Developer Equity definition

Developer Equity means the Developer’s equity contribution to the Project which shall be all amounts necessary to develop the Project other than the CRA Financing.
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Developer Equity means, as of the date hereof, the amount of $669,491.38, as such amount is increased, dollar for dollar, as a result of the application of principal payments to the Project Loan which reduce the principal balance of the Project Loan.
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Developer Equity means a portion of the developer's fees payable by a Lessor as set forth in each Construction Budget equal to 5% of the Total Property Costs (as defined in the Lease) for a particular Property or, if there is no Developer with respect to a Project Loan, the equity, in the amount of 5% of the total funds required by the Lessor on a Borrowing Date, contributed by the Lessor simultaneously with the funding of such Project Loan.
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Examples of Developer Equity in a sentence

  • If such evidence of Developer Equity is not acceptable to the CRA, in its sole and absolute discretion, the CRA shall have the right to terminate this Agreement by giving written notice to the Developer of such election to terminate.

  • Notwithstanding anything herein to the contrary, within thirty (30) days of the Effective Date, Developer shall provide the CRA with evidence of the Developer Equity in a form and substance acceptable to the CRA in all respects including, but not limited to, proof of funds.

  • Developer shall have obtained approval of all financing described in this Method of Financing, and the Mayor shall have approved evidence relating to the Construction Loan, Developer Equity, Gap Financing Sources, and a commitment for the Permanent Loan(s), and all documents required to be executed in connection with such financing shall have been duly executed, acknowledged and delivered.

  • Lender shall be satisfied that the Lessor shall have contributed on the relevant Borrowing Date an amount equal to the Developer Equity associated with such Project Loan Advance.

  • Developer Financing Proposed (Subject to change prior to closing) • Historic Tax Credits • Senior Loan • CRDA • Developer Equity • BSPRA (Deferred Developer Fees) Closing Contingencies • Receipt by Developer of all Permits and Approvals.


More Definitions of Developer Equity

Developer Equity equals Developer’s Cost minus the Approved First Trust Deed Loan Proceeds.
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Developer Equity means the amount of money initially contributed to the Project by Developer for paying Budgeted Improvement Costs as set forth in Subsection 2.1(b)(vii)(Z), but excluding:
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Developer Equity means all sources of funds used by Lessee to pay Development Costs except any loan secured by a Permitted Leasehold Mortgage (each, a “Permitted Leasehold Mortgage Loan”) or any other loan of funds secured by a deed of trust or other security interest in the Property.
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Developer Equity means the amount of equity capital contributions to be made by Developer to fund the Total Development Costs in the amount of $14,594,666 as set forth in the attached Sources and Uses Budget under the heading “Developer Funds” plus the amount of any additional Qualified Costs paid by the Developer in excess of the funding sources identified in the attached Sources and Uses Budget.
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Developer Equity means the Developer's equity contribution to each Project Phase, which, when combined with the amount of Developer Financing in place for each Project Phase, shall be an amount sufficient to develop the Project Phase and complete the Work (as hereinafter defined) for the Project Phase, all based on the approved Development Plan for each Project Phase. The Developer’s Equity shall be no less than ten percent (10%) of the amount necessary and sufficient to develop each Phase of the Project and complete the Work, based upon the approved development plan, construction plans and specifications, and approvals of all governmental jurisdictions for each Project Phase.
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Developer Equity shall have the meaning specified in Section 1.1 of each Project Loan Agreement.
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Developer Equity has the meaning provided in Section 6.1(b).
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