Condo Loan definition

Condo Loan means a Mortgage Loan that (i) does not conform to the requirements of an Agency for securitization or cash purchase, (2) conforms to the requirements of the EverBank Preferred Correspondent guidelines for the purchase of a condominium loan that is not eligible for securitization or cash purchase by an Agency, and (3) is subject to a Takeout Commitment by Buyer.
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Condo Loan means the mortgage loan in the original principal amount of $213,300 made available to the Borrower by Landmark Savings Bank, FSB, a federal savings bank, on or about May 1, 2003, of which $206,055.00, is outstanding on the date hereof.
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Condo Loan means that certain loan in the amount of $29,078,500.00 from the Company to Xxxxx Investor.
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Examples of Condo Loan in a sentence

  • In 2015, TAF advanced $750,000 as a "Green Condo Loan" to Cathedral Hill (Windmill Developments) in care of OCLCC No. 973 for a highly energy-efficient condominium project called Cathedral Hill in Ottawa.

  • This "Green Condo Loan" is secured by a general security agreement and matures in September 2026.

  • In September 2015, TAF advanced $750,000 as a "Green Condo Loan" to Cathedral Hill (Windmill Developments) in care of OCLCC No. 973 for a highly energy-efficient condominium project called Cathedral Hill in Ottawa.

  • This "Green Condo Loan" is repayable in blended monthly installments of $3,321, maturing September 2026.

  • Sumit Agarwal, Yongheng Deng, Chenxi Luo and Wenlan Qian, (2016) “The Hidden Peril: The Role of the Condo Loan Market in the Recent Financial Crisis,” Review of Finance, 20(2), 467- 500.

  • The Committee considered the transaction to provide up to $750,000 in financing, structured as a Green Condo Loan, to Windmill Development Group for their Ottawa condominium development, Cathedral Hill.

  • These are the provisions governing the implementation of the Beef Data Programme for Suckler Producers in Ireland for 2013.

  • The Xxxxx Investor satisfied its Initial Capital Contribution by contributing to the capital of the Company the Property and other assets pursuant to the Contribution Agreement, subject to the Condo Loan.

  • Defendant, Daniel Yarrington (“Yarrington”), is a New Hampshire resident and owner and Chief Executive Officer of Myriad Games, L.L.C. (“Myriad”), a New Hampshire Limited Liability Company.

  • It was not always clear if this was a precipitating factor or a consequence, but it was known that there was a correlation.

Related to Condo 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”.

  • Existing Loan means the loan identified on Exhibit H.

  • 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.

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

  • 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.

  • Mezzanine Loan means a mezzanine loan secured by equity interests in the Mortgage Loan Borrower.

  • 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.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Future Advance means an Advance made after the Initial Closing Date.

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

  • Mezzanine Loans means, collectively, the First Mezzanine Loan, the Second Mezzanine Loan, the Third Mezzanine Loan, the Fourth Mezzanine Loan, the Fifth Mezzanine Loan, the Sixth Mezzanine Loan, the Seventh Mezzanine Loan, the Eighth Mezzanine Loan, the Ninth Mezzanine Loan and any New Mezzanine Loan.

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

  • New Loan means a Loan made by the Failed Bank after the Bid Valuation Date that is not a continuation, amendment, modification, renewal, extension, refinancing, restructuring or refunding of or for any then-existing Loan.

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

  • Jumbo Loan means a Mortgage Loan that conforms to (i) all of the Agency Guidelines’ requirements for a Conventional Conforming Loan except that its original principal amount exceeds the maximum allowed by Agency Guidelines and (ii) the maximum CLTV and minimum FICO Score criteria specified on Schedule II.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.

  • Real Estate Loan means any debt obligation that is (a) directly or indirectly secured by a mortgage, deed of trust or similar Lien on commercial real estate, residential real estate, office, retail or industrial property or undeveloped land, is underwritten as a mortgage loan and is not otherwise associated with an operating business or (b) a loan to a company engaged primarily in acquiring and developing undeveloped land (whether or not such loan is secured by real estate).

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

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

  • Subloan means a loan made or proposed to be made partially out of the proceeds of the Loan by a Participating Bank to a Beneficiary (as such term is hereinafter defined) under Parts D and I of the Project for the financing of the investments and associated working capital under Subprojects (as such term is hereinafter defined);

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

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • 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.