Permanent Phase definition

Permanent Phase means the permanent phase of the Project Loan, which time period shall commence on the Conversion Date and remain in effect through the remaining term of the Project Loan.
Permanent Phase means the period of the Bond Mortgage Loan commencing on the Conversion Date and continuing through the maturity of the Bond Mortgage Loan.
Permanent Phase has the meaning given to that term in the Construction Phase Financing Agreement.

Examples of Permanent Phase in a sentence

  • From and after the commencement of the Permanent Phase, the Borrower shall furnish the City with quarterly and annual operating statements for the Property sufficient to enable the City to verify the amount of income being generated by the Improvements and the expenses of the operation hereof.

  • In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.

  • If the Permanent Phase commences as provided in this Article V, there shall be due on the Loan such payments as are set forth in the Note with respect to the Permanent Phase.

  • The notice shall set forth the desired relevant commencement date of the Permanent Phase determined in accordance with Section 5.3.

  • Provided all of the requirements and conditions set forth in Section 5.1 have been met and the Borrower has properly exercised the option to convert the Loan to a Permanent Loan in the manner and at a time permitted under Section 5.2, then the Permanent Phase shall commence on the Construction Loan Maturity Date.

  • If, however, the Borrower exercises the option provided in Article V to convert the Loan to a Permanent Loan, the Construction Phase shall expire on the last day immediately preceding the commencement of the Permanent Phase.

  • Provided the requirements of Article V are met, the period of time from the commencement of the Permanent Phase as provided in Section 5.3.

  • The Loan shall have a Construction Phase and if the requirements of Article V are met, a Permanent Phase.

  • During the Permanent Phase, I will pay interest (“Permanent Phase Rate”) at the rate stated in Section 2 of the Note (“Note Rate”).

  • Generally, Acquisition and Construction Phase loans are not assignable, but the Department will consider the assignment of Permanent Phase loans upon confirmation that the property is operating in accordance with all regulatory agreements, remains financially viable, and the capacity and creditworthiness of the proposed assignee is demonstrated.


More Definitions of Permanent Phase

Permanent Phase means the permanent phase of the Mortgage Loan commencing on the Conversion
Permanent Phase means the permanent phase of the applicable Fannie Mae Enhanced Loan commencing on the applicable Conversion Date.
Permanent Phase means the permanent phase of the Tax-Exempt Project Loan, which time period shall commence on the Conversion Date and remain in effect through the term of the Tax-Exempt Project Loan.
Permanent Phase means the permanent phase of the Mortgage Loan commencing on the Conversion Date. “Permitted Encumbrances” means such liens, encumbrances, declarations, reservations, easements, rights-of-
Permanent Phase provided the requirements of Article V are met, the period of time from the commencement of the Permanent Phase as provided in Section 5.3.
Permanent Phase means with respect to a Project the date on which amortization payments have commenced on the project loan and there shall have occurred (a) Completion of Construction, (b) Stabilization and (c) if required or provided for under the applicable bond documents, a Resizing of the applicable Tax-Exempt Bond.

Related to Permanent Phase

  • Permanent Work means the permanent works including equipment to be supplied, executed, erected and maintained in accordance with the Contract.

  • Permanent Works means the permanent works to be executed by the Contractor under the Contract.

  • Permanent Total Disablement means a bodily injury caused by accidental, external, violent and visible means, which as a direct consequence thereof totally disables and prevents the insured from attending to any business or occupation of any and every kind or if he/she has no business or occupation, from attending to his/her usual and normal duties that last for a continuous period of twelve calendar months from the date of the accident, with no hopes of improvement in future

  • Permanent sign means a Sign constructed of weather-resistant material and intended for permanent use and that does not otherwise meet the definition of “Temporary Sign.”

  • Permanent Post means a post carrying a definite rate of pay sanctioned without limit of time.

  • Permanent residence means a place where the person abides, lodges, or resides for 5 or more consecutive days.

  • Permanent and Total Disability means any medically determinable physical or mental impairment rendering an individual unable to engage in any substantial gainful activity, which disability can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months.

  • Permanent total disability means incapacity because of accidental injury or occupational disease to earn any wages in any employment for which the employee may become physically suited and reasonably fitted by education, training or experience, including vocational rehabilitation; loss of both hands, or both feet, or both legs, or both eyes, or any two thereof, shall constitute permanent total disability;

  • Permanent status means the state or condition achieved by an employee in the classified service who has successfully completed an initial probationary period or a probationary period required following reinstatement, or whose probationary period is waived through specific statutory direction.

  • Development Phase means the period before a vehicle type is type approved.

  • Permanent structure means a permanent building or permanent structure that is anchored to a permanent foundation with an impermeable floor, and that is completely roofed and walled (new structures require a door or other means of sealing the access way from wind driven rainfall).

  • permanent resident means any occupant of any room or rooms in a hotel or transient accommodation for at least 90 consecutive days shall be considered a permanent resident with regard to the period of such occupancy.

  • Permanent partial disability means a permanent disability

  • Permanent radiographic installation means an enclosed shielded room, cell, or vault, not located at a temporary jobsite, in which radiography is performed.

  • Permanent Position Any position which has required, or which will require the services of an incumbent without interruption, for an indefinite period.

  • Design Phase means the period during which the Transporter shall prepare a draft project proposal for publication in accordance with section 4.3;

  • Permanent Disablement means a disability falling under one of the items of disablement listed in the scale of compensation in this Policy under Section 1, which was caused by an Accident, as long as the disability lasts for twelve (12) consecutive months from the date of the Accident and at the expiry of that period our appointed Registered Medical Practitioner confirms that the disability is not going to improve after twelve (12) months.

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Substantial Completion Date means the required date for Substantial Completion of the Project. The Substantial Completion Date can be adjusted only by written Change Order.

  • permanent establishment means a fixed place of business through which the business of an enterprise is wholly or partly carried on.

  • main phase employment and support allowance means an employment and support allowance where the calculation of the amount payable in respect of the applicant includes a component under section 2(1)(b) or 4(2)(b) of the Welfare Reform Act 2007 except in Part 1 of Schedule 1;

  • Permanent exclusion means the student is banned forever from attending a public school in the State of Ohio. (See Policy 5610.01)

  • Continuous Improvement Plan means a plan for improving the provision of the Goods and/or Services and/or reducing the Charges produced by the Supplier pursuant to Framework Schedule 12 (Continuous Improvement and Benchmarking);

  • Temporary Total Disablement means disablement which entirely prevents the Insured Person from attending to their business or occupation.

  • Intermittent stream means all watercourses identified as intermittent streams on United States Geological Survey quadrangle maps.