Construction Loan Maturity Date Sample Clauses
The Construction Loan Maturity Date clause defines the specific date by which the borrower must repay the full outstanding balance of a construction loan. This clause typically applies to loans used for financing building projects, and the maturity date is often set to coincide with the anticipated completion of construction or a predetermined period thereafter. By establishing a clear deadline for repayment, this clause provides certainty for both lender and borrower, ensuring that the loan does not remain outstanding indefinitely and facilitating proper planning for project completion and financial obligations.
Construction Loan Maturity Date. The date on the earlier to occur of (i) the date that the Unit is sold, and (ii) the date that is twelve (12) months after the date of the first advance of Construction Line funds for the Unit. Consulting Engineer or Progress Inspector - Such person or firm as Lender may from time to time appoint or designate for purposes related to the inspection of the progress of the construction of the Improvements, conformity of construction with the Plans and Specifications, and for such other purposes as to Lender may from time to time seem appropriate or as may be required by the terms of this Loan Agreement.
Construction Loan Maturity Date. The date on the earlier to occur of (i) the date that the Unit is sold, and (ii) the date that is twelve (12) months after the date of the first advance of Construction Line funds for the Unit. Consulting Engineer or Progress Inspector - Such person or firm as Lender may from time to time appoint or designate for purposes related to the inspection of the progress of the construction of the Improvements, conformity of construction with the Plans and Specifications, and for such other purposes as to Lender may from time to time seem appropriate or as may be required by the terms of this Loan Agreement. Contract - An executed contract of sale for the sale of a Unit, and such Contract complies with all of the following conditions:
Construction Loan Maturity Date. Upon the Construction Loan Maturity Date, not less than one hundred percent (100%) of the Bond shall be redeemed pursuant to the terms of Section [4.01] of the Indenture and all remaining outstanding principal and interest under the Note shall be immediately due and payable to Bondowner Representative; provided, however, that Bondowner Representative shall have the option, at its sole discretion, of extending the date on which the Bonds must be redeemed as required under this Section 3.6 or otherwise waiving such requirement.
Construction Loan Maturity Date. The earlier of (a) August 1, 2016, or (b) any earlier date on which the entire Loan is required to be paid in full, by acceleration or otherwise, under this Agreement or any of the other Loan Documents.