Ministerial Loan Guarantee definition

Ministerial Loan Guarantee means a guarantee provided by Atikameksheng Anishnawbek which is used as security for a bank mortgage.
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Ministerial Loan Guarantee means a guarantee provided by Beausoleil First Nation which is used as security for a bank loan (mortgage).
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Ministerial Loan Guarantee means a guarantee provided by the Okanagan Indian Band which is used as security for the bank mortgage.
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Examples of Ministerial Loan Guarantee in a sentence

  • The third housing program that AANDC administers is the Ministerial Loan Guarantee Program.

  • Officer – The president, secretary, treasurer, or such other officers as may be prescribed by the corporation’s bylaws.

  • Internal Controls over Financial ReportingThe Chief Executive Officer and Chief Financial Officer are responsible for establishing and maintaining adequate internal controls over financial reporting (as defined in National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings of the Canadian securities regulatory authorities) and for the assessment of the effectiveness of our internal control over financial reporting.

  • Concerns were raised by the housing technicians that related to the interim allocations and Ministerial Loan Guarantee eligibility.

  • CMHC provides loan insurance to the approved lender and the loan is secured by a BCR from Council and a Ministerial Loan Guarantee from INAC.

  • A Ministerial Loan Guarantee is a guarantee provided by the Minister of Aboriginal Affairs and Northern Development Canada to a lender to guarantee the repayment of a housing loan made to a Band borrower.

  • Individuals securing financing through a bank will require a Ministerial Loan Guarantee (MLG) from BRFN.

  • A record of the assessment will be kept by the First Nation for the life of the Ministerial Loan Guarantee.

  • Male Female Date of Birth (MM/DD/YYYY) Daytime Phone # Owner Name (First) (Middle Initial) (Last) Owner Taxpayer Identification Number (Check one.) SSN EIN ITIN U.S. Primary Resident Address only – No P.O. Box City State Zip Code If your Mailing Address is different from the Primary Residential Address above, please provide your Mailing Address in Section 10.

  • Ministerial Loan Guarantee (MLGs) - MLGs are used to assist First Nations in accessing loans to finance housing on reserve.


More Definitions of Ministerial Loan Guarantee

Ministerial Loan Guarantee or “MLG” means a written guarantee agreement by the Minister to pay the Lender the balance of the Borrower’s principal and interest of a house loan in the case of default by the Borrower in accordance with the terms and conditions of Order-in-Council P.C. 1999-2000 as may be amended from time to time. This Order-in- Council also authorizes the Minister to collect the amount of that payment made on behalf of the Borrower from First Nation funds.
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Related to Ministerial Loan Guarantee

  • Permitted SBIC Guarantee means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form, provided that the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided in clause (s) of Article VII, it shall be an Event of Default hereunder if any such event or condition giving rise to such recourse occurs).

  • Guaranty means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  • Subsidiary Loan Agreement means the agreement to be entered into between the Borrower and ECTEL pursuant to Section 3.01(b) of this Agreement, as the same may be amended from time to time; and such term includes all schedules to the Subsidiary Loan Agreement;