VHDA Senior Loan definition

VHDA Senior Loan means collectively (a) the Five Million Five Hundred Thousand and 00/100 Dollars ($5,500,000.00) short-term gap loan from VHDA to the Improvements Buyer, and (b) permanent loan in the aggregate principal amount of Six Million Five Hundred Thirty Thousand and 00/100 Dollars ($6,530,000.00) from VHDA to the Improvements Buyer.
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VHDA Senior Loan means the One Million Nine Hundred Thirty Thousand and 00/100 Dollars ($1,930,000.00) first mortgage loan from VHDA to the Borrower, pursuant to the terms of those certain VHDA Loan Documents.
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VHDA Senior Loan means the following permanent loans from VHDA to the Borrower consisting of (a) a loan of [$1,500,000.00], made from the proceeds of the sale of bonds, (b) a loan of [$3,240,000.00] from VHDA’s REACH Plus program, and (c) a loan of [$2,000,000.00] from VHDA’s REACH program, pursuant to the terms of those certain VHDA Senior Loan Documents.
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Examples of VHDA Senior Loan in a sentence

  • If for any reason VHDA accelerates the VHDA Senior Loan, then no later than three (3) business days after delivery of such acceleration notice to Borrower, VHDA will also deliver a copy of such acceleration notice to the County Board by registered or certified mail, postage prepaid, return receipt requested.

  • In the event the County Board has failed to inform VHDA within such sixty (60) day period, then the County Board’s right to purchase or payoff the VHDA Senior Loan shall lapse.

  • 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.

  • If, upon the expiration of such ninety (90) day period, the County Board shall have failed to wire to VHDA the Payoff Amount (defined below), the County Board’s right to exercise such options shall lapse and be of no further force and effect, and VHDA shall be free to accelerate payment of the VHDA Senior Loan or exercise or implement or complete the foreclosure or deed in lieu of foreclosure of the VHDA Deed of Trust.

  • If (A) the County Board can cause a transfer of title to the Property from the defaulting Borrower to either (I) the County Board, (II) an entity the County Board owns or controls, or (III) any other entity selected by the County Board, and (B) the Borrower’s Event of Default is otherwise cured, then VHDA will allow such entity to assume the VHDA Senior Loan.

  • If the County Board or its designee informs VHDA within the aforesaid sixty (60) days that the County Board will place on its meeting agenda a proposal to take such actions as are necessary to purchase or payoff the VHDA Senior Loan, then the County Board shall have ninety (90) days from the date of said communication with VHDA to actually purchase or payoff the VHDA Senior Loan.

  • Upon receipt of a written notice of acceleration from VHDA pursuant to Section 6.a.ii., the County Board shall have sixty (60) days to inform or cause a designee to inform VHDA whether the County Board will place on its meeting agenda a proposal to take such actions as are necessary to purchase or payoff the VHDA Senior Loan.

  • The County Board acknowledges and agrees that if there are events of default under either of the VHDA Notes, it must exercise its remedies under this Section 5.b.i and/or Section 5.b.ii with respect to the VHDA Senior Loan within such ninety (90) day period if the County Board is to prevent VHDA from exercising the remedies permitted under the VHDA Deed of Trust and other loan documents.

  • Upon receipt of a written notice of acceleration from VHDA pursuant to Section 5.a.ii., the County Board shall have sixty (60) days to inform or cause a designee to inform VHDA whether the County Board will place on its meeting agenda a proposal to take such actions as are necessary to purchase or payoff the VHDA Senior Loan.

  • The County Board acknowledges and agrees that if there are events of default under either of the VHDA Notes, it must exercise its remedies under this Section 6.b.i and/or Section 6.b.ii with respect to the VHDA Senior Loan within such ninety (90) day period if the County Board is to prevent VHDA from exercising the remedies permitted under the VHDA Deed of Trust and other loan documents.

Related to VHDA Senior Loan

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Senior Loan Agreement means that certain Term Loan Agreement, dated as of June 26, 2015, by and among Borrower and Senior Lenders, as amended, restated, supplemented or otherwise modified from time to time.

  • Junior Loan has the meaning provided in the Recitals hereto.

  • Bridge Loan Any loan or other obligation that (x) is incurred in connection with a merger, acquisition, consolidation, or sale of all or substantially all of the assets of a Person or similar transaction and (y) by its terms, is required to be repaid within one year of the incurrence thereof with proceeds from additional borrowings or other refinancings (it being understood that any such loan or debt security that has a nominal maturity date of one year or less from the incurrence thereof but has a term-out or other provision whereby (automatically or at the sole option of the Obligor thereof) the maturity of the indebtedness thereunder may be extended to a later date is not a Bridge Loan).

  • Senior Loans means the loans and other extensions of credit made by the Senior Lenders to Borrower pursuant to the Senior Credit Agreement.

  • 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”.

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

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

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • 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).

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

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • First Lien Last Out Loan Any Collateral Obligation that would be a Senior Secured Loan except that, following a default, such Collateral Obligation becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Permitted Junior Priority Refinancing Debt means secured Indebtedness incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or debentures or second lien (or other junior lien) secured loans; provided that (i) such Indebtedness is secured by all or a portion of the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and any other First Lien Obligations and is not secured by any property or assets of Holdings, the Borrower or any Restricted Subsidiary other than the Collateral, (ii) such Indebtedness satisfies the applicable requirements set forth in the provisos in the definition of “Credit Agreement Refinancing Indebtedness” (provided that such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and any other First Lien Obligations, notwithstanding any provision to the contrary contained in the definition of “Credit Agreement Refinancing Indebtedness”), (iii) the holders of such Indebtedness (or their representative) and the Administrative Agent and/or the Collateral Agent shall be party to a Customary Intercreditor Agreement, and (iv) such Indebtedness is not at any time guaranteed by any Subsidiaries of the Borrower other than Subsidiaries that are Guarantors.

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.

  • Permitted First Priority Refinancing Debt means any secured Indebtedness incurred by the Borrower in the form of one or more series of senior secured notes or senior secured loans; provided that (i) such Indebtedness is secured by the Collateral on a pari passu basis with the Obligations and is not secured by any property or assets of Holdings and its Subsidiaries other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, (iii) such Indebtedness does not mature prior to the Maturity Date of the Refinanced Debt and such Indebtedness shall have a Weighted Average Life to Maturity that is not shorter than the Refinanced Debt, (iv) to the extent applicable, the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) no Restricted Subsidiary guarantees such Indebtedness unless it is a Subsidiary Guarantor (or becomes a Subsidiary Guarantor substantially concurrently with the incurrence of such Indebtedness); provided that, if, at any time, such Restricted Subsidiary ceases to be a Guarantor, it shall not guarantee such Indebtedness, (vi) the other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, premiums, optional prepayment or optional redemption provisions) reflect market terms and conditions at the time of incurrence and issuance; provided, that, to the extent such terms and documentation are not substantially identical to the Indebtedness being refinanced, (x) such terms (taken as a whole) shall be less favorable to the providers of such Permitted First Priority Refinancing Debt than those applicable to the Indebtedness being refinanced, except, in each case, for financial or other covenants or other provisions contained in such Indebtedness that are applicable only after the then Latest Maturity Date, or (y) such documentation shall be reasonably acceptable to the Administrative Agent and (vii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to a Pari Passu Intercreditor Agreement and the Administrative Agent shall have become a party to the Pari Passu Intercreditor Agreement (or any then-existing Pari Passu Intercreditor Agreement shall have been amended or replaced in a manner reasonably acceptable to the Administrative Agent, which results in such Senior Representative having rights to share in the Collateral as provided in clause (i) above). Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Debt Obligations means any debt obligations issued or guaranteed by the Government of Japan.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Additional First Lien Documents means, with respect to any Series of Additional First Lien Obligations, the notes, credit agreements, indentures, security documents and other operative agreements evidencing or governing such Indebtedness, and each other agreement entered into for the purpose of securing any Series of Additional First Lien Obligations.

  • 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.

  • debt obligation means a public security, as defined by Government Code 1201.002, secured by and payable from ad valorem taxes. The term does not include public securities that are designated as self-supporting by the political subdivision issuing the securities. Gov’t Code 1251.051(1)

  • Bridge Loan Agreement means that certain Senior Unsecured Interim Loan Agreement, dated as of December 20, 2007, among Tribune, the Bridge Lenders, the Former Bridge Loan Agent, JPMorgan Chase Bank, N.A., as syndication agent, and Citicorp North America, Inc. and Bank of America, N.A., as co-documentation agents, as amended, restated, supplemented or otherwise modified from time to time.

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.