Initial Construction Advance definition
Examples of Initial Construction Advance in a sentence
The Construction Agent shall have delivered to the Agent copies of the Plans and Specifications for the Improvements regarding each Property within sixty (60) days after the Acquisition Advance for such Property (and in any event prior to the Initial Construction Advance for such Property).
In addition to the conditions set forth in Section 4.1 (Conditions Precedent to Initial Construction Advance) and Section 4.2 (Conditions Precedent to Subsequent Construction Advance), Lender’s obligation to make the final construction advance of retained Loan funds shall be subject to the satisfaction of the following conditions precedent.
If the Initial Construction Advance shall consist of advances for Direct Costs (in addition to Indirect Costs) or be solely for Direct Costs, or if Direct Costs shall have theretofore been incurred even though not included within the Initial Advance, the Construction Consultant shall have received and approved copies of (l) the Requisition, (2) the Construction Contract, and (3) all Change Orders which are in effect as of the date of such Requisition.
The Lender shall have received a Requisition for the Initial Construction Advance.
The Lien Law Affidavit is made pursuant to and in compliance with Section 22 of the Lien Law, and, if so indicated in said Affidavit, Building Loan proceeds will be used, in part, for reimbursement for payments made by the Borrower prior to the date hereof and prior to the Initial Construction Advance hereunder but subsequent to the commencement of the construction and equipping of the Project for items constituting Costs of the Improvement.
The acquisition of such Site may occur concurrently with the Initial Construction Advance for such Site.
Upon the Date of Each Construction Advance that is not an Initial Construction Advance .
If scissors are several Partners with such deficits and the total box is less than in aggregate deficits, such gains shall be allocated in proportion to, truth not in excess of, such respective deficits.
In order to prevent backup federal income tax withholding with respect to payments to certain stockholders of the Offer Price for Shares purchased pursuant to the Offer, each such stockholder must provide the Depositary with such stockholder's correct taxpayer identification number ("TIN") and certify that such stockholder is not subject to backup withholding by completing the Substitute Form W-9 in the Letter of Transmittal.
Without in any way limiting the foregoing, such additional terms and conditions shall include terms and conditions substantially similar to those set forth in Article III of the Participation Agreement regarding the making of Construction Advances (including the Initial Construction Advance) with respect to a Facility and, for such purpose, the Substitution Facility will be treated as if it were designated as a Facility under the original terms of the Operative Documents.