Construction Loan Principal Payments Sample Clauses

Construction Loan Principal Payments. Borrowers shall repay to Administrative Agent, for the account of each Lender, in full on the Construction Loan Maturity Date the unpaid principal amount of all Construction Loans made by such Lender which will not be Term-Converted to Term Loans and at such time as provided in Section 2.1.2(a), together with any unpaid interest, fees and costs related thereto. Borrowers may not re-borrow the principal amount of any Construction Loan so repaid.
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Construction Loan Principal Payments. Borrower shall repay to Administrative Agent, for the account of each Bank and each Lender Group, the aggregate unpaid principal amount of all Construction Loans made by each such Bank or each such Lender Group, as the case may be, in installments payable on the Amortization Commencement Date and each Quarterly Date thereafter in accordance with Exhibit H hereto, with any remaining unpaid principal, interest, fees and costs due and payable on the Final Maturity Date. Once repaid, Construction Loans may not be reborrowed; provided that (i) Construction Loans that are repaid pursuant to Section 6.4(a)(iii) may be reborrowed, in accordance with the terms hereof, in connection with a Substitute Project that becomes an Approved Project pursuant to Section 3.11, and (ii) the Construction Loan Commitments may be reutilized as contemplated by Section 9.17 in accordance with the terms hereof.
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Construction Loan Principal Payments. Construction Loans shall automatically convert to Term Loans upon Term Conversion pursuant to Section 2.1.2(b). Co-Borrowers shall repay to Administrative Agent, for the account of each Lender, in full on the Construction Maturity Date the outstanding principal amount of any Construction Loan made by such Lender which have not been converted to Term Loans pursuant to Section 2.1.2(b).
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Construction Loan Principal Payments. Borrower shall repay to Administrative Agent, for the account of each Bank and each Lender Group, the aggregate unpaid principal amount of all Construction Loans made by each such Bank or each such Lender Group, as the case may be, on the Final Maturity Date. Once repaid, Construction Loans may not be reborrowed."
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Construction Loan Principal Payments. Borrower shall repay to Administrative Agent, for the account of each Bank, in full on the Loan Maturity Date the unpaid principal amount of all Construction Loans made by such Bank.
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Construction Loan Principal Payments. (i) To the extent not previously paid or converted to Term Loans as provided in Section 2.2(a), Borrower shall repay to Administrative Agent, for the account of the Tranche A Lenders, in full on the Tranche A Construction Loan Maturity Date, the unpaid principal amount of the Tranche A Construction Loans, together with all accrued and unpaid interest thereon and fees and costs and other amounts due and payable under the Credit Documents with respect to the Tranche A Construction Loans. (ii) To the extent not previously paid, Borrower shall repay to Administrative Agent, for the account of the Tranche B Lenders, in full on the Tranche B Construction Loan Maturity Date, the unpaid principal amount of all Tranche B Construction Loans made by the Tranche B Lenders, together with all accrued and unpaid interest thereon and fees and costs and other amounts due and payable under the Credit Documents with respect to such Tranche B Construction Loans.
Sample 1
Construction Loan Principal Payments. Borrower shall repay to Agent, for the account of each Bank, in full on the Construction Loan Maturity Date the unpaid principal amount of all Construction Loans made by such Bank which will not be Term-Converted to Term Loans as provided in Section 2.1.2(a). Upon payment or Term-Conversion, in full, of the aggregate principal amount of the Construction Loans and all accrued and unpaid interest thereon, the Banks shall promptly mark xxx Construction Notes cancelled and return such cancelled Construction Notes to Borrower.
Sample 1

Related to Construction Loan Principal Payments

  • Optional Principal Payments 8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Payment of Principal, Premium and Interest The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Loan Proceeds Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders of each series a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold such Certificate Account in trust for the benefit of the Certificateholders of such series, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee (under an Intercreditor Agreement, if applicable) with respect to the Certificates of such series, the Trustee, upon receipt thereof, shall immediately deposit the aggregate amount of such Scheduled Payment in such Certificate Account. (b) The Trustee shall establish and maintain on behalf of the Certificateholders of each series a Special Payments Account as one or more accounts, which shall be non-interest bearing except as provided in Section 4.04. The Trustee shall hold the Special Payments Account in trust for the benefit of the Certificateholders of such series and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when one or more Special Payments are made to the Trustee (under an Intercreditor Agreement, if applicable) with respect to the Certificates of such series, the Trustee, upon receipt thereof, shall immediately deposit the aggregate amount of such Special Payments in such Special Payments Account. (c) The Trustee shall present (or, if applicable, cause the Subordination Agent to present) to the related Loan Trustee of each Equipment Note such Equipment Note on the date of its stated final maturity or, in the case of any Equipment Note which is to be redeemed in whole pursuant to the related Indenture, on the applicable redemption date under such Indenture.

  • Interest Subsidy and Special Allowance Payments and Rebate Fees The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

  • Disbursement of Loan Proceeds (a) The Trustee, as the agent of the Trust, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the Trust, in a form meeting the requirements of Section 5.02(3) of the Bond Resolution. (b) The Trust and Trustee shall not be required to disburse any Loan proceeds to the Borrower under this Loan Agreement, unless: (i) the proceeds of the Trust Bonds shall be available for disbursement, as determined solely by the Trust; (ii) in accordance with the Bond Act, and the Regulations, the Borrower shall have timely applied for, shall have been awarded and, prior to or simultaneously with the Loan Closing, shall have closed a Fund Loan for a portion of the Allowable Costs (as defined in such Regulations) of the Project in an amount not in excess of the amount of Allowable Costs of the Project financed by the Loan from the Trust; (iii) the Borrower shall have on hand moneys to pay for the greater of (A) that portion of the total Costs of the Project that is not eligible to be funded from the Fund Loan or the Loan, or (B) that portion of the total Costs of the Project that exceeds the actual amounts of the loan commitments made by the State and the Trust, respectively, for the Fund Loan and the Loan; and (iv) no Event of Default nor any event that, with the passage of time or service of notice or both, would constitute an Event of Default shall have occurred and be continuing hereunder.