Shortfall Note definition

Shortfall Note means that certain Promissory Note Secured by Deed of Trust in the original principal amount of $28,800,000.00 executed by CIC to the order of Catellus Residential Land, LLC (“CRL”) whose rights as beneficiary thereunder are being concurrently herewith assigned to Borrower pursuant to that certain Assignment and Assumption (Alameda Shortfall Loan and Deed of Trust) between Borrower, as assignee, and Lender, as successor in interest to CRL, as assignor, dated of even date herewith (“Borrower Shortfall Loan Assignment”).
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Examples of Shortfall Note in a sentence

  • Note Interest ------------------------------------------------ Shortfall; Note Interest Carryover.

  • If a Member is the Non-Funding Member with respect to more than one Mandatory Shortfall Note outstanding at the time of such contribution, the Non-Funding Member shall specify the Mandatory Shortfall Note to which a Make-Up Contribution applies (or, if no such specification is made, the Make- Up Contribution will be used to repay the Mandatory Shortfall Note that is closest to its maturity date).

  • The amount thus lent to Tenant will be evidenced by a promissory note in the form and substance attached hereto as Exhibit A (the “Shortfall Note”), bearing interest at a fixed rate equal to ten percent (10%) per annum (the “Note Rate”) with monthly payments in arrears on the last day of each calendar month of interest only at the Note Rate on the average daily principal balance of the Shortfall Note for such month.

  • Financing Shortfall Note be extended without the consent of the principal holding the Financing Shortfall Note.

  • To the extent that the Notes are not paid or converted in full by April 1, 2025, then from and after April 1, 2025 the interest rate of the Notes (including the Shortfall Note) shall be 20% per annum.

  • All Rent and other monies required to be paid to Landlord hereunder shall be paid without offset, deduction, prior notice or demand, in lawful money of the United States of America (or in the form of a Shortfall Note, as permitted by Section 4.6 hereof), at the offices of Landlord, at ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ Attn: Controller, or at such other place as Landlord may from time to time designate in writing.

  • In addition to adjustments for infrastructure costs pursuant to Section 5.4.5, post-closing adjustments under this Section 5.4.7 will also reconcile actual cash expenditures and receipts relative to the Updated Pro-Forma for the Alameda (Bayport) Venture, including capital expenditures and receipts under the Alameda Shortfall Note.

  • Borrower will diligently and in good faith do all things and take all actions, including bringing appropriate actions against the applicable note obligor that are necessary or desirable to enforce the obligations of such note obligor to make the Shortfall Note Payments and the ▇▇▇▇▇▇▇▇▇▇ Note Payments, as applicable, and to protect and preserve the interest of Lender, under the assignment contained herein.

  • Upon receipt of such funds, the Joint Venture Company shall immediately repay to the Funding Member the portion of the outstanding principal balance of and accrued interest on the Mandatory Shortfall Note in an amount equal to the Make-Up Contribution plus any accrued interest on the amount of such Make-Up Contribution.

  • This Note is [an Optional [***] Shortfall Note] [an Optional [***] Equalization Note].

Related to Shortfall Note

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

  • Class B-6 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-6 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph twentieth of Section 4.01(a).

  • 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).

  • Class B Interest Shortfall Amount Any of the Class B-1 Interest Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest Shortfall Amount or Class B-6 Interest Shortfall Amount.

  • 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).