Permanent Loan the Permanent Phase of the Loan following Construction Phase as described in Section 5.1.
Permanent Loan. Borrower may request that Lender cause Servicer to make a permanent loan (the “Permanent Loan”) to be secured by one or more Collateral Pool Properties designated by Borrower (the “Permanent Loan Collateral”) to be simultaneously released from the Collateral Pool and encumbered in favor of Servicer as security for Borrower’s obligations under the Permanent Loan, which request shall be made in accordance with the provisions of Section 2.16.2. The Permanent Loan shall be made in accordance with the terms and conditions of the Streamlined Refinancing Program. Notwithstanding the foregoing, under no circumstances may Borrower receive a release of the Security Instrument with respect to the last property in the Collateral Pool prior to the Maturity Date, unless Borrower has elected to terminate this Agreement under Section 2.14 hereunder.
Permanent Loan. The Company shall cause the T1 Subsidiary to take out a Permanent Loan as soon as practical after the Completion of the Project being developed on the Development Parcel, although nothing herein shall prohibit HF from seeking such Permanent Loan at an earlier time. HF (or its Affiliate) will be required to execute any “bad boy” nonrecourse carve-out guarantees reasonably required by the Lender of the Permanent Loan, but shall not otherwise be required to guarantee the Permanent Loan. HF shall cause an HF Affiliate acceptable to the Permanent Lender to provide such guarantees. HF shall take the lead in procuring the Permanent Loan, and Skechers shall cooperate with HF in connection therewith (including using commercially reasonable efforts, at Company expense, to obtain a credit rating from a recognized credit rating agency as may be required by the Permanent Lender. Skechers shall have the right to review and comment on the terms and conditions of the Permanent Loan (including a possible participating equity interest in the Company or any Subsidiary afforded to the Permanent Lender), and the Permanent Loan documentation, but the decisions of HF in this regard shall control and will be final and conclusive (provided that HF shall act in good faith and consistent with its fiduciary duties hereunder). Notwithstanding the foregoing, Skechers Parent shall not be required to materially amend or modify the Lease in connection with obtaining the Permanent Loan (except for any reasonable and customary modifications which may be required under a subordination, non-disturbance and attornment agreement) or otherwise. Skechers shall be given reasonable advance notice of any regularly scheduled meetings with the prospective Permanent Lender at which material issues regarding the Permanent Loan are expected to be discussed and shall have the right to attend all such meetings (whether conducted in person or by telephone or electronic meeting). Skechers shall also have the right to communicate directly with the Permanent Lender to discuss the status of the Permanent Loan, but will not negotiate any of its terms or conditions without the express prior approval of the HF Managing Member. If HF gives notice to Skechers that it has identified a proposed Permanent Lender who has agreed to make a Permanent Loan which HF desires to accept (which notice shall set forth the basic terms and conditions thereof), Skechers shall have the right to become the Permanent Lender on the same...
Permanent Loan. OCD acknowledges and agrees that Borrower has entered into a Permanent Loan affecting the Project, in the original principal sum of $ , secured by a Permanent Loan Mortgage in favor of Permanent Lender, having a first priority mortgage lien on the Project, and evidenced by the Permanent Mortgage Loan Documents described on Exhibit D – Permanent Mortgage Loan Documents, and that the lien of OCD’s Mortgage and the Loan Documents are subordinate to the Permanent Mortgage Loan Documents in all respects.
Permanent Loan. The Permanent Loan Deed of Trust shall be a leasehold deed of trust and shall not encumber Landlord’s fee title.
Permanent Loan. Grantee acknowledges and agrees that Xxxxxxxx has entered into a Permanent Loan affecting the Project, in the original principal sum of $_________________, secured by a Permanent Loan Mortgage in favor of Permanent Lender, having a first priority mortgage lien on the Project, and evidenced by the Permanent Mortgage Loan Documents described on Exhibit D – Permanent Mortgage Loan Documents, and that the lien of Grantee’s Mortgage and the Loan Documents are subordinate to the Permanent Mortgage Loan Documents in all respects.
Permanent Loan. The credit facility and funding terms of the Permanent Loan shall be governed in accordance with this Article 5. The provisions of this Article 5 shall apply to each individual Permanent Advance.
Permanent Loan. The term "Permanent Loan" shall mean the permanent financing to be extended by the Bank to the Borrower for a ten (10) year period extending from the Conversion Date forward.
Permanent Loan. The Permanent Loan shall be used to provide permanent financing for the holding of the Secured Property during the term of the Permanent Loan.
Permanent Loan. The financing to be obtained by the Partnership to replace the Construction Loan, which Permanent Loan shall satisfy the parameters approved by the General Partner.
