Initial Construction Budget means, with respect to each Farm Project, the initial Construction Budget delivered to the Lender in respect of such Farm Project, in each case in form and substance satisfactory to the Lender in its reasonable discretion.
Initial Construction Budget means the construction budget attached to the CTA as the Appendix 16 Initial Construction Budget) to the CTA.
Initial Construction Budget means, for each Initial Construction Contract, the detailed line item budget in a form and in such detail as Lender approves attached hereto as Schedule 1.1(E) setting forth the schedule of values for such Initial Construction Contract all costs to be incurred in connection with the Completion of Initial Construction Work included in such contract, which budget has been approved by Lender.
Examples of Initial Construction Budget in a sentence
On or prior to the execution of this Agreement, the Partnership shall have delivered to the Collateral Trustee and each Applicable Agent a copy of the Initial Construction Budget substantially in the form previously approved by the Bank Senior Lenders Administrative Agent.
There are no fees, taxes, charges or other sums payable to any Governmental Authority with respect to the filing and recordation described in this clause (dd) or the enforcement of any rights or remedies under the documents referred to above, except for customary recording fees and those fees which the Lessee has described in the Initial Construction Budget.
Initial Construction Budget has the meaning specified in Article 17.4.2.
Each of the Initial Construction Budget, the Construction Budget and the Operating Budget shall be referred to herein as a “Budget”.
No sales, use, excise, transfer or other Tax, fee or imposition shall result from the (i) execution and delivery of the Ground Lease, the Lease or the conveyance of the interests conveyed thereby, or (ii) the construction of the Property, except such Taxes, fees or impositions that will have been paid in full on or prior to the Completion Date and which are described or provided for in the Initial Construction Budget.
More Definitions of Initial Construction Budget
Initial Construction Budget has the meaning set forth in Section 4.8(a).
Initial Construction Budget means the construction budget delivered by the Borrower and approved by the Senior Agent pursuant to Schedule 2 (Initial Conditions Precedent) of this Agreement, itemising on a monthly basis for the period from the Signature Date until the Construction Completion Date the following items expected to be incurred or received in that period: (a) Capital Costs expected to be incurred; and (b) Gross Revenues (other than Gross Revenues included in the Energy Center Budget), proceeds of Loans and any other amounts expected to be received.
Initial Construction Budget is defined in Section 6.1(k) of the Participation Agreement.
Initial Construction Budget means the Borrower’s construction plan, dated November 2005, as based upon the Development Plan and outlining the Borrower’s quantitative monthly projections (costs and timing associated with specific activities or equipment) and supporting qualitative information, for the construction of the Project through Completion.
Initial Construction Budget means the Construction Budget most recently prepared and delivered to the Collateral Trustee on behalf of the Secured Parties on or prior to the date hereof and set forth as Appendix K.
Initial Construction Budget means, with respect to each Farm Project, the initial Construction Budget delivered to the Lender in respect of such Farm Project, in each case in form and substance satisfactory to the Lender in its reasonable discretion. “Interest Period” means, with respect to any Term Loan, the period commencing on the last Business Day of a calendar quarter and ending on the last day of the immediately succeeding calendar quarter; provided that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar quarter, in which case such Interest Period shall end on the next preceding Business Day, and (ii) no Interest Period shall extend beyond the Maturity Date. Notwithstanding the foregoing or anything herein to the contrary, however, (A) the initial Interest Period with respect to any Term Loan (other than a Term Loan made on the last Business Day of a calendar quarter) shall be the period commencing on the date on which such Term Loan is made and ending on the last Business Day of the calendar quarter in which such Term Loan is made. “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution to, guaranty or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor incurs Indebtedness of the type referred to in clause (k) of the definition of “Indebtedness” in respect of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment but giving effect to any returns or
Initial Construction Budget means, with respect to each Farm Project, the initial Construction Budget delivered to the Lender in respect of such Farm Project, in each case in form and substance satisfactory to the Lender in its reasonable discretion. “Interest Reserve Account” means a deposit account established by the Company with a financial institution acceptable to the Lender and containing such minimum funds as required under Section 5.17. “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution to, guaranty or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor incurs Indebtedness of the type referred to in clause (k) of the definition of “Indebtedness” in respect of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment but giving effect to any returns or distributions of capital or repayment of principal actually received in cash by such Person with respect thereto. “IRA Shortfall” has the meaning specified in Section 5.17(b).