Construction Loan Facilities Sample Clauses
The Construction Loan Facilities clause defines the terms under which a lender provides financing specifically for the construction phase of a project. It typically outlines the maximum loan amount, the process for drawing down funds as construction progresses, and the conditions that must be met before each disbursement, such as inspections or certifications. This clause ensures that funds are released in a controlled manner, reducing the lender's risk and ensuring that the borrower uses the loan strictly for construction purposes.
Construction Loan Facilities. PCE undertakes that it shall cause the Development Company to execute full repayment of the Construction Loan Facilities, which shall have been taken out by the Development Company during the Construction Works as contemplated in Section 4.4 below, on or before but in any event by not later than the Delivery Date.
Construction Loan Facilities. 15 3.3 The Lublin Option Agreement.................................... 16 3.4
Construction Loan Facilities. Subject to obtaining the Waivers and Consents of the Financing Banks as specified in Section 11.2(b)(ii) below, and without derogating from PCE's undertakings to effect full repayment of the Construction Loan Facilities by not later than the Delivery Date in terms of Section 3.2(a) above, the Transactions shall not give rise to any breach of any obligation, undertaking or covenant of the Development Companies under the Construction Loan Facilities, nor shall any Event of Default or other adverse event occur under the Construction Loan Facilities as a result thereof;
Construction Loan Facilities. PCE shall procure that each Development Company shall take out construction loan financing in an amount sufficient to enable the execution and completion of the Construction Works. In this regard, it is agreed that:
Construction Loan Facilities