Examples of Soft Cost Loan in a sentence
In connection with the Soft Cost Loan and the Building Loan, Borrower and Guarantor are executing in favor of the Lenders an Environmental Indemnity Agreement, to be dated of even date herewith (the "ENVIRONMENTAL INDEMNITY").
Borrower shall receive the Advances of the Building Loan made hereunder and shall hold same in trust solely for, and shall expend, Building Loan proceeds solely for the purpose of paying costs of the improvement as defined in the New York Lien Law, and identified in the Budget and Borrower shall utilize Advances of the Soft Cost Loan solely for the purpose of paying costs identified in the Budget as Soft Costs.
Principal of and interest on each Soft Cost Loan and each Growth Capital Loan shall be payable as set forth in a Note (substantially in the form of Exhibit “A-2” hereto) evidencing such Loan, which Note shall provide substantially as follows: principal and interest at the Designated Rate shall be fully amortized over a period of thirty (30) months in equal, monthly installments.
Principal of and interest on each Soft Cost Loan shall be payable as set forth in the Note (substantially in the form of Exhibit “C”) evidencing such Loan, which Note, shall provide substantially as follows.
The Building Loan is evidenced by one or more promissory notes, of even date herewith, in the aggregate original principal amount of $36,456,404 (individually and collectively, the "BUILDING LOAN NOTE") and the Soft Cost Loan is evidenced by one or more promissory notes, of even date herewith, in the aggregate original principal amount of $12,668,596.00 (individually and collectively, the "SOFT COST NOTE").
Principal of and interest on each Soft Cost Loan and each Additional Soft Cost Loans shall be payable as set forth in the Note (substantially in the form of Exhibit “C”) evidencing such Loan, which Note, shall provide substantially as follows.
The undisbursed portion of the Soft Cost Loan and/or the Building Loan shall include a reserve for interest and other costs relative to the Property, the Soft Cost Loan and the Building Loan in all respects acceptable to Agent, and both the Soft Cost Loan and the Building Loan shall be in balance, as determined by Agent.
Borrower shall receive the Advances of the Building Loan made under the Building Loan Agreement and shall hold same in trust solely for, and shall expend, Building Loan proceeds solely for the purpose of paying costs of the improvement as defined in the New York Lien Law, and identified in the Budget and Borrower shall utilize Advances of the Soft Cost Loan solely for the purpose of paying costs identified in the Budget as Soft Costs.
The Building Loan will be advanced to Borrower for and on account of Hard Costs (as defined below) and the Soft Cost Loan will be advanced to Borrower on account of Soft Costs (as defined below).
Principal of and interest on each Equipment Loan and each Soft Cost Loan shall be payable as set forth in the Note (substantially in the form of Exhibit “A-1”) evidencing such Loan, which Note shall provide substantially as follows.