Loan Subsidy Fund Sample Clauses

Loan Subsidy Fund. 41. The Bank will invest a minimum of $1.12 million in a special loan subsidy fund to be used during the term of this Agreed Order to increase the amount of credit that the Bank extends to residents in majority-Black census tracts in Indianapolis-Xxxxxx County for home mortgage loans, home improvement loans, and home refinances. No more than twenty-five percent of the special loan subsidy fund can be used for home refinances. The loan subsidy fund may be used for down payment assistance, closing cost assistance, mortgage insurance premiums, and any other appropriate assistance measures approved by the United States in writing.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Loan Subsidy Fund. 44. The Respondent will invest a minimum of $14,000,000 in a Loan Subsidy Fund (“Fund”) with the goal of increasing access to credit for home mortgage loans, home improvement loans, and home refinance loans in MBHACTs in the New Brunswick Lending Area. This Fund will be used solely to provide subsidies to consumers and will not be used for administrative costs of implementing the Fund. No more than twenty-five percent of the Fund may be used for home refinance loans.
Sample 1
Loan Subsidy Fund. 7. The Bank will invest a minimum of $1.1 million in a loan subsidy program to support residential mortgage loans to qualified applicants in majority-Black census tracts in Xxxxxx County, as described in Paragraph 8. The loan subsidy fund may be used for down payment assistance, closing cost assistance, mortgage insurance premiums, interest rate decreases, and any other appropriate assistance measures. No applicant may receive a total subsidy under this Agreement that is greater than $10,000 per loan.
Sample 1

Related to Loan Subsidy Fund

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • LOAN 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred million Dollars ($100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!