Construction Phase Credit Facility definition

Construction Phase Credit Facility means the Letter of Credit or any replacement construction phase credit facility acceptable to the Credit Facility Provider.
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Construction Phase Credit Facility means the Initial Construction Phase Credit Facility or, prior to the Conversion Date, and also on and after the Transition Date, any Alternate Security.
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Construction Phase Credit Facility. Provider”) has agreed, pursuant to the terms and subject to the conditions of the Construction Phase Credit Reimbursement Agreement, to facilitate the financing of the Bond Mortgage Loan by providing a Construction Phase Credit Facility to Freddie Mac during the Construction Phase. The Issuer, Trustee the Construction Phase Credit Facility Provider and Freddie Mac have also entered into an Intercreditor Agreement dated as of the date of the Indenture (the “Intercreditor Agreement”) in connection with Freddie Mac’s provision of credit enhancement.
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Examples of Construction Phase Credit Facility in a sentence

  • Such notice to the Issuer, the Borrower, the Credit Facility Provider and the Construction Phase Credit Facility Provider may be served personally or sent by certified mail or overnight delivery service.

  • Notwithstanding any other provision of this Indenture or the other Bond Documents or the Construction Phase Credit Documents to the contrary, the Construction Phase Credit Facility Provider shall be entitled to the release and return of the Construction Phase Credit Facility on the Conversion Date.

  • Any other provisions of the Resolution notwithstanding, amounts on deposit in the Credit Facility Payments Sub-Account, pending application, (i) so long as the Initial Construction Phase Credit Facility is in effect, shall be held uninvested, and (ii) at all other times, may only be invested in Government Obligations maturing or being redeemable at the option of the holder thereof in the lesser of thirty (30) days or the times at which such amounts are needed to be expended.

  • The Trustee may also be removed, if an Event of Default described in paragraph (b) under the heading “Events of Default; Acceleration; Remedies” above shall have occurred and be continuing, by a written instrument or concurrent instruments signed by the Holders of more than 51% of the aggregate principal amount of the Bonds then Outstanding and delivered to the Trustee, the Issuer, the Borrower, the Credit Facility Provider and the Construction Phase Credit Facility Provider.

  • Any other provision of the Resolution notwithstanding, amounts on deposit in the Remarketing Proceeds Purchase Account, or any other funds held by or at the direction of the Tender Agent pursuant to the Resolution pending application, shall (i) so long as the Initial Construction Phase Credit Facility is in effect, be held uninvested, and (ii) at all other times, be invested as otherwise provided in the Resolution or the Remarketing Agreement, as the case may be.

  • The United Nations Development Programme (UNDP) has the task of implementing the Universal Sustainable Development Goals (SDG’s) through their work in over a hundred and seventy countries and territories (United Nations Development Programme, 2017).

  • Failure of the successful bidder to comply with the requirements of the above clauses shall constitute sufficient grounds for the annulment of the award and forfeiture ofEMD.

  • Improperly installed systems will create serious safety hazards to property owners, their friends, family, employees and local electric distribution company workers.

  • None of the Issuer, the Trustee, the Construction Phase Credit Facility Provider or Freddie Mac shall have the obligation to pay such fees from their own funds.

  • All references in this Indenture to the Construction Phase Credit Facility Provider shall be of no further force or effect and shall be disregarded for all purposes of this Indenture from and after the Conversion Date.


More Definitions of Construction Phase Credit Facility

Construction Phase Credit Facility means the irrevocable direct pay letter of credit issued by the Construction Phase Credit Facility Provider on the Closing Date for the benefit of Freddie Mac in the amount of the initial principal amount of the Bonds plus interest thereon for a period of 189 days at the interest rate on the Bonds, and any replacements or renewals thereof.
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Construction Phase Credit Facility means the Initial Construction Phase Credit Facility or any Alternate Credit Facility in effect prior to the Conversion Date.
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Construction Phase Credit Facility means the irrevocable direct pay letter of credit issued by the Construction Phase Credit Facility Provider on the Delivery Date for the benefit of the Trustee in the amount of the initial principal amount of the Bonds plus interest thereon for a period of 35 days at an interest rate of 12% per annum, and any replacements or renewals thereof.
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Construction Phase Credit Facility means, collectively those irrevocable, standby letters of credit issued on the Delivery Date by the Bank and the Federal Home Loan Bank of San Francisco in favor of Freddie Mac or any replacement construction phase credit facility acceptable to the Credit Facility Provider.
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Related to Construction Phase Credit Facility

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • New Credit Facility is defined in Section 9.8.

  • Senior Credit Facilities means the Credit Facilities entered into as of the Measurement Date by and among the Issuer, Holdings III, the lenders party thereto in their capacities as lenders thereunder and Citibank, N.A., as Administrative Agent, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof).

  • Senior Credit Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Facility means the entire operation located on the property where the Equipment is located;