Examples of Construction Loan Commitment in a sentence
The aggregate principal amount of the Construction Loans made by each Lender shall not exceed the Construction Loan Commitment of such Lender.
Each such Note shall be payable to the order of such Lender in a principal amount equal to such Lender’s Construction Loan Commitment, Term Loan Commitment or Working Capital Loan Commitment, as applicable.
The Company shall have duly issued, executed and delivered, upon written request, to (i) each Construction Loan Lender, a Construction Loan Note, dated the Closing Date, with appropriate insertions and in a principal amount equal to such Lender's Construction Loan Commitment and (ii) each Revolving Credit Lender, a Revolving Credit Note, dated the Closing Date, with appropriate insertions and in a principal amount equal to such Lender's Revolving Credit Commitment.
As an immediate consequence of Theorems 3.6 and 3.9, we get the following result.
After the Adjustment Date, a portion of each Cash Secured Advance shall be subject to mandatory prepayment and become due and payable in an amount equal to any reduction in the applicable Lender Group's Construction Loan Commitment.