Construction Borrowing definition

Construction Borrowing means a Borrowing of Construction Loans.
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Construction Borrowing means a Borrowing pursuant to Section 2.02.
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Construction Borrowing means a Borrowing comprised of Construction Loans or New Construction Loans.
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Examples of Construction Borrowing in a sentence

  • Such Construction Borrowing and Vista Expansion Borrowing shall be subject to satisfaction of the applicable conditions set forth in Sections 4.02 and 4.04.

  • The Borrower shall give Lender written notice (or telephonic notice promptly confirmed in writing) of each Construction Borrowing substantially in the form of Exhibit 2.03 attached hereto (a “Construction Draw Request”) prior to 11:00 a.m. (Central Time) five (5) Business Days prior to the requested date of each Construction Borrowing.

  • The Borrower shall request no more than one Construction Borrowing per calendar month.

  • The aggregate principal amount of each Construction Borrowing shall be not less than $100,000.

  • Notwithstanding anything to contrary set forth herein, the Borrower shall be permitted to request, in accordance with the mechanics set forth in Section 2.03, a final Construction Borrowing to be extended on the Term Conversion Date in an amount equal to all then Available Unused Commitments of the Construction/Term Lenders under the Construction Facility.

  • Notwithstanding anything to the contrary, Lender shall have the irrevocable right (without obligation) at any time and from time to time to advance a Construction Borrowing without first receiving a Construction Draw Request from Borrower.

  • Borrower shall have delivered a Notice of Construction Borrowing to Administrative Agent in accordance with the procedures specified in Section 2.1.

  • Such Construction Borrowing shall be subject to satisfaction of the conditions set forth in Sections 4.02 and 4.04.

  • With respect to the first Construction Borrowing for which all or a portion of the proceeds thereof are used for the payment of any Project Costs payable under the EPC Contract, the Administrative Agent shall have received a copy of the Notice to Proceed (as defined in the EPC Contract) delivered to the EPC Contractor pursuant to the EPC Contract, and such Notice to Proceed shall be in full force and effect.

  • Borrowings also may be classified and referred to by Class (e.g., a "Construction Borrowing") or by Type (e.g., a "Eurodollar Borrowing") or by Class and Type (e.g., a "Eurodollar Construction Borrowing").


More Definitions of Construction Borrowing

Construction Borrowing means a Borrowing, the proceeds of which are to be used in connection with the construction of the Project.
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Related to Construction Borrowing

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Letter of Credit Borrowing means any Credit Extension resulting from a drawing under any Letter of Credit that has not been reimbursed or refinanced as a Borrowing of Revolving Loans.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Term Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a).

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Notice of Swingline Borrowing means a notice substantially in the form of Exhibit G (or such other form reasonably acceptable to the Administrative Agent and containing the information required in such Exhibit) to be delivered to the Swingline Lender pursuant to Section 2.4.(b) evidencing the Borrower’s request for a Swingline Loan.