Credit Issuance definition

Credit Issuance means the making of an Advance or the issuance of a Letter of Credit.
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Credit Issuance means a term used to describe when the amount of an assessed development impact fee attributable to a particular development or parcel of land is reduced by applying a Credit allocation.
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Examples of Credit Issuance in a sentence

  • Credit Issuance and Refund Policy Pilot will issue any applicable account credits within 15 days of the SLA event.

  • This is typically the date of a Carryover Allocation, but if no Carryover Allocation is made, the date of Tax Credit Issuance will be used unless the owner designates a building’s placed-in-service date as the effective date for the gross rent floor.

  • The Tax Credit Issuance amount may be less than the amount reserved or allocated previously.Owners can submit a request for Tax Credit Issuance at any time during the year but in no event should a request for Tax Credit Issuance be submitted later than two (2) months after the last building in the development is placed in service.

  • For at least one (1) year after the last building is placed in service, monthly rents cannot exceed the MHDC- approved rents reflected in the Firm Commitment and as determined at Tax Credit Issuance (defined herein).

  • MHDC staff will issue Building Identification Number(s) in the 42(m) Letter.Developments receiving 4% Credits are required to follow the Tax Credit Issuance procedures described herein and to enter into a LIHTC LURA with regard to the development.V. COMPLIANCE MONITORINGSection 42(m)(1)(B)(iii) of the Code mandates that MHDC, as the State Housing Agency, monitor all placed in service tax credit developments for compliance with the provisions of the Code.

  • The owner must meet all Tax Credit Issuance requirements of the Carryover Allocation to receive the Tax Credit Issuance.

  • See Internal Revenue Notice 88-116 for more information about placed in service dates.MHDC will make the issuance of tax credits of Federal LIHTC and/or State LIHTC (“Tax Credit Issuance”) after MHDC approval of all Tax Credit Issuance requirements (which includes, but is not limited to, approval of the cost certification) and conversion or permanent closing has occurred, if applicable.

  • The Tax Credit Issuance amount is based on MHDC staff’s final determination of the qualified basis for the building(s) based on an accountant’s certification of final costs provided by the owner and a final determination of the Federal LIHTC and State LIHTC amounts.

  • Each Carryover Allocation will contain conditions precedent and deadlines which must be satisfied to secure a Tax Credit Issuance of Federal LIHTC, and State LIHTC, if applicable.

  • Credit Issuance: A term used to describe when the amount of an assessed development impact fee attributable to a particular development or parcel of land is reduced by applying a Credit allocation.

Related to Credit Issuance

  • Letter of Credit Issuer means such successor or such new issuer of Letters of Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(c) and 4.1(d). The acceptance of any appointment as a Letter of Credit Issuer hereunder whether as a successor issuer or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor issuer of Letters of Credit, in a form satisfactory to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such new or successor issuer of Letters of Credit shall become a “Letter of Credit Issuer” hereunder. After the resignation or replacement of a Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement as Letter of Credit Issuer, the provisions of this Agreement relating to a Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (A) while it was a Letter of Credit Issuer under this Agreement or (B) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

  • Issuing Lenders means all such Persons, collectively.

  • LC Issuing Bank means each Lender identified as an “LC Issuing Bank” on Schedule II and any other Lender or Affiliate of a Lender that shall agree to issue a Letter of Credit pursuant to Section 2.04.

  • Issuing Lender means, with respect to any Letter of Credit, the Lender which agrees or is otherwise obligated to issue such Letter of Credit, determined as provided in subsection 3.1B(ii).

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • Issuing Banks shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Swing Line Lenders means each of the Lenders that has a Swing Line Commitment on Schedule 2.1 hereto, or any successor swing line lender hereunder.

  • Administrative Agent means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.

  • Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder.

  • Swing Line Lender means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Revolving Administrative Agent means the “Administrative Agent” as defined in the Revolving Credit Facility.

  • Issuing Bank Fees shall have the meaning assigned to such term in Section 2.12(b).

  • Swing Line Bank has the meaning specified in the recital of parties to this Agreement.

  • Swingline Lenders means each of JPMCB, Bank of America, N.A., MUFG Bank, Ltd., Citibank, N.A., U.S. Bank National Association and each other Lender designated by the Company as a “Swingline Lender” hereunder that has agreed to such designation (and is reasonably acceptable to the Administrative Agent), each in its capacity as a lender of Swingline Loans hereunder.

  • Lenders means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.