Construction Period Interest definition

Construction Period Interest means all interest that accrues on the Outstanding Principal during the Construction Period.
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Construction Period Interest. An annual interest rate of Two Percent (2%) over the Prime Rate applied to the disbursed/accrued portion of Lessor's Maximum Costs, as computed each month (but in no event greater than the maximum rate then permitted under applicable law). Construction Period Interest shall accrue monthly in arrears based on a 360 day year.
Sample 1
Construction Period Interest means, with respect to a Xxxxxxx Inn Hotel covered by an Approved Franchisee Loan, interest payable on the Approved Franchisee Loan for the period prior to the Completion Date, as itemized in the Approved Construction Budget.
Sample 1

Examples of Construction Period Interest in a sentence

  • Any such amount of Construction Period Interest advanced by the Administration shall constitute part of the principal amount of the Loan hereunder immediately upon its advance to the Borrower in accordance with this paragraph.

  • Notwithstanding the advance of any Construction Period Interest to the Borrower in accordance with this Section, the Borrower shall pay directly to the Administration the Administrative Fee on the dates and in the amounts set forth in Section 3.04(c), and no amounts shall be advanced under the Loan for the payment of the Administrative Fee.

  • Notes: Cost Includes Commission Expenses, Construction Period Interest, Legal Fees & Street Improvement Cost.

  • Use proceeds from each Disbursement solely to finance: (i) the manufacture, construction, fabrication, financing and purchase of the Vessel; (ii) Construction Period Interest; and (iii) the Guarantee Fees.

  • Project Area 4 Expenses include TIF Administration Expenses, Construction Period Interest and Finance Cost.

  • Use the proceeds from the issuance of any Fixed Rate Notes to repay amounts owed under the Floating Rate Note or to finance: (i) the manufacture, construction, fabrication, financing and purchase of the Vessel; (ii) Construction Period Interest; and (iii) the Guarantee Fees.

  • Notes: Project Expenses includes Engineering Surveys Costs, Professional Services, TIF Administration Fees and Construction Period Interest.

  • The following items are included: Arlington Road TIF Plan/Arlington Link Engineering/Survey Costs, Project Management Fees, G.C. Fees, Professional Services Fees, Administrative Fees and Construction Period Interest: Consideration of a Partial Completion and Compliance No. 3 for costs through October 31, 2020, and other matters related thereto.

  • Notes: Cost Includes Construction Period Interest, Legal Fees & TIF Commission Expenses.

  • Rayford) Issued to: Hunt Midwest Real Estate Development, Inc.Use of Funds to Date:Total Engineering/Survey Costs$173,338 Total Project Management Fees$ 13,804 Total G.C. Fees$ 20,449 Total TIF Administration Fees$194617 Cost Certifier:Total Construction Period Interest Novak Birks, p.c.$234,504 Arlington Road TIF Plan/Phase 1 – Arlington East: Consideration of a Certificate of Partial Completion and Compliance No. 4 through October 31, 2020, and other matters related thereto.

Related to Construction Period Interest

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Scheduled Construction Period means the period commencing from the Appointed Date and ending on Scheduled Completion Date;

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Construction Completion Date means the Completion Date of the Construction as specified in the Statutory Declaration of Completion for the Project;

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Final Completion Date means the date on which Final Completion occurs.

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Construction Commencement Date means the date set out in the Addendum, if applicable, by which you must commence construction of the Hotel. For the Hotel to be considered under construction, youmust have begun to pour concrete foundations for the Hotel or otherwise satisfied any site-specific criteria for “under construction” set out in the Addendum.

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Commencement Date of the Contract means the date of signing of the Contract between the Purchaser and the Contractor.

  • Substantial Completion Date means the date on which Substantial Completion occurs.

  • The Completion Date means the date of completion of the Works as certified by the Employer’s Representative.

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Month End Interest As defined in each Servicing Agreement.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Loan Commencement Date means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month.

  • Interest Commencement Date means the Issue Date or such other date as may be specified in the relevant Final Terms.

  • Accumulation Period Factor means, for any Collection Period, a fraction with:

  • Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.

  • Equalized assessed value means the assessed value of a property divided by the current average ratio of assessed to true value for the municipality in which the property is situated, as determined in accordance with sections 1, 5, and 6 of P.L.1973, c.123 (C.54:1-35a through C.54:1-35c).

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Increased Assessed Value means, for each Fiscal Year during the term of this Agreement, the amount by which the Current Assessed Value for such year exceeds the Original Assessed Value. If the Current Assessed Value is less than or equal to the Original Assessed Value in any given Tax Year, there is no Increased Assessed Value in that year.

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

  • Project Commencement Date means the commencement date notified to the Minister pursuant to clause 4(1);

  • Construction Work means any work in connection with⎯