Examples of Split Loan in a sentence
Upon a Loan Splitting, the principal amount of the Loan shall be reduced by an amount equal to the aggregate Allocated Loan Amounts of the Affected Properties (the “New Note Amount”), and the original principal amount of the Split Loan, as evidenced by the New Note, shall be equal to the New Note Amount.
The Loan Split Documents may, at Lender’s option, contain provisions that cross-default and/or cross-collateralize the Split Loan with the Loan and/or one or more other Split Loans.
The entire mortgage debt of the non interest bearing portion of a "Split Loan" is recorded against the Principal Deficiency Ledger.
However, when there is significant cash flow to pay back the City Loan, the following terms will apply: City loans may be repaid as an amortized loan, a cash flow loan based on available cash flow or a combination of both types of loan called a “Split Loan.” In the case of a Split Loan, there will be two notes, each having different repayment terms.
However, when there is significant cash flow to pay back the City Loan, the following terms will apply: In the City’s discretion payments may not be required during the acquisition, construction and lease-up phase. City loans may be repaid as an amortized loan, a cash flow loan based on available cash flow or a combination of both types of loan called a “Split Loan.” In the case of a Split Loan there will be two notes, each having different repayment terms.
The entire mortgage debt of the non interest bearing portion of a 'Split Loan' is recorded against the Principal Deficiency Ledger.
However, when there is significant cash flow to pay back the City Loan, the following terms will apply:• In the City’s discretion payments may not be required during the acquisition, construction and lease-up phase.• City loans may be repaid as an amortized loan, a cash flow loan based on available cash flow or a combination of both types of loan called a “Split Loan.” In the case of a Split Loan there will be two notes, each having different repayment terms.
Exhibit III-11) (Original) (Not required for the Second Lien of a DUS Split Loan) Tab 4.
With respect to any Co-Lender Split Notes, to the extent that the Co-Lender Agreement requires reimbursement of the Other Servicer on behalf of the Lead Lender of such Split Loan of any Property Advance, the Servicer shall reimburse such amount as a Property Advance hereunder.
This is the minimum loan amount that the applicant needs to obtain from another lender based on their income tier.The term is to be set at 30 years and the interest rate is to be set at the IBA Split Loan External Funding Interest Rate.