Building Loan definition

Building Loan means the loan made by Lender to Borrower pursuant to this Agreement in the principal amount of up to the Building Loan Amount.

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Building Loan means the building loan procured by the Owner, if applicable, for purposes of financing the payment of the Works and which loan is secured by a mortgage bond;

Building Loan means the loan made by Lenders to Borrower pursuant to the Existing Building Loan Agreement in the principal amount of $215,000,000.00, or so much thereof as remains outstanding under the Building Loan Note.

Examples of Building Loan in a sentence

• Any amount borrowed and repaid hereunder in respect of the Building Loan may not be reborrowed.

• In no event may the Contingency Line Item of the Building Loan Budget be reallocated to any Line Item in the Project Loan Budget.

• Borrower shall comply with its covenants set forth in the Section of the Building Loan Agreement that corresponds to this Section.

• In addition, if the Required Ratios at Completion cannot be achieved even if the Earn Out Advances are reduced to $0.00, Lender shall have the right, but not the obligation, to apply any deposits held by Lender pursuant to the Rate Lock Agreement and any Interest Reserve Funds to the payment of the Building Loan and the Project Loan in such order and priority as Lender shall determine in its sole discretion.

• Any prepayment of the principal of the Loan, in whole or in part, voluntary or involuntary, shall be applied (a) first, to the reduction of the outstanding principal balance of the Project Loan until reduced to zero, and (b) second, to the reduction of the outstanding principal balance of the Building Loan until reduced to zero.

More Definitions of Building Loan

Building Loan and “Building Loans” has the meaning assigned to such term in Section 1.1 of the Building Loan Agreement.

Building Loan means that certain first mortgage construction loan in the principal amount of up to $500,000,000.00 made by Wells Fargo Bank, National Association as administrative agent and lender, and certain other lenders, to Aurora Convention Center Hotel, LLC, as evidenced by that certain Building Loan Agreement (the “Building Loan Agreement”) dated as of December 18, 2015, as amended.

Building Loan. The portion of the DOE Credit Facility to be advanced pursuant to the terms of the Building Loan Agreement.

Building Loan means a loan of R ( ) from a financial institution acceptable to the contractor, and which loan shall be secured by a mortgage bond over the land in favour of the said institution.

Building Loan means the building loan procured by the EMPLOYER, if applicable, for purposes of financing the payment of the Works and which loan is secured by a mortgage bond as per paragraph D of the Information Schedule;

Building Loan means that certain loan evidenced by the Building Loan Note in the maximum principal amount of up to One Hundred Twenty Eight Million One Hundred Ninety Seven Thousand Eight Hundred Seventy Eight and 00/100 Dollars $(128,197,878.00) made by Lender to Borrower to finance Hard Costs, which Building Loan is secured by, among other things, the Building Loan Mortgage.

Building Loan means a loan approved by the Bank for construction purposes.