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.

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

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.

Examples of HUD Financing in a sentence

• 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.

• The Maker shall not undertake or enter into any transaction that would prevent the consummation of the HUD Financing or which would prevent the Maker from obtaining such financing.

• In the event that Maker is unable to obtain the HUD Financing, then Maker shall exert best efforts to secure and close Alternative Financing as soon as reasonably practicable.

• Sellers shall designate the HUD Properties that secure the HUD Portfolio Note, which shall not be HUD Properties that secure HUD Financing that is outstanding on the date hereof.

• Take all actions necessary to consummate the HUD Financing on the terms previously disclosed to Payee and use best efforts to consummate the HUD Financing on or prior to September 30, 2000.

More Definitions of HUD Financing

HUD Financing means an Indebtedness of a Borrower or 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 Borrower or Borrowers, including the Facility or Facilities owned and operated by such Borrower or Borrowers.

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 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 the XXX Xxxxx and the HUD Loan.

HUD Financing means Indebtedness of any Person (including any Single Asset Nursing Home Subsidiary) 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.