PSB Loan definition
PSB Loan means that certain mortgage loan in the original principal amount of $21,080,000 from Panhandle State Bank to Landlord secured by a deed of trust with respect to the Property
Examples of PSB Loan in a sentence
During the remainder of the applicable Lease Year, Tenant shall pay, on behalf of Landlord, all regularly occurring principal, interest, and reserve payments when due to the holder of the PSB Loan; provided, however, that Tenant shall not be required to pay more than the amount of Minimum Rent due hereunder during any given Lease Year.
Notwithstanding the foregoing, until the PSB Loan has been paid in full, Tenant shall pay to Landlord on the Commencement Date and each anniversary of the Commencement Date an amount equal to the amount of Minimum Rent payable for such Lease Year, minus the Annual Loan Payments for such Lease Year.