Construction Reserve definition

Construction Reserve has the meaning set forth in Section 8.4(a) hereof.
Sample 1
Construction Reserve means an amount of proceeds of Advances not to exceed at any time $250,000, that may be held in the Construction Account as a reserve to pay (in accordance with the Construction Budget) Project Costs not anticipated at the time of any applicable Advance.
Sample 1
Construction Reserve means the amount of US$20,000,000;
Sample 1

Examples of Construction Reserve in a sentence

  • MARAD will ac- cept electronic options (such as fac- simile and Internet) for transmission of required information to MARAD, if practicable.(b) Form of application: Maritime Administration, DOT § 287.4 Application for Permission To Establish a Construction Reserve Fund Under Sec.

  • This Investment Policy and Strategy applies to all County funds including General Revenue, Road and Bridge, Tobacco, Construction, Reserve funds, Debt Service funds and funds of the County Benefits Program.

  • Manager’s responsibilities under this Agreement with respect to Construction, Reserve Fund Work, Capital Improvements and Restorations include general co-ordination of the Hotel Operation with professionals retained by Owner to handle all aspects of such work.

  • After giving effect to such proposed Borrowing, the Construction Reserve Account shall be funded in an amount greater than or equal to the Construction Reserve Required Amount.

  • During 2009-10 and 2012-13 ESIC transferred ` 5000 crore and ` 3000 crore respectively from ‘Surplus’ to ‘Capital Construction Reserve Fund’ (CRRF).

  • If, on March 1, 2007, the balance of the Construction Reserve Account is less than $150,000, the General Partner shall be obligated to make monthly deposits of $40,000 into the Construction Reserve Account until the balance of the Construction Reserve Account is no less than $150,000.

  • Approving a $22,493 Budget Appropriation from Measure H Fund Construction Reserve for the said project.

  • The insufficiency of any balance in the Construction Reserve Account shall not relieve Borrower from its obligation to perform the Construction Work in a good and workmanlike manner and in accordance with all Legal Requirements.

  • Each month during construction and prior to Permanent Mortgage Commencement, the Partnership shall deposit into the Construction Reserve Account, the Partnership shall deposit into the Construction Reserve Account all Cash Receipts remaining after the payment of Cash Expenses.

  • Lxxxxx’s right to withdraw and apply funds in the Construction Reserve Account shall be in addition to all other rights and remedies provided to Lender under this Agreement and the other Loan Documents.


More Definitions of Construction Reserve

Construction Reserve with respect to any Project Inventory Under -------------------- Construction, a reserve against borrowing availability hereunder, in an amount equal to the amount of any mechanics', materialmen's, or other artisan's liens which may at any time be outstanding against the applicable Project and as to which Borrowers have not satisfied the requirements of paragraph 6.1(e) hereof. ----------------
Sample 1
Construction Reserve means, at any time during which the ratio of Pro-forma Total Consolidated Liabilities to Pro-forma Gross Asset Value exceeds 0.55 to 1.0, the Dollar amount by which Pro-forma Total Consolidated Liabilities would have to be reduced in order that such ratio would not be exceeded.
Sample 1

Related to Construction Reserve

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Construction Zone shall have the meaning set forth in Clause 8.3 (i);

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Construction Work means any work in connection with⎯

  • Construction Costs means land costs, all costs paid to construct and complete the Improvements, as specified on Exhibit "B" attached hereto and made a part hereof.

  • construction site means a workplace where construction work is being performed;

  • 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.

  • Construction-in-Process means cash expenditures for land and improvements (including indirect costs internally allocated and development costs) determined in accordance with GAAP for all Properties that are under development or will commence development within twelve months from any date of determination.

  • Construction waste means solid waste which is produced or generated during construction, remodeling, or repair of pavements, houses, commercial buildings, and other structures. Construction wastes include, but are not limited to lumber, wire, sheetrock, broken brick, shingles, glass, pipes, concrete, paving materials, and metal and plastics if the metal or plastics are a part of the materials of construction or empty containers for such materials. Paints, coatings, solvents, asbestos, any liquid, compressed gases or semi-liquids and garbage are not construction wastes.

  • Constructional Plant means all appliances or things whatever nature required in or about the execution, completion or maintenance of the works or temporary works (as hereinafter defined) but does not include materials or other things intended to form or forming part of the permanent work or temporary housing, hutting, office, stores, etc.,

  • Construction in Progress means each Property that is either (a) new ground up construction or (b) under renovation in which (i) greater than thirty percent (30%) of the square footage of such Property is unavailable for occupancy due to renovation and (ii) no rents are being paid on such square footage. A Property will cease to be classified as “Construction in Progress” on the earlier to occur of (A) the time that such Property has an Occupancy Rate of greater than eighty percent (80%), or (B) one hundred eighty (180) days after completion of construction or renovation of such Property, as applicable.

  • Construction Contractor means a person who undertakes to or offers to undertake to, or purports to have the capacity to undertake to, or submits a bid to, or does himself or by or through others, construct, alter, repair, add to, subtract from, improve, move, wreck, or demolish any building, highway, road, railroad, excavation, or other structure, project, development, or improvement to real property, or to do any part thereof. "Construction contractor" includes subcontractors, specialty contractors, prime contractors, and any person receiving consideration for the general supervision and/or coordination of such a construction project except for remediation contracting. This definition shall govern without regard to whether or not the construction contractor is acting in fulfillment of a contract.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

  • Construction Contracts means the contracts between Lessee and Contractors for the furnishing of labor, services or materials to the Leased Premises in connection with the construction of the Improvements.

  • Construction Works means all works and things necessary to complete the Project in accordance with this Agreement;

  • Building construction means any physical activity on the site involved in the erection of a structure, cladding, external finish, formwork, fixture, fitting of service installation and the unloading of plant, machinery, materials or the like.

  • Construction Plans means plans, drawings, specifications and related documents, and construction schedules for the construction of the Project, together with all supplements, amendments or corrections, submitted by the Developer and approved by the City in accordance with this Agreement.

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

  • Restoration Retainage as used in this Subsection 7.4(b) shall mean an amount equal to 10% of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until such time as the Casualty Consultant certifies to Lender that Net Proceeds representing 50% of the required Restoration have been disbursed. There shall be no Restoration Retainage with respect to costs actually incurred by Borrower for work in place in completing the last 50% of the required Restoration. The Restoration Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Subsection 7.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Restoration Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Subsection 7.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Restoration Retainage, provided, however, that Lender will release the portion of the Restoration Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, and the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company insuring the lien of the Security Instrument. If required by Lender, the release of any such portion of the Restoration Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.