Construction Escrow Account definition

Construction Escrow Account is defined in the Note Purchase Agreement.

Construction Escrow Account is defined in Section 2.1 of the Depositary Agreement.

Construction Escrow Account means the account designated by that name established by the Company with Depositary pursuant to Section 2.1.

Examples of Construction Escrow Account in a sentence

• On or promptly following the Final Completion Date, the Project Company will distribute an amount equal to the amounts remaining on deposit in the Construction Escrow Account and the IDC Reserve Account, in the aggregate, upon the occurrence of the Final Completion Date (such amount, the “Aggregate Final Completion Distribution”) to the Company.

• The Company shall deposit into the Revenue Account all Project Revenues (other than delay in start-up or business interruption insurance proceeds received prior to the Final Completion Date which will be deposited into the Construction Escrow Account pursuant to Section 3.2.1(c)) .

• The applicable Account Withdrawal Request shall request Collateral Agent to direct Depositary to transfer or apply monies on deposit in the Construction Escrow Account to the account or accounts specified by the Company to pay, to the extent consistent with the then-current Project Budget (including any contingency and subject to any overage permitted by Section 9.14(c) of the Note Purchase Agreement) or otherwise approved or permitted hereunder, Project Costs due and owing.

• On or promptly following the Final Completion Date, the Project Company will distribute an amount equal to the amounts remaining on deposit in the Construction Escrow Account, upon the occurrence of the Final Completion Date (such amount, the “Aggregate Final Completion Distribution”) to the Company.

• For each draw under the Construction Escrow Account, Borrower shall deliver to Lender, a draw request for construction costs in accordance with the Construction Budget, in form reasonably satisfactory to Lender (the “Draw Request”), and stating the amount of disbursement requested, at least ten (10) days before the requested date of disbursement.

More Definitions of Construction Escrow Account

Construction Escrow Account means the account to be established with Disbursing Agent, as disbursing agent, wherein Disbursing Agent will hold all Loan Funds received and make disbursements therefrom.

Construction Escrow Account means the account to be established with Title, as disbursing agent, wherein Title will hold all Loan Funds and Owner Equity received and make disbursements therefrom.

Construction Escrow Account means the account established with Wilmington Trust, National Association, in its capacity as construction escrow agent, entitled “[ ]”.

Construction Escrow Account means an escrow account held by Lender, containing certain funds of Borrower, to be controlled by Lender and paid out as Advances hereunder, if required by Lender in accordance with Section 5.2(f) hereof. Construction Escrow Account Agreement shall mean that certain Construction Loan Escrow Loan Account Agreement and Pledge dated as of the Effective Date by and between Borrower and Lender. Construction/Term Loan shall have the meaning set forth in the Recitals to this Agreement. Construction/Term Loan Commitment shall mean the maximum principal amount of $24,650,000. Construction/Term Loan Maturity Date shall mean November 3, 2011.

Construction Escrow Account shall have the meaning ascribed to such term in Section 2.8.1 hereof.

Construction Escrow Account means the account established by the Escrow Agent, pursuant to the Escrow Agreement, consisting of the balance of the proceeds of the Offering after the Interest Escrow Account has been funded.

Construction Escrow Account has the meaning set forth in the Cash Collateral and Disbursement Agreement.