Shortfall Loans definition

Shortfall Loans. (as defined in Section 5.1(b)(ii) and the "Security Loan" (as defined in Section 5.1(c)).
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Shortfall Loans has the meaning given in clause 7.3(c).
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Shortfall Loans have the meaning set forth in Section 3.01(b).
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Examples of Shortfall Loans in a sentence

  • The obligations of the Members hereunder shall not confer upon any creditor or other third party having dealings with the Company any right, claim or other benefit, including the right to require any Cash Shortfall Loans.

  • The Members hereby covenant and agree to structure any Cash Shortfall Loans made pursuant to the terms of this Agreement so that such loans satisfy the “Straight Debt Safe Harbor” under Code Section 856(m) and the Treasury Regulations promulgated thereunder.

  • The Members hereby covenant and agree to structure any Cash Shortfall Loans made pursuant to the terms of this Agreement so that such loans satisfy the "Straight Debt Safe Harbor" under Code Section 856(c)(7) and the Treasury Regulations promulgated thereunder.

  • The amount of such loans (including, without limitation, Shortfall Loans) shall be treated as Indebtedness of the Company and not as a Capital Contribution and shall be repaid in accordance with the terms of the loan agreements relating to such loans, or in the case of Shortfall Loans, as described in Section 3.03(c).

  • All distributions of Net Cash Flow or Net Proceeds of a Capital Transaction or repayments by the Company of any Cash Shortfall Loans otherwise payable to Inland shall be made instead to Cordish until all Default Loans (including accrued and unpaid interest) made by Cordish have been repaid in full.

  • The proceeds of Cash Shortfall Loans, Default Loans and Development Loans made pursuant to the provisions of this Agreement and the proceeds of any financing obtained by Cordish pursuant to Section 6.2.B(i) with respect to any Additional Property will only be advanced as and to the extent that costs and expenses to be funded pursuant to the provisions hereof by such Cash Shortfall Loans, Default Loans, Development Loans and/or such other financing are actually incurred.

  • The obligations of Inland or Cordish to fund Cash Shortfall Loans hereunder shall not confer upon any creditor or other third party having dealings with the Company or any Owner Entity any right, claim or other benefit, including the right to require any such Cash Shortfall Loans.

  • All distributions of Net Cash Flow or Net Proceeds of a Capital Transaction or repayment by the Company of any Cash Shortfall Loans otherwise payable to Cordish shall be made instead to Inland until all Default Loans (including accrued and unpaid interest) made by Inland have been repaid in full.

  • Except for Required Capital Shortfall Loans, Discretionary Capital Shortfall Loans and Managing Member Loans or as otherwise expressly provided herein, (x) no Member shall be required to make any loan or advance to the Company or any of the Subsidiaries, nor shall the Company or any of its Subsidiaries be required under this Agreement to accept any loans or advances offered by any Member, and (y) no Capital Contributions shall bear interest or otherwise entitle the contributing Member to any compensation.

  • If more than one Partner shall elect to make a Shortfall Loan, the Shortfall Loans shall be made on a pro rata basis based on the Partners’ respective Percentage Interests.


More Definitions of Shortfall Loans

Shortfall Loans. (as defined the Construction Pledgor LLC Agreement or the Sponsor Partner LLC Agreement) incurred by the Borrower on or prior to the Conversion Date or amounts owed in respect of loans deemed made by Borrower under Section 7.14 of the Construction Pledgor LLC Agreement or Section 7.14 of the Sponsor Partner LLC Agreement, each of which shall be repayable solely with Voluntary Equity Contributions or amounts available for distribution from the Distribution Account following satisfaction of the Distribution Conditions and otherwise on terms and conditions set forth on Exhibit P (as confirmed by the Administrative Agent);
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Shortfall Loans. Shortfall Loans shall accrue interest at the rate of twenty percent (20%) per annum, compounded quarterly, until repaid in full, and all amounts remaining due thereunder (after application of Section 6.03(a)) shall be due and payable in full on such Shortfall Loans (principal and interest) shall be repaid to the Shortfall Contributing Members out of any subsequent distributions of Net Cash Flow in accordance with Sections 6.03(a), 6.04 or 6.05, as applicable. Shortfall Capital Contributions shall be treated as provided in Section 6.03(a). Shortfall Capital Contributions shall be Additional Capital Contributions hereunder, but shall not be Substituted Capital Contributions, and a Member’s Gross Adjusted Capital Contributions shall in no event be increased by Shortfall Capital Contributions. A Shortfall Loan shall not be treated as a Capital Contribution or a Substituted Capital Contribution, and a Member’s Gross Adjusted Capital Contributions shall in no event be increased by a Shortfall Loan.
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Shortfall Loans has the meaning set forth in Section 4.02(d).
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Related to Shortfall Loans

  • Shortfall Amount as defined in Section 2.6.

  • Class B-3 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-3 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph eleventh of Section 4.01(a).

  • Prepayment Interest Shortfall Amount With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Due Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the amount of interest (net of the General Servicing Fee) that would have accrued on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such Due Date, inclusive.

  • Class B-4 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-4 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph fourteenth of Section 4.01(a).

  • Unpaid Interest Shortfall Amount With respect to the Class A Certificates and the Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.

  • Class B-6 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-6 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph twentieth of Section 4.01(a).

  • Class A Interest Shortfall Amount As to any Distribution Date and any Class of Class A Certificates, any amount by which the Interest Accrual Amount of such Class with respect to such Distribution Date exceeds the amount distributed in respect of such Class on such Distribution Date pursuant to Paragraph first of Section 4.01(a).

  • Class B-2 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-2 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-2 Certificates on such Distribution Date pursuant to Paragraph eighth of Section 4.01(a).

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Class B-1 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-1 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-1 Certificates on such Distribution Date pursuant to Paragraph fifth of Section 4.01(a).

  • Loan Group I The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group I.

  • Class B Interest Shortfall Amount Any of the Class B-1 Interest Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest Shortfall Amount or Class B-6 Interest Shortfall Amount.

  • Class B-5 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-5 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-5 Certificates on such Distribution Date pursuant to Paragraph seventeenth of Section 4.01(a).

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Loan Group IV The group of Mortgage Loans comprised of the Group IV Loans.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Loan Group 2 The Group 2 Mortgage Loans.

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Net Prepayment Interest Shortfalls As to any Distribution Date and Loan Group, the amount by which the aggregate of Prepayment Interest Shortfalls for that Loan Group during the related Prepayment Period exceeds the amount of Compensating Interest available to such Loan Group for such Distribution Date.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Excess Prepayment Interest Shortfall With respect to any Distribution Date, the aggregate of any Prepayment Interest Shortfalls resulting from any Principal Prepayments made on the Mortgage Loans to be included in the Aggregate Available Funds for such Distribution Date that are not covered by the Master Servicer’s Compensating Interest Payment for such Distribution Date and/or the portion of any compensating interest payments allocable to any Outside Serviced Mortgage Loan to the extent received from the related Outside Master Servicer.

  • Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Aggregate Loan Group Balance As to any Loan Group and as of any date of determination, will be equal to the aggregate of the Stated Principal Balances of the Mortgage Loans in that Loan Group, except as otherwise provided, as of the last day of the related Collection Period.

  • Prepayment Interest Shortfall As to any Distribution Date and any Mortgage Loan (other than a Mortgage Loan relating to an REO Property) that was the subject of (a) a Principal Prepayment in Full during the portion of the related Prepayment Period that falls during the prior calendar month, an amount equal to the excess of one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the Stated Principal Balance of such Mortgage Loan over the amount of interest (adjusted to the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) paid by the Mortgagor for such month to the date of such Principal Prepayment in Full or (b) a Curtailment during the prior calendar month, an amount equal to one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the amount of such Curtailment.