Backfill Loan definition

Backfill Loan is supplemental to that certain Loan Agreement (Agreement Number ARRA CA-200_- ) (“Loan Agreement”) between Borrower and the Committee dated , 2010. To the extent not inconsistent with the terms of this Backfill Loan Agreement, the terms of the Loan Agreement are incorporated in this Backfill Loan Agreement.
View Source

Examples of Backfill Loan in a sentence

  • The following capitalized terms generally used in this Backfill Loan Agreement shall have the meanings defined or referenced below.

  • Backfill Loan proceeds shall be disbursed to Borrower upon evidence of eligible costs incurred following completion of the entire Development as evidenced by a temporary Certificate of Occupancy or Notice of Completion issued by the local building authority or seventy-five percent (75%) of the Backfill Loan amount by February 1, 2011 with the remainder following completion of the entire Development as evidenced by a temporary Certificate of Occupancy.

  • Backfill Loan proceeds shall be disbursed to Borrower as follows: forty percent (40%) upon evidence of eligible costs incurred; an additional thirty-five percent (35%) at fifty percent (50%) completion of construction or by February 1, 2011, whichever comes sooner, and twenty-five percent (25%) at completion of the entire Development as evidenced by a final Certificate of Occupancy or Notice of Completion issued by the local building authority.

  • The proceeds of the Backfill Loan, when qualified for disbursement, shall be disbursed to, or for, the benefit or account of Borrower under the terms of this Agreement.

  • Upon receipt of the complete signed Disbursement Request, the Committee shall either (1) authorize the disbursement of Backfill Loan proceeds to Borrower; or (2) notify Borrower in writing within five (5) Business Days of any deficiencies or discrepancies in the Disbursement Request.

  • Section 3.1 Backfill Loan proceeds shall be disbursed to Borrower as follows: forty percent (40%) upon evidence of eligible costs incurred; an additional thirty-five percent (35%) at fifty percent (50%) completion of construction or by February 1, 2011, whichever comes sooner, and twenty-five percent (25%) at completion of the entire Development as evidenced by a final Certificate of Occupancy or Notice of Completion issued by the local building authority.

Related to Backfill Loan

  • Small loan means a loan of less than five thousand dollars ($5,000), not secured

  • 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”.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • PPP Loan means, with respect to any Target Company, the loan made to the Target Company by a bank pursuant to that certain promissory note under the U.S. Treasury’s Paycheck Protection Program (pursuant to the CARES Act).

  • 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.