Initial Construction Disbursement definition

Initial Construction Disbursement means the Disbursement to be made upon the fulfillment of the conditions set forth in Section 6.5.
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Initial Construction Disbursement means the first Construction Disbursement to be made by Lenders to Borrower pursuant to the C/T Loan.
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Initial Construction Disbursement means the initial disbursement by Lender for payment of Construction Costs, to be made upon the fulfillment of the conditions set forth in Section 8.5.
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Examples of Initial Construction Disbursement in a sentence

  • A Major Subcontractor Agreement and Major Subcontractor Consent for each Assigned Major Subcontract which has been executed as of the Initial Construction Disbursement Date.

  • As a condition precedent to the Initial Construction Disbursement, Borrower shall furnish to Lender a complete construction schedule and a current trade cost breakdown, itemized as to trade items, trade descriptions.

  • On or prior to the Initial Construction Disbursement, Borrower will have delivered to Lender the Construction and Development Documents and the Project Covenant Documents.

  • No event or condition exists or will exist after giving effect to the Closing of the Loan, the Initial Construction Disbursement or Subsequent Disbursements which constitutes an Event of Default or Potential Default.

  • As additional security for the timely completion of the Expansion Project and the due and punctual payment and performance of the Credit Facility and each of the terms, covenants, representations, warranties and provisions herein contained and contained in each of the Loan Documents: (a) on or before the Closing Date each of the Guarantors shall execute the Continuing Guaranty, and (b) on or before the Initial Construction Disbursement Date each of the Guarantors shall execute the Completion Guaranty.

  • No event or condition exists or will exist after giving effect to the closing of the Loan, Initial Construction Disbursement or Subsequent Disbursements which constitutes an Event of Default or Potential Default.

  • On and after the Initial Construction Disbursement Date, the Construction Projects will be carried out and undertaken by in compliance in all material respects with all applicable zoning, environmental protection, use and building codes, laws, rules, regulations and ordinances, including, without limitation, the Americans with Disabilities Act.

  • The copies of each of the General Contractor Agreements and the Architect's Contract relating to the Construction Projects to be delivered to Agent Bank on or before the Initial Construction Disbursement Date shall be a true, correct and complete copy of the respective original thereof as in effect on the date thereof, and no amendments or modifications of any of said documents or instruments not included in such copies shall have been made.

  • The General Contractor Budgets and the Borrower Construction Budget shall set forth all Construction Completion Costs as of the Initial Construction Disbursement Date.

  • A master set of the final Structural Plans and Specifications shall be furnished to Agent Bank and Lenders' Consultant at least ten (10) Banking Business Days prior to the Initial Construction Disbursement and shall be held by Agent Bank throughout the term of the Credit Facility, and said set of Structural Plans and Specifications shall govern all matters that may arise with respect to the construction and completion of the structural and exterior components of the ACLVI Project.