Construction Advance definition

Construction Advance means an advance of funds to pay Property Costs pursuant to Section 5.4 of the Participation Agreement.

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Construction Advance means any Advance for Costs of Construction which are properly payable to appropriate Contractors pursuant to the Construction Contracts.

Construction Advance means any Advance for the payment of Project Costs.

Examples of Construction Advance in a sentence

It is expressly agreed that the Board’s obligation to make any Construction Advance shall be subject to satisfaction of the following conditions, unless waived by the Board at its sole discretion.
In the event the Board elects to waive any requirements or conditions contemplated herein with regard to any such Construction Advance, such waiver shall not preclude the Board from thereafter requiring full and complete performance of all terms, conditions and requirements with regard to any subsequent Advance.
To be effective for purposes of this Agreement, a Construction Advance Request must be in substantially the form attached as Exhibit C.
On each Property Closing Date, on the date of any Construction Advance or any Completion Date, after delivery of the applicable Requisition and satisfaction of the other conditions precedent for such date, the Holders shall make a Holder Advance and the Lenders shall make Loans to the Lessor to pay for the Transaction Expenses, fees, expenses and other disbursements referenced in this Section 7.1(b).
Further, none of the proceeds from the Initial Advance or any Construction Advance will be used to finance any operations, investments or activities in, or make any payments to, any such country, agency, organization, or person.

More Definitions of Construction Advance

Construction Advance means an advance of the Committed Amount to pay costs of the Project pursuant to Section 4.1 (a) or to reimburse the Borrower pursuant to Section 4.1 (c) for costs of a Project not yet completed.

Construction Advance means an advance of funds by any of the Lessor Parties to pay, or to reimburse the Lessee, the Construction Agent or a designee or designees of either for, Property Costs pursuant to Section 5.4 of the Participation Agreement.

Construction Advance and "Construction Advances" shall have the meanings provided therefor in Section 1.01(d) hereof.

Construction Advance means an Advance all or a portion of which is or will be used to construct improvements on Real Property or otherwise used in the development of Real Property.

Construction Advance means any Advance for construction purposes with respect to any Sub-Loan Agreement.

Construction Advance means an Advance made against a Construction/Perm Mortgage Loan and readvances of funds previously advanced to the Company and repaid to the Lender.

Construction Advance means each Advance made by the Lessor and the Agent to the Construction Agent for the purpose of paying Property Improvement Costs with respect to City Center II, as the case may be.