Condo Loan definition

Condo Loan means a Mortgage Loan that (i) does not conform to the requirements of an Agency for securitization or cash purchase, (2) conforms to the requirements of the EverBank Preferred Correspondent guidelines for the purchase of a condominium loan that is not eligible for securitization or cash purchase by an Agency, and (3) is subject to a Takeout Commitment by Buyer.
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Condo Loan means the mortgage loan in the original principal amount of $213,300 made available to the Borrower by Landmark Savings Bank, FSB, a federal savings bank, on or about May 1, 2003, of which $206,055.00, is outstanding on the date hereof.
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Condo Loan means that certain loan in the amount of $29,078,500.00 from the Company to Xxxxx Investor.
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Examples of Condo Loan in a sentence

  • In 2015, TAF advanced $750,000 as a "Green Condo Loan" to Cathedral Hill (Windmill Developments) in care of OCLCC No. 973 for a highly energy-efficient condominium project called Cathedral Hill in Ottawa.

  • Tim Stoate briefed the Committee on the interest rate clause in the Windmill Green Condo Loan agreement.

  • In September 2015, TAF advanced $750,000 as a "Green Condo Loan" to Cathedral Hill (Windmill Developments) in care of OCLCC No. 973 for a highly energy-efficient condominium project called Cathedral Hill in Ottawa.

  • This "Green Condo Loan" is secured by a general security agreement and matures in September 2026.

  • In September 2015 TAF advanced $750,000 as a "Green Condo Loan" to Windmill Developments for a highly energy-efficient condominium project called Cathedral Hill in Ottawa.

  • The 000 Xxxx 00xx Xxxxxx Retail Condo Mortgage Loan is part of 000 Xxxx 00xx Xxxxxx Retail Condo Loan Combination, which is collectively evidenced by nine pari passu notes.

  • The final $1 million of the above financing will be advanced only if TAF finds “take out” financing from a 3rd party.• YMCA of Greater Toronto - potential $250,000 ESPA financing to install electricity optimization equipment in five YMCA buildings.• Windmill Development Group - potential $750,000 financing structured as a Green Condo Loan for condominium development in Ottawa.• Ajax Municipal Housing Corporation - potential ESPA financing up to $737,000 for the retrofit of three high-rise buildings.

  • International Condo Loan Schemes for Thailand Around the middle of 2005, Thailand saw the emergence of a new financing service offered by Bangkok Bank’s Singapore branch.

  • This "Green Condo Loan" is repayable in blended monthly installments of $3,321, maturing September 2026.

  • The Committee considered the transaction to provide up to $750,000 in financing, structured as a Green Condo Loan, to Windmill Development Group for their Ottawa condominium development, Cathedral Hill.

Related to Condo Loan

  • 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”.

  • Existing Loan means the loan identified on Exhibit H.

  • 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.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Mezzanine Loan means a mezzanine loan secured by equity interests in the Mortgage Loan Borrower.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

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

  • Future Advance means an Advance made after the Initial Closing Date.

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

  • Mezzanine Loans means, individually or collectively, as the context may require, the First Mezzanine Loan and the Second Mezzanine Loan, and each of the First Mezzanine Loan and/or the Second Mezzanine Loan, individually, a “Mezzanine Loan”.

  • Loan Advance The meaning specified in Section 2.2(a).

  • New Loan means a Loan made by the Failed Bank after the Bid Valuation Date that is not a continuation, amendment, modification, renewal, extension, refinancing, restructuring or refunding of or for any then-existing Loan.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Jumbo Loan means a Mortgage Loan (other than a Conforming Loan) that (1) is underwritten by an Approved Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), (2) matches all applicable requirements for purchase under the requirements of a Take-Out Commitment issued for the purchase of such Mortgage Loan, (3) differs from a Conforming Loan solely because the principal amount of such Mortgage Loan exceeds the limit set for Conforming Loans by Xxxxxx Xxx or Xxxxxxx Mac from time to time, and (4) is a First Lien Mortgage Loan.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • 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.

  • Real Estate Loan means any debt obligation that is (a) directly or indirectly secured by a mortgage, deed of trust or similar Lien on commercial real estate, residential real estate, office, retail or industrial property or undeveloped land, is underwritten as a mortgage loan and is not otherwise associated with an operating business or (b) a loan to a company engaged primarily in acquiring and developing undeveloped land (whether or not such loan is secured by real estate).

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • 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;

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

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

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • 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.

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.