Construction Loan Availability Period definition

Construction Loan Availability Period means with respect to the Project the period from the Closing Date to the earlier of Completion or the Construction Loan Maturity Date.
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Construction Loan Availability Period means the period commencing on the Closing Date, and ending on the earliest to occur of (i) the full utilization of the Construction Loan Commitments of the Lenders, (ii) January 31, 2017, (iii) the Construction Loan Maturity Date, and (iv) the termination of the Loan Commitments pursuant to the provisions of this Agreement.
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Construction Loan Availability Period means the period commencing on the date upon which the Borrower satisfies the conditions precedent set forth in Section 4.2 (or such conditions precedent are waived in accordance therewith) and ending on the earlier of (a) the Construction Loan Termination Date and (b) the date the Construction Loan Commitments are cancelled or expire pursuant to this Agreement.
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Examples of Construction Loan Availability Period in a sentence

  • Notwithstanding anything to the contrary set forth in the prior sentence, for the avoidance of doubt, each Lender’s remaining Construction Loan Commitment hereunder for all Projects shall be reduced to zero on the last Business Day of the Construction Loan Availability Period for the last Project.

  • Subject to the terms and conditions set forth in this Agreement, Lender agrees to advance to Borrower from time to time during the Construction Loan Availability Period such loans as Borrower may request under this Section 2.1(a) (individually, a "Construction Loan" and collectively the "Construction Loans"), in an aggregate principal amount not to exceed the Total Construction Loan Commitment.

  • Subject to the terms and conditions set forth in this Agreement, Lender agrees to advance to Borrower from time to time during the Construction Loan Availability Period such loans as Borrower may request under this SECTION 2.1(A) (individually, a "CONSTRUCTION LOAN" and collectively the "CONSTRUCTION LOANS"), in an aggregate principal amount not to exceed the Total Construction Loan Commitment.

  • The Construction Loan Commitments committed to a Construction Loan Tranche for which the Project Initial Funding Date has occurred prior to expiration of the Construction Loan Availability Period shall be reduced to zero on the earliest of (i) the Construction Loan Maturity Date for such Construction Loan Tranche, (ii) the date of acceleration of the Construction Loans under Section 7.13 and (iii) termination of the Construction Loan Commitments under Section 7.13.

  • Each Lender’s remaining Construction Loan Commitment shall be reduced to zero on the last Business Day of the Construction Loan Availability Period.

  • The Borrower may add New Projects to the facility by delivering a Notice of New Project to each Lender and the Administrative Agent substantially in the form of Exhibit P no later than 14 days prior to the proposed Project Initial Funding Date for such Project; provided that such Project Initial Funding Date shall be no later than the last day of the Construction Loan Availability Period.

  • These objectives are accomplished by making awards under the Plan thereby providing participants with a proprietary interest in the growth and performance of the Company.

  • Subject to the terms and conditions set forth in this Agreement, each Bank severally agrees to advance to Borrower from time to time during the Construction Loan Availability Period such loans as Borrower may request under this Section 2.1.1 (individually, a "Construction Loan" and collectively the "Construction Loans"), in an aggregate principal amount not to exceed such Bank's Construction Loan Commitment.

  • Such fees shall be due and payable in arrears on (x) each Quarterly Date from the Closing Date through the end of the Tranche A Construction Loan Availability Period and through the end of the Tranche B Construction Loan Availability Period, as applicable and (y) the last day of the Tranche A Construction Loan Availability Period and the Tranche B Construction Loan Availability Period, as applicable.

  • Prior to the commencement of the Second Phase Construction Loan Availability Period, the Borrower shall not incur Project Costs the payment for which is due prior to October 15, 2011, unless after giving effect to the payment of such Project Costs, the Remaining Equity Commitment shall be greater than 105% of the First Phase Loan Agreement Obligations Amount.


More Definitions of Construction Loan Availability Period

Construction Loan Availability Period means the period from and including the Closing Date to (and including) the earliest of (a) the Conversion Date, (b) the Date Certain and (c) the date of acceleration or termination of the Loans pursuant to the terms of this Agreement.
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Construction Loan Availability Period means for the Construction Loans allocated to each Project, the period commencing on the first date upon which the Borrower satisfies the conditions precedent set forth in Sections 3.2 and 3.3 for such Project (or such conditions precedent are waived in accordance therewith) and ending on the earlier of (a) November 4, 2020; (b) COD for such Project, (c) the date such Construction Loan has been repaid in full, (d) the date any Tax Equity Investor has fully funded its commitment under the Tax Equity Documents related to such Project and (e) the date the Construction Loan Commitments are earlier cancelled or expire pursuant to this Agreement.
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Construction Loan Availability Period means the period commencing on the Closing Date, and ending on the earlier to occur of (i) the full utilization of the Construction Loan Commitments of the Lenders, (ii) the Term Date, (iii) the Project Completion Date, and (iv) the termination of the Total Commitment pursuant to the provisions of the Credit Agreement; provided, however, the Tranche B Commitments shall terminate if financing is utilized under a TPS Loan facility.
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Related to Construction Loan Availability Period

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Availability Period means the period from and including the Effective Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitments.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Availability Payment means the payment to Owner described in Section 8.1 for Condition 1 and 8.2 for Condition 2.

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Maximum Credit means, at any time, the lesser of (i) the Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base at such time.

  • Facility Period means the period beginning on the date of this Agreement and ending on the date when the whole of the Indebtedness has been paid in full and the Security Parties have ceased to be under any further actual or contingent liability to the Finance Parties under or in connection with the Finance Documents.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

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

  • Canadian Availability means (a) the lesser of (x) the Canadian Sublimit and (y) the sum of (i) the Canadian Borrowing Base plus (ii) solely to the extent the total Revolving Exposure relating to the Canadian Borrower exceeds the Canadian Borrowing Base, the US Availability (calculated without giving effect to any Canadian US Borrowing Base Utilization), minus (b) the total Revolving Exposure relating to the Canadian Borrower.