HUD Debt definition
HUD Debt means Non-Recourse Debt secured by real property of the Company or any of its Restricted Subsidiaries, guaranteed by the United States Department of Housing and Urban Development.
Examples of HUD Debt in a sentence
Subject to any limitations and covenants imposed by the HUD Debt of the HUD Subsidiaries or any applicable HUD regulations, within ten (10) calendar days after the date such distributions are permitted in the HUD Debt documents (but no more often than each calendar quarter), cause each HUD Subsidiary to distribute to the Parent an amount equal to all of such HUD Subsidiary’s Excess Cash Flow.