Construction Loan Commitment definition

Construction Loan Commitment means, at any time with respect to each Lender, such Lender’s Proportionate Share of the Total Construction Loan Commitment at such time.

Construction Loan Commitment shall have the meaning specified in Section 2.

Construction Loan Commitment means, with respect to each Construction/Term Lender, such Lender's Tranche A Construction Loan Commitment and/or Tranche B Construction Loan Commitment, as applicable.

Examples of Construction Loan Commitment in a sentence

• The Company shall have duly issued, executed and delivered, upon written request, to (i) each Construction Loan Lender, a Construction Loan Note, dated the Closing Date, with appropriate insertions and in a principal amount equal to such Lender's Construction Loan Commitment and (ii) each Revolving Credit Lender, a Revolving Credit Note, dated the Closing Date, with appropriate insertions and in a principal amount equal to such Lender's Revolving Credit Commitment.

• The undersigned reserve(s) the right to prepay at anytime, all or any part of the principal amount of the Note without payment of penalties or premiums other than those imposed by the Mortgage of even date or any Construction Loan Agreement, Agreement for Development, or Construction Loan Commitment associated with this Note.

• Under this agreement, the Builder must submit to the DRC a Construction Deposit and one of the following: Cash Deposit, Irrevocable Letter of Credit, or Construction Loan Commitment.

• The Construction Loan Commitment Fee is based on 0.75% of the construction loan amount as indicated in TD Bank’s LOI.

• Notwithstanding anything to the contrary set forth in the prior sentence, for the avoidance of doubt, each Lender’s remaining Construction Loan Commitment hereunder for all Projects shall be reduced to zero on the last Business Day of the Construction Loan Availability Period for the last Project.

More Definitions of Construction Loan Commitment

Construction Loan Commitment means, with respect to each Lender, the commitment of such Lender to make Construction Loans, as set forth opposite the name of such Lender in Schedule 2.01, as the same may be reduced in accordance with Section 2.07 (

Construction Loan Commitment means, with respect to each Lender, the commitment of such Lender to make Construction Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender's Construction Loans hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.06 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender's Construction Loan Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Construction Loan Commitment, as applicable. The initial aggregate amount of the Lenders' Construction Loan Commitments is $95,000,000.

Construction Loan Commitment means, with respect to each Term Lender, the commitment, if any, of such Term Lender to make Construction Loans hereunder as set forth on Appendix A-1 or in the Assignment and Acceptance pursuant to which such Term Lender assumed its Construction Loan Commitment, as applicable, as the same may be reduced from time to time in accordance with the terms hereof. The aggregate amount of the Construction Loan Commitments as of the Closing Date is $700,000,000.

Construction Loan Commitment means, as to any Construction Loan Lender, the obligation of such Lender to make Construction Loans to the Company in an aggregate amount not to exceed, at any one time outstanding, the amount set forth opposite such Construction Loan Lender's name on SCHEDULE 1.1(II) under the heading "Construction Loan Commitment" or, in the case of any Construction Loan Lender that is an assignee, the amount of the assigning Construction Loan Lender's Construction Loan Commitment assigned to such assignee pursuant to Section 10.4, in each case as such amount may be adjusted or reduced from time to time as provided herein.

Construction Loan Commitment means the commitment of each Construction Lender to make the Construction Loans set forth in Section 2.1(a) of the Loan Agreement.

Construction Loan Commitment means a financing commitment, term sheet or similar agreement by the Construction Lender that has been executed and delivered by and between Developer and the Construction Lender that confirms availability (subject to satisfaction of the terms and conditions contained therein) of the Construction Loan to fund the construction of the Project in accordance with the requirements of this Agreement.

Construction Loan Commitment means at any time, for any Bank, the amount set forth opposite such Bank's name on Schedule 1.1(A) under the heading "Construction Loan Commitment," as such amount may be reduced from time to time pursuant to Sections 2.11 and 9.4 or increased pursuant to Section 9.4 in the case of an assignment thereunder of Credit Exposure to such Bank from another Bank.