Examples of Permanent Phase in a sentence

From and after the commencement of the Permanent Phase, the Borrower shall furnish the City with quarterly and annual operating statements for the Property sufficient to enable the City to verify the amount of income being generated by the Improvements and the expenses of the operation hereof.
In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
If the Permanent Phase commences as provided in this Article V, there shall be due on the Loan such payments as are set forth in the Note with respect to the Permanent Phase.
The notice shall set forth the desired relevant commencement date of the Permanent Phase determined in accordance with Section 5.3.
Provided all of the requirements and conditions set forth in Section 5.1 have been met and the Borrower has properly exercised the option to convert the Loan to a Permanent Loan in the manner and at a time permitted under Section 5.2, then the Permanent Phase shall commence on the Construction Loan Maturity Date.

More Definitions of Permanent Phase

Permanent Phase has the meaning given to that term in the Construction Phase Financing Agreement.

Permanent Phase means the permanent phase of the Mortgage Loan commencing on the Conversion

Permanent Phase means the permanent phase of the Mortgage Loan commencing on the Conversion Date. “Permitted Encumbrances” means such liens, encumbrances, declarations, reservations, easements, rights-of-

Permanent Phase means with respect to a Project the date on which amortization payments have commenced on the project loan and there shall have occurred (a) Completion of Construction, (b) Stabilization and (c) if required or provided for under the applicable bond documents, a Resizing of the applicable Tax-Exempt Bond.

Permanent Phase provided the requirements of Article V are met, the period of time from the commencement of the Permanent Phase as provided in Section 5.3.

Permanent Phase means the permanent phase of the Project Loans, which time period shall commence on the Conversion Date and remain in effect through the remaining term of the Project Loans.