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.

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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 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

• Each such Note shall be payable to the order of such Lender in a principal amount equal to such Lender’s Construction Loan Commitment, Term Loan Commitment or Working Capital Loan Commitment, as applicable.

• The aggregate principal amount of the Construction Loans made by each Lender shall not exceed the Construction Loan Commitment of such Lender.

• 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.

• Upon any such mandatory prepayment, Administrative Agent shall release from the applicable Cash Secured Advance Account and deliver to the applicable Related Bank the amount then due and payable as a mandatory prepayment of its Cash Secured Advance, but only to the extent that after such release the amount remaining on deposit in such Cash Secured Advance Account is then at least equal to the remaining Available Construction Loan Commitment of the applicable Lender Group.

• A Project's Allocated Portion of the Total Construction Loan Commitment cannot be used for Borrowings of Construction Loans unless and until such Project becomes an Approved Project in accordance with the terms hereof.

More Definitions of Construction Loan Commitment

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

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, 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 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 Section 2.11 and Section 11.4(d) or increased pursuant to Section 11.4(c) in the case of an assignment thereunder of Credit Exposure to such Bank from another Bank.

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, 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; PROVIDED, HOWEVER, no Lender's Construction Loan Commitment as of the Closing Date shall be greater than the amount set forth opposite such Construction Loan Lender's name on SCHEDULE 1.1(ii) under the heading "Net Construction Loan Commitment at the Closing Date After Application of the Pre-sale Proceeds".

Construction Loan Commitment means, as to any Lender, the aggregate of such Lender’s Tranche A Construction Loan Commitment and Tranche B Construction Loan Commitment.