Construction Funds definition

Construction Funds. The Net Proceeds available for restoration or repair work pursuant to Article 14 of this Lease.

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Construction Funds. The Net Proceeds and such additional funds as may be deposited with Lessor by Lessee pursuant to Section 14.6 for restoration or repair work pursuant to this Lease.

Construction Funds shall have the meaning assigned to that term in Section 11.01(b).

Examples of Construction Funds in a sentence

• Provided Lessee is not in default hereunder, any excess Construction Funds shall be paid to Lessee upon completion of the restoration or repair.

• The scope of the monitoring by the Construction Monitor shall include review of progress of work, review of contracts and substantive budget reviews, review of Construction Contract Change Orders, status of approvals and permits, certain matters specified in Section 8.1 hereof, all other matters required of the Construction Monitor under the Construction Funds Trust Agreement, and all matters required of the “independent engineer” under the Act.

• The Parties agree that the Trust created hereby and this Agreement, together with any subsequent amendments or modifications thereto, is the Construction Funds Trust and the Construction Funds Trust Agreement, respectively, referred to in the Development Agreement.

• Any excess Construction Funds shall be paid to Lessee upon completion of the restoration or repair.

• Notwithstanding anything to the contrary this Agreement, including in this Section 3.2(h), but subject to StadCo’s obligation to comply with Section 8.1 hereof, the Construction Monitor shall not be required to deliver any reporting, information or certificates to the Authority hereunder or under the Construction Funds Trust Agreement, unless delivery thereof to the FinanceCo Agent is required to be made pursuant to the terms of the FinanceCo Credit Facility.

More Definitions of Construction Funds

Construction Funds means proceeds from the sale of debt obligations restricted by law or pursuant to the proceedings for the issuance of such debt obligations to use for permanent improvements as defined in division (E) of section 5705.01 of the Revised Code, including acquisition, construction, or extension of public utilities, and moneys from any other sources restricted to such purpose.

Construction Funds. The Net Proceeds and such additional funds as may be deposited with Lessor by Lessee pursuant to Section 14.6 for restoration or repair work pursuant to this Lease. Contamination: The presence, Release or threatened Release of any Hazardous Substance at the Leased Properties in violation of any Environmental Law, or in a quantity that would give rise to any affirmative Clean-Up obligations under an Environmental Law, including, but not limited to, the existence of any injury or potential injury to public health, safety, natural resources or the environment associated therewith, or any other environmental condition at, in, about, under or migrating from or to the Leased Properties. Control (and its corollaries “Controlled by” and “under common Control with”): Possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, through the ownership of voting securities, partnership interests or other equity interests. CPI: The United States Department of Labor, Bureau of Labor Statistics Revised Consumer Price Index for All Urban Consumers (1982-84=100), U.S. City Average, All Items, or, if that index is not available at the time in question, the index designated by such Department as the successor to such index, and if there is no index so designated, an index for an area in the United States that most closely corresponds to the entire United States, published by such Department, or if none, by any other instrumentality of the United States.

Construction Funds means, collectively, the Award and any Deficiency Deposit which may be required to be deposited with Agent as a result of the insufficiency of the Award to pay the cost of Restoration, and the term "Restoration" shall mean the restoring, repairing, replacing or rebuilding of the Premises or any part thereof subsequent to a taking by condemnation or eminent domain of all or any part of the Premises, such Restoration to be completed free of liens (other than the liens held by Agent), in compliance with all applicable law and otherwise in accordance with the provisions of the related Lease and this Agreement). Any Construction Funds resulting from the receipt of any Award shall be held and disbursed by Agent in the manner provided in subparagraph B above with respect to Net Proceeds and shall constitute additional security for the Obligations under the Credit Facility. The balance of any Award remaining after the completion of Restoration in accordance with this paragraph shall be applied to Obligations under the Credit Facility, unless a partial condemnation materially impairs the operations or financial performance of the Property, in which case the Award shall be equitably apportioned as provided in Section 15.5 of the related Lease, and Landlord's share thereof shall be applied to Obligations under the Credit Facility.

Construction Funds means the sum of (i) the amount deposited in the Construction Escrow Account on the Closing Date and (ii) the amount by which the Loan Amount shall exceed the Initial Advance.

Construction Funds means proceeds from the sale of debt obligations restricted by law or pursuant to the proceedings for the issuance of such debt obligations to use for permanent improvements as defined in division (E) of section 5705.01 of the

Construction Funds means the funds deposited with Escrow Agent pursuant to Section 3 of this Agreement, together with any interest and other income thereon.

Construction Funds mean the sum of (i) the undisbursed Loan principal, and (ii) the collected balance of funds on deposit in a related Controlled Funds Account.