Construction Line Clause Samples
POPULAR SAMPLE Copied 1 times
Construction Line. The revolving line of credit from the Lender to the Borrower evidenced by the Note, to be advanced, re-advanced and repaid pursuant to this Loan Agreement and secured by the Security Documents to be used for the construction of the Units as more particularly set forth in the recitals to this Loan Agreement.
Construction Line. Remaining assets at the time of liquidation comprising or included with the Construction Line shall be valued at their then market value, and shall be apportioned between the Parties such that thirty percent (30%) of such assets shall be apportioned and distributed to Party A and seventy percent (70%) of such assets shall be apportioned and distributed to Party B.
Construction Line. Cost Loan Borrower
Construction Line. The Construction Line is a revolving line of credit and the principal amount outstanding under such note may increase and decrease from time to time as Borrower draws and repays note funds thereunder but the principal balance of such note outstanding from time to time shall not exceed the original, principal amount of the Construction Line. Provided Borrower is not in Default, outstanding amounts under such note may be repaid or reborrowed from time to time subject to the terms, conditions and limitations set forth in this Agreement, but the principal balance of such note outstanding from time to time shall not exceed the original, principal amount of the Construction Line.
Construction Line. Cost Loan Borrower Per Unit: Land Cost per ▇▇▇▇ ▇ $ 517,444 $ 257,500 $ 259,944 Hard Construction Costs 2 208,500 208,500 0 Soft Costs 2 90,000 90,000 0 Interest Reserve 3 5,000 5,000 3 0 Total $ 820,944 $ 561,000 $ 259,944