Examples of Construction Loan Maturity Date in a sentence
In order to exercise the option to convert the Loan to a Permanent Loan, the Borrower must provide the City with written notice of such election at least fifteen (15) days prior to the Construction Loan Maturity Date.
Provided all of the requirements and conditions set forth in Section 5.1 have been met and the Borrower has properly exercised the option to convert the Loan to a Permanent Loan in the manner and at a time permitted under Section 5.2, then the Permanent Phase shall commence on the Construction Loan Maturity Date.
Borrower shall have one (1) option to extend the Construction Loan Maturity Date for a period of six (6) months.
In the event that the construction work is substantially delayed or prohibited by act of God, government interference, or other circumstance beyond the control of Borrower, such delay or prohibition shall not constitute an Event of Default unless Bondowner Representative determines that construction cannot reasonably be expected to be completed by the Construction Loan Maturity Date, or the earlier date when possession of any material part of the improvements has been promised to a tenant.
The Conditions to Conversion are not fully satisfied on or prior to the Construction Loan Maturity Date.