Construction Loan Closing definition

Construction Loan Closing means the closing of the transactions described in Section 5.2 hereof.
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Construction Loan Closing refers to the closing of all loans funding acquisition, rehabilitation, and the construction of the project.
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Construction Loan Closing means the closing of the Construction Loan and the funding of the first draw of proceeds under the Mortgage Loan and the Mezzanine Loan on the date hereof.
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Examples of Construction Loan Closing in a sentence

  • Contractor shall receive a construction management fee under the construction management agreement to be executed at or before the Construction Loan Closing equal to $2,000 per unit, payable from monthly draws on the Construction Loan based on percentage of completion as certified by the Construction Consultant as certified by the Construction Consultant, minus $49,000.

  • All the required submissions listed in the Construction Loan Closing Checklist in the Legal Documents Manual Index XVI must also be submitted to the project manager per the dates contained in the Development Timeline Letter.

  • Construction Loan Closing - The date mutually approved by PHFA and Owner upon which the parties execute the Contract Documents.

  • The Option shall terminate on the earlier of (a) the date Owner satisfies the Construction Loan Closing Conditions or (b) the Termination Date, in which case the Option shall be deemed to have expired and this Agreement shall be terminated of record.

  • Prior to the Construction Loan Closing and after consultation with WPHC, Xxxx shall cause to be prepared detailed construction Plans and Specifications for the Project, and shall submit such Plans and Specifications to WPHC for approval.

  • At the Construction Loan Closing, the Company shall enter into the Property Management Agreement with The Xxxx Company, an Affiliate of Xxxx.

  • Immediately after the Construction Loan Closing, the Company shall make a distribution to WPHC as a return of its capital in the amount allowed for such purpose under the terms of the Construction Loan.

  • Xxxx shall cause all agreements with contractors and subcontractors to provide for retainages at levels acceptable to Construction Lender and the release of retainages as set forth in the Construction Loan documents as executed at the Construction Loan Closing.

  • Prior to the Construction Loan Closing and after consultation with WPHC, Feld shall cause to be prexxxxd detailed construction Plans and Specifications for the Project, and shall submit such Plans and Specifications to WPHC for approval.

  • Construction Loan Closing Deadline: Per Section 200(h) of the Guidelines, the construction loan closing shall occur no later than thirty-six (36) months from the date of the Department’s award letter June 25, 2020.


More Definitions of Construction Loan Closing

Construction Loan Closing means the closing of the construction loan(s) to be obtained by
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Construction Loan Closing means each applicable consummation of a Construction Loan.
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Construction Loan Closing means the Closing of the Construction Loan, which shall be on a date which is on or before twenty (20) months from the Closing Date on Developer’s acquisition of the Site.
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Construction Loan Closing means the loan closing for the construction portion of the Approved Financing, held immediately prior to the start of the Project’s rehabilitation.
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Construction Loan Closing means recordation of the Senior Loan Security Documents in the Official Records.
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Related to Construction Loan Closing

  • Loan Closing means the date on which an executed Loan Agreement between the Trust and a Borrower is delivered pursuant to this Bond Resolution.

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

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

  • Loan Closing Date means the date upon which the Loan is made to the Company.

  • Increased Facility Closing Date any Business Day designated as such in an Increased Facility Activation Notice.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • First Amendment Closing Date has the meaning assigned to such term in the First Amendment.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Project Loan Agreement means the Project Loan Agreement dated as of the date hereof among the Borrower, the Governmental Lender and the Fiscal Agent, as amended, supplemented or restated from time to time.

  • Initial Advance means the first Advance made pursuant to Article II.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Second Amendment Closing Date has the meaning assigned to such term in the Second Amendment.

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.

  • Amendment Closing Date means the first date that all the conditions precedent set forth in this Amendment are satisfied or waived in accordance herewith.

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

  • Third Amendment Closing Date has the meaning assigned to such term in the Third Amendment.

  • Fourth Amendment Closing Date the date on which all the conditions precedent set forth in Section 3 of the Fourth Amendment shall be satisfied or waived.

  • Original Loan Agreement has the meaning set forth in the recitals hereto.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Original Loan Documents means the "Loan Documents" as defined in the Original Credit Agreement.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Closing Date Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Closing Date Term Loan Commitment. The aggregate amount of the Closing Date Term Loan Commitments as of the Closing Date is $820,000,000.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Loan Advance The meaning specified in Section 2.2(a).