HUD Financing definition

HUD Financing means Indebtedness of HUD Financing Subsidiaries that is insured by the Federal Housing Administration, an organizational unit of the United States Department of Housing and Urban Development.

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HUD Financing means an Indebtedness of a Propco Borrower or Propco Borrowers that is insured by HUD under one of its programs for HUD insured loans for long term care facilities, including a HUD insured loan under Section 223(f) for senior housing facilities and Section 232 for nursing home and assisted living facilities of the National Housing Act, and any refinancing, refunding, extension or renewal thereof, and which Indebtedness is to be secured by the assets and properties owned or held by such Propco Borrower or Propco Borrowers, including the Facility or Facilities owned and operated by such Propco Borrower or Propco Borrowers.

HUD Financing shall have the meaning given to it in the Term Loan Agreement.

Examples of HUD Financing in a sentence

• Notwithstanding the foregoing, any Guarantor may transfer real property that is the subject of a HUD Financing to a HUD Financing Subsidiary in connection with a HUD Financing permitted to be incurred pursuant to Section 4.09 hereof.

• As used in this Section, “Net cash proceeds” shall mean the cash proceeds of the HUD Financing net of all taxes and customary and reasonable fees, commissions, costs and other expenses actually incurred in connection therewith.

• The parties hereto acknowledge and agree that any disclosure in the HUD Estoppel Certificate of the existence of any default under the HUD Financing Documents shall not constitute a basis for the Purchaser to object to the HUD Estoppel Certificate unless any such default under the HUD Estoppel Certificate is not cured or waived in writing on or prior to the Closing Date.

• To the best of the Meditrust Parties' knowledge, except as disclosed on EXHIBIT SS attached hereto, there is no default by the HUD Mortgagee now existing under the HUD Financing Documents, nor have any notices of default been sent to the HUD Mortgagee by Meditrust-Bedford nor received from the HUD Mortgagee by Meditrust-Bedford relating to any default under the HUD Financing Documents which, as of the date hereof, remains uncured or has not been waived in writing.

• Upon request by the Payee, Maker shall provide Payee with copies of all correspondence, written communications and draft documents delivered to Maker, HUD, the City and/or any lender proposing to provide the Alternative Financing by one another relating to, or involving the HUD Financing.

More Definitions of HUD Financing

HUD Financing means mortgage Indebtedness (i) guaranteed by the United States Department of Housing and Urban Development (such Indebtedness, a “Final HUD Financing”) or (ii) which is a bridge loan made in anticipation of incurring a Final HUD Financing (such Indebtedness, a “Bridge HUD Financing”), in each case incurred by a HUD Subsidiary or group of HUD Subsidiaries that is not guaranteed by (other than customary non-recourse guarantees) or otherwise recourse to, Company or any Subsidiary (or any of their respective assets) other than one or more HUD Subsidiaries and HUD Facilities. For purposes of subsection 7.3(xii), the amount of a Final HUD Financing that refinances a Bridge HUD Financing shall be the excess of principal amount, if any, of the Final HUD Financing over the principal amount of the Bridge HUD Financing.

HUD Financing means the ▇▇▇ ▇▇▇▇▇ and the HUD Loan.

HUD Financing means financing provided by or insured by the United State Department of Housing and Urban Development.

HUD Financing items 18 through 22 on Schedule 7.2(d).

HUD Financing means Indebtedness of HUD Financing Subsidiaries in an aggregate principal amount at any time outstanding not to exceed the greater of $22.0 million or 12.5% of Consolidated Net Tangible Assets, that is insured by the Federal Housing Administration, an organizational unit of the United States Department of Housing and Urban Development.

HUD Financing means any type of financing to or for Borrower, or any Subsidiary of Borrower, from the U.S. Department of Housing and Urban Development.

HUD Financing. The financing to Owners for the Projects, which is insured by HUD, which is referred to in the Intercreditor Agreements.