Construction Loan Period definition

Construction Loan Period means the period beginning on the Effective Date and ending on , which may be extended for two, three-month periods by written request and Xxxxxx’s approval as long as the Loan is in good standing.
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Construction Loan Period means the period commencing as of the date of this Agreement and ending on the initial Expiration Date, which for purposes of clarification excludes the Mini Perm Loan Period and Mini Perm Loan Extension Period, if applicable.
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Construction Loan Period means the period commencing from the date of this Note until , 20 , which period shall include three months for cost certification. [based on the construction contract schedule plus 3 months]
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Examples of Construction Loan Period in a sentence

  • Construction Loan interest will accrue on amounts disbursed hereunder during the Construction Loan Period at the rate of zero percent (0.00%) per annum.

  • If Borrower has not satisfied the above conditions precedent to the Permanent Loan conversion within ten (10) days after the end of the Construction Loan Period (or such longer period as Lender may specify in written notice to Borrower), Lender may, in its sole discretion, (a) require payment in full of the entire outstanding balance on thirty (30) days prior written notice, or (b) grant Borrower additional time to satisfy all conditions precedent, on such terms and conditions as Lender may require.

  • Subject to Section 2 below and the provisions of this Note requiring earlier payment, the Construction Loan will be due and payable in full on the last day of the Construction Loan Period.

  • Upon expiration of the Construction Loan Period, the Construction Loan will, subject to satisfaction of the conditions precedent set forth in Section 4.1, be converted to a permanent loan.

  • The term of the Permanent Loan (the "Permanent Loan Period") will commence on the first day after expiration of the Construction Loan Period and will terminate on the Maturity Date, at which time all principal and accrued interest will be due and payable in full.

  • A change order that materially affects the Project is a change order (i) over $5,000.00, (ii) or $25,000.00 in aggregate costs that impact the quality or the nature of the Project over the entire Construction Loan Period, or (iii) that extends the schedule of the Project.

  • In its sole discretion, Lender may (but is not obligated to) make further disbursements after expiration of the Construction Loan Period (for example, to pay construction liens or otherwise for the protection of its collateral for the Loan), and all such disbursements will be deemed advances and added to the balance of the Loan.

  • During the Construction Loan Period, no interest will accrue on the Loan other than on amounts past due.

  • Lender will have no further obligation to advance any funds to Borrower after expiration of the Construction Loan Period, whether or not the Project has been completed.

  • Upon written request by Borrower and with the prior written consent of Lender, the Construction Loan Period may be extended for two, three-month periods upon written request.


More Definitions of Construction Loan Period

Construction Loan Period means the period from the date of this Note to, but not including the Conversion Date, during which the Bank is advancing sums to Borrower pursuant to the Loan Agreement.
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Construction Loan Period. The period commencing on the date of this agreement and ending on the earlier of (i) December 31, 1999, or (ii) the date on which a permanent Certificate of Occupancy is issued for the Improvements.
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Construction Loan Period means sixteen (16) months after the Closing (or, at Borrower’s written election, may mature earlier if the Conversion Conditions have been achieved).
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Construction Loan Period. The term of the Loan commencing on the date hereof and ending on the Conversion Date.
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Construction Loan Period means that period of time commencing on the date of the Mortgage Loan Notes and ending on the earlier of completion of construction or one (I) year from the date of the Mortgage Loan Notes, during which the Administrative Agent and the Lenders may advance funds to the Mortgage Loan Borrower pursuant to this Agreement (including the Construction Loan Addendum) and the other Credit Documents.
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Related to Construction Loan Period

  • 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 Period means with respect to any LIBOR Rate Loan, the period commencing on such LIBOR Rate Loan’s Funding Date, the date of the Conversion of any Base Rate Loan into such LIBOR Rate Loan or the date of the Continuation of such LIBOR Rate Loan for a new Loan Period and ending one week or one, two, three or six months thereafter as selected by the Borrower pursuant to Section 2.2(a); provided, however, that:

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

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

  • 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.

  • Equipment Advance is defined in Section 2.1.1.

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

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

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Drawdown Period means, in relation to an Advance, the period commencing on the date of this Agreement and ending on the relevant Termination Date or the period ending on such earlier date (if any) on which (a) the aggregate amount of all Advances is equal to the Commitment or (b) the Commitment is reduced to zero pursuant to clauses 4.3, 10.2 or 12 or (c) Delivery of the Ship relevant to such Advance occurs;

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Project Preparation Advance is modified to read “Preparation Advance” and its definition is modified to read as follows:

  • Draw Period is the period of time from the Effective Date through the earlier to occur of (a) March 31, 2012 or (b) an Event of Default.”

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

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

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

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • First draw sample means a one−liter sample of tap water that has been standing in plumbing pipes at least 6 hours and is collected without flushing the tap.

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • 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.

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

  • 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.