Examples of Construction Loan in a sentence
CGHFL offers a variety of loan options depending on the requirement of the Borrower like Loan for Purchase/Construction/Renovation of Property or Purchase of Plot + Construction Loan.
The Borrower shall punctually pay all amounts due owing or outstanding under the Construction Loan Facility on the due date or dates thereof and in accordance with the provisions of this Agreement and the Security Documents.
The interest rate of the Construction Loan Facility is specified in the Facility Letter.
In the event that the Construction Loan Facility or any part thereof is cancelled or not utilized by the Borrower after acceptance of the Facility Letter, the Borrower shall pay a cancellation fee of one per cent (1%) of the original loan amount and any other costs and charges incurred by the Lender on behalf of the Borrower.
The first payment of interest shall be made on the first day of the month immediately following the first Drawing under the Construction Loan Facility or any or them is made and subsequent interest payments shall be made on the first day of every succeeding calendar month.