End of Construction Advance Sample Clauses

End of Construction Advance the Advance at the end of construction which is made against Phase III Timeshare Intervals. Environmental Indemnity: a Hazardous Substance Remediation and Indemnification Agreement dated December 13, 2013, executed and delivered by Borrower and Guarantor and containing representations, warranties and covenants regarding the environmental condition of the Timeshare Project and the Collateral, as it may from time to time be amended, supplemented or restated. Event of Default: as defined in Section 7.1 hereof.
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End of Construction Advance. The maximum amount of the End of Construction Advance shall equal 15.52% of the Retail Value of the Encumbered Timeshare Product less the total aggregate Pre-Advances previously made to date. Notwithstanding the foregoing, in no event shall the End of Construction Advance cause 15 the unpaid principal balance of the Loan to exceed the least of (X) the Maximum Loan Amount, (Y) 75% of the appraised value of the Encumbered Timeshare Product as reflected in the appraisals delivered to Lender pursuant to Sections 4.1(j) or 6.1(q) hereof, as applicable, and (Z) 65% of the Inventory Costs of the Encumbered Timeshare Product.
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End of Construction Advance the Advance at the end of construction which is made against the Timeshare Inventory.  Environmental Indemnity: a Hazardous Substance Remediation and Indemnification Agreement dated December 13, 2013, as amended by that certain Amendment No. 1 to Hazardous Substance Remediation and Indemnification Agreement, dated September 28, 2017, executed and delivered by Borrower and Guarantor and containing representations, warranties and covenants regarding the environmental condition of the Timeshare Project and the Collateral, as it may from time to time be amended, supplemented or restated.  Event of Default: as defined in Section 7.1 hereof.  Executive Order: as defined in Section 5.19 hereof.  Existing Indebtedness: collectively, Borrower's existing indebtedness owed to Quorum.  First Amended Prior Loan Agreement: defined in the Background Statements. Foreign Assets Control Regulations: as defined in Section 5.19 hereof. GAAP: generally accepted accounting principles, applied on a consistent basis, as described in Opinions of the Accounting Principles Board of the American Institute of Certified Public Accountants and/or in statements of the Financial Accounting Standards Board which are applicable in the circumstances as of the date in question. 
Sample 1
End of Construction Advance. The maximum amount of the End of Construction Advance shall not be greater than 15.7% of the Retail Value of the total Vacation Points attributable to Units at Long Creek Phases (prior to the commencement of sales), less the total aggregate Advances (whether repaid or still outstanding) made between the Effective Date and the date of such End of Construction Advance. Notwithstanding the foregoing, in no event shall the End of Construction Advance (W) cause the unpaid principal balance of the Loan to exceed the Maximum Loan Amount, (X) cause the aggregate amount 16 6284.98.1115736.11 of all Advances made at any time under the Loan to exceed $25,000,000, (Y) cause the unpaid principal balance of the Loan to exceed 75% of the appraised value of the Encumbered Timeshare Product, as reflected in the appraisals delivered to Lender pursuant to Sections 4.1(j) and 6.1(q) hereof, as applicable, or (Z) cause the unpaid principal balance of the Loan to exceed 58% of the Inventory Costs incurred through the date of the End of Construction Advance.
Sample 1

Related to End of Construction Advance

  • DAF Construction The DAF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Developer and Connecting Transmission Owner agree on another mutually acceptable deadline, the Developer shall deliver to the Connecting Transmission Owner and NYISO “as- built” drawings, information and documents for the DAF, such as: a one-line diagram, a site plan showing the Large Generating Facility and the DAF, plan and elevation drawings showing the layout of the DAF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Developer’s step-up transformers, the facilities connecting the Large Generating Facility to the step-up transformers and the DAF, and the impedances (determined by factory tests) for the associated step-up transformers and the Large Generating Facility. The Developer shall provide to, and coordinate with, Connecting Transmission Owner and NYISO with respect to proposed specifications for the excitation system, automatic voltage regulator, Large Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • Completion of Construction Within 60 days of the completion of construction of the Project, Project Owner shall deliver to DoD copies of the FAA form 7460-2 for each ASN, including the final coordinates for each turbine erected.

  • ICIF Construction The ICIF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Parties agree on another mutually acceptable deadline, Interconnection Customer shall deliver to Transmission Provider and Transmission Owner “as-built” drawings, information and documents for the ICIF, such as: a one-line diagram, a site plan showing the Generating Facility and the ICIF, plan and elevation drawings showing the layout of the ICIF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Interconnection Customer’s step-up transformers, the facilities connecting the Generating Facility to the step-up transformers and the ICIF, and the impedances (determined by factory tests) for the associated step-up transformers and the Generating Facility. Interconnection Customer shall provide Transmission Provider and Transmission Owner with Interconnection Customer’s specifications for the excitation system, automatic voltage regulator, Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • Commencement of Construction Construction of the Project will start within thirty (30) days after notification to the Developer by the Owner, or as soon thereafter as weather and ground conditions permit.

  • Manner of Construction Landlord may impose, as a condition of its consent to any and all Alterations or repairs of the Premises or about the Premises, such requirements as Landlord in its reasonable discretion may deem desirable, including, but not limited to, the requirement that upon Landlord’s request, Tenant shall, at Tenant’s expense, remove such Alterations upon the expiration or any early termination of the Lease Term (upon Tenant’s request, Landlord shall specify, at the time of its consent, which Alteration, if any, must be removed upon expiration or early termination of the Lease Term), and/or the requirement that Tenant utilize for such purposes only contractors, materials, mechanics and materialmen approved by Landlord. Tenant shall construct such Alterations and perform such repairs in conformance with any and all applicable rules and regulations of any federal, state, county or municipal code or ordinance and pursuant to a valid building permit, issued by the City of Irvine in conformance with Landlord’s construction rules and regulations. All work with respect to any Alterations must be done in a good and workmanlike manner and diligently prosecuted to completion to the end that the Premises shall at all times be a complete unit except during the period of work. In performing the work of any such Alterations, Tenant shall have the work performed in such manner as not to obstruct access to the Building or the common areas by any other tenant of the Building, and as not to obstruct the business of Landlord or other tenants in the Building, or interfere with the labor force working in the Building. If Tenant makes any Alterations, Tenant agrees to carry “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction of such Alterations, and such other insurance as Landlord may require, it being understood and agreed that all of such Alterations shall be insured by Tenant pursuant to Article 10 of this Lease immediately upon completion thereof. In addition, Landlord may, in its discretion, require Tenant to obtain a lien and completion bond or some alternate form of security satisfactory to Landlord in an amount sufficient to ensure the lien-free completion of such Alterations and naming Landlord as a co-obligee. Upon completion of any Alterations, Tenant shall (i) cause a timely Notice of Completion to be recorded in the office of the Recorder of Irvine County in accordance with the terms of Section 3093 of the Civil Code of the State of California or any successor statute, (ii) deliver to Landlord a reproducible copy of the “as built” drawings of the Alterations, and (iii) deliver to Landlord evidence of payment, contractors’ affidavits and full and final waivers of all liens for labor, services or materials.

  • No Construction Loans No Mortgage Loan was made in connection with (i) the construction or rehabilitation of a Mortgage Property or (ii) facilitating the trade-in or exchange of a Mortgaged Property other than a construction-to-permanent loan which has converted to a permanent Mortgage Loan;

  • Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the internal laws of the State of New York.

  • Pre-Construction Phase Employer’s Liability, Workers’ Compensation, Comprehensive General Liability and Comprehensive Automobile Liability in the amounts as set forth in the UGSC.

  • During Construction Upon request of the Owner the Contractor shall submit written proposals for unit prices to be applied in the event Change Order Work is authorized by the Owner to be performed under Case (b).

  • Commencement and Completion of Construction Subject to Unavoidable Delays, Developer shall cause construction of the Minimum Improvements to be undertaken and completed: (i) by no later than June 1, 2020; or (ii) by such other date as the parties shall mutually agree upon in writing. Time lost as a result of Unavoidable Delays shall be added to extend this date by a number of days equal to the number of days lost as a result of Unavoidable Delays. All work with respect to the Minimum Improvements shall be in conformity with the Construction Plans approved by the building official or any amendments thereto as may be approved by the building official. Developer agrees that it shall permit designated representatives of the City, upon reasonable notice (which does not have to be written), to enter upon the Development Property during the construction of the Minimum Improvements to inspect such construction and the progress thereof.

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