substantial benefit definition

substantial benefit means a benefit which has a substantial value relative to the financial resources and assets of the person intending to bestow the benefit.
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substantial benefit means that the portion of the new installment amounts attributable to the debt being refinanced must be at least 10% less than the existing installment amount(s). The total installment amount is determined by adding the two installment amounts attributable to the refinancing using the interest rate of the most recent debenture funding on the 504 loan and the committed interest rate of the Third Party Lender loan. The total amount must be 10% less than the existing installment amount(s).
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substantial benefit means that the portion of the new installment amount attributable to the debt being refinanced must be at least 10 percent less than the existing installment amount(s). Prepayment penalties, financing fees, and other financing costs must also be added to the amount being refinanced in calculating the percentage reduction in the new installment payment. Exceptions to the 10% reduction requirement may be approved by the Director, Office of Financial Assistance (D/FA)
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Related to substantial benefit

  • Substantial evidence means evidence that:

  • Substantial improvement means any combination of repairs, reconstruction, rehabilitation, addition, or other improvement of a structure, taking place during any one-year period for which the cost equals or exceeds 50 percent of the market value of the structure before the “start of construction” of the improvement. This term includes structures which have incurred “substantial damage”, regardless of the actual repair work performed. The term does not, however, include either:

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Accrued Benefit have the meanings specified in ERISA.

  • Substantial Change means a change to the terms of this Agreement that reduces your rights or increases your responsibilities.

  • Dependent child means a child residing in an individual’s household who may legally be claimed as a dependent on the federal income tax of such individual.