Actual TCCO definition
Actual TCCO means the actual costs incurred by or on behalf of the Company until such time as the development and construction of the Senior Living Facility is completed and a certificate of occupancy is granted.
Examples of Actual TCCO in a sentence
In the event that Actual TCCO exceeds the Budgeted TCCO prior to such time as the Senior Living Facility obtains a certificate of occupancy and such excess is a result of events not constituting Force Majeure, ARC shall advance the cost of such overruns by (i) first, providing up to Seven Hundred Fifty Thousand Dollars ($750,000) of its own funds (which advances shall not be repaid and shall not be deemed a Member Loan or any other type of loan) and (ii) second, advancing ARC TCCO Capital.