Borrower Loan Proceeds definition

Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with Section 2.10 of this Borrower Loan Agreement and the Construction Funding Agreement.
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Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with the Construction Funding Agreement, Section 2.11 of this Borrower Loan Agreement, and Section 7.7 of the Funding Loan Agreement.
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Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with the Construction Funding Agreement, Section 2.11 of this Borrower Loan Agreement, and Section 7.7 of the Funding Loan Agreement. Borrower Note” shall mean that certain Multifamily Note dated as of the Closing Date in the original maximum principal amount of $[ ] made by the Borrower and payableto the Governmental Lender, as endorsed and assigned to the Fiscal Agent, as it may be amended, supplemented or replaced from time to time.
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Examples of Borrower Loan Proceeds in a sentence

  • Upon receipt of a Draw Request to pay for Project Costs from the Borrower and the approval thereof by the Lender, the Lender shall disburse to, or for the account of, the Borrower, Loan Proceeds to pay Project Costs in accordance with the Draw Request.

  • Borrower shall diligently correct any defect in the Improvements or any departure from the Plans and Specifications not approved by Funding Lender; the advance of any Borrower Loan Proceeds shall not constitute a waiver of Funding Lender's right to require compliance with this covenant with respect to any such defects or departures from the Plans and Specifications.

  • Within ten (10) business days after delivery of such notice, but in no event later than the Outside Conversion Date (or, if applicable, the Extended Outside Conversion Date), the Funding Lender shall disburse Borrower Loan Proceeds to the Borrower so that the aggregate principal amount of the Borrower Loan disbursed equals the Permanent Period Amount.

  • The use of any Borrower's Funds or Borrower Loan Proceeds for any purpose other than payment of costs approved by Funding Lender pursuant to this Borrower Loan Agreement.

  • Funding Lender shall not be required to Disburse any Borrower Loan Proceeds at any time that Borrower has failed to deposit all Borrower's Funds required under Section 8.1. Any unexpended Borrower's Funds allocated to a line item in the Cost Breakdown shall be disbursed prior to any Disbursement for that line item.

  • The undisbursed Borrower Loan Proceeds, together with Borrower's Funds and all other sums, if any, to be provided by Borrower as shown in the Cost Breakdown, are sufficient to construct the Improvements in accordance with the terms and conditions of this Borrower Loan Agreement.

  • Any Borrower Loan Proceeds previously disbursed to the Borrower in excess of the Permanent Period Amount shall be paid by the Borrower to the Funding Lender.


More Definitions of Borrower Loan Proceeds

Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with Section 2.10 of this Borrower Loan Agreement, and the Construction Disbursement Agreement.
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Borrower Loan Proceeds means an amount not to exceed $[9,500,000] to be paid or provided by the Issuer to the Borrower as the Borrower Loan.
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Borrower Loan Proceeds means proceeds of the Borrower Loan, to be disbursed in accordance with Articles V and VI hereof.
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Related to Borrower Loan Proceeds

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to the Borrower Loan Agreement in the aggregate principal amount of the Borrower Loan Amount, as evidenced by the Borrower Notes.

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Borrower Loan Documents shall have the meaning given such term in the Borrower Loan Agreement.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Second Lien Loans means “Loans” under and as defined in the Second Lien Credit Agreement.

  • Term Loan Collateral means all assets, whether now owned or hereafter acquired by any Loan Party, in which a Lien is granted or purported to be granted to any Term Loan Secured Party as security for any Term Loan Obligation.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Letter of Credit Collateral Account has the meaning assigned to such term in Section 2.05(k).

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Borrower Collateral means all of Borrower’s now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.