VHDA Permanent Loan definition

VHDA Permanent Loan means first-priority lien permanent loan in the aggregate principal amount of Fifteen Million Two Hundred Thousand and 00/100 Dollars ($15,200,000.00) from VHDA to the Borrower, pursuant to the terms of those certain VHDA Permanent Loan Documents.
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VHDA Permanent Loan means those certain first-priority loans to the Borrower from VHDA in the aggregate principal amount of $10,572,000. The VHDA Permanent Loan shall have a term of 420 months, and bear interest at the all-in permanent rate of %. The aggregate principal of the VHDA Permanent Loan will be funded as follows: (i) $2,772,000 will be funded from the proceeds of the VHDA Rental Housing Resources Enabling Affordable Community Housing (“REACH”) Strategic Program and will accrue interest at a permanent rate of 2.95%, (ii)$2,000,000 will be funded from the proceeds of the LMATCH Program and will accrue interest at a permanent rate of 1.95%%, and (iii) $5,800,000 will be funded from the proceeds of a VHDA taxable bond issuance and will accrue interest at a permanent rate of %. All outstanding principal and accrued but unpaid interest (if any) on the VHDA Permanent Loan shall be due and payable by the Borrower on or before the VHDA Permanent Loan Maturity Date.
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VHDA Permanent Loan means first-priority lien permanent loan in the aggregate principal amount of at least $9,245,000.00 made by VHDA to the Borrower, with a term of 35 years, and bearing interest at the all-in rate of 3.955%. A portion of the proceeds ($3,550,000.00) of the VHDA Permanent Loan are funded from the proceeds of the Rental Housing Resources Enabling Affordable Community Housing (“REACH”) Strategic Program, and accrues interest at a rate of 2.95%. A portion of the proceeds ($2,000,000.00) of the VHDA Permanent Loan are funded from the proceeds of the REACH L Match Program, and accrues interest at a rate of 1.95%. The remainder of the proceeds ($3,695,000.00) of the VHDA Permanent Loan are funded from the proceeds of a VHDA taxable-bonds issuance, and accrues interest at a rate of 5.789%.
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Examples of VHDA Permanent Loan in a sentence

  • The County Board hereby agrees to subordinate the lien and operation of its County Deed of Trust to the liens of the deeds of trust related to the VHDA Permanent Loan by executing the Subordination Agreement.

  • Subject to the Borrower’s obligations and covenants under Article IV of this Agreement, which shall survive for the full term of the AHIF Affordability Compliance Period, the AHIF Loan and this Agreement shall have a term of at least thirty-seven (37) years and six (6) months that expires on October 1, 2056; provided, however, the term of the AHIF Loan and this Agreement shall not expire prior to the VHDA Permanent Loan Maturity Date (the “Term”).


More Definitions of VHDA Permanent Loan

VHDA Permanent Loan means those certain first-priority loans to the Borrower from VHDA in the aggregate principal amount of $16,340,000.00. The VHDA Permanent Loan shall have a term of 420 months, and bear interest at the all-in permanent rate of 3.132%. The aggregate principal of the VHDA Permanent Loan will be funded as follows: (i) $7,945,000.00 will be funded from the proceeds of the VHDA Rental Housing Resources Enabling Affordable Community Housing (“REACH”) Strategic Program and will accrue interest at a permanent rate of 2.950%,
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Related to VHDA Permanent Loan

  • Permanent Loan means any permanent loan provided by the Permanent Lender to the Partnership pursuant to the terms of the Permanent Loan Documents.

  • 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.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that such loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Cov-Lite Loan A Collateral Obligation the Underlying Documents for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Documents); provided that, notwithstanding the foregoing, a Collateral Obligation shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Obligation) not to be a Cov-Lite Loan if the Underlying Documents for such Collateral Obligation contain a cross-default or cross acceleration provision to, or such Collateral Obligation is pari passu with, another loan, debt obligation or credit facility of the underlying Obligor that contains one or more Maintenance Covenants.

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

  • 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.

  • Revolving Loan Agreement means that certain Amended and Restated Loan and Security Agreement dated as of the date hereof by and among the Borrower, the lenders from time to time party thereto and the Revolving Loan Administrative Agent.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • 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.

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

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

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

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • 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.

  • Delayed Draw Term Lender means, at any time, any Lender that has a Delayed Draw Term Commitment or a Delayed Draw Term Loan at such time.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.

  • Loan Advance The meaning specified in Section 2.2(a).