Security Financing Interest definition

Security Financing Interest means a mortgage, deed of trust, or other reasonable method of security encumbering the Developer's fee interest in the Property that: (i) meets the requirements of this Agreement; and (ii) secures any construction or permanent loan or refinancing approved by the City in connection with the approval of the Financing Plan.

Security Financing Interest has the meaning set forth in Section 8.1.

Security Financing Interest means a mortgage, deed of trust, or other reasonable security instruments securing loans against the Property. The words "mortgage" and "deed of trust" as used in this Agreement include all other modes of financing real estate acquisition, construction, and land development.

Examples of Security Financing Interest in a sentence

• The holder in that event must agree to complete, in the manner provided in this Agreement (or as may be amended by the Security Financing Interest Assignment; provided, however, the County is under no obligation to extend the dates for performance set forth in this Agreement), the Improvements to which the lien or title of such holder relates.

• The holder of any Security Financing Interest authorized by this Agreement is not obligated to construct or complete any Development or to guarantee such construction or completion; nor will any covenant or any other provision in conveyances from the City to the Developer evidencing the realty comprising the Property or any part thereof be construed so to obligate such holder.

• The holder in that event must agree to complete, in the manner provided in this Agreement (or as may be amended by the Security Financing Interest Assignment; provided, however, the City is under no obligation to extend the dates for performance set forth in this Agreement), the Development to which the lien or title of such holder relates.

• The Developer shall not terminate this Agreement as to any portion of the Property which is subject to any Security Financing Interest without first obtaining the prior written consent of all Permitted Mortgagees whose Permitted Mortgages encumber that portion of the Property.

• The City agrees that such lien shall be subordinate to any Security Financing Interest, and the City shall execute from time to time any and all documentation reasonably requested by Developer to effect such subordination.

More Definitions of Security Financing Interest

Security Financing Interest has the meaning set forth in Section 8.1. (mm) "Security Financing Interest Assignment" has the meaning set forth in‌ Section 8.4.

Security Financing Interest has the meaning set forth in Section 10.1.

Security Financing Interest. The words "mortgage" and "deed of trust" as used in this Agreement include all other appropriate modes of financing real estate acquisition, construction, and land development, including any such other modes used pursuant to the approved evidence of financing pursuant to Section 2.01(f).

Security Financing Interest has the meaning set forth in Section 9.1. (ttt) "Security Financing Interest Assignment" has the meaning set forth in‌ Section 9.4.

Security Financing Interest has the meaning given in Section 10.1. (kkk) "Supplemental Approvals" means collectively the following City approvals related to and necessary for development of the Vertical Improvements on the applicable Phase of the Property consistent with this Agreement:

Security Financing Interest has the meaning set forth in Section 15.1, below.

Security Financing Interest has the meaning set forth in Section 12.1. (ccc) "Tax Credits" means federal low-income housing tax credits established pursuant to Section 42 of the Internal Revenue Code of 1986, as amended.