Construction Loan Amount definition

Construction Loan Amount means the lesser of (i) seventy percent (70%) of total Project Costs approved by the Lender and the Construction Inspector to construct the Improvements; or (ii) seventy percent (70%) of the appraised value of the land on an as-built basis, such sums are not to exceed Twelve Million and 00/100 Dollars ($12,000,000.00).
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Construction Loan Amount. Twelve Million and 00/100 Dollars ($12,000,000.00).
Sample 1
Construction Loan Amount means an amount up to the sum of Thirty-Eight Million and No/100 Dollars ($38,000,000.00), which includes all principal amounts outstanding and all amounts committed but not yet advanced. Notwithstanding anything contained herein to the contrary, the maximum principal amount advanced and/or committed under the Loan, including the Construction Loan Amount, shall never exceed Thirty-Eight Million and No/100 Dollars ($38,000,000.00).
Sample 1

Examples of Construction Loan Amount in a sentence

  • The maximum amount of the estimated Construction Loan Interest allowed in eligible basis is equal to one year of Construction Loan Interest (Construction Loan Amount multiplied by the Construction Loan Interest Rate).Exceptions will be considered for developments that can justify a potentially longer construction period.The applicant must provide a conditional commitment letter at final application detailing the rate and terms of all loans.

  • After terms #3 and #4 have been applied to the outstanding balance of the Construction Financing Loan and within the term limit of this loan (four years), any outstanding City Construction Loan Amount will be converted by CHH to a conventional 30 or 35-year mortgage with the City acting as guarantor for CHH to obtain third party financing.

  • The maximum construction interest allowable in eligible basis shall be calculated as follows: Construction Loan Amount * Annual Interest Rate divided by 12 * number of months of construction divided by 2.

  • When CHH receives payment of $6,733,980 for the remnant Roxborough land it is selling to the developer (upon Project completion), this amount will be paid to the City immediately to reduce the Construction Loan Amount.

  • The making of any such loans, Advances or credits in excess of the Construction Loan Amount on any one occasion shall not obligate the Lender to make any such loans, Advances or credits on any other occasion nor permit such loans, Advances or credits to remain outstanding.

  • The Borrower will pay all Project Costs in excess of the Construction Loan Amount, regardless of the amount, and prior to the same being overdue.

  • In no event shall the Lender be obligated to Advance more than the Construction Loan Amount, or, if less, total Project Costs actually incurred by the Borrower, less, in either case, the Required Equity Funds.

  • The obligation of the Borrower to pay the Construction Loan Amount or, if less, the aggregate unpaid principal amount of all Advances made by the Lender hereunder plus accrued interest thereon, shall be evidenced by the Construction Note, a copy of which is annexed hereto as Exhibit “J”.

  • The maximum construction interest allowable in eligible basis shall becalculated as follows: Construction Loan Amount * Annual Interest Rate divided by 12 * number of months of construction divided by 2.

  • Any mortgage amounts and / or contributions received by CHH from CMHC regarding this Project will be forwarded to the City immediately to reduce the Construction Loan Amount outstanding.


More Definitions of Construction Loan Amount

Construction Loan Amount means, as of any date of determination, an amount equal to the lesser of (i) $600,000,000.00 or (ii) the amount that, when added to the Outstanding Principal Balance as of such date of determination, will cause the Total Cost Ratio to equal 80%, whichever of the foregoing clauses (i) or (ii) is less being the maximum aggregate amount of Construction Loan Advances that could be made hereunder as of such date of determination.
Sample 1
Construction Loan Amount means $620,000,000.00. As of the date hereof, a portion of the Construction Loan Amount in the amount of $492,024,170.00 has been advanced in accordance with the terms hereof and $127,975,830.00 remains to be advanced subject to and in accordance with the terms hereof.
Sample 1
Construction Loan Amount means an amount not to exceed Twenty-Five Million and No/100 Dollars ($25,000,000.00).
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Construction Loan Amount means an amount not in excess of eighty percent (80%) of Total Project Cost.
Sample 1
Construction Loan Amount means (i) with respect to the Melody Loans, an amount up to the sum of Thirty-Eight Million Five Hundred Thousand and No/100 Dollars ($38,500,000.00), which includes all principal amounts outstanding and all amounts committed but not yet advanced, or (ii) with respect to the FDC Loans, an aggregate amount up to Five Hundred Thousand and No/100 Dollars ($500,000.00), which includes all principal amounts outstanding and all amounts committed but not yet advanced. Notwithstanding anything contained herein to the contrary, the maximum principal amount advanced and/or committed under the Loan, including the Construction Loan Amount, shall never exceed Thirty-Eight Million Five Hundred Thousand and No/100 Dollars ($38,500,000.00).
Sample 1
Construction Loan Amount means, as of any date of determination, an amount equal to the lesser of (i) $620,000,000.00 or (ii) the amount that, when added to the sum of (a) $775,000,000.00 plus (b) the aggregate amount of all Construction Loan Advances made prior to such date of determination (other than (A) the Second Anniversary Unfunded Construction Loan Advance, if applicable, (B) any Quarterly Deficiency Advances, if applicable, and/or (C) any subsequent disbursement out of the Construction Loan Reserve Account of the Third Mezzanine Construction Funds previously advanced into the Construction Loan Reserve Account pursuant to Section 3.4.2 of the Third Mezzanine Loan Agreement), will cause the Total Cost Ratio to equal 81%, whichever of the foregoing clauses (i) or (ii) is less being the maximum aggregate amount of Construction Loan Advances that could be made hereunder as of such date of determination.
Sample 1

Related to Construction Loan Amount

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

  • Construction Loan Agreement means the Construction Loan Agreement between Lender and Borrower for construction on the Land.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Total loan amount means the principal of a loan minus those points and fees that are included in the principal amount of the loan. For open-end loans, the total loan amount must be calculated using the total line of credit allowed under the residential mortgage loan at closing. [PL 2011, c. 427, Pt. A, §15 (NEW).]

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

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

  • Credit allowance date means with respect to any qualified equity investment:

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • 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.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Initial Advance means the first Advance made pursuant to Article II.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Equipment Advance is defined in Section 2.1.1.

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • New Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Collateral Principal Amount means on any date of determination (A) the aggregate principal balance of the Portfolio, including the funded and unfunded balance on any Delayed Funding Term Loan or Revolving Loan, as of such date plus (B) the amounts on deposit in the Accounts (including cash and Cash Equivalents) representing Principal Proceeds as of such date minus (C) the aggregate principal balance of all Ineligible Investments as of such date.

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.