Common use of Total Construction Loan Commitment Clause in Contracts

Total Construction Loan Commitment. Subject to Section 2.3.5(a), the aggregate principal amount of all Construction Loans outstanding at any time shall not exceed the then current Committed Construction Loan Dollar Amount or, if the then current Committed Construction Loan Dollar Amount is (1) reduced by Borrower pursuant to Section 2.3.6(a), (2) automatically reduced pursuant to Section 2.3.6(b) or (3) automatically increased pursuant to the proviso to Section 2.3.6(b)(ii), such adjusted Committed Construction Loan Dollar Amount (such then current Committed Construction Loan Dollar Amount, as so adjusted from time to time, the "Total Construction Loan Commitment"). The amount of each Bank's and each Lender Group's Construction Loan Commitment is set forth in Exhibit I hereto (which Exhibit shall be automatically amended without further action (x) upon the assignment of any Bank's or any Lender Group's Construction Loan Commitment in accordance with the terms hereof to give effect to any such assignment, (y) upon the addition of a Bank or Lender Group hereunder pursuant to a Joinder Agreement entered into in accordance with Section 9.17 or (z) upon any adjustment of the Total Construction Loan Commitment in accordance with this Section 2.3.2 to give effect to any such adjustment). The amount of each Related Bank's Parallel Funding Commitment is set forth in Exhibit I hereto (which Exhibit shall be automatically amended without further action (x) upon the assignment of any Related Bank's Parallel Funding Commitment in accordance with the terms hereof to give effect to any such assignment, (y) upon the addition of a Related Bank hereunder pursuant to a Joinder Agreement entered into in accordance with Section 9.17 or (z) upon any adjustment of the Construction Loan Commitment of such Related Bank's Lender Group in accordance with this Section 2.3.2 to give effect to any such adjustment. Notwithstanding anything to the contrary contained in this Agreement or any other Credit Document, the aggregate principal amount of all Construction Loans outstanding shall not exceed $1,052,142,375 at any time prior to the date on which the fourth Project becomes an Approved Project hereunder (other than in connection with a substitution of a Substitute Project for an Approved Project in accordance with Section 3.11).

Total Construction Loan Commitment. Subject to Section 2.3.5(a), the aggregate principal amount of all Tranche A Construction Loans outstanding at any time shall not exceed the then current Committed Tranche A Construction Loan Dollar Amount or, if the then current Committed Tranche A Construction Loan Dollar Amount amount is (1) reduced by Borrower pursuant to Section 2.3.6(a), ) or (2) automatically reduced pursuant to Section 2.3.6(b) or (3) automatically increased pursuant to the proviso to Section 2.3.6(b)(ii), such adjusted Committed Tranche A Construction Loan Dollar Amount (such then current Committed Tranche A Construction Loan Dollar Amount, as so adjusted from time to time, the "Total Construction Loan Commitment"). The amount of each Bank's and each Lender Group's Construction Loan Commitment is set forth in Exhibit I hereto (which Exhibit shall be automatically amended without further action (x) upon the assignment of any Bank's or any and each Lender Group's Construction Loan Commitment in accordance with the terms hereof to give effect to any such assignment, (y) upon the addition of a Tranche A Bank or Tranche A Lender Group hereunder pursuant to a Joinder Agreement entered into in accordance with Section 9.17 or (z) upon any adjustment of the Total Construction Loan Commitment in accordance with this Section 2.3.2 to give effect to any such adjustment). The amount of each Related Bank's Parallel Funding Commitment is set forth in Exhibit I hereto (which Exhibit shall be automatically amended without further action (x) upon the assignment of any Related Bank's Parallel Funding Commitment in accordance with the terms hereof to give effect to any such assignment, (y) upon the addition of a Related Bank hereunder pursuant to a Joinder Agreement entered into in accordance with Section 9.17 or (z) upon any adjustment of the Construction Loan Commitment of such Related Bank's Tranche A Lender Group in accordance with this Section 2.3.2 to give effect to any such adjustment. Notwithstanding anything to the contrary contained in this Agreement or any other Credit Document, the aggregate principal amount of all Construction Loans outstanding shall not exceed $1,052,142,375 at any time prior to the date on which the fourth Project becomes an Approved Project hereunder (other than in connection with a substitution of a Substitute Project for an Approved Project in accordance with Section 3.11).