Third Party Loan definition

Third Party Loan. A Mortgage Loan (including any Correspondent Loan) owned by a third party investor and with respect to which Owner owns or has otherwise acquired the Servicing Rights relating thereto, and any Correspondent Loan held by Owner as a whole loan.

Third Party Loan means any loan, advance, deposit or extension of credit made or granted by Borrower to any other Person.

Third Party Loan shall have the meaning specified in Section 5.3(a).

Examples of Third Party Loan in a sentence

• If there is more than one Third Party Loan, an overall loan ma- turity must be calculated, taking into account the maturities and amounts of each loan.

• A Third Party Loan must have a term of at least 7 years when the 504 loan is for a term of 10 years and 10 years when the 504 loan is for 20 years.

• The Third Party Loan has a reasonable interest rate which does not and will not exceed the maximum interest rate for Third Party Loans from commercial financial institutions as published periodically by SBA in the Federal Register and in effect as of the date of this Agreement.

• By participating, a Third Party Loan lender waives, as to the CDC/SBA financing, any provi- sion in its deed of trust, or mortgage, or other documents prohibiting further encumbrances or subordinate debt.

• After completion of the Project, the Third Party Lender may not make future ad- vances under the Third Party Loan ex- cept expenditures to collect amounts due the Third Party Loan notes, main- tain collateral and protect the Third Party Lender’s lien position on the Third Party Loan.

More Definitions of Third Party Loan

Third Party Loan means (a) a loan made to the Company that is secured by a lien on the Subsidiary Interests or the other assets of the Company or that is senior to other indebtedness of the Company or (b) a loan made to any or all of the Subsidiary Companies that is secured by a lien on the Subsidiary Company Assets of such Subsidiary Company (including, without limitation, a lien on any or all of the Property owned by such Subsidiary Company). As of the Effective Date, each of the 77 Greenwich Mortgage Loan, the 237 11th Mortgage Loan and the 237 11th Mezz Loan is a Third Party Loan.

Third Party Loan means, with respect to any Person, any loan or advance (other than deposits with financial institutions available for withdrawal on demand, prepaid expenses, accounts receivable and similar items made or incurred in the ordinary course of business) by that Person to any other Person, including all Indebtedness to such Person arising from a sale of property by such Person other than in the ordinary course of its business.

Third Party Loan means, collectively, the Third Party Mortgage Loan and the Third Party Mezzanine Loan.

Third Party Loan has the meaning set forth in Section 4.3(a).

Third Party Loan means the Construction Loan, Permanent Loan, Construction/Permanent Loan (if any), and/or any other loan, credit enhancement or construction period guaranty facility that is secured by a deed of trust or other instrument.

Third Party Loan. A Mortgage Loan which has been originated by a Third Party Lender and underwritten and closed by Seller.

Third Party Loan means the loan(s) from the Third-Party Lender for the purpose of financing the construction costs of the Project and equipment financing, and permanent take-out financing, if any, of such construction/equipment financing.