Contingency Reserve. The Budget includes a contingency reserve in an amount designated in the Budget, and which may be disbursed by Lender at its sole discretion to effectuate the purposes of this Agreement. Interest will be payable by Borrower to Lender on that portion of the contingency reserve actually disbursed by Lender. The contingency reserve will be included in the computation of the undisbursed portion of the Loan for purposes of determining whether the undisbursed portion of the Loan will be sufficient to complete the construction of the Improvements.
Appears in 3 contracts
Sources: Loan Agreement, Loan Agreement (CNL Healthcare Trust, Inc.), Loan Agreement (CNL Healthcare Trust, Inc.)