Construction Balance definition
Construction Balance means, at any time, (i) the then outstanding principal amount of the Lessor Notes together with accrued but unpaid interest thereon, Make-Whole Premium, if any, and any amounts then due and owing to the Noteholders pursuant to Article XII of the Participation Agreement plus (ii) the total amount of Equity Contributions made by the Owner Participant as of such date together with accrued but unpaid Equity Yield thereon, all Breakage Costs, if any, and any amounts then due and owing to the Owner Participant pursuant to Article XII of the Participation Agreement.
Examples of Construction Balance in a sentence
To the extent that the Owner Lessor receives insufficient funds under such Section 12.1(a) or such Section 12.2(a) to satisfy its indemnity obligations under Section 12.1(g) or Section 12.2(j), respectively, then such amounts received under such Section 12.1(a) or Section 12.2(a) shall be distributed pro rata to the Owner Participant and the Noteholders based on the ratio of the outstanding Construction Balance of each such Participant.
Evidence satisfactory to the Facility Agent of each of the Principal Hull Balance and the Principal Construction Balance and agreement by the Facility Agent of the amount of each of the Principal Hull Balance and the Principal Construction Balance.