TI Loan definition

TI Loan means that certain loan in the original principal amount of $1,400,000 made by Lender to Borrower pursuant to a certain Loan Agreement and other documents evidencing and securing such loan, dated as of June 19, 2019, and used to construct certain tenant improvements in the School..
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TI Loan. A loan in the maximum principal amount of $7,000,000 made ------- by Fleet Bank to the Partnership to fund the cost of tenant improvements, leasing commissions and other costs incurred in leasing the space at the Property which was vacant and available for leasing as of December 15, 1994 secured by that certain Amended and Restated Building Costs Mortgage and Security Agreement, dated as of the date hereof, made by the Partnership to Fleet Bank.
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Examples of TI Loan in a sentence

  • At Landlord's option, Landlord may prepare a promissory note which Tenant shall execute and deliver to Landlord, setting forth the terms of Tenant's obligation to repay the First TI Loan.

  • At Landlord's option, Landlord may prepare a promissory note which Tenant shall execute and deliver to Landlord, setting forth the terms of Tenant's obligation to repay the Second TI Loan.

  • The First TI Loan shall accrue interest at the rate of 11 percent per annum.

  • If Tenant desires to borrow funds from Landlord for such excess amount, Landlord agrees to loan funds to Tenant in an amount not to exceed $75,010.00 solely for costs, fees, and expenses to design and construct improvements in the Premises (the "First TI Loan").

  • Tenant shall repay the First TI Loan with monthly payments sufficient to amortize the First TI Loan over the ten year term of the Lease beginning on the Commencement Date and ending on the expiration date of the initial term of the Lease, taking into account interest at the rate of 11 percent per annum.

  • Tenant shall repay the Second TI Loan with monthly payments sufficient to amortize the Second TI Loan over the initial two years of the Term beginning on the Commencement Date and ending on the last day of the 24th month of the Term, taking into account interest at the rate of 11 percent per annum.

  • Payments on the First TI Loan will begin on the Commencement Date and shall continue on the first day of each month throughout the remainder of the initial term of the Lease and shall be paid in full on or before the expiration date of the initial term of the Lease or any earlier termination date.

  • Payments on the Second TI Loan will begin on the Commencement Date and shall continue on the first day of each month thereafter and shall be paid in full on or before the end of the 24th month of the Term or any earlier lease termination date.

  • Landlord further agrees to loan additional funds to be applied toward the Additional TI Costs in an amount not to exceed $75,010.00 solely for costs, fees, and expenses to design and construct improvements in the Premises (the "Second TI Loan").

  • The Second TI Loan shall accrue interest at the rate of 11 percent per annum.

Related to TI Loan

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • PPP Loan means, with respect to any Target Company, the loan made to the Target Company by a bank pursuant to that certain promissory note under the U.S. Treasury’s Paycheck Protection Program (pursuant to the CARES Act).

  • CD Loan means a Committed Loan to be made by a Bank as a CD Loan in accordance with the applicable Notice of Committed Borrowing.