Examples of Forward Commitment Maturity Date in a sentence
If the Forward Commitment Maturity Date is extended by Xxxxxxx Xxx in accordance with the Xxxxxxx Xxx Commitment and the Construction Phase Financing Agreement, the first principal payment date under the Funding Loan Amortization Schedule shall automatically be extended to the first day of the month immediately succeeding the Conversion Date (with the succeeding principal installments remaining consistent with the original schedule but for them occurring on later dates).
If the Conditions to Conversion are not satisfied on or before the Forward Commitment Maturity Date, the Loan will not convert from the Construction Phase to the Permanent Phase, and neither the Xxxxxxx Xxx Seller/Servicer nor Xxxxxxx Xxx will have any obligation with respect to the purchase of the Governmental Note.
The unpaid principal balance of the Governmental Note shall be paid on the dates and in the amounts set forth on the initial Funding Loan Amortization Schedule provided on the Closing Date and attached as Schedule 1 to the Governmental Note (the “Funding Loan Amortization Schedule”) if the Conversion Date occurs on or prior to the initial Forward Commitment Maturity Date.