Construction Facility definition

Construction Facility means a facility which the equipment is owned and operated by a company involved in the process of building a permanent structure or roadway in which the equipment and company will be removed from the site upon completion of the building process.

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Construction Facility means the Construction Commitments and the Construction Loans made hereunder.

Construction Facility means any construction facilities (Sw. byggkreditiv) incurred by a Subsidiary to finance the development and construction of any properties owed by such Subsidiary.

Examples of Construction Facility in a sentence

• Upon receipt of any such notice the Construction Facility Administrative Agent shall promptly notify each Construction Facility Lender thereof.

• Effective at such time, the Construction Facility will cease to be a revolving type facility and the Outstanding Principal thereunder will become a non-revolving term loan in an equivalent principal amount.

• Dollars calculated at a rate per annum equal to the Applicable Margin (based on a year of 365 or 366 days, as applicable) on the amount, if any, for each day by which the amount of the Outstanding Principal owing to such Applicable Lender under the applicable Credit Facility, as the case may be, is less than the Total Construction Facility Commitment, Contingent Facility Commitment or Total Working Capital Facility Commitment of such Applicable Lender, as applicable.

• The undrawn portion of the Construction Facility will be automatically cancelled at 5:01 p.m. (Toronto time) on the Term Conversion Date.

• The Construction Facility shall, subject to this Agreement, be available by way of multiple Drawdowns on and after the Closing Date on a revolving basis prior to the Term Conversion Date, and the Principal Borrower may borrow, repay and reborrow Cdn.

More Definitions of Construction Facility

Construction Facility means any construction facility (Sw. byggkreditiv) taken up by a Group Company for the purpose of constructing and developing any property owned by such Group Company.

Construction Facility means a facility account identified in the schedule as a construction facility and to which the construction facility terms in Part 2 apply. credit law means any law relating to the provision of consumer credit which applies to your loan, including the National Consumer Credit Protection Act 2009 (Cth) and any regulations and instruments made under that Act. daily percentage rate for a facility account, means the annual percentage rate for the facility account divided by 365. daily default rate for a facility account, means the default rate for the account divided by 365. date of final advance for a construction facility account, means the first of: • the date on which you notify us that you do not require us to give you any further advances on the facility account; • the date on which you have drawdown the facility amount in full; or • the date that is 12 months from when construction commences.

Construction Facility has the meaning attributed thereto in Section 2.1(a).

Construction Facility means any construction facility incurred by a PropCo to finance the development and construction of any Property owned by such PropCo provided that there shall not be more than one provider of such construction facility in each PropCo.

Construction Facility means any construction facility (Sw. byggkreditiv) incurred by a Subsidiary to finance the development and construction of any properties owned by such Subsidiary, provided that it shall not be more than one provider of such construction facility in each Subsidiary.

Construction Facility means the loan for construction and/or remodeling of building improvements described in Section 2.3, below.

Construction Facility means any construction facility (loans or bonds) incurred by a Subsidiary of the Issuer to finance the development and construction of any property owned or to be acquired by such Subsidiary.