Examples of Predevelopment Loan in a sentence

From the date of initial disbursement of the Predevelopment Loan Proceeds to Borrower, the unpaid principal balance on the Predevelopment Loan shall accrue simple interest at the rate of three percent (3%) per annum.
The proceeds of the Predevelopment Loan (the “Predevelopment Loan Proceeds”) shall not be disbursed unless and until Borrower has supplied the City with such documentation as the City deems necessary to substantiate the payment of the Predevelopment Loan for eligible uses, as set forth in Section 2.1.2, below.
This promissory note (the "Predevelopment Note") evidences Borrower's obligation to pay City the principal sum of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00) (“Predevelopment Loan”) plus interest thereon for the funds loaned to Borrower by City to finance certain predevelopment costs associated with the development of the Project pursuant to the Predevelopment Loan Agreement (the "Agreement") between Borrower and City of approximately even date herewith.
The Predevelopment Loan shall bear simple interest at the rate of three percent (3%) simple interest per annum from the date of initial disbursement.
The Predevelopment Note shall evidence the repayment obligations by Borrower of the Predevelopment Loan.

More Definitions of Predevelopment Loan

Predevelopment Loan means the loan of HOME Funds referred to the Recitals of the Original Agreement and this First Amendment in a loan amount up to $585,257 to be provided by the City to Developer for the Eligible Predevelopment Expenses and as itemized in Exhibit A to the Original Agreement.

Predevelopment Loan means the loan made by PDC to Developer described in Section 6.2 herein.

Predevelopment Loan means a loan for required expenses, other than administrative and construction, that are incurred by qualifying affordable housing developers in the process of, and prior to, securing long-term financing for construction, conversion, preservation, or rehabilitation of an affordable housing project, and that are recoverable once long-term financing is obtained. The purposes for which predevelopment loans may be made include, but are not limited to, the costs of, or the costs associated with: land purchase or options to buy land; options or deposits to buy or preserve existing government-assisted rental housing for the purpose of preserving the affordability of the units; professional services such as architectural, engineering, or legal services; permit or application fees; environmental remediation costs; and bonding, site preparation, related water or sewer development, or material expenses. In addition, the loans may be made for the purpose of extending the time for exercising an option or extending the time period for repayment of an advance previously obtained. These loan funds may be deposited in banks as compensating balances to establish lines of credit for qualifying affordable housing developers.

Predevelopment Loan is defined in Recital D. “Predevelopment Loan Documents” is defined in Section 4.3.2. “Predevelopment Loan Proceeds” is defined in Section 2.1.1.

Predevelopment Loan plus interest thereon for the funds loaned to Borrower by City to finance certain predevelopment costs associated with the development of the Project pursuant to the Predevelopment Loan Agreement (the "Agreement") between Borrower and City of approximately even date herewith. All capitalized terms not otherwise defined in this Predevelopment Note shall have the meanings set forth in the Agreement.

Predevelopment Loan is defined in Section 3.2.

Predevelopment Loan means the means the loan made by PDC to Developer described in Section3.1.2 herein.