HUD Commitment definition

HUD Commitment means a commitment letter or letter of intent entered into on or before July 2, 2014, by a lender insured by HUD and Borrower that contemplates the funding of a HUD Loan, in an amount sufficient to repay the Loan in full, to Borrower on or before July 2, 2015.

Examples of HUD Commitment in a sentence

  • Public housing and Mod Rehab projects applying under the first (competitive) component of RAD that have received a HUD Commitment to Enter into a HAP Contract (CHAP).

  • Borrower shall not borrow any money for the acquisition of healthcare real estate asset(s) or refinancing of the Loan (other than obtaining a HUD Commitment and any related funding) without first providing Administrative Agent and Lenders with written notice of the intention to incur said financing, which notice shall contain all terms and conditions of the offered and contemplated financing to be obtained from a third party (“Financing Notice”).

  • At December 31, 2017 and 2016, the Partnership held restricted cash balances related to security deposits and funding established by the HUD Commitment for Insurance of Advances.

  • An applicant may consider initiating the Phase I Report process as early as possible in order to identify any issues that could delay or impede the receipt of a HUD Commitment.

  • At December 31, 2020 and 2019, the Partnership held restricted cash balances related to security deposits and funding established by the HUD Commitment for Insurance of Advances.

  • As of December 31, 2021 and 2020, the Company held restricted cash balances related to security deposits and funding established by the HUD Commitment of Insurance of Advances (the “Commitment”).

  • The session scheduled for Thursday, November 5, 2015, Program Adjustments to HUD Commitment Requirements, is a mandatory session for PY 2014 and PY 2015 grant administrators.

  • This assumes that perfect decisions are made by investors and policy makers – in reality this does not always happen.A useful example of this is the Inverkip power station on the Clyde.

  • If, on or before September 13, 2013, Borrower provides Administrative Agent with a HUD Commitment, then Administrative Agent shall place, following receipt thereof, the scheduled installment of principal due and payable with respect to the Loan on October 1, 2013, into a reserve (the “HUD Fund”) in lieu of releasing such installment to Lenders for application to the outstanding principal balance of the Loan, provided the HUD Conditions are satisfied on such date.

  • Subject to approval by HUD in accordance with the HUD Commitment Letter (as defined below), the schedule for repaying the Loan shall be as set forth in this Section 2.3. Absent any default or acceleration, Borrower shall initially make quarterly payments to COUNTY of interest only, payable at least eleven working days in advance of the first day of each calendar quarter.

Related to HUD Commitment

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Existing Commitment shall have the meaning provided in Section 2.17.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Group Commitment means with respect to any Purchaser Group the aggregate of the Commitments of each Purchaser within such Purchaser Group.

  • L/C Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.23.

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Initial Commitment means, in relation to an Initial Senior Noteholder, the amount set out in the relevant Senior Noteholder Fee Letter.

  • Total Loan Commitment means as to any Lender the aggregate commitments of such Lender with respect to its Revolving Loan Commitment and Term Loan Commitment.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Loan Commitment has the meaning set forth in Section 2.1.

  • Revolving Commitment Fee has the meaning specified in Section 2.09(a).

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”

  • Aggregate Revolving Commitment means the sum of the Revolving Commitments of all the Revolving Lenders.

  • Undrawn Commitment means, with respect to any Revolving Lender at any time, an amount (which may not be less than zero) equal to (i) such Lender’s Revolving Commitment at such time minus (ii) the aggregate outstanding principal amount of Revolving Loans held by such Revolving Lender at such time.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Canadian Revolving Commitment means the commitment of a Lender to make or otherwise fund any Canadian Revolving Loan and to acquire participations in Canadian Letters of Credit and Swing Line Loans hereunder and “Canadian Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Canadian Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Canadian Revolving Commitments as of the Restatement Date is $10,000,000.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Revolving Commitment Amount means $125,000,000, as reduced from time to time pursuant to Section 6.1.

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • U.S. Commitment means, with respect to each U.S. Lender, the commitment, if any, of such U.S. Lender to make U.S. Revolving Loans and to acquire participations in U.S. Letters of Credit, U.S. Overadvances and U.S. Swingline Loans hereunder, expressed as an amount representing the maximum possible aggregate amount of such U.S. Lender’s U.S. Revolving Exposure hereunder, as such commitment may be reduced or increased from time to time pursuant to (a) Section 2.09 and (b) assignments by or to such U.S. Lender pursuant to Section 9.04. The initial amount of each U.S. Lender’s U.S. Commitment is set forth on the Revolving Commitment Schedule, or in the Assignment and Assumption pursuant to which such U.S. Lender shall have assumed its U.S. Commitment, as applicable. The U.S. Commitment is a sub-facility of the Revolving Commitment and is not in addition to the Revolving Commitment.

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).