Construction Period Interest definition

Construction Period Interest means all interest that accrues on the Outstanding Principal during the Construction Period.
Sample 1Sample 2Sample 3
Construction Period Interest. An annual interest rate of One Percent (1.0%) over the Prime Rate applied to the portion of the Lessor's Maximum Cost that is disbursed, funded or accrued hereunder (including the accrued Excess Land Corny Cost), as computed each month (but in no event greater than the maximum rate then permitted under applicable law). Construction Period Interest shall be calculated monthly in arrears based on a 360-day year for each applicable period.
Sample 1
Construction Period Interest means, with respect to a Xxxxxxx Inn Hotel covered by an Approved Franchisee Loan, interest payable on the Approved Franchisee Loan for the period prior to the Completion Date, as itemized in the Approved Construction Budget.
Sample 1

Examples of Construction Period Interest in a sentence

  • Use proceeds from each Disbursement solely to finance: (i) the manufacture, construction, fabrication, financing and purchase of the Vessel; (ii) Construction Period Interest; and (iii) the Guarantee Fees.

  • Use the proceeds from the issuance of any Fixed Rate Notes to repay amounts owed under the Floating Rate Note or to finance: (i) the manufacture, construction, fabrication, financing and purchase of the Vessel; (ii) Construction Period Interest; and (iii) the Guarantee Fees.

  • On each such Funding Date as to which such an Advance is being made, the Construction Costs shall be increased by an amount equal to the Construction Period Interest, the Construction Period Yield, the Construction Period Fees and Construction Period Indemnity and Supplemental Rent Amounts so funded; provided, however, that if any such Advance hereunder would exceed the Available Commitment of a Participant, such Participant shall not have any obligation to make any such Advance.

  • The Lender hereby establishes the Credit Facility, upon the terms and conditions set forth in this Agreement, in favor of the Shipowner in the maximum amount of $153,091,000 (the "Credit Facility Amount"), to enable the Shipowner to finance: (i) the manufacture, construction, fabrication, financing and purchase of the Vessel; (ii) Construction Period Interest; and (iii) the Guarantee Fees.

  • The Lenders hereby establish the Credit Facility, upon the terms and conditions set forth in this Agreement, in favor of the Shipowner in the maximum amount of $91,198,000 (the "Credit Facility Amount"), to enable the Shipowner to finance: (i) the manufacture, construction, fabrication, financing and purchase of the Vessel; (ii) Construction Period Interest; and (iii) the Guarantee Fees; all as set forth in Certificates Authorizing Disbursements submitted in accordance with this Agreement.

  • If and when total Capital Addition Project Costs exceed Lessor's Maximum Cost, Lessee shall thereupon be required to pay to Lessor (rather than accrue as an allowance) damages equal to interest as an Additional Charge, at an annual rate of One Percent (1.0%) over the Prime Rate (but in no event greater than the maximum rate then permitted under applicable law, i.e., Construction Period Interest shall no longer accrue pursuant to Section 2.3(c)) on Lessor's Maximum Cost.

  • The amount of the Real Estate Loan outstanding from time to time shall bear interest as follows: (i) prior to the Conversion Date, at the Construction Period Interest Rate; and (ii) from and after the Conversion Date, at the Real Estate Loan Interest Rate.

  • The Lenders hereby establish the Credit Facility, upon the terms and conditions set forth in this Agreement, in favor of the Shipowner in the maximum amount of $187,295,000 (the "Credit Facility Amount"), to enable the Shipowner to finance: (i) the manufacture, construction, fabrication, financing and purchase of the Vessel; (ii) Construction Period Interest; and (iii) the Guarantee Fees; all as set forth in Certificates Authorizing Disbursements submitted in accordance with this Agreement.

  • Construction Period Interest Expense 0.0 0.0 0.0 0.0 ----------------------------------------------------------------------------------------------------- 29.

  • Delayed startup coverage insuring the Construction Agent and Lessor, as their interests may appear, for loss of rental income, Construction Period Interest, Construction Period Yield and other fixed expenses of the Construction Agent arising out of a delay in completion of the Improvements beyond the fourth anniversary of the Documentation Date due to a peril insured by the builder's risk policy required above, in an amount not less than $180,000,000.

Related to Construction Period Interest

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Final Completion Date means the date on which Final Completion occurs.

  • Completion Rate means the percentage of an apprenticeship cohort who receives a certificate of apprenticeship completion within 1 year of the projected completion date. An apprenticeship cohort is the group of individual apprentices registered to a specific program during a 1 year time frame, except that a cohort does not include the apprentices whose apprenticeship agreement has been cancelled during the probationary period or who have transferred.

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Construction Commencement Date means the date set out in the Addendum, if applicable, by which you must commence construction of the Hotel. For the Hotel to be considered under construction, youmust have begun to pour concrete foundations for the Hotel or otherwise satisfied any site-specific criteria for “under construction” set out in the Addendum.

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Substantial Completion Date means the required date for Substantial Completion of the Project. The Substantial Completion Date can be adjusted only by written Change Order.

  • Optimal Interest Remittance Amount For each Distribution Date, the product of (A) (x) the weighted average of the Net Mortgage Rates for the Mortgage Loans as of the first day of the related Collection Period divided by (y) 12 and (B) the Aggregate Loan Balance as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • The Completion Date means the date of completion of the Works as certified by the Employer’s Representative.

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Loan Commencement Date means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month.

  • Interest Remittance Amount With respect to any Mortgage Pool and Distribution Date, (a) the sum of (1) all interest collected (other than in connection with Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments in such Mortgage Pool during the related Collection Period by the Servicers, the Master Servicer, or the Trustee (solely acting in its capacity as successor Master Servicer), minus (x) the Servicing Fee with respect to the Mortgage Loans and (y) previously unreimbursed Advances and other amounts due to the Servicers, the Master Servicer or the Trustee (solely acting in its capacity as successor Master Servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans, (2) any Compensating Interest Payments with respect to the Mortgage Loans in such Mortgage Pool with respect to the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), (3) the portion of any Purchase Price, as applicable, or Substitution Amount paid with respect the Mortgage Loans in such Mortgage Pool during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period) allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), to the extent allocable to interest, as reduced by (b) other costs, expenses or liabilities reimbursable to the Trustee, the Master Servicer or each Servicer to the extent provided in this Agreement and each Servicing Agreement, and the Custodian pursuant to the Custodial Agreement; provided, however, that in the case of the Trustee, such reimbursable amounts may not exceed $500,000 during any Anniversary Year up to and including the Anniversary Year in which the Stepdown Date occurs and $200,000 during any Anniversary Year thereafter (the “Applicable Maximum Reimbursement Amount”). In the event that the Trustee incurs reimbursable amounts in excess of the Applicable Maximum Reimbursement Amount in any Anniversary Year, it may obtain reimbursement for such amounts in subsequent Anniversary Years, but in no event shall more than the Applicable Maximum Reimbursement Amount in aggregate be reimbursed to the Trustee per Anniversary Year. Notwithstanding the foregoing, costs and expenses incurred by the Trustee pursuant to Section 6.14(a) in connection with any transfer of servicing shall be excluded in determining the Applicable Maximum Reimbursement Amount limitation on reimbursable amounts per Anniversary Year. For the avoidance of doubt, (i) the Interest Remittance Amount available on each Swap Payment Date for distributions to the Supplemental Interest Trust Account shall be equal to the Interest Remittance Amount on the related Distribution Date and (ii) the Interest Remittance Amount for each Distribution Date shall be calculated without regard to any distributions to the Supplemental Interest Trust Account on the related Swap Payment Date.

  • Interest Commencement Date means the Issue Date of the Notes or such other date as may be specified as the Interest Commencement Date in the relevant Final Terms;

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

  • Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.

  • Interest Reset Period The period beginning on the applicable Reset Date and ending on the calendar day preceding the next Reset Date.

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.