Development Cash Flow means, with respect to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a Multifamily Mortgage Revenue Bond (MMRB) Loan (as defined in rule Chapter 67-21, F.A.C.), cash transactions of the Development as calculated in the statement of cash flows prepared in accordance with generally accepted accounting principles (“GAAP”), as adjusted for any cash transactions that are subordinate to the SAIL loan interest payment including any distribution or payment to the Applicant or Developer, Principal(s) of the Applicant or Developer or any Affiliate of the Principal(s) of the Applicant or Developer, or to the Developer or any Affiliate of the Developer, whether paid directly or indirectly, which was not expressly disclosed in determining the annual debt service coverage in the Board approved final credit underwriting report.

Development Cash Flow means, with respect to SAIL Developments, cash flow of a SAIL Development as calculated in the statement of cash flows prepared in accordance with generally accepted accounting principles (“GAAP”) and as adjusted for items including any distribution or payment to the Principal(s) or any Affiliate of the Principal(s) or to the Developer or any Affiliate of the Developer, whether paid directly or indirectly, which was not expressly disclosed in determining debt service coverage in the Board approved final credit underwriting report.

Examples of Development Cash Flow in a sentence

Any payments of accrued and unpaid interest due annually on SAIL loans shall be deferred to the extent that Development Cash Flow is insufficient to make said payments pursuant to the payment priority schedule established in this rule chapter.
If Development Cash Flow is under-reported and such report causes a deferral of SAIL interest, such under-reporting shall constitute an event of default on the SAIL loan.
If the Applicant has not submitted the required audited financial statements, the Corporation servicer shall deem the Development Cash Flow sufficient and issue a billing for interest due on the SAIL loan for the Applicant’s immediately preceding fiscal year by 212 Calendar Days after the Applicant’s fiscal year end.
The determination of lien position, determination of Development Cash Flow, determination of payment priorities, and payment of interest on SAIL loans shall occur annually.
The determination of Development Cash Flow, determination of payment priorities, and payment of interest on HOME loans shall occur annually.

More Definitions of Development Cash Flow

Development Cash Flow means, with respect to SAIL Developments as well as HOME

Development Cash Flow means, with respect to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially

Development Cash Flow means, with respect to SAIL Developments, cash flow of a SAIL Development as calculated in the statement of cash flows prepared in accordance with generally accepted accounting principles (“GAAP”) and as adjusted for items including any distribution or payment to the Applicant or Developer, Principal(s) of the Applicant or Developer or any Affiliate of the Principal(s) of the

Development Cash Flow means cash flow as calculated in the statement of

Development Cash Flow means cash flow of the Development as calculated in the statement of cash flows prepared in accordance with generally accepted accounting principles and as adjusted for items including any distribution or payment to the Borrower or Developer, Principal(s) of the Borrower or Developer, or any Affiliate of the Principal(s) of the Borrower or Developer, or to the Developer or any Affiliate of the Developer, whether paid directly or indirectly, which was not expressly disclosed in determining debt service coverage in the Credit Underwriting Report dated November 20, 2009.

Development Cash Flow means the projected cash flow produced by Xxx Xxxxxx XxXxxxxx Limited under the supervision of the Cost Consultant in relation to the development of the PSDF Site and addressed to Pinewood Studios Limited as updated from time to time.