Construction Note definition

Construction Note means the promissory note executed by the Partnership to evidence its obligations with respect to the Construction Loan, which note is or shall be secured by the Construction Mortgage.

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Construction Note means that certain promissory note of even date herewith executed and delivered to the Lender by the Borrower in the amount of $27,000,000.00 and pursuant to the terms and conditions provided for in this Agreement and the First Supplement to this Agreement.

Construction Note means the promissory note of the BORROWER in the form of Exhibit B evidencing borrowings under the CONSTRUCTION LOAN of up to a maximum amount of Thirty Two Million Nine Hundred Thousand ($32,900,000.00) Dollars.

Examples of Construction Note in a sentence

• The computation of interest, amortization, maturity and other terms and conditions of the Construction Loan shall be as provided in the Construction Note, provided, however, in no event shall the applicable rate exceed the Maximum Rate.

• Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any.

• If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any.

• The Initial Funding Note, the Construction Note and all amendments thereto and substitutions therefor are hereinafter referred to collectively, as the “Note.” The terms and provisions of the Loan Agreement and Note are hereby incorporated by reference in this Deed of Trust.

• The computation of interest, amortization, maturity and other terms and conditions of the Term Loan shall be as provided in the Construction Note, provided, however, in no event shall the applicable rate exceed the Maximum Rate.

More Definitions of Construction Note

Construction Note or "note" means a note of a joint system issued to provide funding for the creation of a financing pool and the costs associated with it.

Construction Note that certain Promissory Note dated as of January 1, 1995 made by Assignor in favor of Assignee in the Construction Note Amount and all replacements, substitutions, modifications, renewals and extensions thereof, which Construction Note is payable on the Maturity Date of the Construction Note."

Construction Note means, the Promissory Note in the principal face amount of the Construction Loan Amount dated or to be dated on or prior to the Closing Date, made by the Borrower to the order of the Lender, such Promissory Note to be in form and substance satisfactory to the Lender.

Construction Note means the promissory note of Borrower in favor of Lender evidencing the Construction Facility provided pursuant to Section 2.3, as such promissory note may be amended, modified, extended, restated, replaced, or supplemented from time to time.

Construction Note means the promissory note(s) of even date herewith payable to the order of Lender and executed by Borrower to evidence the Construction Loan.

Construction Note has the meaning given in Section 2.1.6 of the Credit Agreement.

Construction Note has the meaning given in Section 2.1.6.