditions of this Agreement, there are no other terms or conditions which the Borrower must satisfy in order to be entitled to receive and use that portion of the Syndication Proceeds intended to fund the construction work (the “Work”) or costs covered by that Draw Request.
The Borrower covenants and agrees not to amend, restate, supplement or otherwise modify the Partnership Agreement, any of the Investor Conditions or any other provision governing or otherwise relating to, or affecting, the disbursement and/or uses of any Syndication Proceeds, without the prior written consent of the Creditors.
Each Creditor's respective inspector shall be entitled, but not obligated, to attend regularly scheduled monthly field progress meetings (each a “Field Progress Meeting”), the purpose of which shall be to review and agree on the percentage of the Work completed and in place and the amount of stored and insured materials on-site and off-site and to review, verify and agree on the amounts of the Loans and Syndication Proceeds to be advanced to the Borrower.
The Syndication Proceeds received pursuant to the Partnership Agreement shall be deposited in the Equity Account of the Project Fund.
The recitals set forth above are incorporated herein by reference and each party represents that, with respect to the recitals relating to each Loan, the Landlord Loan, and/or Syndication Proceeds to be provided to or by such party, such recitals are true and accurate in each and every respect.