Construction Advance definition

Construction Advance means an advance of funds to pay Property Costs pursuant to Section 5.4 of the Participation Agreement.

Construction Advance means any Advance for Costs of Construction which are properly payable to appropriate Contractors pursuant to the Construction Contracts.

Construction Advance means any Advance for the payment of Project Costs.

Examples of Construction Advance in a sentence

• In the event the Board elects to waive any requirements or conditions contemplated herein with regard to any such Construction Advance, such waiver shall not preclude the Board from thereafter requiring full and complete performance of all terms, conditions and requirements with regard to any subsequent Advance.

• It is expressly agreed that the Board’s obligation to make any Construction Advance shall be subject to satisfaction of the following conditions, unless waived by the Board at its sole discretion.

• The Company’s Construction Advance Policy 3 shall apply to determine any advance contribution by the customer, using an estimate of revenues to be derived from this second feeder rate.

• In no event shall the cumulative fundings made by Triumph (including the Initial Funding, the reimbursement of the Grantee’s Construction Advance Amount, and all Subsequent Fundings) exceed the $15,378,683 maximum amount of the Grant.

• After the Initial Funding, Grantee shall pay from its own funds the Grantee’s Construction Advance Amount before Triumph shall make any further fundings under the Grant.

More Definitions of Construction Advance

Construction Advance means an advance of the Committed Amount to pay costs of the Project pursuant to Section 4.1 (a) or to reimburse the Borrower pursuant to Section 4.1 (c) for costs of a Project not yet completed.

Construction Advance means an advance of funds by any of the Lessor Parties to pay, or to reimburse the Lessee, the Construction Agent or a designee or designees of either for, Property Costs pursuant to Section 5.4 of the Participation Agreement.

Construction Advance and "Construction Advances" shall have the meanings provided therefor in Section 1.01(d) hereof.

Construction Advance means an Advance all or a portion of which is or will be used to construct improvements on Real Property or otherwise used in the development of Real Property.

Construction Advance means an Advance made against a Construction/Perm Mortgage Loan.

Construction Advance means each Advance made by the Lessor and the Agent to the Construction Agent for the purpose of paying Property Improvement Costs with respect to City Center V.

Construction Advance means an advance on the Declining Revolving Credit Loan used to pay for Improvements pursuant to the applicable terms of this Agreement. "Construction Inspector" means a Person appointed or designated by the Lender from time to time to inspect the progress of the construction of the Improvements and the conformity of the construction of the Improvements with the Budget and the Construction Schedule, and to perform such other acts and duties for such purposes or other reasonable purposes as the Lender may from time to time deem appropriate or as may be required by the terms of this Agreement. "Construction Inspector Report" means a written report from the Construction Inspector due to the Lender. “Construction Period” means the period from July ___, 2015 to the Completion Date during which time the Improvements will be constructed and Construction Advances will be available to Borrower. "Construction Schedule" means the schedule for commencement and completion of the construction of the Improvements attached to this Agreement as Schedule 2.02(ii)(2) approved by the Lender as the same may be revised from time to time with the written approval of the Lender. “Contractor” means each Person who has provided labor and/or materials to the construction of the Improvements, including all Persons who have the right to file any Lien against the Project arising out of the Improvements. “Disbursing Agreement” means the Disbursing Agreement among the Lender, Borrower and the Title Company, as amended, restated, supplemented or otherwise modified from time to time, relating to the disbursement of Construction Advances to the Borrower. "Draw Request" has the meaning given to such term in Section 2.02(ii) of this Agreement. “Fixed Charge Coverage Ratio” means, for any period, the ratio derived when comparing (a) Adjusted EBITDA to (b) Borrower’s scheduled payments on the principal and interest of the Loans due during the applicable reporting period. "Improvements" means the construction and installation of technological and efficiency improvements to the Project. “Loan Conversion” has the meaning given to such term in Section 2.04(b) of this Agreement. "Substantial Completion" means the occurrence of all of the following events with respect to the Improvements: (a) all Improvements are completed other than minor punch list items, are paid for in full free of all mechanic’s, labor, materialmen’s and other similar Lien claims, and the Lender has received a complete and total...