Construction Closing definition

Construction Closing means the point in time when (i) Owner receives the Senior Loan; (ii) the Project is allocated the Low Income Housing Tax Credits, or tax credit exchange funds in lieu thereof; and (iii) the conditions precedent to the Construction Closing set forth in Section 7 of the Method of Financing have been satisfied, or have been waived in writing by the Party to be benefited.
View Source
Construction Closing means the date upon which all financing necessary for the construction of the Development will close, and any deeds of trust related to such financing, are recorded against the Borrower's leasehold interest in the Property.
View Source
Construction Closing means the closing of escrow on Developer's acquisition of the Property and on the financing for the construction of the Improvements.
View Source

Examples of Construction Closing in a sentence

  • Lending out your Fully-Paid Shares may be a way to increase the yield on your portfolio, because some shares are in high demand in the securities lending market and borrowers are willing to pay a loan fee for the use of your shares.

  • The Existing Interest Holders shall promptly notify Lessee of the occurrence of any of the foregoing events between the date of the execution of this Agreement and the date of the Construction Closing.

  • Except as otherwise expressly provided in this Agreement, the provisions of this Agreement shall remain in full force and effect with respect to the Leasehold and the Leasehold Improvements before and after the Construction Closing and continuing until Completion or full reconveyance of the Agency Deed of Trust, whichever occurs later.

  • As a condition precedent to the Construction Closing, Owner shall execute, and deliver to the Agency, the Environmental Indemnity.

  • Any modification to this Agreement prior to the Construction Closing must be in writing and signed by the Existing Interest Holders and the Lessee, and be approved by the Town Board of the Town of Greenburgh and the Westchester County Board of Legislators.

  • At least thirty (30) days prior to the Construction Closing, Lessee shall have the title re-examined by the title company and shall deliver to the Existing Interest Holders’ counsel a copy of said company’s updated report together with a notice of any liens, encumbrances or other defects of title subject to which Lessee is unwilling to accept the leasehold interests contemplated under this Agreement.

  • Upon the Construction Closing, Owner shall cause Title Company to issue the Title Policy to the Agency at Owner’s sole expense as an eligible Project cost.

  • The Agency Loan shall be used to pay a portion of the Rehabilitation Costs (which includes the acquisition of the Leasehold) as set forth in the Method of Financing and shall be disbursed pursuant to the Disbursement Agreement commencing on the Construction Closing Date.

  • Except as otherwise expressly provided herein, after the Construction Closing, or the earlier termination of the Town Ground Lease, any and all rights and obligations of the Existing Interest Holders hereunder shall be deemed to be rights and obligations of the County only for the remainder of the term of this Agreement.

  • At or prior to the Construction Closing, the Parties shall execute and deliver such instruments and documents as may be necessary to evidence and secure the Agency Loan, consistent with the terms of this Agreement, the Disbursement Agreement and the Method of Financing, and each in a form that is acceptable to the Agency Executive Director.


More Definitions of Construction Closing

Construction Closing means the date that all deeds of trust associated with Approved Financing necessary for the construction of the Development as shown on the Approved Development Budget are recorded against the Property.
View Source
Construction Closing means the date that deeds of trust evidencing the Development Financing described in Sections 1.1(cc), and the County Loan are recorded against the Property, immediately prior to the Commencement of Construction.
View Source
Construction Closing means the date upon which all financing necessary for the construction of the Project on the Property closes, and any deeds of trust related to such financing are recorded against the Property.
View Source
Construction Closing shall have the meaning specified in Section 2.16 of the Participation Agreement.
View Source

Related to Construction Closing

  • 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.

  • Acquisition Closing Date means the date on which the Acquisition is consummated.

  • Plant closing means the closing of a plant site or other corporate location that directly results in termination of the Grantee’s Service.

  • Loan Closing means the date on which an executed Loan Agreement between the Trust and a Borrower is delivered pursuant to this Bond Resolution.

  • Option Closing means the closing of the purchase and sale of the Option Shares pursuant to Section 2.2.