Project Loan Advance definition

Project Loan Advance means “Advance” as such term is defined in the Project Loan Agreement.
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Project Loan Advance means each disbursement of the Project Loan pursuant to Section 2.6 hereof.
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Project Loan Advance shall have the meaning assigned to such term in Section 1.1 of each Project Loan Agreement.
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Examples of Project Loan Advance in a sentence

  • The portion of the Final Advance described in clause (c) of the foregoing sentence is referred to herein as the “Building Loan Earn Out Advance” and the corresponding portion of the Final Project Loan Advance is referred to herein as the “Project Loan Earn Out Advance” and together with the Building Loan Earn Out Advance, the “Earn Out Advances”.

  • All conditions to the Final Project Loan Advance have been satisfied and the Final Project Loan Advance shall have been made or will be made simultaneously therewith.

  • Borrower and Lender acknowledge and agree that Lender may automatically make a Project Loan Advance or apply Interest Reserve Funds on deposit in the Interest Reserve Account on each Payment Date occurring during the Construction Term, in either instance, in accordance with this Section 2.3.1, without the need for Borrower to submit a Draw Request or otherwise request such an Advance or application.

  • Lender shall be satisfied that the Lessor shall have contributed on the relevant Borrowing Date an amount equal to the Developer Equity associated with such Project Loan Advance.

  • Lender shall not be obligated to make any Project Loan Advance subsequent to the initial advance until all of the conditions set forth in this subsection shall have been met to Lender's satisfaction.

  • The making of a Project Loan Advance shall not constitute a waiver of any of the conditions of Lender's obligation to make further advances.

  • Following such Advance (and any Project Loan Advance being made on such date), the Loan-to-Cost Ratio shall be no greater than 75%.

  • Following such Advance (and any Project Loan Advance being made on such date), the Loan-to-Cost Ratio shall be no greater than 80%.

  • Simultaneously with the Initial Advance of the Project Loan, Borrower shall deposit with Lender an amount (the “Initial Tax and Insurance Escrow Deposit”) equal to the Taxes, Insurance Premiums and Other Charges that Lender estimates will be payable from and after the Closing Date through and including the date that the Second Tax and Insurance Escrow Deposit is payable, which shall be funded from the Project Loan Advance.

  • Simultaneously with the Initial Advance, Borrower shall deposit with Lender an amount (the “Initial Tax and Insurance Escrow Deposit”) equal to the Taxes, Insurance Premiums and Other Charges that Lender estimates will be payable from and after the date of the Initial Advance through and including the date that the Second Tax and Insurance Escrow Deposit is payable, which shall be funded from the Project Loan Advance.

Related to Project Loan Advance

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

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • 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.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Equipment Advance is defined in Section 2.1.1.

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Project Loan Agreement means the Project Loan Agreement dated as of the date hereof among the Borrower, the Governmental Lender and the Fiscal Agent, as amended, supplemented or restated from time to time.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

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

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Initial Advance means the first Advance made pursuant to Article II.

  • Future Advance means an Advance made after the Initial Closing Date.

  • Project Preparation Advance means the project preparation advance granted by the Association to the Borrower pursuant to an exchange of letters dated April 28, 1994 and May 21, 1994 between the Borrower and the Association;

  • Tranche B Advance has the meaning specified in Section 2.01(b).

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Revolving Advance has the meaning given in Section 2.1.

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • 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.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

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