Authority Bridge Loan definition

Authority Bridge Loan means the loan to the Borrower pursuant to the Loan Agreement (as defined herein) in the maximum original amount of Four Million Four Hundred
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Authority Bridge Loan means the loan to the Borrower pursuant to this Agreement in the maximum original principal amount of Four Million Fifty Thousand Dollars ($4,050,000.00) [which may increase to a maximum principal amount of Four Million Three Hundred Thousand Dollars ($4,300,000.00) pursuant to the Authority Bridge Note and B-Permit Note], advanced for the purpose of bridging construction financing to Borrower between Closing and Borrower’s anticipated closing on the AHP Loan and, to the extent necessary, and filling any gap between the other sources of Approved Financing and actual uses, up to the amount set forth in the Approved Development Budget.
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Examples of Authority Bridge Loan in a sentence

  • All principal and accrued interest on the Authority Conversion Loan shall be due in full on the earlier to occur of (i) the date of closing of the AHP Loan, but only to the extent proceeds of the AHP Loan are available after repayment of the Authority Bridge Loan pursuant to Section 2.4(b), (ii) the date of any Transfer not authorized by the Authority, (iii) the date of any Default, and (iv) the expiration of the Term.

  • All principal and accrued interest on the Authority Bridge Loan shall be due in full on the earlier to occur of (A) the date of closing of the AHP Loan, but only to the extent proceeds of the AHP Loan are available for repayment of the Authority Bridge Loan pursuant to Section 2.4(b), (B) the date of any Transfer not authorized by the Authority, (C) the date of any Default, and (D) the expiration of the Term.

  • Their cases should be reviewed to prevent further harassment.• Senior government officials should, stop threatening human rights defenders and instead publicly condemn instances of harassment and intimidation of civil society activists and organisations.

  • Furthermore, in the event Borrower is awarded the AHP Loan prior to drawing on the Authority Bridge Loan then subject to the last sentence 2.4(c)(1) above, such AHP Loan proceeds shall be drawn before the Authority Bridge Loan.

  • Following completion of the Project, any remaining construction cost savings shall be used (i) first, to repay the Authority Bridge Loan and (ii) second, to repay the Authority CNI Loan (the “Priority Payment on HACLA Loans”).

  • The Borrower may use such proceeds for other purposes only after the Authority Bridge Loan and CNI Loan has been paid in full.

  • The Authority Bridge Loan shall mature on the date of closing of the AHP Loan (if obtained) or, if the AHP Loan is not obtained and/or the proceeds of the AHP Loan are insufficient to repay the entire Authority Bridge Loan, on the Loan Maturity Date.

  • Borrower shall ensure that any AHP Loan application includes provisions that allow any amount awarded to the repayment of the Authority Bridge Loan.

  • The maximum amount of funds to be disbursed pursuant to this Section 2.7 shall not exceed, (i) in the case of the Authority CNI Loan, [Two Million Eight Hundred Fifty Thousand Dollars ($2,850,000.00), (ii) in the case of the Authority IIG Loan, Five Million Twenty Five Thousand Dollars ($5,025,000.00), and (iii) in the case of the Authority Bridge Loan, One Million Four Hundred Forty-Five Thousand Dollars ($1,445,000.00)].

  • In the event that the Parties hereto determine that the AHP Loan is necessary to meet Project development and operational costs, then notwithstanding anything to the contrary in the Loan Documents, Ground Lease, or any other document between the Authority and the Borrower or its affiliates, the Borrower may use the AHP Loan to pay for costs approved by the Authority in its reasonable discretion in place of repaying or reducing the amount owed under the Authority Bridge Loan.

Related to Authority Bridge Loan

  • Mortgage Loan Borrower Related Party shall have the meaning assigned to such term in Section 13.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Funding Bank shall have the meaning given to such term in Section 3.3 hereof.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Governmental Lender means the City of Los Angeles, a municipal corporation and charter city of the State of California and any successor under this Funding Loan Agreement and the Funding Loan Documents.

  • PPP Lender means JPMorgan Chase Bank, N.A.

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.

  • Term SOFR Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Cov-Lite Loan A Collateral Obligation the Underlying Documents for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Documents); provided that, notwithstanding the foregoing, a Collateral Obligation shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Obligation) not to be a Cov-Lite Loan if the Underlying Documents for such Collateral Obligation contain a cross-default or cross acceleration provision to, or such Collateral Obligation is pari passu with, another loan, debt obligation or credit facility of the underlying Obligor that contains one or more Maintenance Covenants.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Tax Lender has the meaning specified therefor in Section 14.2(a) of the Agreement.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • VA Approved Lender means a lender which is approved by the VA to act as a lender in connection with the origination of VA Loans.

  • Originating Lender has the meaning specified therefor in Section 13.1(e) of the Agreement.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Lead Lender means a lending insti- tution having a direct contractual rela- tionship with a borrower to advance funds, which institution sells or as- signs an interest or interests in such loan to one or more other lenders.

  • Initial Loan is defined in Section 2.1.

  • Initial Lender has the meaning specified in the recital of parties to this Agreement.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Borrower Related Party As defined in Section 3.33 of this Agreement.

  • Wet Loan means a Purchased Loan originated and owned by the Seller immediately prior to being purchased by the Buyers:

  • Commercial loan means a loan that is not made primarily for