PLP Loan definition

PLP Loan means a direct loan from the Predevelopment Loan Program.
Sample 1Sample 2Sample 3

Examples of PLP Loan in a sentence

  • If the Development does not obtain construction or permanent financing from the Corporation and no Corporation funds remain in the Development, the Compliance Period shall be fifteen (15) years from the date the PLP Loan is paid off.

  • Approve the Credit Underwriter’s final recommendation and authorize staff to proceed with loan closing activities on the site acquisition portion of the PLP Loan.

  • Approve the PLP Loan in the amount of $500,000 to the Applicant, a not-for-profit organization, for predevelopment expenses as recommended by the TAP and allow staff to issue the Commitment Letter and commence loan closing proceedings.

  • Approve the PLP Loan in the amount of $500,000 to the Developer, a not-for-profit organization, for predevelopment expenses as recommended by the TAP and allow staff to issue the Commitment Letter and commence with loan closing proceedings.

  • Approve a PLP Loan in the total amount of $500,000 to the Developer, a public housing authority, for predevelopment expenses as recommended by the TAP and allow staff to issue the commitment letter and begin loan closing proceedings.

  • Approve the Credit Underwriter’s final recommendation and authorize staff to proceed with loan closing on the acquisition portion of the PLP Loan for The Housing League, Inc., a not-for-profit organization.

  • Approve a PLP Loan in the total amount of $500,000 to the Developer for predevelopment expenses as recommended by the TAP and allow staff to issue the commitment letter and begin loan closing proceedings.

  • On February 28, 2005, the Developer closed on a PLP Loan in the amount of $500,000.

  • Provisions of the RFA allow the Applicant to rely upon the experience of another professional such as its general contractor to provide development services.3. FHFC PLP Loan: A FHFC Predevelopment Loan Program (“PLP”) loan in the amount of $500,000 was secured by the Applicant on March 18, 2009, of which $301,963 has been drawn.

  • Approve the PLP Loan in the amount of $500,000 to Hernando County Housing Authority, a Public Housing Authority, for Magnolia Gardens, for predevelopment expenses as recommended by the TAP and allow staff to issue the Commitment Letter and commence with loan closing proceedings.

Related to PLP 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.

  • 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.

  • 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).

  • 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.

  • 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.

  • 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.

  • 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;

  • 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”.

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

  • Initial Loan is defined in Section 2.1.

  • Existing Loan means the loan identified on Exhibit H.

  • 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.

  • Original Loan shall have the meaning set forth in the recitals hereto.

  • 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.

  • 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.

  • 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.

  • 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.

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

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Revolving Advance has the meaning given in Section 2.1.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

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

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement.