Gap Loans definition
Gap Loans means Junior Mortgage Loans made or acquired by the Trust to finance the difference between the minimum amount which a permanent lender has agreed to fund and the maximum amount which such permanent lender would fund if certain occupancy, rental or other requirements are met.
Examples of Gap Loans in a sentence
Except for Developer Gap Loans and except as otherwise expressly authorized or required in this Agreement, no Member shall be obligated or authorized to lend or advance money to the Company.