Construction Loan definition

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

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Construction Loan means a loan for a maximum of two years for the purpose of construction.

Construction Loan means any Loan made in connection with a Construction Advance.

Examples of Construction Loan in a sentence

• Each Term Loan made by a Lender under this Agreement shall irrevocably reduce such Lender’s Proportionate Share of the Total Term Loan Commitments and any of its Proportionate Share of the Total Term Loan Commitments outstanding, and not borrowed in accordance herewith, as of 11:59 p.m. (New York time), on the first Business Day immediately following the Construction Loan Maturity Date shall expire as of such date.

• The Term Conversion Date has not occurred by the Construction Loan Maturity Date.

• Except as provided in Section 1.3, the Borrower may, from time to time, request a Construction Loan by delivering to the Administrative Agent a written notice in the form of Exhibit D-1, appropriately completed and executed by a Responsible Officer of the Borrower (“Notice of Construction Loan Borrowing”).

• Such Notice of Construction Loan Borrowing and Notice of Tax Equity Bridge Loan Borrowing shall, for purposes of the Financing Documents, be deemed to have been delivered by the Borrower and shall be deemed to be a request for a one (1) month SOFR Loan.

• The Borrower hereby consent to such deemed issuance of one or more Notices of Construction Loan Borrowing and Notices of Tax Equity Bridge Loan Borrowing under this Section 1.3 and agree that the amounts capitalized under this Section 1.3 shall constitute Construction Loans or Tax Equity Bridge Loans, as applicable, under this Agreement.

More Definitions of Construction Loan

Construction Loan means a mortgage loan to construct a 1-to-4 family dwelling, that is approved and closed before completion of the construction of the improvement on the real property.

Construction Loan shall include any deed, deed of trust, note, security agreement, assumption agreement or other instrument executed by, or on behalf of, the Partnership or General Partner in connection with the Construction Loan.

Construction Loan means a Loan, the proceeds of which are intended to be used substantially to finance the construction of improvements on real property.

Construction Loan means the aggregate principal amount for the time being owing and outstanding under the Construction Loan Facility.

Construction Loan shall have the meaning assigned to such term in the Mortgage Loan Agreement.

Construction Loan means a loan of less than three years in term, made for financing the cost of construction of a building or other improvement to real estate, that is secured by the real estate.

Construction Loan means the Loan before Conversion.