Examples of Tranche A Construction Loans in a sentence
Notwithstanding anything to the contrary contained herein, in no event shall any Loans made pursuant to this Section 2.22 shall (i) cause the amount of Tranche A Construction Loans or Tranche B Construction Loans disbursed by any Lender to exceed such Lender’s Tranche A Construction Loan Commitment or Tranche B Construction Loan Commitment, as applicable or (ii) cause the amount of Total Funded Construction Loans to exceed the Total Construction Commitment.
All Loans and LC Loans shall be made on a pro rata basis by the applicable Lenders in accordance with their respective Proportionate Share (Commitment) of such Loans and LC Loans, with the Term Loan by each Tranche A Lender equal to such Lender’s Proportionate Share (Loans) of the Tranche A Construction Loans converted to Term Loans.
Each Tranche A Lender shall make its Term Loan by converting to a Term Loan the unpaid principal amount of its Tranche A Construction Loans then outstanding as of the Term Conversion Date together with all accrued and unpaid interest, fees and costs and other amounts payable under the Credit Documents with respect thereto, in an amount not in excess of its Term Loan Commitment.
Borrower shall have drawn Tranche A Construction Loans in an aggregate amount equal to the Total Tranche A Construction Loan Commitment (or is contemporaneously making a draw of Tranche A Construction Loans that will cause the aggregate amount of such Loans then drawn to equal the Total Tranche A Construction Loan Commitment).
The aggregate amount of any prepayment to be applied to the Loans shall be applied first to prepay, pro rata, (x) the Tranche A Construction Loans or the Term Loans then outstanding and (y) the Tranche C Loans and second, to prepay the Tranche B Construction Loans.
Notwithstanding anything in this Agreement to the contrary, at all times until the final Tranche A Application for Borrowing is made, the sum of (a) Unadvanced Tranche A Construction Loans plus (b) the excess of (i) the Tranche A Institutional Construction Loan Commitment over (ii) the Tranche A Institutional Construction Loans made hereunder (without taking into account any prepayment thereof) shall equal no less than $8,000,000.
The aggregate amount of Tranche A Construction Loans outstanding at any point in time shall not exceed the Total Tranche A Construction Loan Commitment.
Before any GenHoldings Lender with Non-Ratable Loan Commitments makes any Tranche A Construction Loans under such Non-Ratable Loan Commitments, all Tranche A Lenders shall have fully funded their Proportionate Share of the Total Construction Loan Commitment.