Common use of Final Advance Clause in Contracts

Final Advance. The amount of the Final Advance shall be made in accordance with the Budget and the Certificate of Substantial Completion, and shall be sufficient, subject to the provisions of paragraph (d) of this subsection 3.3, for payment in full of all costs of designing, constructing, equipping and installing the Project (other than those costs that are not yet due in connection with the designing, constructing, equipping and installing of the Project and which will be included as part of the Completion Advance, provided that (i) the Available Commitment remaining after the Final Advance is equal to or exceeds the aggregate amount of all such costs and (ii) such costs will not exceed the limits of the Budget), free of all Liens other than Permitted Liens. Owner shall have no obligation to make the Final Advance unless Owner is satisfied that all such costs as set forth in the Budget, the Certificate of Substantial Completion, and the request for the Final Advance have been actually incurred, or will be incurred, in construction and equipping of the Project, free of all Liens, except for Permitted Liens, and shall not cause the Acquisition Cost (inclusive of all costs that are not yet due but will be subsequently included as part of a Completion Advance) to exceed the maximum amount for the Project set forth in subsection 2.2 hereof. Agent shall request the Final Advance within thirty (30) days of achieving Substantial Completion.

Final Advance. The amount of the Final Advance shall be made in accordance with the Budget and the Certificate of Substantial Completion, and shall be sufficient, subject to the provisions of paragraph (d) of this subsection 3.3, for payment in full of all costs of designing, constructing, equipping and installing the Project (other than Unreimbursed Project Costs which Agent has not designated to be paid in the Final Advance and those estimated costs that are not yet due in connection with the designing, constructing, equipping and installing of the Project and which will be included as part of a Completion Advance in an amount not to exceed the Completion Advanceamount of such estimate, provided that (i) the sum of the Available Commitment remaining and any insurance or condemnation proceeds available to Owner after the Final Advance is equal to or exceeds the aggregate amount of all such costs and (ii) such costs will not exceed the limits of the Budgetestimated costs), free of all Liens other than Permitted Liens. Owner shall have no obligation to make the Final Advance unless Owner is satisfied that all such costs as set forth in the Budget, the Certificate of Substantial Completion, and the request for the Final Advance have been actually incurred, or will be incurred, in construction and equipping of the Project, free of all Liens, except for Permitted Liens, and shall not cause the Acquisition Cost (inclusive of all costs that are not yet due but will be subsequently included as part of a Completion Advance) to exceed the maximum amount for the Project set forth in subsection 2.2 hereof. Agent shall request the Final Advance within thirty (30) days of achieving Substantial Completion.

Final Advance. The amount of the Final Advance shall be made within the limits of the Unit Budget and in accordance with the Budget and the Certificate of Substantial Completion, and shall be sufficient, subject to the provisions of paragraph (d) of this subsection 3.3, for payment in full of all costs of acquiring, designing, furnishing, constructing, financing, equipping and installing of the Project Unit in connection with Substantial Completion of the Unit (other than Unreimbursed Unit Costs which Agent has not designated to be paid in the Final Advance and those estimated costs that are not yet due in connection with the acquiring, designing, furnishing, constructing, financing, equipping and installing of the Project such Unit and which will be included as part of the a Completion Advance, provided PROVIDED that (i) the Available Commitment remaining after the Final Advance is equal to or exceeds the aggregate amount of all such costs and (ii) such costs will not exceed the limits of the Budgetestimated costs), free of all Liens other than Permitted Liens. Owner shall have no obligation to make the Final Advance unless Owner is satisfied that all such costs as set forth in the Unit Budget, the Certificate of Substantial Completion, and the request for the Final Advance have been actually incurred, or in the case of punch list items will be incurred, in construction the acquiring, designing, furnishing, construction, financing, equipping and equipping installing of the ProjectUnit, free of all Liens, except for Permitted Liens, Liens and shall not cause the Unit Acquisition Cost (inclusive of all costs that are not yet due but will be subsequently included as part of a Completion Advance) the Unit to exceed the maximum amount for the Project set forth in subsection 2.2 hereof. Agent shall request the Final Advance within thirty (30) days of achieving Substantial CompletionUnit Budget.