Preliminary Evidence of Financing definition

Preliminary Evidence of Financing means a preliminary commitment letter from a financial institution which has adequate financial resources, in the reasonable determination of the City, and is in the business of providing construction financing for the Residential Component and/or the Retail Component, and which includes: (i) a term sheet or letter of interest, and (ii) the statement by the prospective lender that such lender has reviewed the Developer’s preliminary loan information and has issued a preliminary letter of interest or term sheet to provide Construction Financing for (at a minimum) the Residential Component and/or the Retail Component.
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Preliminary Evidence of Financing means either (a) a preliminary commitment letter from a financial institution which has adequate financial resources, in the reasonable determination of City, and is in the business of providing construction financing for developments such as the Project, and which includes a term sheet or preliminary letter of interest or other preliminary commitment to provide Developer with acquisition or construction financing for the Project, or (b) a form 10-K in the form filed by Developer or its parent or affiliate evidencing reasonably adequate financial resources to pay for the costs of constructing the Project together with a binding written unconditional commitment from the applicable entity to fund the costs of construction.
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Examples of Preliminary Evidence of Financing in a sentence

  • If City shall disapprove any such Preliminary Evidence of Financing, City shall do so by Notice to Developer stating the reasons for such disapproval and Developer shall endeavor to promptly obtain and submit to City new Preliminary Evidence of Financing.

  • Any material and adverse changes to the terms of the Construction Financing from the approved Preliminary Evidence of Financing shall be subject to the City written approval, which shall not be unreasonably withheld.

  • The Director shall reasonably approve or disapprove Preliminary Evidence of Financing within fifteen (15) days of receipt thereof.

  • Such Construction Financing (if any) for the Project shall be on substantially similar terms as the approved Preliminary Evidence of Financing unless otherwise approved by City, which approval shall not be unreasonably withheld, conditioned or delayed, and any third-party debt portion of such Construction Financing (if any) shall record and begin funding concurrently with the Closing.

  • City shall also have approved the documents evidencing the Construction Financing for the Residential Component to confirm that the Construction Financing for the Residential Component contains substantially similar terms as the Preliminary Evidence of Financing.

  • The City shall have approved, which approval shall not be unreasonably withheld, the Preliminary Evidence of Financing for the Residential Component.

  • No such approval shall be required for mortgages, deeds of trust, or sales and lease-backs encumbering any portion of the Site for which a Release of Construction Covenants has been issued or for which City has approved the Preliminary Evidence of Financing so long as such mortgages, deeds of trust, or sales and lease- backs do not materially and adversely differ from the approved Preliminary Evidence of Financing.

  • No such approval shall be required for mortgages, deeds of trust, land banking arrangements or sales and lease-backs encumbering any portion of the Site for which a Release of Construction Covenants has been issued or for which City has approved the Preliminary Evidence of Financing so long as such mortgages, deeds of trust, land banking arrangements or sales and lease- backs do not materially and adversely differ from the approved Preliminary Evidence of Financing.

  • The Director shall reasonably approve or disapprove Preliminary Evidence of Financing within ten (10) days of receipt thereof.

  • Such Construction Financing (if any) for the Project shall be on substantially similar terms as the approved Preliminary Evidence of Financing unless otherwise approved by City, which approval shall not be unreasonably withheld, conditioned or delayed, and any third-party debt portion of such Construction Financing (if any) shall record and begin funding concurrently with the Closing and the Developer or Affiliate provides written evidence of the commitment to construct consistent with this Agreement.

Related to Preliminary Evidence of Financing

  • Preliminary Closing Statement shall have the meaning set forth in Section 2.3(a).

  • Preliminary Report means the communication used for the prompt dissemination of data obtained during the early stages of the investigation;

  • Draft Closing Statement means a draft closing statement, prepared by Seller, as of the close of business of the third (3rd) business day preceding the Closing Date setting forth an estimated calculation of both the Purchase Price and the Estimated Payment Amount.

  • Closing Certificate means the closing certificate of the Company in the form of Exhibit B hereto.

  • Preliminary Title Report A report issued by a title insurance company in anticipation of issuing a Title Insurance policy which evidences existing liens and gives a preliminary opinion as to the absence of any encumbrance on title to a Mortgaged Property, except liens to be removed on or before purchase or refinance, as the case may be, by the Borrower and Permitted Encumbrances.

  • Preliminary Offering Circular means any preliminary offering circular or memorandum, if any, or any other written preliminary materials authorized by the Issuer to be used in connection with such an Offering. As used herein, the terms “Offering Circular” and “Preliminary Offering Circular” include the material, if any, incorporated by reference therein. We will either, as soon as practicable after the later of the date of the Invitation Wire or the date made available to us by the Issuer, furnish to you (or make available for your review) a copy of any Preliminary Offering Circular or any proof or draft of the Offering Circular. In any event, in any Offering involving an Offering Circular, the Manager will furnish, make available to you, or make arrangements for you to obtain, as soon as practicable after sufficient quantities thereof are made available by the Issuer, copies (which may, to the extent permitted by law, be in electronic form) of the Preliminary Offering Circular and Offering Circular, as amended or supplemented, if applicable (but excluding, for this purpose, documents incorporated therein by reference).

  • Preliminary Closing Balance Sheet shall have the meaning set forth in Section 2.3(c)(i).

  • Closing Memorandum means the form of closing memorandum to be prepared by Apple for the Closing under this Agreement in which are included the forms of certificates of officers, the opinions of counsel and certain other documents to be delivered at the Closing as provided in Article VII.

  • Written application or "written election" means a written instrument, prescribed by the board

  • Loan Application is defined in Section 5.16(a).

  • Special Contract Attachments means any attachment to this Contract.

  • Preliminary Receipt means the receipt issued by the Principal Regulator, evidencing that a receipt has been, or has been deemed to be, issued for the Preliminary Prospectus in each of the Qualifying Jurisdictions;

  • Preliminary Settlement Statement shall have the meaning given such term in Section 3.2.

  • Closing Statement has the meaning set forth in Section 2.5(a).

  • Request regarding a statement of account means a record authenticated by a debtor requesting that the recipient approve or correct a statement indicating what the debtor believes to be the aggregate amount of unpaid obligations secured by collateral as of a specified date and reasonably identifying the transaction or relationship that is the subject of the request.

  • Pricing Certificate means an Officer’s Certificate of Company certifying the Consolidated Leverage Ratio as at the last day of any Fiscal Quarter and setting forth the calculation of such Consolidated Leverage Ratio in reasonable detail.

  • Preliminary Order means the order proposed by the Settling Parties and approved by the Court in connection with the Motion for Entry of the Preliminary Order to be filed by Class Representatives through Class Counsel, as described in Paragraph 3.2 and in substantially the form attached hereto as Exhibit 2.

  • Title Report has the meaning set forth in Section 5.4(b).

  • Post-Closing Statement has the meaning set forth in Section 3.3(c).

  • Closing Working Capital Statement has the meaning set forth in Section 2.04(b)(i).

  • Construction Schedule means a construction schedule indicating the planned start and completion dates of the major activities of the Work as set out in Appendix [ ], a future Appendix;

  • Request regarding a list of collateral means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request.

  • Preliminary Official Statement means the Preliminary Official Statement relating to

  • Loan Transmittal Summary Forms means the forms related to each Xxxx of Sale provided to the Seller by the Purchaser and completed by the Seller which list, by Borrower, (i) the Loans subject to the related Xxxx of Sale and (ii) the outstanding Principal Balance and accrued interest thereof as of the related Cutoff Date.

  • Payoff statement means a written statement furnished by the mortgage servicer which sets forth all of the following: