Developer Financing definition

Developer Financing means the financing to be obtained by the Developer in the amounts necessary to develop the Project in accordance with this Agreement taking into account all other sources, which Developer Financing shall be from a Lender and on commercially reasonable terms and otherwise acceptable to the CRA. Developer Financing shall mean and refer to the Construction Loan for the Project.

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Developer Financing means the private financing obtained by the Developer to pay the Improvement Costs.

Developer Financing means the nonpublic financing of a portion of the costs of the Project by Developer from Developer’s equity and/or conventional loans.

Examples of Developer Financing in a sentence

• The Authority and Developer shall comply with their respective obligations under Exhibit 23 (Developer Financing Arrangements).

• Developer Financing Proposed (Subject to change prior to closing) • Historic Tax Credits • Senior Loan • CRDA • Developer Equity • BSPRA (Deferred Developer Fees) Closing Contingencies • Receipt by Developer of all Permits and Approvals.

• The updated Model Audit Report shall take into account the final terms and conditions of the Developer Financing Agreements and Security Documents.

• Subject to obtaining the Developer Financing, the Developer has the financial and legal ability and can bear the economic risk of financing and achieving Completion of Construction of the Improvements.

• Developer Financing shall be drawn by Developer in the form of reimbursement draws for approved costs.

• Authority’s consent, when applicable, shall be given not less than 15 days prior to the proposed date of Refinancing; provided, however, that there are no material changes in the terms of the relevant Developer Financing Agreements provided to Authority and that Authority has been given reasonable time to provide its review and/or approval.

• In accordance with the Schedule of Performance and the Financing Plan, the Developer shall apply for the LIHTC Reservation (on or before the deadlines set forth in the Schedule of Performance for the Option Period then in effect) and any additional funds to obtain the Developer Financing in an amount to Complete Construction of the Improvements.

• For Developer Financing Agreements that do not have a Lender associated with them, the discount rate(s) shall equal the Certificate Discount Rate.

• With respect to each Development Phase, Authority’s failure to timely deliver an objection or disapproval of the Developer Financing, Construction Documents and Schematic Documents relating to such Development Phase within the time period specified in the Schedule of Performance shall be deemed as Authority’s acceptance of such matters.

• A transfer, if any, of the right to receive principal and interest required to be paid under this Exhibit 23 (Developer Financing Arrangements), may be effected only with the consent of the Authority and by recordation of such transfer on the records of the Authority, and the Authority shall thereafter maintain the records contemplated by the preceding sentence with respect to the transferee.

More Definitions of Developer Financing

Developer Financing means the financing described in Section 10.1 for construction of the Improvements. The Developer Financing must be approved in writing by the Authority as herein provided.

Developer Financing means a Construction Loan (i) from a reputable lender regularly engaged in commercial real estate lending, (ii) which contains such terms as are typical in Broward County for loans similar in size and purpose to the Construction Loan and

Developer Financing means the financing to be obtained by the Developer pursuant to Section 7.2.

Developer Financing means a Construction Loan (i) from a reputable lender regularly engaged in commercial real estate lending, (ii) which contains such terms as are typical in Palm Beach County for loans similar in size and purpose to the Construction Loan and (iii) which contains business terms such as interest rate, terms of repayment, loan to value, guaranty and collateral and equity requirements which are typical in State of Florida for loans similar in size and purpose to the Construction Loan and are otherwise reasonably acceptable to Developer. The Construction Loan Commitment must be provided to the CRA on the date prescribed on the Critical Path.

Developer Financing means third party, private financing obtained by the Developer to pay the Project Costs.

Developer Financing means the financing for construction of the Improvements described in Section 8.0.