City Loan definition

City Loan has the meaning set forth in Paragraph D of the Recitals.

City Loan means the loan of funds from the City to the Borrower as provided in this City Loan Agreement and City Note.

City Loan has the meaning in Section 1.1(l)(ii).

Examples of City Loan in a sentence

• Commencing on May 15, 2025, and on May 15 of each year thereafter during the Term, Borrower shall make a loan payment to the City in an amount equal to the sum of (1) the City Loan Prorata Percentage of the Lenders' Share of Residual Receipts and (2) the result obtained by multiplying the City Additional Prorata Share by the Local Lenders' Share of Residual Receipts (each such payment, an "Annual City Loan Payment").

• If, as a result of having made the City Loan and the County Loan, the City and County are entitled to insurance or condemnation proceeds, they will share such proceeds as follows: (i) the City is entitled to the result obtained by multiplying the City Loan Prorata Percentage by the available proceeds, and (ii) the County is entitled to the result obtained by multiplying the County Loan Prorata Percentage by the available proceeds.

• If, as a result of having made the City Loan and the County Loan, either the City or the County is entitled to title to the Property as a consequence of Xxxxxxxx's default, then title is to be held in tenancy in common by the City and the County in accordance with their respective prorata share of the Foreclosure Net Proceeds.

• After such payments (i) the City is entitled to the result obtained by multiplying the City Loan Prorata Percentage by the Foreclosure Net Proceeds, and (ii) the County is entitled to the result obtained by multiplying the County Loan Prorata Percentage by the Foreclosure Net Proceeds.

• The City shall apply all Annual City Loan Payments to the City Loan as follows: (1) first, to accrued interest, if any, and (2) second, to principal for the City Loan.

More Definitions of City Loan

City Loan means the loan by the City to Developer of Affordable Housing Bond Proceeds in a principal amount not to exceed SEVENTEEN MILLION ONE HUNDRED SIXTY THOUSAND DOLLARS ($17,160,000), as described in the Method of Financing (Attachment No. 3). The City Loan shall be evidenced by the City Loan Note (Attachment Nos. 8B and 8C) and secured by the City Deed of Trust (Attachment Nos. 9A and 9B), and other City Loan Documents.

City Loan shall have the meaning ascribed thereto in the seventh recital to this Loan Agreement.

City Loan means the total amount of Municipal Funds, if applicable, advanced to the Proponent, in accordance with the Funding Schedule;

City Loan means each loan made by the City to the Developer Members and the City Defeasance Trust, as co-borrowers, in connection with the Non-Public Costs for a Developer Improvement, the terms of which are to be documented as provided for in ARTICLE X hereof.

City Loan means loan(s) from the City of San Xxxx to Lessee.

City Loan means the loan in the approximate amount of Five Million Fifty-Six Thousand and Ninety-Four Dollars ($5,056,094) made from City to the Lessee pursuant to the Disposition Agreement.

City Loan means the $600,000 subordinate loan made by the Vallejo Housing Authority to the Borrower to finance a portion of the costs of the Project.