Determination of Advance Amounts Clause Samples

Determination of Advance Amounts. As of any date of any requested Advance, after giving effect to the Advance: (a) the aggregate outstanding principal amount of all Advances then made to the Borrower under the FFB Note (including, for the avoidance of doubt, the principal amount of such requested Advance) shall not exceed eighty percent (80%) of the amount of Eligible Project Costs incurred and either expended or accrued on or prior to the date of such requested Advance; and (b) the aggregate outstanding principal amount of all Advances shall not exceed the Guaranteed Loan Commitment Amount (collectively, clauses (a) and (b) are referred to as the “Debt Sizing Parameters”).

Determination of Advance Amounts. As of any Requested Advance Date, after giving effect to such requested Advance: the sum of: (i) the aggregate outstanding principal amount of all Advances then made to the Borrower under the Note outstanding (including, for the avoidance of doubt, the principal amount of such requested Advance); and (ii) the Aggregate Capitalized Interest, shall not exceed [***] of the sum of: (A) Eligible Project Costs (excluding all interest for such purposes) incurred and paid on or prior to the relevant Requested Advance Date (or with respect to the final Advance, reasonably anticipated to be paid within ninety (90) days after such Requested Advance Date); and (B) the Aggregate Capitalized Interest; (b) the outstanding principal amount of the Loan shall not exceed the Maximum Principal Amount; and (c) the aggregate amount of capitalized interest shall not exceed the Maximum Capitalized Interest Amount.

Determination of Advance Amounts. (A) the aggregate amount of all Advances made to the Borrower under the FFB Note for such Tranche shall not exceed the applicable Maximum Tranche Commitment Amount; (B) the aggregate amount of all Advances made to the Borrower under the FFB Note then-outstanding shall not exceed the Maximum Guaranteed Loan Amount and shall otherwise comply with the Debt Sizing Parameters; and (C) the aggregate amount of capitalized interest shall not exceed the Maximum Capitalized Interest Amount.

Determination of Advance Amounts. (a) The aggregate amount of Advances made to the Borrower under Note A (together with all capitalized interest thereon, which shall be determined as provided in, and subject to the limitations in, Note A and Section 3.05(a) (Interest Account and Interest Computations)) shall not, as of any date of determination, be more than the lesser of (a) ****% of the sum of all Block 1 Project Costs incurred and paid (including any Advance proceeds applied to fund the Debt Service Reserve Account) as of such date of determination, (b) an amount that together with the Note B Maximum Loan Amount satisfies the Debt Sizing Parameters, and (c) $3,670,763,503.06 (such lesser amount, the “Note A Maximum Loan Amount”); it being understood that the maximum aggregate amount of Advances made to pay or reimburse Eligible Project Costs with respect to Block 1, excluding capitalization of interest on Note A, will not exceed an amount equal to $3,670,763,503.06 minus the Note A Maximum Capitalized Interest Amount. (b) The aggregate amount of Advances made to the Borrower under Note B (together with all capitalized interest thereon, which shall be determined as provided in, and subject to the limitations in, Note B and Section 3.05(a) (Interest Account and Interest Computations)) shall not, as of any date of determination, be more than the lesser of (a) ****% of the sum of all Block 2 Project Costs incurred and paid (including any Advance proceeds applied to fund the Debt Service Reserve Account) as of such date of determination, (b) an amount that together with the Note A Maximum Loan Amount satisfies the Debt Sizing Parameters, and (c) $2,897,602,410.09 (such lesser amount, the “Note B Maximum Loan Amount”); it being understood that the maximum aggregate amount of Advances made to pay or reimburse Eligible Project Costs with respect to Block 2, excluding capitalization of interest on Note B, will not exceed an amount equal to $2,897,602,410.09 minus the Note B Maximum Capitalized Interest Amount.

Determination of Advance Amounts. The aggregate amount of Advances made to the Borrower under the Notes (together with all capitalized interest thereon, which shall be determined as provided in, and subject to the limitations in, the Notes and Section 3.05(a) (Interest Account and Interest Computations)) shall not, as of any date of determination, be more than the lesser of (a) 70% of the sum of all Eligible Project Costs incurred and paid (including any Advance proceeds applied to fund the Debt Service Reserve Account) as of such date of determination, and (b) $475,000,000 (such lesser amount, the “Maximum Loan Amount”); it being understood that the maximum aggregate amount of Advances made to pay or reimburse Eligible Project Costs, excluding capitalization of interest on the Loan, will not exceed an amount equal to $475,000,000 minus the Maximum Capitalized Interest Amount.

Determination of Advance Amounts. (a) As of each Requested Advance Date other than the Requested Advance Date for the First Advance, after giving effect to the requested Advance (clauses (i) through (iii) below, collectively, the “Debt Sizing Parameters”): (i) the outstanding principal amount of the Guaranteed Loan shall not exceed 80% of the sum of (A) Eligible Project Costs (excluding interest) incurred and paid on or prior to such Requested Advance Date or projected to be paid on or prior to the [*****] after the Requested Advance Date with respect to Qualified Stalls owned by the Borrower or projected to be contributed to the Borrower during such period, (B) the aggregate amount of capitalized interest on all Advances made prior to such Requested Advance Date and (C) solely with respect to the last Advance, the Account Funding Requirement of the Debt Service Reserve Account, if being funded by such Advance; (ii) the projected ratio of (A) the amount of the Guaranteed Loan to (B) the aggregate amount of Project Costs (including (x) capitalized interest, (y) Project Costs incurred and paid on or prior to such Requested Advance Date or projected to be paid on or prior to the [*****] after such Requested Advance Date with respect to Qualified Stalls owned by the Borrower or contemplated to be contributed to the Borrower during such period and (z) solely with respect to the last Advance, the Account Funding Requirement of the Debt Service Reserve Account, if being funded by such Advance) (the “Loan to Value Ratio”) as of such date of determination shall not exceed 65:35; and (iii) the amount of the Guaranteed Loan shall not exceed $1,247,705,000, the aggregate amount of Advances shall not exceed the Maximum Aggregate Amount of Advances and the aggregate amount of capitalized interest thereon shall not exceed the Maximum Capitalized Interest Amount. (b) The First Advance shall not exceed the sum of (x) $50,000,000 and (y) 80% of the Eligible Project Costs incurred and paid or projected to be paid on or prior to the [*****] after the First Advance Date by the Sponsor with respect to the Qualified Stalls the Project Costs of which are being reimbursed with the First Advance.

Determination of Advance Amounts. As of any date of any requested Advance, after giving effect to the Advance: (a) the sum of:

Determination of Advance Amounts. Lender hereby agrees, if Borrower has Performed all of the Obligations then due, to make an Advance to Borrower in accordance with the terms and conditions of this Agreement for the purposes specified in Section 2.3. The maximum amount of the Advance shall be equal to the aggregate Borrowing Base for all Eligible Notes Receivable; provided, however, at no time shall the unpaid principal balance of the Loan exceed the Maximum Loan Amount.

Determination of Advance Amounts