Construction interest definition

Construction interest means a company whose primary function
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Construction interest means the sum of money to be added to the direct construction cost and reimbursed to the developer for the use of the developer’s monies during the construction term. The interest rate shall be one percent above the Federal Reserve Bank prime loan rate published most recently before the date of the Right of Way Use permit or required utility permit. Interest accrual begins on the date of execution of the permit and will continue throughout the construction term. Construction interest shall be computed utilizing the two- thirds rule; i.e., direct cost of construction x construction interest rate divided by 365 x the construction term expressed in days x 0.67 = construction interest.
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Construction interest means all interest expense of the Borrower and its Subsidiaries for the construction of projects which is capitalized in accordance with GAAP.
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Examples of Construction interest in a sentence

  • The Trustee shall not be responsible for calculating the Construction Interest Rate.

  • Notwithstanding the foregoing, at no time shall the Construction Interest Rate be less than 3.75%.

  • Interest will accrue on the outstanding balance of the Bond at the Construction Interest Rate.


More Definitions of Construction interest

Construction interest means Interest Expense for the construction of projects on Properties, which Interest Expense is capitalized in accordance with GAAP.
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Construction interest means Borrower's interest expense for the construction of projects, which is capitalized in accordance with Generally Accepted Accounting Principles; provided, however, that notwithstanding Generally Accepted Accounting Principles, interest applicable to each building under construction shall be capitalized as to such building only until substantial completion thereof and such building is ready for its intended use and thereafter interest attributable thereto shall be expensed.
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Construction interest means a company whose primary function consists of building freeways, highways or major arterial streets.
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Construction interest means the sum of money to be added to the direct construction
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Construction interest means interest on cost incurred by the Contractor on the Project from the beginning of the Project through the time the Contractor begins to receive progress payments. A bank (or other financing entity) „construction interest‟ certification will be provided as part of the Project‟s „open book pricing‟ summary and recapitulation at the end of the Project.
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Construction interest and "Lease Up Reserve" on the Budget for each Borrower as most recently approved by FINOVA. Total Advances of Loan B1 shall be subject to the further limitation that in no event shall the total fundings made to any individual Borrower in respect of Loan B1 exceed 75.0% of the total acquisition, development and construction costs applicable to the particular Facility to be owned and operated by such Borrower. The Borrowers shall be required to have acquired each of the parcels of Real Property upon which the Facilities are to be constructed by a date not later than December 31, 1998. Each of the Borrowers shall thereafter be permitted to request Advances of the Loan proceeds allocated to such Borrower during a term of up to sixteen (16) months from the date each Borrower acquires the parcel of Real Property upon which its individual Facility is to be constructed. ================================================================================ CONDITIONS PRECEDENT (SECTION 2.1): The obligation of FINOVA to make the initial Advance of any Loan hereunder is subject to the fulfillment, to the satisfaction of FINOVA and its counsel, of each of the following conditions, in addition to the conditions set forth in Section 2.1 above. To the extent individual items relate to the Facilities or the Collateral, such items shall be interpreted to refer solely to the individual Facility to be acquired by an individual Borrower and the other Collateral to be provided by such Borrower, on a Borrower by Borrower basis. Such conditions are designated with an "*":
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Related to Construction interest

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Construction Works means all works and things necessary to complete the Project in accordance with this Agreement;

  • Construction Work means any work in connection with⎯

  • Construction Costs means land costs, all costs paid to construct and complete the Improvements, as specified on Exhibit "B" attached hereto and made a part hereof.

  • Direct Construction Cost means the sum of the amounts that the Construction Manager actually and necessarily incurs for General Conditions Costs, Cost of the Work and Construction Manager’s Contingency during the Construction Phase as allowed by this Agreement. Direct Construction Cost does not include Pre-Construction Phase Fees or Construction Phase Fees.

  • 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.

  • CONSTRUCTION EQUIPMENT means all appliances and equipment of whatsoever nature for the use in or for the execution, completion operation or maintenance of the work unless intended to form part of permanent work.

  • Constructional Plant means all appliances or things whatever nature required in or about the execution, completion or maintenance of the works or temporary works (as hereinafter defined) but does not include materials or other things intended to form or forming part of the permanent work or temporary housing, hutting, office, stores, etc.,

  • construction site means a workplace where construction work is being performed;

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Renovation means altering a facility or one or more facility components in any way, including the stripping or removal of RACM from a facility component. Operations in which load-supporting structural members are wrecked or taken out are demolitions.

  • Construction and demolition debris means and includes:

  • Construction activity means any clearing, grading or excavation associated with large construction activity or associated with small construction activity.