Construction Disbursement Agreement definition

Construction Disbursement Agreement means that certain [Construction Disbursement Agreement] dated [ ], 2022, between the Initial Funding Lender, in its capacity as Servicer and the Borrower, pursuant to which the Borrower Loan will be advanced by the Funding Lender (or the Servicer on its behalf), as agent, solely for the purpose of disbursing the Borrower Loan for the Governmental Lender to the Fiscal Agent for disbursement to the Borrower and setting forth certain provisions relating to disbursement of the Borrower Loan during construction, insurance and other matters, as such agreement may be amended, modified, supplemented and replaced from time to time.

Construction Disbursement Agreement means the Construction Disbursement Agreement dated as of even date with this Indenture, between the Borrower and Bank, as the same may be supplemented, amended or modified.

Construction Disbursement Agreement means the Construction Disbursement Agreement dated as of , 2023, by and among the Manager, the Construction Monitor, the Trustee [and JPMorgan Chase Bank, National Association, in its capacity as the Purchasers’ Representative].

Examples of Construction Disbursement Agreement 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 Trustee may rely fully on the representations of the Borrower contained in any Requisition, and upon the written approval of the Servicer set forth on any Requisition, delivered pursuant to the Loan Agreement, this Indenture and the Construction Disbursement Agreement, and shall not be required to make any investigation or inspection of the Project in connection therewith.

• Such Purchaser shall have received evidence satisfactory to it that the proceeds of each Series 2023[●] Bonds deposited in the Construction Account has been applied and disbursed in accordance with the terms of the Indenture and the Construction Disbursement Agreement.

• There is no secured or unsecured indebtedness with respect to the Project or any residual interest therein, other than Permitted Encumbrances and the Subordinate Debt except the deferred Developer Fee not to exceed the maximum amount permitted under the Construction Disbursement Agreement and any unsecured loans advanced by any partner of the Borrower permitted pursuant to the terms of the Partnership Agreement.

More Definitions of Construction Disbursement Agreement

Construction Disbursement Agreement means the Construction Disbursement Agreement dated as of 1, 2019 between the Borrower and the Bank, as may be amended, supplemented or modified from time to time.

Construction Disbursement Agreement means the [Construction Disbursement Agreement] dated as of the Delivery Date by and between the Borrower and the Servicer, as the same may be amended, modified or supplemented from time to time.

Construction Disbursement Agreement means that certain Construction Disbursement Agreement dated as of the date hereof, between the Funding Lender and the Borrower, setting forth certain provisions relating to disbursement of the Borrower Loan during construction, insurance and other matters, as such agreement may be amended, modified, supplemented and replaced from time to time.

Construction Disbursement Agreement means that certain [Second] Amended and Restated Construction Disbursement Agreement dated as of [June] 1, 2024, between the Servicer and the Borrower, pursuant to which the Borrower Loan will be advanced by the Funding Lender (or the Servicer on its behalf), on behalf of the Governmental Lender, to the Fiscal Agent for disbursement to the Borrower and setting forth certain provisions relating to disbursement of the

Construction Disbursement Agreement means that certain Construction Disbursement Agreement dated as of [ , 2020], between the Funding Lender, as agent for the Governmental Lender, and the Borrower, pursuant to which the Borrower Loan will be advanced by the Funding Lender (or the Servicer on its behalf), as agent of the Governmental Lender, to the Fiscal Agent for disbursement to the Borrower and setting forth certain provisions relating to disbursement of the Borrower Loan during construction, insurance and other matters, as such agreement may be amended, modified, supplemented and replaced from time to time.

Construction Disbursement Agreement means that certain Construction Disbursement Agreement of even date herewith, between the Servicer and Borrower, pursuant to which the Borrower Loan will be advanced by the Funding Lender (or the Servicer on its behalf), as agent of the Governmental Lender, to the Fiscal Agent for disbursement to the Borrower and setting forth certain provisions relating to disbursement of the Borrower Loan during construction of the Project, insurance and other matters, as such agreement may be amended, modified, supplemented and replaced from time to time.

Construction Disbursement Agreement means the Construction and Permanent Loan Agreement to be entered into by and between the Borrower and the Funding Lender, setting forth certain covenants and conditions relating to the Loans, as the same may be further amended, restated, supplemented or otherwise modified from time to time.