Financing for the Project. The Company is financing the development of the Project, in part, with the proceeds of the Bank Credit Facility, the FF&E Facility and the Second Mortgage Note. In addition to certain other collateral and security interests:
Financing for the Project. KEDB will obtain a loan from Xxxxxxx Credit Union which will be used to complete the Project (the "Project Loan"). The Project Loan will be in the principal amount not to exceed $800,000.00 with a loan term of 10-years from date of the Note based upon a 20-year amortization schedule, with a principal balance due at the end of the 10-year term at a taxable interest rate of 4.35% calculated on the basis of an actual/actual simple interest basis.
Financing for the Project. 8. ADB shall make payments to PIA in an aggregate amount not exceeding United States dollars (USD) 100,000 (the “Funds”) to carry out the Project. The Funds shall be remitted upon ADB’s satisfaction of completion of the milestones specified in accordance with the payment schedule in the Appendix to this Agreement.
Financing for the Project. Authority and Agency hereby approve Debt Lender to act as the lender of the First Mortgage – Construction Financing and First Mortgage – Permanent Financing for the Project, as those terms are defined in Section 1.1 of this Implementation Agreement. Further, Authority and Agency hereby approve Tax Credit Investor to act as the tax credit investor for the Project; provided that Tax Credit Investor contributes Tax Credit Equity to the Project in an amount of not less than $0.745 for each $1.00 of Tax Credits allocated to the Project, in accordance with the Partnership Agreement approved by Authority and Agency.
Financing for the Project. KEDB will be primarily responsible for all costs and financial liabilities associated with the Project and shall apply the entirety of all lease payments which it receives from the Property towards its lease payments for the Property.
Financing for the Project
