Construction Loan Facility definition

Construction Loan Facility means the construction loan facility up to the principal amount as specified in the Facility Letter to be made available to the Borrower in accordance with the terms and conditions set out in the Facility Letter and this Agreement.

Construction Loan Facility means the construction loan facility established pursuant to Article II.

Construction Loan Facility has the meaning given in Section 2.1(a)(i) of the Financing Agreement.

Examples of Construction Loan Facility in a sentence

• PROVIDED ALWAYS that if any partial prepayment of the Land Loan Facility and/or the Construction Loan Facility is made by the Borrower within the period of ( ) months from the date of first disbursement of the Land Loan Facility or any part thereof, the Borrower shall pay to the Lender a prepayment fee calculated at the rate of per cent ( %) of the prepaid amount or at such other rate as may be fixed by the Lender from time to time.

• Interest is paid at a rate per annum equal to the adjusted Eurodollar rate in effect and the applicable margin of 3.25%.On December 23, 2011, the Construction Loan Facility was converted to a $16,000,000 Term Loan.

• The Borrower hereby assigns and pledges the proceeds of the Construction Loan Facility and the Project Deposit to the Administrative Agent for such purposes.

• All powers of attorney and other authorizations granted to the Lenders, the Administrative Agent and any Persons designated by the Administrative Agent or any Lender pursuant to any provisions of this Agreement or any of the other Loan Documents shall be deemed coupled with an interest and shall be irrevocable so long as any of the Obligations remain unpaid or unsatisfied or the Construction Loan Facility has not been terminated.

• In the event the Land Loan Facility and/or the Construction Loan Facility or any part thereof is/are cancelled or not utilised by the Mortgagor or the Borrower after acceptance of the Facility Letter, the Mortgagor and/or the Borrower shall pay a cancellation fee of one per cent (1%) of the total original Land and Construction Loans amount and any other costs and charges incurred by the Lender on behalf of the Mortgagor and/or the Borrower.

More Definitions of Construction Loan Facility

Construction Loan Facility has the meaning given to such term in the definition of Facilities.

Construction Loan Facility means the $70,000,000 revolving credit facility for warehouse, construction and permanent loans for multi-family projects which have received or are encumbered by low housing tax credits, as evidenced by that certain Credit Agreement dated as of December 4, 2001, as same has been amended pursuant to amendments dated November 4, 2002, and November 4, 2003, and as same may be further amended, restated, supplemented or restructured from time to time, and arranged and provided by Bank of America, N.A., as administrative agent, Fleet National Bank, as co-agent, and the other lenders named therein.

Construction Loan Facility means that portion of the Line of Credit to be advanced to Borrower solely for vertical construction of Homes in Approved Subdivisions. The Construction Loan Facility will be financed under the Line of Credit in the maximum unpaid principal amount outstanding at any one time of $22,000,000.00, subject to the Caps and the Advance Rates as set forth in Section 3.3 (as the same may be reduced as set forth in Sections 3.4.1 and 3.4.2).

Construction Loan Facility means all those construction loans and other financing loans which will have been or shall be taken out by each of the Development Companies during the Construction Period in order to financing the Construction Works, and which are or shall be specified in the Project Liability Schedule at the Closing (Schedule 1.1(ddd));

Construction Loan Facility has the meaning assigned to such term in Section 2.01(a).

Construction Loan Facility means any construction loan facility extended by the Lenders to a New Hospital Joint Venture designated by the Company pursuant to Article II.

Construction Loan Facility means all those construction loans and other financing loans which have been and/or which shall be taken out by the Development Companies in order to finance the Construction Works in terms of § 3.5 below, and which are or shall be specified in the Project Liabilities Schedule at the Closing (Schedule 1.1(iiiii));