TIF Loan definition

TIF Loan means the loan made to Developer for the purpose of obtaining funds necessary for constructing the Public Infrastructure and other Project improvements to be constructed by Developer, which financing is secured by the TIF Note, and including any renewals, extensions and refinancing of such TIF Loan.
Sample 1
TIF Loan means the loan in the amount of $527,000 loaned to Borrower for the Project by the Lender and the loan made pursuant to this Agreement.
Sample 1
TIF Loan means the loan in the amount of $1,000,000 loaned to Borrower for the Project by the Lender and the loan made pursuant to this Agreement.
Sample 1

Examples of TIF Loan in a sentence

  • Borrower(s) will also be required to sign a Small Cap TIF Loan Agreement, Land Use Restriction, Escrow Agreement and Note.

  • However, in the event that any mortgage loan obtained by the Developer is refinanced, the Authority may, in its sole discretion, review the terms of such refinancing and consent to the refinancing without requiring the payment in full of the outstanding principal amount of the TIF Loan.

  • The parties agree and understand that the Authority expects to finance the TIF Loan under Section 3.7 hereof.

  • The principal of the TIF Loan must be paid in full on the later of (i) 30 years following the Closing; or (ii) the maturity of any permanent mortgage loan obtained by the Developer to finance the Minimum Improvements.

  • The Authority and the Developer agree that principal of the TIF Loan will be subject to repayment in full.

  • The Developer shall continue to make principal payments on the TIF Loan each year until the TIF Loan is repaid in full.

  • However, the Authority may use any funds available to the Authority to fund the TIF Loan.

  • The Developer has no title or interest in Tax Increments, except to the extent the Authority elects to use Tax Increment to fund the TIF Loan.

  • The Developer shall repay the principal amount of the TIF Loan in full upon a sale of the Development Property or refinancing of any mortgage loan obtained by the Developer to finance the Minimum Improvements.

  • The City of Chicago, the TIF Lender and any guarantor of the TIF Loan shall be named as additional insureds and loss payees.


More Definitions of TIF Loan

TIF Loan means a loan made by Xxxxxx County to Borrower pursuant to a Property Tax Increment Agreement between Xxxxxx County and the Borrower in an amount sufficient to result, after the costs of issuance, in Net TIF Proceeds of $1,600,000.00.
Sample 1
TIF Loan means that certain loan by Marriott to PAID in the principal amount of $10,000,000.
Sample 1
TIF Loan means the financing provided by the TIF Lender to the City for reimbursement of certain TIF-Funded Improvement Costs as described in Exhibit H attached hereto.
Sample 1

Related to TIF Loan

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • PPP Loan has the meaning set forth in Section 3.28.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Bid Rate Loan means a loan made by a Lender under Section 2.3.(f).

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • Type of Loan means (i) with respect to either Term Loans or Revolving Loans, a Base Rate Loan or a Eurodollar Rate Loan, and (ii) with respect to Swing Line Loans, a Base Rate Loan.

  • Dollar Loan means a Loan denominated in Dollars.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Term A-2 Loan means an advance made by any Term A-2 Lender under the Term A-2 Facility.

  • Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Term C Loan is defined in Section 2.2(a)(iii) hereof.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Term B-2 Loan means the Loan in the amount set forth in Section 2.01(a)(i).

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.