VHDA Gap Loan definition

VHDA Gap Loan means the One Million Nine Hundred Thousand and 00/100 Dollars ($1,900,000.00) mortgage loan from VHDA to the Borrower, pursuant to the terms of those certain VHDA Loan Documents.
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VHDA Gap Loan means that certain loan to the Borrower from VHDA in the original principal amount of $8,490,000.00, which loan is evidenced by the VHDA Loan Documents. The VHDA Gap Loan shall have a term of up to 36 months and bear interest at the rate of 2.050%.
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Examples of VHDA Gap Loan in a sentence

  • There shall be filed any claim of lien (other than liens associated with the VHDA Senior Loan, VHDA Gap Loan, and Property Owner Loan) against the Property of any part thereof, or any interest or right made appurtenant thereto, and the continued maintenance of said claim of lien or notice to withhold for a period of twenty (20) days without discharge, bonding or satisfaction thereof or provision therefor satisfactory to the County Board.

  • Excess Proceeds shall not be distributed until the VHDA Gap Loan has been fully repaid.

  • Borrower covenants and agrees that it shall not incur any debt, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than the (a) AHIF Loan, (b) Senior Lender Loan, (c) VHDA Gap Loan, (d) Subordinate Lender Loan, and (e) advances or trade debt or accrued expenses incurred in the ordinary course of business of operating the Property.

  • The Borrower shall submit to the County Manager or his written designee the same requisition package that the Borrower submits for disbursements under the VHDA Gap Loan and Senior Lender Loan.

Related to VHDA Gap Loan

  • 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”.

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

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

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • 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.

  • 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;

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

  • Daily SOFR Loan means a Loan that bears interest at a rate based on Daily SOFR.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • 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.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • 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.

  • 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.

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • 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.

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Refund anticipation loan means an extension of credit to a taxpayer that a person arranges to be repaid directly from the proceeds of the taxpayer's federal or state personal income tax refund.

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

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

  • 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.

  • SLS Loan means a Loan which was made pursuant to the Supplemental Loans for Students Program established under Section 428A of the Higher Education Act (or predecessor provisions), including Loans referred to as ALAS Loans or Student PLUS Loans.