PLP Loan definition
PLP Loan means a direct loan from the Predevelopment Loan Program.
Examples of PLP Loan in a sentence
As additional consideration for the Membership Interests, the Member will be eligible to receive from the Purchaser additional payments, in accordance with this Section 2.4, with respect to (a) the SLX Loan Application A/R, the PLP Loan Application A/R and the Closing Date A/R (collectively, the “Additional A/R Consideration”), and (b) the Additional Cash Payment.
Within five (5) calendar days of the Closing Date, the Purchaser shall make a cash payment to the Member in an amount equal to the product of (a) the PLP Loan Application A/R and (b) 60%.