Construction Period Termination Date definition

Construction Period Termination Date means (a) the earlier of (i) the date that the Commitments have been terminated in their entirety in accordance with the terms of Section 2.5(a) of the Credit Agreement, or (ii) the second anniversary of the Initial Closing Date or (b) such later date as may be agreed to by the Majority Secured Parties.

Construction Period Termination Date means, with respect to construction of Multi-Family Properties for Eligible Properties, the date which is 3 months after the issuance of a permanent certificate of occupancy for the last unit of such Multi-Family Property which is an Eligible Property.

Construction Period Termination Date the earlier of (a) the Completion Date and (b) Date Certain.

Examples of Construction Period Termination Date in a sentence

• This Agreement shall commence on the date hereof and shall terminate on the Construction Period Termination Date.

• Prior to the Construction Period Termination Date, the Construction Agent in its Requisition for the final Advance may request amounts to pay for punch list items for the Property that have not been completed at such time and that may not be completed until after the Completion Date (such Advance being referred to herein as the “Punchlist Advance”).

• This Agreement shall commence on the date hereof and, unless the Lessor (in its sole discretion) elects otherwise, this Agreement shall terminate on the Construction Period Termination Date.

• After the earlier to occur of the applicable Completion Date or Construction Period Termination Date for such Property, as applicable, each Indemnified Person shall be a beneficiary of the provisions set forth in Sections 11.1, 11.2 and 11.5.

• During the Term, Lessee may cease operations at Properties having a Maximum Property Cost not to exceed fifty percent (50%) of the Maximum Property Cost of all Properties as of the Construction Period Termination Date; provided, during such 8 period of ceased operations Lessee shall comply with its obligations under the Operative Agreements.

More Definitions of Construction Period Termination Date

Construction Period Termination Date means (a) the earlier of (i) the date that the Lessor Parties Commitment has been terminated in its entirety in accordance with the terms of the Participation Agreement, or (ii) the date that is eighteen (18) months after the Initial Closing Date or in the event that a Force Majeure Event occurs with respect to the Property during such eighteen (18) month period, then the date that is up to three (3) months after such eighteen (18) month period as determined in a manner consistent with Section 3.3 of the Agency Agreement or (b) such later date as shall be agreed to by each Lessor Party, in its sole discretion.

Construction Period Termination Date means the earlier of (i) Scheduled Construction Period Termination Date and (ii) the Completion Date.

Construction Period Termination Date means February 5, 2021, as the same may be extended by the Lessee up to (3) three months during the occurrence of any Force Majeure Event or restoration of the Facility following an Event of Loss, Condemnation or Casualty, or as may be extended by the Lessor in its sole and absolute discretion at the request of the Construction Agent; provided, that such date shall not be extended beyond May 5, 2021.

Construction Period Termination Date means the second anniversary of the Initial Closing Date.

Construction Period Termination Date means the Target Construction Period Termination Date or in the event that a Force Majeure Event occurs with respect to the Property prior to the Target Construction Period Termination Date, then such later date (if any) as may be determined in accordance with Section 5.18 of the Participation Agreement, or such earlier date as the Mortgage Loan Commitments shall terminate as provided in the Mortgage Loan Agreement, the Credit Loan Commitments shall terminate as provided in the Credit Loan Agreement or the Lessor Commitment shall terminate as provided in the Participation Agreement.

Construction Period Termination Date means the second annual anniversary of the Initial Closing Date, as such date may be extended for up to six (6) additional months to the extent that a delay in construction is caused by a Force Majeure Event.

Construction Period Termination Date in Appendix A to the Participation Agreement is hereby amended by deleting the reference therein to “June 12, 2002” and replacing such reference with “June 14, 2002”.