Construction Disbursements definition

Construction Disbursements means reference to the proceeds of the Construction Loan Subfacility which are disbursed for financing the development, furnishing, equipping and construction of the ACLVI Project in accordance with the Project Development Budget and as provided in Article IX.
Sample 1
Construction Disbursements means reference to the proceeds of the Credit Facility which are disbursed pursuant to the provisions set forth in Section 2.04 and Article IX, for the purpose of paying for the costs and expenses of constructing and developing the Project in accordance with the Project Development Budget, Loan Construction Budget and Construction Disbursement Schedule.
Sample 1
Construction Disbursements means such amounts as are advanced by Lenders from time to time under the C/T Loan during the Construction Period pursuant to written request of Borrower by Construction Disbursement Request in the manner provided in Section 2.04 and as provided in Article IX.
Sample 1

Examples of Construction Disbursements in a sentence

  • Lenders reserve the right, in their sole discretion upon the approval of Requisite Lenders, from time to time to make any Construction Disbursements without regard to any condition herein.

  • Lenders shall not be required to make any Construction Disbursements unless and until the representations and warranties contained in Article IV of this Credit Agreement are true and correct in all material respects on and as of the date of such Construction Disbursement, as though made on and as of such date.

  • Thereafter, so long as no Event of Default shall have occurred and be continuing, no further Retainage shall be retained from Construction Disbursements thereafter made unless Agent Bank is otherwise instructed by Borrower.

  • No Construction Disbursements may be used by Borrower for the payment of any costs, expenses or other items which are not set forth on the Construction Budgets.

  • No Construction Disbursements Required in Event of Default.......................................104 Section 9.10.

  • No Construction Disbursements Required if Cloud on Title Exists..................................104 - viii - 10 Section 9.11.

  • All Construction Disbursements shall be payable to Borrower or in - 100 - 114 the sole and absolute discretion of Agent Bank, jointly to Borrower and General Contractor for those amounts payable to the General Contractor.

  • The balance of the Construction Loan proceeds remaining to be disbursed subsequent to the initial disbursement; i.e., $4,000,000 hereinafter called "Construction Disbursements", shall be disbursed during the progress of the construction of the Improvements only on the terms and conditions hereinafter provided.

  • Provided, however, upon the consent of the Requisite Lenders, Lenders shall advance Construction Disbursements notwithstanding the existence of less than full compliance with the requirements of Article III B or Article IX and Construction Disbursements so made shall be deemed to have been made pursuant to this Credit Agreement.

  • Each Borrowing, other than Construction Disbursements, shall be in a minimum amount of Fifty Thousand Dollars ($50,000.00) and in increments of Ten Thousand Dollars ($10,000.00).

Related to Construction Disbursements

  • Construction Costs means land costs, all costs paid to construct and complete the Improvements, as specified on Exhibit "B" attached hereto and made a part hereof.

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Disbursement is defined in Section 2.6.2.

  • 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.

  • Construction Work means any work in connection with⎯

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Construction and demolition debris means and includes:

  • Construction Fee means a fee or other remuneration for acting as general contractor and/or construction manager to construct improvements, supervise and coordinate projects or provide major repairs or rehabilitations on a Property.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

  • Construction Activities means the disturbance of soils associated with clearing, grading, excavation activities or other construction-related activities.

  • Construction activity means any clearing, grading or excavation associated with large construction activity or associated with small construction activity.

  • Construction Drawings means those drawings containing the technical details associated with the design, construction and installation of the Infrastructure;

  • Costs of the Project means Recipient’s actual costs (including any financing costs properly allocable to the Project) that are (a) reasonable, necessary and directly related to the Project, (b) permitted by generally accepted accounting principles to be Costs of the Project, and (c) are eligible or permitted uses of the Financing Proceeds under applicable state or federal statute and rule.

  • Construction Works means all works and things necessary to complete the Project in accordance with this Agreement;

  • Construction Lender means a person who makes a construction loan.

  • 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.

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Project Funds means all moneys disbursed to the Recipient by the State Water Board for eligible Project Costs pursuant to this Agreement.

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.