Private Loans definition

Private Loans private loans obtained by the Developer, or its successors, assigns or transferees, from third party private lending institutions to fund Reimbursable Project Costs. Financing Costs, as defined herein, relating to Private Loans, including interest thereon shall be a Reimbursable Project Cost.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Private Loans means all alternative supplemental loans originated or held other than the FFELP Loans and “Student Loan Portfolio” means the FFELP Loans and the Private Loans, collectively. Except as disclosed on Section 3.26 of the Company Disclosure Schedule or as would not have, or be reasonably likely to have, individually or in the aggregate, a Company Material Adverse Effect:

Private Loans means loans or indebtedness incurred by the Developer or any other private entity or individual to pay for Developer Reimbursable Project Costs incurred to carry out the Work. Reimbursement of interest on Private Loans shall be limited to the amount shown in the Project Budget and shall be limited to interest actually paid by Developer to a financing party that is not a Related Entity.

Examples of Private Loans in a sentence

• No Proceeds of the Lease will be used to make Private Loans and no use of the Project will be Private Use without the prior written consent of the Lessor or CoLT.

• On the Purchase Date, Program Lender shall assign and convey all Seasoned Loans that are Bank of America Private Loans included in the Pool to FMC, or a Purchaser Trust, in consideration of receipt of the Minimum Purchase Price therefor.

• On the dates of making thereof and of transfer thereof to the Eligible Lender Trustee, each Financed Student Loan will be guaranteed by a Guarantor and, except for Private Loans, covered by a federal reimbursement contract between such Guarantor and the Department and each such guarantee and federal reimbursement contract will be in full force and effect.

• The second group will consist of (i) Financed Student Loans that are not guaranteed by any party nor reinsured by the Department (collectively “Non-Guaranteed Private Loans,”) and (ii) Financed Student Loans that are not reinsured by the Department or any other government agency but are guaranteed by a private guarantor (collectively, “Guaranteed Private Loans” and together with the Non-Guaranteed Private Loans, the “Financed Private Loans”).

• The second group will consist of (i) Financed Student Loans that are not guaranteed by any party nor reinsured by the Department (collectively "Non-Guaranteed Private Loans,") and (ii) Financed Student Loans that are not reinsured by the Department or any other government agency but are guaranteed by a private guarantor (collectively, "Guaranteed Private Loans" and together with the Non-Guaranteed Private Loans, the "Financed Private Loans").

More Definitions of Private Loans

Private Loans means loans or indebtedness incurred by the Developer or any other private entity or individual to pay for Reimbursable Project Costs incurred or estimated to be incurred, to carry out the Redevelopment Project, to finance the creation of such Private Loans, to establish reserves, to fund or secure such Private Loans, to finance interest costs associated with such Private Loans, or to refund or refinance any such outstanding Private Loans. Loan origination fees and expenses which are incurred to secure Private Loans shall not exceed 2% of the principal amount of the Private Loan. Reimbursement for interest on Private Loans shall not exceed the amount set forth in Section 3.1.B.

Private Loans means loans or indebtedness incurred by the Developer or any other private entity or individual to pay TDD Costs incurred or estimated to be incurred, to carry out the TDD Project, to establish reserves, to finance interest costs associated with such Private Loans, or to refund or refinance any such outstanding Private Loans.

Private Loans means all student loans originated or held other than the FFELP loans (including any such loans originated or made by others and acquired by the Company or any of its subsidiaries) and held by the Company or any of its subsidiaries; “Student Loan Portfolio” means the FFELP Loans and the Private Loans; and “Successfully Completed Application” shall have the applicable meaning ascribed to such term in the applicable third party contract to which the Company or any of its subsidiaries is a party.

Private Loans means loans made in whole or in part to finance or refinance Reimbursable Project Costs.

Private Loans loans or indebtedness incurred by the Developer or any other private entity or individual to pay for Reimbursable Project Costs incurred, or estimated to be incurred, to carry out the Redevelopment Projects, to finance the creation of such Private Loans, to establish reserves, to fund or secure such Private Loans, to finance interest costs associated with such Private Loans, or to refund or refinance any such outstanding Private Loans.

Private Loans means any non−federal loans that are made in a commercial lending transaction for fair market rates with a willing borrower and willing lender, under standard commercial lending terms in which the borrower must repay the full amount of the loan. Private loans also include loans from Community Development Finance Institution lenders, shareholder loans, personal loans from family members, and other non−institutional lenders which entail commercial lending transactions at fair market rates.

Private Loans. A loan that is not provided by or guaranteed by a governmental entity, and that requires the CDBG–DR applicant (the borrower) to repay the full amount of the loan (principal and interest) under typical commercial lending terms, e.g., the loan is not forgivable.