Construction Commitment definition

Construction Commitment means any written or oral commitment, offer, or statement made by the Bondholder Representative to the Borrower before the Bond Closing with respect to the terms and manner upon which the Bondholder Representative will purchase the Bonds.

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Construction Commitment means the commitment of each Lender to make Construction Loans to the Borrower from the Initial Date applicable to such Lender to but excluding the Construction Commitment Termination Date up to an aggregate amount, at any one time, not in excess of the amount set forth (i) opposite the name of such Lender under the column entitled "Construction Commitment" in the Schedule of Commitments, or (ii) in any applicable Assignment and Acceptance(s) to which it may be a party, as the case may be, as such amount may be reduced from time to time in accordance with the terms of this Credit Agreement.

Construction Commitment means, with respect to each Lender, the commitment of such Lender to make Construction Loans pursuant to Section 2.01(a), expressed as a Dollar amount representing the maximum aggregate permitted amount of such Lender’s Construction Loans hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.07 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04. The initial Dollar amount of each Lender’s Construction Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Construction Commitment, as applicable. The aggregate amount of the Construction Commitments on the date hereof is $530,000,000.

Examples of Construction Commitment in a sentence

• Unless otherwise defined in this Construction Commitment Agreement, bolded terms, not including headings, used in this Construction Commitment Agreement have the meanings given to them in the Consolidated Authoritative Document Glossary.

• All other terms of the New Construction Loans made under such New Construction Commitment shall be identical to the terms of the existing Construction Loans, except for any different terms as the Administrative Agent and the Borrower may agree to, which terms will be set forth in the applicable supplement to this Agreement entered into pursuant to this Section 2.19.

• The Scope of Work includes any construction to be undertaken at the Property (other than routine maintenance) following the Comprehensive Construction Commitment including GRRP-funded, Owner-funded, and jointly funded measures.

• Any Lender offered or approached to provide all or a portion of the New Construction Commitments may elect or decline, in its sole discretion, to provide a New Construction Commitment.

• After giving effect to the applicable Construction Advance, the estimated as yet unpaid cost to the Construction Agent of completing the Construction pursuant to the Construction Documents shall not exceed the Available Construction Commitment.

More Definitions of Construction Commitment

Construction Commitment is defined in Section 302.3(a). “Construction Contract” is defined in Section 302.3(b).

Construction Commitment means, subject to Section 3.4(e) of the Participation Agreement, an aggregate amount not to exceed at any one time the amount set forth on Schedule I to the Participation Agreement under the heading, Construction Commitment Amount.

Construction Commitment means the commitment of the Lender to make one or more Cheyenne Construction Loans to Speakeasy Vegas pursuant to Article IV hereof in an original aggregate principal amount outstanding not to exceed $1,700,000.

Construction Commitment shall have the meaning provided in Section 2.1 of Article 2 of this Supplement.

Construction Commitment. The agreement between Borrower and Bank dated June 21, 2001, and attached hereto as Exhibit B, the terms of which are incorporated herein.

Construction Commitment means the commitment for construction financing provided to the Developer from the Construction Lender providing financing for the construction and development of the Project which meets the following conditions: (a) all application fees, other fees, costs and expenses to procure the Construction Commitment have been paid by the Developer to the extent due, (b) the Construction Commitment is approved by the DDA (through the agent, employee or department of the DDA designated by the DDA for such purpose) in its reasonable discretion, which approval shall be given if the Construction Commitment for the Project provides sufficient funding to construct the Project, pursuant to the Financing Plan upon commercially reasonable terms for a comparable project, and (c) the Developer has accepted and signed the Construction Commitment.

Construction Commitment means, with respect to each Note Holder, the commitment of such Note Holder to make Construction Advances under the Notes in accordance with subsection 2.2 in the maximum amount set forth opposite such Note Holder’s name on Schedule 2.1A(i), as such commitment (i) may be reduced from time to time pursuant to subsection 2.2, subsection 3.3B and subsection 3.3C and (ii) may be reduced or increased from time to time pursuant to assignments by or to such Note Holder pursuant to subsection 9.1.