Construction Loan Term Clause Samples
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Construction Loan Term. Borrower may prepay the principal balance outstanding under the Loan in whole or in part at any time during the Construction Loan Term, provided that between the date of this Agreement through and including June 30, 2014, the Borrower shall pay a premium equal to one percent (1.0%) of the principal amount being prepaid at the time of such prepayment. From July 1, 2014 through and including the day immediately prior to the first day of the Permanent Loan Term, Borrower may prepay the principal balance outstanding under the Loan in whole or in part without premium or penalty.
Construction Loan Term. The Construction Loan term shall run for a period beginning on the date of this Agreement and ending on the Conversion Date. On the Conversion Date, the Construction Loan shall become fully due and payable, except for that part, if any, of the Construction Loan which is converted into a Term Loan pursuant to the terms of this Agreement.
Construction Loan Term. The Construction Loan shall be available to Borrower for a period beginning on the Closing Date and ending on the Conversion Date. On the Conversion Date, the amount of the then unpaid principal balance of the Construction Loan and any and all other amounts due and owing hereunder or under any other Construction Loan Document relating to the Construction Loan shall be due and payable, except for that part, if any, of the Construction Loan which is converted into a Term Loan pursuant to the terms of the MLA and this First Supplement and a Term Revolving Loan pursuant to the Second Supplement to the Master Loan Agreement.
Construction Loan Term. The Construction Loan shall run for a period beginning on the Closing Date and ending on the Construction Loan Maturity Date. On the Construction Loan Maturity Date, the amount of the then unpaid principal balance of the Construction Loan and any and all other amounts due and owing hereunder or under any other Construction Loan Document relating to this Construction Loan shall be due and payable, except for that part, if any, of the Construction Loan which is converted into a Term Loan pursuant to the terms of the MLA.
Construction Loan Term. From and after the date of each Advance through the Construction Loan Term, the outstanding principal balance of the Loan shall bear interest at the Fixed Interest Rate.