Common use of Construction Line Funding Termination Date Clause in Contracts

Construction Line Funding Termination Date. Lender’s obligation to make advances of Construction Line proceeds for any particular Unit shall expire on the Funding Termination Date for those Units for which Lender did not issue its formal Construction Loan commitment prior to the Funding Termination Date. Construction Line advances for each Construction Loan that Lender commits to hereunder shall terminate on the Construction Loan Maturity Date.

Construction Line Funding Termination Date. The Lender’s obligation to make advances of Construction Line proceeds for any particular Unit shall expire on the Funding Termination Date for those Units for which the Lender did not issue its formal Construction Loan commitment prior to the Funding Termination Date. Construction Line advances for each Construction Loan that the Lender commits to hereunder shall terminate on the Construction Loan Maturity Date.

Construction Line Funding Termination Date. Lender’s obligation to make advances of Construction Line proceeds for any particular Unit shall expire on the Funding Termination Date for those Units for which Lender did not issue its formal Construction Loan commitment prior to the Funding Termination Date. Construction Line advances for each Construction Loan that Lender commits to hereunder shall terminate on the Construction Loan Maturity Date. Construction Line Maturity Date – The last Construction Loan Maturity Date. Construction Loan – A non-revolving limited amount that Lender has committed to fund under the Construction Line for a specified Unit.

Construction Line Funding Termination Date. Lender’s obligation to make advances of Construction Line proceeds for any particular Unit shall expire on the Funding Termination Construction Loan Commitment Expiration Date for those Units for which Lender did not issue its formal a Construction Loan commitment Commitment prior to the Funding Termination Construction Loan Commitment Expiration Date. Construction Line advances for each Construction Loan that for which Lender commits to hereunder has issued a Construction Loan Commitment shall terminate on the Construction Loan Maturity DateDate applicable to that Unit.