Initial Permanent Phase Credit Facility definition

Initial Permanent Phase Credit Facility means the Fannie Mae Credit Enhancement Instrument, dated the Conversion Date, between the Initial Permanent Phase Credit Facility Provider and the Trustee, as the same may be amended, modified or supplemented from time to time.
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Examples of Initial Permanent Phase Credit Facility in a sentence

  • Any other investment authorized by the laws of the State, if such investment is approved in writing by the Initial Permanent Phase Credit Facility Provider and each Rating Agency.

  • If approved in writing by the Initial Permanent Phase Credit Facility Provider, a money market mutual fund portfolio may also contain obligations and agreements to repurchase obligations described in paragraphs (b) or (c).

  • In addition, during the term of the Initial Permanent Phase Credit Facility, the Trustee, at the direction of the Corporation, shall obtain moneys under the Credit Facility in accordance with the terms thereof, in amounts specified by the Corporation to pay such portion of the Administrative Fee due and owing to the Corporation that has not been paid by the Mortgagor pursuant to the Loan Agreement, and shall promptly transfer all such amounts to the Corporation.

  • No change in applicable law has occurred which would materially adversely affect the transaction to be effected under the Forward Commitment, the Construction Phase Financing Agreement or other Reimbursement Security Documents (as defined in the Initial Permanent Phase Reimbursement Agreement) or the Initial Permanent Phase Credit Facility Provider’s ability to deliver the Initial Permanent Phase Credit Facility.

  • The Borrower has provided evidence to the Initial Permanent Phase Credit Facility Provider that the Borrower will or has received all equity contributions to be delivered to the Borrower as of the Conversion Date.

  • The Initial Permanent Phase Credit Facility Provider has approved the manager of the Development.

  • Conversion will occur on the Conversion Date, and on such date the Initial Permanent Phase Credit Facility Provider will deliver the Initial Permanent Phase Credit Facility to the Trustee on the Conversion Date, and the documents listed in the Construction Phase Financing Agreement will be executed and delivered.

  • The Borrower and the Trustee have agreed to execute an acknowledgement of the Construction Phase Credit Facility Agreement pursuant to which the Initial Construction Phase Credit Facility Provider has assigned all of its rights and interests in the Bond Mortgage Loan Documents (other than indemnification rights) and the Bond Documents, to the Initial Permanent Phase Credit Facility Provider.

  • The Initial Permanent Phase Credit Facility Provider and the Servicer have received a final form of an opinion of counsel to the Borrower in form and substance acceptable to the Initial Permanent Phase Credit Facility Provider and the Servicer.

  • The Trustee and the Issuer have received a final form of a then current opinion of Bond Counsel to the effect that the substitution of the Initial Permanent Phase Credit Facility for the Initial Construction Phase Credit Facility and the occurrence of Conversion is permitted by the Indenture and will not adversely affect the excludability from gross income, for federal income tax purposes, of the interest payable on the Bonds.

Related to Initial Permanent Phase Credit Facility

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.7.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • Credit Facility Agreement means the Credit Facility and Reimbursement Agreement dated as of May 1, 2003, between the Bond Bank and the Bank providing for the timely payment, when due, of a portion of the principal of and interest on the Notes, all subject to such conditions and under such terms as described in Article X of the Indenture.

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

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

  • New Credit Facility is defined in Section 9.8.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

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

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18.

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Existing Credit Facility means the credit facility evidenced by that certain Credit Agreement, dated as of October 26, 2006, by and among the Borrower, the lenders party thereto, and JPMCB, as administrative agent, as amended.

  • ABL Credit Facility means the agreement, dated as of March 30, 2015, among the Company, the Subsidiaries of the Company that borrow or guarantee obligations under such agreement from time to time, as “Credit Parties,” the lenders parties thereto from time to time and Bank of America, N.A., as agent (or its successor in such capacity), together with the related notes, letters of credit, guarantees and security documents, and as the same may be amended, restated, amended and restated, supplemented or modified from time to time and any renewal, increase, extension, refunding, restructuring, replacement or refinancing thereof (whether with the original administrative agent and lenders or another administrative agent, collateral agent or agents or one or more other lenders or additional borrowers or guarantors and whether provided under the original ABL Credit Facility or one or more other credit or other agreements or indentures).

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).