Interest Allowance definition

Interest Allowance means an annual rate mutually agreed upon by the Parties which is intended to represent a reasonable borrowing cost taking into account current market conditions. [REDACTED]
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Interest Allowance means the sum of $16,479,768.32 identified on the Cost Breakdown in the “Interest Reserve” Budget Line Item and subject to disbursement in accordance with the provisions of Section 10.6 of this Loan Agreement.
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Interest Allowance means an interest allowance determined in accordance with section 8;
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Examples of Interest Allowance in a sentence

  • Each such Disbursement from the Interest Allowance shall constitute a Disbursement of Loan Proceeds and shall increase the principal amount of the Loan by an amount equal to such Disbursement, however, no such Disbursement shall count as a Funding Requisition under Section 12.2(b).

  • The Interest Allowance has been allocated from the proceeds of the Loan.

  • Nevertheless, the creation of the Interest Allowance shall not release Borrower from its contractual obligation to pay interest under the terms of the Note to the extent the Interest Allowance is insufficient to pay all of the interest under the Note nor shall Lender be obligated under the terms of this Loan Agreement or the Loan Documents to use the Interest Allowance for the payment of accrued interest after the occurrence and during the continuance of an Event of Default.

  • Provided that no Event of Default has occurred and is continuing and the loan is In Balance, sums from the Interest Allowance shall be advanced by Lenders as needed for the exclusive purpose of paying accrued interest as it comes due under the Note.

  • The foregoing sums shall be so used until such time as the Interest Allowance has been exhausted, so long as no Event of Default has occurred and is continuing.

Related to Interest Allowance

  • Monthly Interest means, with respect to any Distribution Date, the Class A Monthly Interest, the Class B Monthly Interest and the Collateral Minimum Monthly Interest for such Distribution Date.

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).

  • Class A-2 Monthly Interest means (i) for the initial Distribution Date, $397,901.11, and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-2 Rate and (B) the outstanding principal balance of the Class A-2 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-2 Notes on or before such preceding Distribution Date).