Construction Status Report definition
Examples of Construction Status Report in a sentence
The Department may require electronic submission of the Construction Status Report and/or Unit Status Report.
The Purchaser is ------------------------------------------------ able to bear the economic risk of an investment in the Securities to be acquired by it hereunder and, at the pre-sent time, is able to afford a complete loss of such investment.
In accordance with Sections 10.402(h) and 10.607(f) of the Uniform Multifamily Rules, within ten (10) days after the last day of each quarter in each fiscal year of Development Owner, or as requested by the Department, a Construction Status Report or Unit Status Report, as applicable.
The Administrative Agent and the Independent Engineer shall be entitled to reasonably verify and, if necessary, reasonably correct and add to such Construction Status Report in a manner reasonably acceptable to Administrative Agent and the Independent Engineer.
If, at any time, a Presold becomes a Spec and, at the time of the delivery of the next Construction Status Report and Collateral Base Certificate, there are more than six (6) Model Homes and Specs combined in such Project (including the Presold(s) that became Spec(s)), Borrower shall determine which Specs or Model Homes to exclude from the Collateral Base and Borrower shall pay to Agent the amount of the Total Draws with respect to such Residential Unit(s).
The Collateral Base shall be determined each month based upon the current Construction Status Report.
Development Owner shall deliver to the Department: A Construction Status Report or Unit Status Report, as applicable, within ten (10) days after the last day of each quarter in each fiscal year, or as requested by the Department, as applicable, in accordance with 10 TAC §10.402(h) and 10 TAC §10.607(f).
Project Construction Status Report - The GEC shall develop and maintain a living project status report which addresses high-level progress, updates, and action and risk items for each project let or under construction through construction completion.
The Collateral Base applicable to the reporting month shall not be revised until receipt by Agent of the next monthly Construction Status Report and inspections of the Residential Units.
Upon approval of such Construction Status Report, an amount equal to the amount of the Project Costs required to be paid under the Material Project Documents to achieve Final Completion, as calculated by the Borrower and confirmed by the Independent Engineer, shall be deposited into the Construction Completion Subaccount on the Term Conversion Date.