Construction Disbursement definition

Construction Disbursement means a disbursement of Loan Proceeds for construction of the Project.
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Construction Disbursement. As such term is defined in Section 7.3.
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Construction Disbursement. A disbursement of Loan Proceeds for construction of the Project.
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Examples of Construction Disbursement in a sentence

  • The proceeds of the Funding Loan shall be advanced by the Funding Lender to the Fiscal Agent (pursuant to the wiring instructions on Exhibit G attached hereto) for payment to or for the benefit of the Borrower for the account of the Governmental Lender as and when needed to make each advance in accordance with the disbursement provisions of the Construction Disbursement Agreement, Section 7.7 hereof, and Section 2.11 of the Borrower Loan Agreement.

  • The proceeds of the Funding Loan shall be advanced by the Funding Lender to the Fiscal Agent, and then from the Fiscal Agent to the Borrower in accordance with the terms of the Construction Disbursement Agreement, the Funding Loan Agreement and this Borrower Loan Agreement.

  • The Construction Inspector shall be well-acquainted with MHDC design and construction standards as stated in the MHDC Construction Compliance Guidelines, as may be amended, and the MHDC Construction Disbursement Guide, as may be amended, and follow those standards in the performance of the contract.

  • To the extent that Lender may have acquiesced (whether intentionally or unintentionally) in the Borrower’s failure to comply with and satisfy any condition precedent to the Closing, to any Construction Disbursement or to any Disbursement of Loan Proceeds, such acquiescence shall not constitute a waiver by Lender of any condition precedent set forth in this Agreement, and Lender at any time thereafter may require the Borrower to comply with and satisfy all conditions and requirements of this Agreement.

  • The Bonds are subject to mandatory redemption in whole upon the occurrence of an event of default under the Bond Loan Agreement, any other Bond Loan Document or the Construction Disbursement Agreement at the direction of the Bondowner Representative at a redemption price equal to the principal amount of the Bonds then outstanding, plus accrued interest thereon to the date of redemption.

  • The Debtors sought declaratory relief to require U.S. Bank, in its dual roles as the Indenture Trustee and the Disbursement Agent, to disburse $11.5 million from the Construction Disbursement Account for payment of construction expenses for work performed before Hurricane Katrina.

  • Assets maintained in the Company Funds Account and the Construction Disbursement Account are owned beneficially by the Borrower and/or OpCo, subject to the terms and conditions of this Agreement and the Account Control Agreements.

  • Investment income from amounts on deposit in the Company Funds Account or the Construction Disbursement Account shall be held in such account and applied for the purposes applicable to such account pursuant to this Agreement.

  • The Funding Loan shall be funded by deposits to the Project Fund under the Funding Loan Agreement by the Funding Lender upon satisfaction of the conditions set forth in the Construction Disbursement Agreement, in one or more installments not to exceed the Borrower Loan Amount in accordance with the disbursement procedures set forth in the Construction Disbursement Agreement and the Funding Loan Agreement.

  • With respect to any Borrowing (other than in connection with a Construction Disbursement), the Agent Bank shall have received in accordance with Section 2.03 on or before such Funding Date an original and duly executed Notice of Borrowing or facsimile copy thereof, to be promptly followed by an original.


More Definitions of Construction Disbursement

Construction Disbursement shall have the meaning provided in the Loan Agreement.
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Construction Disbursement means, with respect to each Individual Property, a disbursement by the Trustee from the Project Fund for the Costs of constructing, renovating or installing the Applicable Project, including without limitation the Improvements or Off-Site Improvements at or with respect to such Individual Property.
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Related to Construction Disbursement

  • Construction Costs means land costs, all costs paid to construct and complete the Improvements, as specified on Exhibit "B" attached hereto and made a part hereof.

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

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

  • Disbursement is defined in Section 2.6.2.

  • Construction Fee means a fee or other remuneration for acting as general contractor and/or construction manager to construct improvements, supervise and coordinate projects or provide major repairs or rehabilitations on a Property.

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

  • 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.

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Construction Work means any work in connection with⎯

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

  • Tenant Improvement Allowance in the maximum amount of $200.00 per rentable square foot in the Premises, which is included in the Base Rent set forth in the Lease; and

  • Construction and demolition debris means and includes:

  • Final Drawing has the meaning specified in Section 3.05(i).

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

  • Construction Drawings means those drawings containing the technical details associated with the design, construction and installation of the Infrastructure;

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

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • 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.

  • Interest Drawing has the meaning assigned to such term in Section 3.6(a).