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.
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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.

Related to Construction Balance

  • Lease Balance means, as of any date of determination, an amount equal to the aggregate sum of the outstanding amount of the Advances, plus (without duplication) all accrued and unpaid Basic Rent and all Supplemental Rent owing by the Lessee under the Operative Documents.

  • Construction Completion Date or “Completion Date” means the date by which the overall Development of the Project is completed in accordance with the provisions of this Agreement and when the Completion Certificate is issued by the Authority as per Article 14.1.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.