PDC Loan definition

PDC Loan means a loan of up to $4,700,000 from PDC to the City pursuant to that
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PDC Loan means a loan of up to $4,700,000 from PDC to the City pursuant to that 22 certain Amended and Restated Intergovernmental Agreement dated 23 , 2013, as the same may be re-financed or otherwise modified.
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Examples of PDC Loan in a sentence

  • All amounts received by PDC in connection with any Partial PDC Sales (excluding the amounts required to pay the PDC Loan Mandatory Prepayment Amount with respect to such Partial PDC Sale) may be used by PDC in the ordinary course of its business (including, without limitation, the funding of development and redevelopment activity) and any amounts so used or set aside to be used shall not be Partial PDC Net Proceeds.

  • Notwithstanding the repayment terms for the PDC Loan set forth in Section III.D., if HTC proceeds are received by the City and are available to fully fund the VMC roof replacement, then the PDC Loan repayments shall instead be amortized equally over an eight (8) year period from FY 2017-18 through FY 2024- 25 as indicated in Exhibit C: Schedule B attached hereto.

  • All amounts received by PDC in connection with any Partial PDC Sales (excluding the amounts required to repay the PDC Loan Mandatory Prepayment Amount applicable to such Partial PDC Sale) may be used by PDC in the ordinary course of its business (including, without limitation, the funding of development and redevelopment activity) and any amounts so used or set aside to be used shall not be Partial PDC Net Proceeds.

  • The entire balance of the PDC Loan is due and payable in the event Redeveloper 1) sells the Parking Structure or Building to an entity other than one controlled by Redeveloper and one or more of its equity partners; 2) defaults on the PDC Loan; or 3) defaults under this Agreement prior to receiving a Certificate of Completion.

  • The City agrees to repay PDC for the PDC Loan from net revenues in the Spectator Facilities Fund (“SFF”) after operations costs and other SFF obligations as described in this Section III.C.

  • The PDC Loan shall be subordinate to Redeveloper’s senior private construction and permanent financing.

  • All funds received in refinance in excess of the cost of refinance shall be used first to pay down the PDC Loan.

  • Proceeds of Agency’s portion of Cash Flow shall first pay down interest and then principal on the PDC Loan.

  • Advances under the PDC Grant and the PDC Loan shall be made to the City when and as needed to meet City funding obligations under the RDA.

  • The funds advanced under the PDC Loan shall be used by the City for approved project costs as described in the RDA.