National Portfolio Loan Facility definition

National Portfolio Loan Facility means a loan facility to be provided to the Partnership by a Canadian chartered bank or a subsidiary of a Canadian chartered bank to finance the payment of the National Portfolio’s share of the Agents’ fees, expenses of this Offering and the Operating Reserve.
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Examples of National Portfolio Loan Facility in a sentence

  • The Agents’ fees payable in connection with the sale of National Class Units will be paid by the Partnership from monies made available under the National Portfolio Loan Facility and are not expected by the General Partner to be deductible in computing income of the Partnership pursuant to the Tax Act until the amount borrowed is repaid.

  • To the extent that these expenses are funded by the National Portfolio Loan Facility (including the National Portfolio’s share of expenses funded by the Operating Reserve), the unpaid principal amount and interest thereon will be a Limited Recourse Amount of the Partnership and the Limited Partners.

  • The calculations assume there are capital gains realized on the sale of assets of the Partnership in order to repay money borrowed under the National Portfolio Loan Facility and to pay operating and administrative expenses in excess of the Operating Reserve, as described in Note (3).

  • The proceeds to the Partnership from the National Portfolio Loan Facility are assumed to be used to pay the National Portfolio’s share of the Agents’ fees and Offering expenses (including travel and sales expenses including taxes) and fund the National Portfolio’s share of the Operating Reserve.

  • An amount equal to 2.25% of the Gross Proceeds will, in the case of the National Portfolio, be borrowed under the National Portfolio Loan Facility and, in the case of the Québec Portfolio, be set aside from the proceeds from the sale of Québec Class Units, as an Operating Reserve to fund the ongoing estimated general administrative and operating expenses of the Partnership (including the National Portfolio’s share of the General Partner’s Fee).

  • Fees and expenses paid using the proceeds of the National Portfolio Loan Facility are not deductible in computing the income of the Partnership pursuant to the Tax Act while the National Portfolio Loan Facility remains outstanding.

  • The National Portfolio’s share of the Agents’ fees and other Offering expenses will be paid by the Partnership from the proceeds of the National Portfolio Loan Facility, and the Québec Portfolio’s share of these fees and expenses will be paid from the proceeds from the sale of Québec Class Units.

  • In this case, the gross proceeds of the National Class Units will be $5,000,000, the Agents’ fees will be $287,500, the Offering expenses will be $100,000, the net proceeds to the Partnership will be $4,612,500, the Operating Reserve will be $112,500, the proceeds from the National Portfolio Loan Facility will be $500,000 and the Available Funds will be $5,000,000.

  • The Partnership will pay the expenses related to the Offering of up to 2% of the gross proceeds of the Offering (for a total of $100,000 in the case of the minimum Offering and $500,000 in the case of the maximum Offering of each Class of Units) in the case of the National Portfolio from monies made available under the National Portfolio Loan Facility and in the case of the Québec Portfolio from the proceeds from the sale of Québec Class Units.

  • The Partnership will pay the expenses related to the Offering of up to 2% of the gross proceeds of the Offering (for a total of $100,000 in the case of the minimum Offering and $400,000 in the case of the maximum Offering of each Class of Units) in the case of the National Portfolio from monies made available under the National Portfolio Loan Facility and in the case of the Québec Portfolio from the proceeds from the sale of Québec Class Units.

Related to National Portfolio Loan Facility

  • Collateral Portfolio means all right, title, and interest (whether now owned or hereafter acquired or arising, and wherever located) of the Borrower in the property identified below in clauses (i) through (iv) and all accounts, cash and currency, chattel paper, tangible chattel paper, electronic chattel paper, copyrights, copyright licenses, equipment, fixtures, contract rights, general intangibles, instruments, certificates of deposit, certificated securities, uncertificated securities, financial assets, securities entitlements, commercial tort claims, deposit accounts, inventory, investment property, letter-of-credit rights, software, supporting obligations, accessions, or other property consisting of, arising out of, or related to any of the following (in each case excluding the Retained Interest and the Excluded Amounts):

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Securitization Facility means any of one or more receivables or securitization financing facilities as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, the Obligations of which are non-recourse (except for customary representations, warranties, covenants and indemnities made in connection with such facilities) to the Issuer or any of its Restricted Subsidiaries (other than a Securitization Subsidiary) pursuant to which the Issuer or any of its Restricted Subsidiaries sells or grants a security interest in its accounts receivable or Securitization Assets or assets related thereto to either (a) a Person that is not a Restricted Subsidiary or (b) a Securitization Subsidiary that in turn sells its accounts receivable to a Person that is not a Restricted Subsidiary.

  • Loan Assets means, collectively and as applicable, the Initial Loan Assets, the Substitute Loan Assets and the Additional Loan Assets, as applicable.

  • Note A-1 Securitization Date means the closing date of the Note A-1 Securitization.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Initial Portfolio means the initial portfolio of Receivables, comprising Eligible Assets, purchased by the Guarantor from the Seller pursuant to the Master Loans Purchase Agreement.

  • Note A-2 Securitization Date means the closing date of the Note A-2 Securitization.

  • Note A-1 Securitization means the first sale by the Note A-1 Holder of all or a portion of Note A-1 to a depositor who will in turn include such portion of Note A-1 as part of the securitization of one or more mortgage loans.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Note A-2 Securitization means the first sale by the Note A-2 Holder of all or a portion of Note A-2 to a depositor who will in turn include such portion of Note A-2 as part of the securitization of one or more mortgage loans.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Note A-3 Securitization Date means the closing date of the Note A-3 Securitization.

  • Note A-4 Securitization Date means the closing date of the Note A-4 Securitization.

  • Note A-6 Securitization Date means the closing date of the Note A-6 Securitization.

  • Portfolio Assets means the portion of the net assets of the Fund managed by the Sub-Adviser pursuant to the following investment strategy as agreed to by the Adviser and the Sub-Adviser in a separately negotiated investment mandate: Emerging Markets (each a “Strategy”).

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-11 Certificates required to be distributed to Holders of the Class I-A-11 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-11 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-11 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of February 14, 2020, between the Borrower, as borrowers, and the Original Lenders, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Portfolio Asset means an asset of an investment fund;

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Loan Asset means each commercial loan identified on Schedule A hereto, and each commercial loan identified on any Purchase Notice.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.