Construction Completion Guaranty definition

Construction Completion Guaranty means a Third Mezzanine Construction Guaranty of Completion from Guarantors in favor of Lender in the form attached hereto as Exhibit A, as such agreement may be amended, restated, replaced, supplemented or otherwise modified from time to time.

Construction Completion Guaranty means a Second Mezzanine Construction Guaranty of Completion from Guarantors in favor of Lender in the form attached hereto as Exhibit A, as such agreement may be amended, restated, replaced, supplemented or otherwise modified from time to time.

Construction Completion Guaranty shall have the meaning as set forth in Section 6 of Article 15.

Examples of Construction Completion Guaranty in a sentence

• Borrowers shall deliver to Lender, contemporaneously with the submission thereof by Mortgage Borrowers to Mortgage Lender pursuant to Section 3.2(f) of the Mortgage Loan Agreement, two (2) fully-executed originals of the Construction Completion Guaranty in favor of Lender.

• Any payments made by MGM or MGM MIRAGE pursuant to the Construction Completion Guaranty shall not constitute Capital Contributions to the Company, but rather shall be treated as paid outside the Company by MGM or MGM MIRAGE in its individual capacity and not as (or on behalf) of a Member.

• The Construction Completion Guaranty shall include a provision that the Builder undertakes to perform its completion obligation (to complete the Project Facilities within 21 months from the Initial Drawdown Date, and the time frame set forth in the Construction Completion Guaranty and in the event of default thereof, to assume the Secured Obligations).

• The Builder shall execute and submit to the Facility Agent the Construction Completion Guaranty in favor of the Lenders in form and substance reasonably satisfactory to the Facility Agent prior to the Initial Drawdown.

• Lender shall, at Borrowers’ reasonable expense (including Lender’s reasonable attorneys’ fees), promptly execute and deliver such documents as may be reasonably requested by Borrowers or Guarantors to evidence such release of the Non-Qualified Prepayment Guaranty and such provisions of the Construction Completion Guaranty.

More Definitions of Construction Completion Guaranty

Construction Completion Guaranty means that certain guaranty executed by MGM and MGM MIRAGE in favor of the Company dated on or about the date hereof which, among other things, provides for MGM’s and MGM MIRAGE’s payment obligations with respect to any costs in excess of the Construction Budget.

Construction Completion Guaranty means that certain Amended and Restated Sponsor Completion Guarantee (MGM MIRAGE) dated as of April 29, 2009, executed by MGM MIRAGE in favor of the Company and the other Persons named therein, as amended by the Second Amended and Restated Sponsor Completion Guarantee dated as of January 11, 2011 and by the Third Amended and Restated Sponsor Completion Guarantee dated as of October 16, 2013.

Construction Completion Guaranty means that certain Second Mezzanine Construction Guaranty of Completion, dated as of May 30, 2008, from Guarantors in favor of Lender, as modified and ratified by the First Loan Document Modification Agreement and the First Guaranty Modification Agreement, and as the same hereafter may be amended, restated, replaced, supplemented or otherwise modified from time to time.

Construction Completion Guaranty means that certain First Mezzanine Construction Guaranty of Completion, dated as of May 30, 2008, from Guarantors in favor of Lender, as modified and ratified by the First Mezzanine Loan Document Modification Agreement and the First Guaranty Modification Agreement, and as the same hereafter may be amended, restated, replaced, supplemented or otherwise modified from time to time.

Construction Completion Guaranty means that certain shall mean that certain Hazardous Material Indemnity Agreement dated as of the date hereof from the Existing Indemnitors in favor of the Beneficiary.

Construction Completion Guaranty means the Construction Guaranty of Completion dated after the date hereof by DLJMB and Morgans in favor of the Lender, as amended, restated, replaced, supplemented or otherwise modified from time to time.

Construction Completion Guaranty means that certain Amended and Restated Sponsor Completion Guarantee (MGM Parent) dated as of April 29, 2009, executed by MGM Parent in favor of the Company and the other Persons named therein, as amended by the Second Amended and Restated Sponsor Completion Guarantee dated as of January 11, 2011 and by the Third Amended and Restated Sponsor Completion Guarantee dated as of October 16, 2013 and further amended and terminated by the Amendment and Termination and Release of MGM Resorts Completion Guarantee dated as of June 10, 2015.