Shortfall Loans definition

Shortfall Loans have the meaning set forth in Section 3.01(b).
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Shortfall Loans has the meaning set forth in Section 4.02(d).
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Shortfall Loans has the meaning given in clause 7.3(c).
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Examples of Shortfall Loans in a sentence

  • The obligations of the Members hereunder shall not confer upon any creditor or other third party having dealings with the Company any right, claim or other benefit, including the right to require any Cash Shortfall Loans.

  • The Members hereby covenant and agree to structure any Cash Shortfall Loans made pursuant to the terms of this Agreement so that such loans satisfy the “Straight Debt Safe Harbor” under Code Section 856(m) and the Treasury Regulations promulgated thereunder.

  • The Members hereby covenant and agree to structure any Cash Shortfall Loans made pursuant to the terms of this Agreement so that such loans satisfy the "Straight Debt Safe Harbor" under Code Section 856(c)(7) and the Treasury Regulations promulgated thereunder.

  • The proceeds of Cash Shortfall Loans, Default Loans and Development Loans made pursuant to the provisions of this Agreement and the proceeds of any financing obtained by Cordish pursuant to Section 6.2.B(i) with respect to any Additional Property will only be advanced as and to the extent that costs and expenses to be funded pursuant to the provisions hereof by such Cash Shortfall Loans, Default Loans, Development Loans and/or such other financing are actually incurred.

  • All distributions of Net Cash Flow or Net Proceeds of a Capital Transaction or repayments by the Company of any Cash Shortfall Loans otherwise payable to Inland shall be made instead to Cordish until all Default Loans (including accrued and unpaid interest) made by Cordish have been repaid in full.

  • The amount of such loans (including, without limitation, Shortfall Loans) shall be treated as Indebtedness of the Company and not as a Capital Contribution and shall be repaid in accordance with the terms of the loan agreements relating to such loans, or in the case of Shortfall Loans, as described in Section 3.03(c).

  • The obligations of Inland or Cordish to fund Cash Shortfall Loans hereunder shall not confer upon any creditor or other third party having dealings with the Company or any Owner Entity any right, claim or other benefit, including the right to require any such Cash Shortfall Loans.

  • All distributions of Net Cash Flow or Net Proceeds of a Capital Transaction or repayment by the Company of any Cash Shortfall Loans otherwise payable to Cordish shall be made instead to Inland until all Default Loans (including accrued and unpaid interest) made by Inland have been repaid in full.

  • Shortfall Loans shall (i) be evidenced by a written promissory note, (ii) bear interest at a fixed annual rate equal to the Shortfall Loan Rate, (iii) provide for unpaid interest to accrue and compound monthly, (iv) have a maturity date of twelve (12) months, (v) be repaid prior to any distribution of Net Cash Flow or Net Proceeds of a Capital Transaction, and (vi) be prepayable at any time without penalty.

  • Payments made in respect of Shortfall Loans shall be deemed first to be repayment of interest accrued on such Shortfall Loans and then to be repayment of the principal amount thereof.


More Definitions of Shortfall Loans

Shortfall Loans. (as defined the Construction Pledgor LLC Agreement or the Sponsor Partner LLC Agreement) incurred by the Borrower on or prior to the Conversion Date or amounts owed in respect of loans deemed made by Borrower under Section 7.14 of the Construction Pledgor LLC Agreement or Section 7.14 of the Sponsor Partner LLC Agreement, each of which shall be repayable solely with Voluntary Equity Contributions or amounts available for distribution from the Distribution Account following satisfaction of the Distribution Conditions and otherwise on terms and conditions set forth on Exhibit P (as confirmed by the Administrative Agent);
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Shortfall Loans. (as defined in Section 5.1(b)(ii) and the "Security Loan" (as defined in Section 5.1(c)).
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Shortfall Loans. Shortfall Loans shall accrue interest at the rate of twenty percent (20%) per annum, compounded quarterly, until repaid in full, and all amounts remaining due thereunder (after application of Section 6.03(a)) shall be due and payable in full on such Shortfall Loans (principal and interest) shall be repaid to the Shortfall Contributing Members out of any subsequent distributions of Net Cash Flow in accordance with Sections 6.03(a), 6.04 or 6.05, as applicable. Shortfall Capital Contributions shall be treated as provided in Section 6.03(a). Shortfall Capital Contributions shall be Additional Capital Contributions hereunder, but shall not be Substituted Capital Contributions, and a Member’s Gross Adjusted Capital Contributions shall in no event be increased by Shortfall Capital Contributions. A Shortfall Loan shall not be treated as a Capital Contribution or a Substituted Capital Contribution, and a Member’s Gross Adjusted Capital Contributions shall in no event be increased by a Shortfall Loan.
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Related to Shortfall Loans

  • Shortfall Amount has the meaning set forth in Section 6.02(b).

  • Class B-3 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-3 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph eleventh of Section 4.01(a).

  • Prepayment Interest Shortfall Amount With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Due Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the amount of interest (net of the General Servicing Fee) that would have accrued on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such Due Date, inclusive.

  • Class B-4 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-4 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph fourteenth of Section 4.01(a).

  • Unpaid Interest Shortfall Amount With respect to the Class A Certificates and the Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.