Construction Credit Facility definition
Examples of Construction Credit Facility in a sentence
The Construction Credit Facility provided by Hydro to each KCN Investment Entity will fund Cash Calls during the Construction Period and up to the Final Closing Date, and Hydro will provide an Operating Credit Facility to fund Cash Calls following the Final Closing Date.
If on the Final Closing Date a KCN Investment Entity’s Own Cash Invested plus, if applicable, its Final Closing Preferred Credit, is less than its Maximum Investment Amount, its interest in the Limited Partnership will be reduced proportionately, and the corresponding loans under the Construction Credit Facility will be forgiven, as described in section 5.3 of this JKDA.
If a material default or event of default occurs in connection with any other loans or financing arrangements that Borrower, any Guarantor, or any of their respective Affiliates may have with Lender, including but not limited to the Timeshare Receivables Purchase Facility, the Timeshare Construction Credit Facility, the Timeshare Receivables Hypothecation Facility, and the Bridge Loan Credit Facility.
In addition, the Loan and the Timeshare Receivables Purchase Facility, the Timeshare Construction Credit Facility, the Timeshare Receivables Hypothecation Facility and the Long Wharf Loan shall be cross- defaulted such that any event of default with respect to the Timeshare Receivables Purchase Facility, the Timeshare Construction Credit Facility, the Timeshare Receivables Hypothecation Facility or the Long Wharf Loan shall constitute an Event of Default hereunder, and vice versa.
If a material default or event of default occurs in connection with any other loans or financing arrangements that Borrower or any of their respective Affiliates may have with Lender, including but not limited to the Timeshare Receivables Purchase Facility, the Timeshare Construction Credit Facility, the Timeshare Receivables Hypothecation Facility or the Long Wharf Loan.
Tenant may mortgage, pledge or otherwise encumber this Lease and the Improvements in connection with the Construction Credit Facility, the New Bond Documents and the HET/JCC Agreement; provided that Tenant shall not be permitted to separately mortgage, pledge or encumber either the Lease or the Improvements.
Tenant hereby represents and warrants that it has obtained the Construction Credit Facility and that it has entered into the HET/JCC Agreement.
Any collateral including, without limitation, all Liens, pledges, assignments, mortgages or security interest granted to or for the benefit of Lender pursuant to the Timeshare Receivables Purchase Facility, the Timeshare Construction Credit Facility and the Timeshare Receivables Hypothecation Loan Facility and the Long Wharf Loan shall secure Borrower's Obligations pursuant to this Loan as well as Borrower's obligations pursuant to each of the above-referenced facilities.
In addition, the Loan and the Timeshare Construction Credit Facility shall be cross-defaulted such that any event of default with respect to the Timeshare Construction Credit Facility shall constitute an Event of Default hereunder, and vice versa.
Tenant shall have obtained the Construction Credit Facility (as defined in the Lease) as of the Plan Effective Date and prior to the effectiveness of this GDA.