Conduit Loan means a purpose investment acquired by the Issuer with Proceeds of a Conduit Financing Issue, thereby effecting a loan to the Conduit Borrower.
Conduit Loan. Any Loan made by a Conduit, whether such Loan is a CP Rate Loan or is funded by a Liquidity Funding under the related Liquidity Agreement.
Conduit Loan means a Mortgage Loan, secured by a first mortgage on a real property, that in Lender's determination, satisfies the following criteria: (i) principal balance not exceeding $40,000,000.00; (ii) interest at a fixed rate with prepayment protection satisfactory to Lender; (iii) single-asset, bankruptcy remote property owner complying with all nationally recognized statistical rating agency requirements; (iv) no subordinate financing and mortgage and organizational documents prohibiting subordinate financing or unsecured financing not otherwise subject to intercreditor agreements satisfactory to rating agencies; (v) debt service coverage ratio (as determined by Lender in its sole discretion) of not less than 1.25:1 or such higher debt service coverage ratio as may be required by rating agencies; (vi) not having any characteristics that would impair the rating of any securities issued pursuant to a securitization that included a substantial component of mortgages similar to such mortgage; and (vii) in full compliance with such other "conduit" underwriting and structuring requirements as Lender shall establish from time to time.
Examples of Conduit Loan in a sentence
If the Owner refinances the first priority permanent financing or the first priority Deed of Trust for the purpose of taking cash out of the Project prior to the repayment of the first priority permanent financing or the first priority Deed of Trust, then the Owner shall repay the Authority Loan and the Conduit Loan in full or the parties will renegotiate this Agreement.
The Authority shall disburse the proceeds of the Conduit Loan to the Owner on a lump sum basis at the Closing Date or as determined by the terms of the Conduit Loan.
The Owner shall not use the proceeds of the Authority Loan or the Conduit Loan for the acquisition of the Property.
The Owner agrees to accept the Conduit Loan and agrees to comply with the terms and conditions of this Agreement.
The Bank Loan shall be without recourse to the Authority other than the pledge of the Appropriations, the Conduit Note and the Conduit Loan Deed of Trust.
More Definitions of Conduit Loan
Conduit Loan means a Loan made by a Conduit Lender.
Conduit Loan means the Three Million Dollar ($3,000,000) loan by the Authority to the Owner evidenced by the Conduit Note and funded by the proceeds of the Bank Loan, and any renewals, modifications, or extensions thereof.
Conduit Loan means a purpose invest- ment (as defined in § 1.148–1).
Conduit Loan means that certain loan facility provided by Textron Financial Corporation to SPV in accordance with the terms of the Silverleaf Finance II Documents.
Conduit Loan has the meaning specified in Section 2.1 of the Loan ------------- Agreement.
Conduit Loan means and refer to that certain loan, in the original principal amount of Twenty-Two Million Two Hundred Thousand Dollars ($22,200,000.00), made to West Oahu Mall Associates, LLC on or about September 19, 2005, by IXIS Real Estate Capital Inc., a New York corporation, and secured by loan documents, including but not limited to a Mortgage, Assignment of Leases and Rents and Security Agreement encumbering the Real Property and Improvements, dated September 19, 2005, made by West Oahu Mall Associates, LLC to IXIS Real Estate Capital Inc., which was recorded in the Office of the Assistant Registrar of the Land Court of the State of Hawaii as Document No. 3328441 (“Mortgage”), which loan and loan documents were subsequently assigned to Xxxxx Fargo. The outstanding principal balance for the Conduit Loan as of March 11, 2009, was approximately Twenty-One Million One Hundred Forty-Seven Thousand Two Hundred Seventy-Eight Dollars ($21,147,278).
Conduit Loan means a commercial mortgage loan, secured by a first mortgage on real property, that in Lender's determination, satisfies the following criteria: (a) principal balance not exceeding $40,000,000; (b) bears interest at a fixed rate with prepayment protection satisfactory to Lender; (c) no unfunded loan advances; (c) single-asset borrower complying with all applicable rating agency requirements; (d) no subordinate financing; (e) debt service coverage of at least 1.25:1; (f) not having any characteristics that would impair the rating of any securities issued pursuant to a securitization that included a substantial component of mortgages similar to such mortgage; and (g) in full compliance with such other "conduit" underwriting and structuring requirements as Lender shall establish from time to time.