Initial Construction Advance definition

Initial Construction Advance means any initial Advance to pay for: (a) Property Costs for construction of any Improvements; and (b) the Property Costs of restoring or repairing any Property which is required to be restored or repaired in accordance with Section 15.1(e) of the Lease.
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Initial Construction Advance has the meaning given to such term in Section 4.02 hereof.
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Initial Construction Advance means any initial Advance under a Project Loan Agreement to pay for: (i) Project Costs for construction or demolition of the Improvements on any Property; (ii) the Project Costs of restoring or repairing any Property which is required to be restored or repaired in accordance with Section 11.1 of each Lease; and (iii) the costs of any Modifications in accordance with Section 12.1 of each Lease.
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Examples of Initial Construction Advance in a sentence

  • In addition to the conditions set forth in Section 4.1 (Conditions Precedent to Initial Construction Advance) and Section 4.2 (Conditions Precedent to Subsequent Construction Advance), Lender’s obligation to make the final construction advance of retained Loan funds shall be subject to the satisfaction of the following conditions precedent.

  • The Construction Agent shall have delivered to the Agent copies of the Plans and Specifications for the Improvements regarding each Property within sixty (60) days after the Acquisition Advance for such Property (and in any event prior to the Initial Construction Advance for such Property).

  • Prior to the Initial Construction Advance, it will have good and marketable title to all of the real property comprising the Premises, subject to the Permitted Encumbrances.

  • The Lender shall have received title continuation report of the title policy to the dates of the Refinance Advance and the Initial Construction Advance in a form approved by the Lender and the Lender’s counsel containing a pending disbursements provision and setting forth no additional exceptions except those approved in writing by the Lender and its counsel.

  • If the Initial Construction Advance shall consist of advances for Direct Costs (in addition to Indirect Costs) or be solely for Direct Costs, or if Direct Costs shall have theretofore been incurred even though not included within the Initial Advance, the Construction Consultant shall have received and approved copies of (l) the Requisition, (2) the Construction Contract, and (3) all Change Orders which are in effect as of the date of such Requisition.

  • If scissors are several Partners with such deficits and the total box is less than in aggregate deficits, such gains shall be allocated in proportion to, truth not in excess of, such respective deficits.

  • The Lender shall have received a Requisition for the Initial Construction Advance.

  • From and after the Initial Construction Advance, Advances may be requested in the amount of the “overbudgeted” portion of any line item in the NYTC Units Budget pursuant to clause (A), (B) or (C) of the first sentence of Section 7.11(d) (and the proceeds of all such Advances shall be disbursed to NYTC Member or its designee) subject, however, to fulfillment of all conditions precedent to the making of an Advance and Section 7.35(b) hereof.

  • During Sudan’s civil war, the government in Khartoum accused Israel of assisting the Sudan People’s Liberation Army (SPLA) and armed forces in the south of the country and of interfering in Sudanese affairs.Sudan does not recognise the state of Israel and Israeli citizens are barred from entering Sudan.

  • Upon the Date of Each Construction Advance That Is Not An Initial Construction Advance.


More Definitions of Initial Construction Advance

Initial Construction Advance means the first Construction Advance to be made hereunder, which may be contemporaneous with or subsequent to the time of the execution and delivery by the Borrower and the Lender of this Agreement.
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Initial Construction Advance has the meaning specified in Section 6.4 of the Participation Agreement.
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Related to Initial Construction Advance

  • Original construction ’ shall mean the first or initial construction

  • Residential construction means construction on single-family or two-family dwellings occupied or used, or intended to be occupied or used, primarily for residential purposes, and includes real property pursuant to chapter 499B.

  • 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

  • New construction means, for the purposes of determining insurance rates, structures for which the "start of construction" commenced on or after the effective date of an initial FIRM or after December 31, 1974, whichever is later, and includes any subsequent improvements to such structures. For floodplain management purposes, "new construction" means structures for which the "start of construction" commenced on or after the effective date of the floodplain management regulations adopted by a community and includes any subsequent improvements to such structures.

  • 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.

  • Project Preparation Advance means the project preparation advance granted by the Association to the Borrower pursuant to an exchange of letters dated April 28, 1994 and May 21, 1994 between the Borrower and the Association;

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

  • The constructional plant means all appliances, tools, plants or machinery or whatsoever nature required in or about the execution, completion or maintenance of the works but does not include materials or other things intended to form part of the permanent work.

  • 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.

  • Acquisition and Construction Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

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

  • Direct Construction Cost means the sum of the amounts that the Construction Manager actually and necessarily incurs for General Conditions Costs, Cost of the Work and Construction Manager’s Contingency during the Construction Phase as allowed by this Agreement. Direct Construction Cost does not include Pre-Construction Phase Fees or Construction Phase Fees.

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Initial Advance means the first Advance made pursuant to Article II.

  • Cost of Construction means the total cost to Owner of those portions of the entire Project designed or specified by the Design Professional. Cost of Construction does not include the Design Professional's compensation and expenses and Owner's expenses associated with the Project or the cost of other services to be provided by others to the Owner.

  • Existing construction means any structure for which the "start of construction" commenced before the effective date of the initial floodplain management code or ordinance adopted by the community as a basis for that community's participation in the NFIP.

  • Construction and Demolition Debris means and includes:

  • Completion of Construction means all the construction is complete except for minor weather-related components and conforms to the approved plans and specifications and change orders.

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

  • ‘Preparation Advance’ means the advance referred to in the Financing Agreement and repayable in accordance with Section 2.07.”

  • Commence Construction means that an owner or operator has either undertaken a continuous program of construction or has entered into a contractual obligation to undertake and complete, within a reasonable time, a continuous program of construction.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the Project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) the following financial commitments have been made: (i) (A) an engineering, procurement, and construction contract (“EPC”) has been executed by all parties and is effective; or (B) contracts (collectively, “EPC Equivalents”) for all of the following have been executed by all parties and is effective: (1) project engineering, (2) procurement of all major equipment, and (3) construction of the Project, and (ii) the cumulative payments made by the Developer under the EPC or EPC Equivalents to the counterparties to those respective agreements is equal to at least thirty (30) percent of the total costs of the EPC or EPC Equivalents.

  • Commencement of Construction means the commencement of construction of foundation components or elements (such as footings, rafts or piles) for the home.

  • Begin actual construction means, in general, initiation of physical on-site construction activities on an emissions unit which are of a permanent nature. Such activities include, but are not limited to, installation of building supports and foundations, laying of underground pipework, and construction of permanent storage structures. With respect to a change in method of operation, this term refers to those on-site activities, other than preparatory activities, which mark the initiation of the change.

  • 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.