Common use of Additional Advance Clause in Contracts

Additional Advance. Subject to the terms and conditions of this Agreement, Lenders agree to provide Borrowers, and Borrowers shall be deemed to have accepted (if and when disbursed), an additional advance in the principal sum of $92,000,000.00 (the “Additional Advance”). The Additional Advance, together with the principal amount of the Original Loan, shall be evidenced by the Note, as amended hereby, and shall be secured by the Deeds of Trust and the other Loan Documents (except those Loan Documents specifically stated to be unsecured). For avoidance of doubt, no further options remain exercisable by Borrower with respect to their Accordion Option (as defined in Section 7.20 of the Loan Agreement). The Original Loan shall be deemed consolidated with the Additional Advance to form a single indebtedness in the principal amount of $200,000,000.00 (the “Increased Committed Amount”). At no time during the term of the Loan shall the outstanding amounts owing under the Loan exceed the Increased Committed Amount. The allocation of the Increased Committed Amount between the Non-revolving Portion and the Revolving Portion shall be $120,000,000 to the Revolving Portion and $80,000,000 to the Non-revolving Portion, and any references in the Loan Documents to such terms shall be revised accordingly.