Land Loan definition

Land Loan means the aggregate principal amount for the time being owing and outstanding under the Land Loan Facility.

Land Loan means indebtedness incurred pursuant to a senior secured delayed-draw term loan in an aggregate amount not to exceed $250 million that was entered into on February 7, 2008.

Land Loan means a Commercial Real Estate Loan secured by entitled land intended for construction, which loan is acceptable to the Administrative Agent in its discretion. Land Loans are not Eligible Assets unless deemed so on a case by case basis in the Administrative Agent’s discretion.

Examples of Land Loan in a sentence

• PROVIDED ALWAYS that if any partial prepayment of the Land Loan Facility and/or the Construction Loan Facility is made by the Borrower within the period of ( ) months from the date of first disbursement of the Land Loan Facility or any part thereof, the Borrower shall pay to the Lender a prepayment fee calculated at the rate of per cent ( %) of the prepaid amount or at such other rate as may be fixed by the Lender from time to time.

• The interest rates of the Land Loan Facility and the Construction Loan Facility are specified in the Facility Letter.

• In the event the Land Loan Facility and/or Construction Loan Facility or any part thereof is/are cancelled or not utilised by the Borrower after acceptance of the Facility Letter, the Borrower shall pay a cancellation fee of one per cent (1%) of the total original loan amounts and any other costs and charges incurred by the Lender on behalf of the Borrower.

• In the event the Land Loan Facility and/or the Construction Loan Facility or any part thereof is/are cancelled or not utilised by the Mortgagor or the Borrower after acceptance of the Facility Letter, the Mortgagor and/or the Borrower shall pay a cancellation fee of one per cent (1%) of the total original Land and Construction Loans amount and any other costs and charges incurred by the Lender on behalf of the Mortgagor and/or the Borrower.

• The Land Loan Borrower or the assets constituting collateral under the Land Loan will be transferred to New Propco or a subsidiary thereof at the direction of the holders of the Land Loan.

More Definitions of Land Loan

Land Loan means the loan from Guaranty Federal to the General Partner in the amount of $521,714, which amount will be assumed by the Partnership and repaid on the Closing Date out of the proceeds of the Initial Loan.

Land Loan means a performing first priority mortgage loan secured by undeveloped real estate intended to be developed into retail, hospitality, commercial, multi-family or condominium property.

Land Loan means that loan to Owner by Xxxxxx Center for Neighborhood Innovation, a California nonprofit public benefit corporation (“JCNI”), in the principal amount of $769,073 to fund a portion of the acquisition of the Property and the Improvement Costs.

Land Loan means the loan in the principal amount of $7,000,000 made by Lender to Borrower pursuant to that certain Contract of Acquisition and Loan Agreement dated of even date herewith.

Land Loan means a loan extended by a financial institution to borrowers that is secured by land in a residential district or a commercial district designated under urban planning.

Land Loan means, collectively, the real estate-backed delayed draw term loans provided to the Land Loan Subsidiaries pursuant to the Land Loan Documents.

Land Loan. As defined in Section 2.9.