Construction Credit Event definition

Construction Credit Event means the making of any Construction Loan.
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Construction Credit Event has the meaning given in Section 3.3.
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Examples of Construction Credit Event in a sentence

  • If any Construction Credit Event is the initial Borrowing of Expansion Tranche Loans, (i) each “CPUC Approval” under and as defined in each Diablo Expansion Utility RA Contract shall have been obtained and copies thereof shall have been delivered to the Administrative Agent and (ii) either the Expansion Option under and as defined in the Diablo Base EPC Contract or the EPC Option shall have been exercised and the Administrative Agent shall have received written evidence thereof.

  • MGMA-ACMPE reserves the right to reject or cancel any Advertisement prior to publication or thereafter for any reason at any time without liability.

  • No Event of Default or Inchoate Default, no Non-Fundamental Project Default or Non-Fundamental Project Inchoate Default in respect of the Project for which funds are being requested and, to the extent Section 3.9(b) does not otherwise permit Borrowings, no other Non-Fundamental Project Default or Non-Fundamental Project Inchoate Default has occurred and is continuing or will result from such Construction Credit Event.

  • The making of each applicable Construction Credit Event shall be in such amounts as shall ensure that (a) uncommitted funds remaining in the Construction Account shall be disbursed to the greatest extent possible, subject to the requirements of Section 2.1.1(b)(ii) and (b) equity contributions to Project Costs shall be not less than 15% of Project Costs to-date.

  • Borrower shall provide, or Lender shall be adequately assured, that the Title Insurer is committed at the time of the applicable Construction Credit Event to issue to Lender a form 122 or other endorsement to the Title Policy dated as of the date of such Construction Credit Event, confirming the continuing first priority Lien of the Deed of Trust on the Mortgaged Property, subject only to the Title Exceptions and Permitted Liens.

  • After taking into consideration the making of the applicable Construction Credit Event, Lender shall have determined that Available Construction Funds shall not be less than the aggregate unpaid amount required to cause Completion to occur in accordance with all Legal Requirements, the Construction Contract and the Credit Documents prior to the Outside Date and to pay or provide for all anticipated non-construction Project Costs, all as set forth in the then-current Project Budget.

  • Lender shall have determined that the original principal amount of all Loans (after taking into consideration the making of the applicable Construction Credit Event requested), shall not exceed fifty-five percent (55%) of the Project Costs incurred as of such time.

  • Borrower makes the following representations and warranties to and in favor of the Lead Arrangers, Administrative Agent, LC Bank and the other Banks as of the Effective Date and as of the date of each Construction Credit Event, Turbine Purchase Credit Event and LC Action, in each case to the extent set forth in Article 3.

  • Notwithstanding the foregoing, the Required Banks, without waiving any of the Banks' rights hereunder, shall have the right to effect a Construction Credit Event, Turbine Purchase Credit Event or LC Action hereunder without full compliance by Borrower with the conditions described in this Article 3.

  • The condition set forth in Section 3.1.33 continues to be satisfied as of the date of the Construction Credit Event.

Related to Construction Credit Event

  • Credit Event UPB With respect to any Credit Event Reference Obligation, the unpaid principal balance thereof as of the end of the Reporting Period related to the Payment Date that it became a Credit Event Reference Obligation.

  • Credit Event shall have the meaning assigned to such term in Section 4.01.

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • Credit Event Amount With respect to each Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Credit Event Net Loss means, with respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of:

  • Construction Completion Date means the Completion Date of the Construction as specified in the Statutory Declaration of Completion for the Project;

  • Construction Lender means a person who makes a construction loan.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Credit Event Net Gain means, with respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of:

  • Construction activity means any clearing, grading or excavation associated with large construction activity or associated with small construction activity.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

  • Construction Zone shall have the meaning set forth in Clause 8.3 (i);

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Construction Change Directive means a written order prepared by Owner Parties and signed by Owner directing Contractor to perform a change in the Work prior to agreeing to a change, if any, to the Contract Time, schedule of performance of the Work, Contract Sum, or Contractor’s compensation.

  • Credit Event Resolution Request Date means, with respect to a notice to ISDA requesting that a Credit Derivatives Determinations Committee be convened to resolve:

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Project Completion Date means the date on which the Completion Certificate is issued;