DFA Loan definition

DFA Loan has the meaning set forth in Exhibit 23 (Developer Financing Arrangements).
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Examples of DFA Loan in a sentence

  • The Authority hereby promises to pay to Developer, from the sources of payment specified in Section 1.07 of this Exhibit 23 (Developer Financing Arrangements), the principal of the DFA Loan in monthly installments payable on each Payment Date in the amounts set forth and otherwise in accordance with the Loan Amortization Schedule, subject to any set-off of DFA Offset Amounts permitted under Section 1.09.

  • Each of Developer and the Authority shall maintain, in accordance with its customary record-keeping practices, records evidencing the outstanding indebtedness of the Authority to Developer resulting from the DFA Loan, including the amounts of principal and interest payable and paid to Developer from time to time hereunder.

  • Accordingly, the Parties agree that neither amount is required to be physically transferred to each other and that each Party will be deemed to have set off the amount due from the other Party against the amount payable to the other Party on the Substantial Completion Date, such that the Authority will have paid the DFA Satisfaction Amount to Developer on the Substantial Completion Date and Developer will have advanced the DFA Loan to the Authority on the Substantial Completion Date.

  • Each of the Authority and Developer acknowledges that the DFA Satisfaction Amount and the DFA Loan are equivalent financial amounts, due to be paid by it, respectively, to the other Party on the same date.

  • For the avoidance of doubt, the DFA Loan shall remain outstanding and be repaid as set forth herein, including without limitation as set forth in Section 1.04 of this Exhibit 23.

  • Accrued interest on the DFA Loan shall be payable monthly in arrears on each Payment Date in accordance with the Loan Amortization Schedule and shall be computed in accordance with Section 1.08 of this Exhibit 23 (Developer Financing Arrangements).

  • The obligation of Developer to advance the DFA Loan in accordance with Section 1.02 of this Exhibit 23 (Developer Financing Arrangements) shall be subject to the condition precedent that Developer has received the Certificate of Substantial Completion from the Authority, which condition may only be waived by both Developer and the Authority in writing.

  • Each of Developer and the Authority intend that the DFA Loan constitute an obligation that is in “registered form” within the meaning of Section 871(h) of the Internal Revenue Code and the Treasury Regulations promulgated thereunder and shall interpret the provisions of this Section 1.06 in a manner consistent therewith.

Related to DFA Loan

  • 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.

  • ▇▇▇▇▇▇▇▇ Loan means a Subsidized ▇▇▇▇▇▇▇▇ Loan or an Unsubsidized ▇▇▇▇▇▇▇▇ Loan.

  • 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).

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.