MHP Loan definition

MHP Loan has the meaning set forth in Section 1.1(l)(iii).
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MHP Loan means the loan evidenced by the MHP Notes. --------
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MHP Loan means that certain loan to be made by the State of California Department of Housing and Community Development in the amount of $2,629,300.
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Examples of MHP Loan in a sentence

  • Developer shall provide social services to tenants of the Apartment Complex in accordance with the terms of the MHP Loan and the supportive services plan and regulatory agreement entered into by Developer in connection with the MHP Loan as well as requirements imposed by other Project funding sources.

  • All ---------------------------------------------------- representations and warranties contained in this Agreement and the indemnification provisions hereof shall survive the execution and delivery of this Agreement and the making of the MHP Loan and shall be considered to have been relied upon by the Lender regardless of any investigation made by or on behalf of it.

  • THE CITY COUNCIL RECESSED AND RECONVENED AS THE COMMUNITY DEVELOPMENT COMMISSION: 7:22 P.M. The Community Development Commission approved the minutes from the November 15, 2010 meeting, and authorized the subordination of the Commission Housing Loan for the Sierra Bonita Apartments to the deed of trust securing the HCD MHP Loan.

  • The initial term of the Loan shall be at least fifty-five (55) years, and it shall commence on the date of recordation of the MHP Loan documents.

  • You have also informed us the Apartment Complex will receive an additional financing in the form of: (i) a loan from the HHH Loan program in the amount of $7,000,000 (the “HCID Loan”) bearing 1% simple interest per annum for a term of 55 years with all unpaid principal and accrued interest due upon maturity and, (ii) an MHP Loan in the amount of $10,197,782 bearing 3% interest per annum for a term of 55 years with all unpaid principal and accrued interest due upon maturity.

  • MHP and the General Partner shall use -------------- commercially reasonable best efforts to cooperate with NACC in its activities in connection with the sale of the MHP Loan as a whole loan or any securitization of the MHP Loan (the "Securitization"), including obtaining ratings by the -------------- Rating Agencies.

  • In the event that the Sponsor secures better pricing, this resulting increase in equity would reduce the MOHCD loan.• HCD MHP Loan ($25,000,000): The Sponsor is requesting less than the maximum award amount under MHP in order to remain competitive for an award.

  • Except as to the approved Primary Loan, AHP Loan, and the MHP Loan that is anticipated to replace the Construction Loan and Seller Loan, the Agency Loan Deed of Trust shall be senior and not subordinate to all other financing, encumbrances, and liens, except as may be approved by the Executive Directors of the Agency and of the Authority pursuant to Section 310 of the AHA.

  • Xxxxxx MHP (Loan No. 46) The Mortgaged Property is legal non-conforming as to use.

  • Each of the DDRA Loan, the Atlanta Marriott Loan and the Overland MHP Loan shall be serviced and administered in accordance with the provisions of Article III hereof and the related Loan REMIC Declaration.


More Definitions of MHP Loan

MHP Loan means a loan obtained by Tenant pursuant to the Multifamily Housing Program (―MHP‖) implemented by HCD pursuant to authority granted by the MHP Regulations, in an amount of up to Dollars ($ ). ―MHP Regulations‖ shall mean the state statutes and implementing regulations promulgated in California Health and Safety Code Section 50657, et seq., and 25 Cal. Code Regs. Section 7300, et seq., and the Uniform Multifamily Regulations set forth at 25 Cal. Code Regs. Section 8300, et seq., respectively and collectively. ―Mortgage‖ has the meaning set forth in Section 18.1 of this Ground Lease. ―Mortgagee‖ has the meaning set forth in Section 18.1 of this Ground Lease. ―New Ground Lease‖ is defined in Section 18.10(c)(8).
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MHP Loan has the meaning set forth in Section 1.1(h)(ii). (uu) "Net Proceeds of Permanent Financing" means the amount by which Permanent Financing exceeds the Final Development Costs.
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MHP Loan means a permanent financing loan from HCD pursuant to the MHP Program.
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MHP Loan means the loan awarded to Borrower to permanently finance the Project by the State of California Department of Housing and Community Development.
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Related to MHP Loan

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

  • Commercial loan means a loan that is not made primarily for

  • Initial Loan is defined in Section 2.1.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • New Loan means a Loan made by the Failed Bank after the Bid Valuation Date that is not a continuation, amendment, modification, renewal, extension, refinancing, restructuring or refunding of or for any then-existing Loan.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Wet Loan means a Purchased Loan originated and owned by the Seller immediately prior to being purchased by the Buyers:

  • Loan Advance The meaning specified in Section 2.2(a).

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.