Building Loan Note definition

Building Loan Note shall have the meaning set forth in the Building Loan Agreement.

Building Loan Note means that certain Building Loan Promissory Note, dated the date hereof, in the principal amount of up to the Building Loan Amount made by Borrower in favor of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

Building Loan Note. The term “Building Loan Note” as used in this Agreement shall mean a certain note dated as of the date hereof in the principal sum of $11,000,000.00 given by the Borrower to the Lender.

Examples of Building Loan Note in a sentence

• The Building Loan shall be evidenced by the Building Loan Note and secured by the Building Loan Mortgage, the Building Loan Assignment of Leases and the other Building Loan Documents.

• If the Property is sold, through foreclosure or otherwise, prior to the receipt by Lender of the Award, Lender shall have the right, whether or not a deficiency judgment on the Building Loan Note or the Project Loan Note shall have been sought, recovered or denied, to receive the Award, or a portion thereof sufficient to pay the Total Debt.

• Notwithstanding any Condemnation, Borrower shall continue to pay the Total Debt at the time and in the manner provided for its payment in the Building Loan Note and the Project Loan Note and in this Agreement and the Project Loan Agreement.

• The Building Loans made by each Lender shall be evidenced by a Building Loan Note of Borrower, payable to such Lender in a principal amount equal to the amount of its Building Loan Commitment as originally in effect and otherwise duly completed.

• The purchase money, proceeds and avails of any disposition of the Property, and or any part thereof, or any other sums collected by Mortgagee pursuant to the Building Loan Note, this Security Instrument or the other Building Loan Documents, may be applied by Mortgagee to the payment of the Debt in such priority and proportions as Mortgagee in its discretion shall deem proper.

More Definitions of Building Loan Note

Building Loan Note means that certain Building Loan Promissory Note of even date herewith executed and delivered by Borrower to Lender in the original principal amount of up to One Hundred Twenty Eight Million One Hundred Ninety Seven Thousand Eight Hundred Seventy Eight and 00/100 Dollars $(128,197,878.00), as the same may be modified, amended, split, consolidated, replaced, substituted or extended from time to time.

Building Loan Note means that certain Building Loan Promissory Note of even date herewith executed and delivered by Borrower to Lender in the original principal amount of up to $128,197,878.00, as the same may be modified, amended, split, consolidated, replaced, substituted or extended from time to time.

Building Loan Note. Shall have the meaning set forth in the Recitals hereto.

Building Loan Note means “the Building Loan Note and any other evidence of indebtedness secured by this Security Instrument,” the word “Property” shall include any portion of the Property and any interest therein, and the phrases “attorneys’ fees”, “legal fees” and “counsel fees” shall include any and all attorneys’, paralegal and law clerk fees and disbursements, including, but not limited to, fees and disbursements at the pre-trial, trial and appellate levels incurred or paid by Mortgagee in protecting its interest in the Property, the Leases and the Rents and enforcing its rights hereunder.

Building Loan Note shall have the meaning set forth in the Building Loan Agreement. “Contingency Excess” shall have the meaning set forth in Section 2.1.7(b) hereof. “Debt” shall mean the outstanding principal amount of the Project Loan set forth in, and evidenced by, this Agreement, the Project Loan Note and the other Project Loan Documents, together with all interest accrued and unpaid thereon and all other sums due to Lender in respect of the Project Loan under the Project Loan Note, this Agreement, the Project Loan Mortgage or any other Project Loan Document. “Debt Service” shall mean, with respect to any particular period of time, the aggregate scheduled principal and interest payments due under this Agreement and the Project Loan Note. “Defeasance Date” shall have the meaning set forth in Section 2.5.1(a)(i) hereof. “Defeasance Event” shall have the meaning set forth in Section 2.5.1(a) hereof. “Earn Out Advances” shall have the meaning set forth in Section 2.12.2 hereof. “Event of Default” shall have the meaning set forth in Section 8.1(a) hereof. “Final Advance” shall have the meaning set forth in Section 2.12.1 hereof. “Final Building Loan Advance” shall mean the Final Advance as defined in Section 2.12.1 of the Building Loan Agreement. 2

Building Loan Note and (iii) that certain Project Loan Promissory Note dated as of December 22, 2017 in the original principal amount of up to $28,999,837.00 made by Borrower payable to the order of Lender (the “Project Loan Note”; together with the Term Loan Note and the Building Loan Note, and as the same may be further amended, modified or assigned from time to time, collectively, the “Note”). ​

Building Loan Note the same shall mean the Restated Note as described herein and as may hereafter be modified or amended. Unless otherwise specified herein (a) words importing any gender include the other gender and (b) the words “include” or “including” or words of similar import, shall be deemed to be followed by the words “but not limited to” or “without limitation.” The terms “Owner” and “Mortgagor” as used in the Mortgage, in the Restated Note or this Agreement, shall be interchangeable and shall refer to the “Mortgagor”, as defined in this Agreement.