Primary Loan definition

Primary Loan means a housing loan under s. 45.37, Stats.

Primary Loan means a housing loan under s. 45.79, Stats.

Primary Loan means a Loan consisting of a portion of a Primary Advance.

Examples of Primary Loan in a sentence

• To the greatest extent permitted by the terms of financing secured by Developer for the two Projects and as a material part of the consideration exchanged and as to be disclosed to each Lender by Developer prior to and as a part of any Primary Loan, the same individuals or entity(ies) shall be retained as the Property Manager for both Projects.

• In addition, Developer shall have certified in writing to Authority that the Primary Loan, Tax Credits, Authority Subordinate Loan, any additional affordable housing subsidies, Postponed Fees, Deferred Developer Fee, Deferred Contractor Fee, and required equity contributions, are together projected to be sufficient to pay for the completion of development of the applicable Project.

• Notwithstanding the foregoing, the Ground Lease (as to the applicable Project) shall be senior and non-subordinate to the Primary Loan, including any and all construction and permanent financing for the applicable Project.

• Subject to the timing and provisions of Section 310.1, as to each Project, Developer’s difficulty or inability to obtain and secure the Primary Loan or other financing shall in no event become an event of force majeure.

• In addition, any action taken by Authority, City, or Agency to cure a default by Developer under the Primary Loan entered into between Developer and California Community Reinvestment Corporation, as Debt Lender, (and any approved successor permanent Debt Lender) shall constitute an Event of Default hereunder if Developer has not cured such default within fifteen (15) days of receiving notice of such Event of Default.

More Definitions of Primary Loan

Primary Loan means the loan provided by the primary lender that is used by the applicant to purchase a personal residence. A primary loan shall provide for a fixed interest rate and equal monthly payments of principal and interest for the term of the loan. The term of the primary loan must be at least 20 years, except that a homeownership revitalization area loan may be for a term of not less than 15 years.

Primary Loan and “Primary Loans” shall mean, individually and collectively, the permanent and construction financing obtained by Developer for the Project from one or more institutional lender(s) other than an Affiliate of Developer, as approved by Authority Executive Director, which loan(s) shall be senior to Authority’s Regulatory Agreement, but subordinate to Authority’s fee interest in the Site and the Entitlement for the Project, including the City Covenants.

Primary Loan and “Primary Loans” shall mean, individually and collectively, the permanent and construction financing obtained by Developer for the Project from one or more lender(s) other than an Affiliate of Developer, as approved by Agency Executive Director, which loan(s) shall be senior to Agency’s Regulatory Agreement, but subordinate to the Entitlement for the Project.

Primary Loan and “Primary Loans” shall mean, individually and collectively, the permanent and construction financing obtained by Developer for the Project from one or more lender(s), as approved by Agency Executive Director.

Primary Loan has the meaning set forth in Recital B.

Primary Loan means any Loan made by any Primary Lender pursuant to Section 2.1(a).

Primary Loan means the loan secured by, among other things, a first lien on the Property and that was obtained by the Company in connection with the acquisition of the Property, and any other loan that, with prior Class A Member Approval, refinances or increases such loan and that is also secured by a first lien on the Property.