Primary Loans definition

Primary Loans means, individually and collectively, the permanent and construction financing obtained by Developer for Phase II from one or more institutional lender(s) other than an Affiliate of Developer, as approved by Authority Executive Director, which loan(s) shall be senior to Authority’s Regulatory Agreement, but subordinate to Authority’s fee interest in the Site and the Entitlement for Phase II.
Sample 1
Primary Loans means, individually and collectively, the permanent and construction financing obtained by Developer for each Project from one or more institutional lender(s) other than an Affiliate of Developer, as approved by Authority Executive Director, which loan(s) shall be senior to Authority’s Regulatory Agreement, but subordinate to Authority’s fee interest in the Site and the land use entitlement obtained by Developer, including the City Covenants. For purposes of determining the number of Housing Units to receive Project Based Section 8 assistance pursuant to Section 310.1(d), Authority shall assume that the principal amount of the Primary Loan for each Project equals the amount set forth therefor in the Authority Economic Analysis.
Sample 1
Primary Loans is defined in Section 4.2.
Sample 1

Examples of Primary Loans in a sentence

  • Each Authority Deed of Trust shall be senior and non-subordinate to all other financing, encumbrances, and liens, except the approved Primary Loans and such other loan(s) as may be approved by the Authority pursuant to Section 310 hereof.

  • Each Authority Deed of Trust securing each Authority Promissory Note for each Authority Subordinate Loan shall be junior and subordinate to the Primary Loans, which are to be considered for approval by the Authority pursuant to Section 310 hereto in accordance with the standards set forth therein.

  • In the event Developer refinances either or both Primary Loan(s) (or other debt), subject to and with Authority approval, and Developer withdraws equity from either or both Project(s), any Refinancing Net Proceeds shall be split between Authority and Developer in the same manner as Residual Receipts (eighty-five percent (85%) to Authority and fifteen percent (15%) to Developer).

  • Authority shall cause and allow the affordable housing covenants set forth in the Original Agreement, the Manchester Ground Lease, and the Regulatory Agreement (but expressly and specifically excluding the REA and the City Covenants) to become junior and subordinate to the deed(s) of trust and other documents required in connection with the Tax Credits, and the Primary Loans from Debt Lender, each as approved pursuant to Section 4 above and Section 310 of the Original Agreement.

  • In the event Developer refinances either or both Primary Loan(s) (or other debt), subject to and with Authority approval, and Developer withdraws equity from the Project, any Refinancing Net Proceeds shall be split between Authority and Developer in the same manner as Residual Receipts (eighty-five percent (85%) to Authority and fifteen percent (15%) to Developer).


More Definitions of Primary Loans

Primary Loans means the loans made to or for the benefit of Borrowers by Lender on a revolving basis (including advances, repayments and readvances) as set forth in Sections 2.1(a)(i) and 2.1(a)(ii) hereof.
Sample 1
Primary Loans means all such ------------- Primary Loans, collectively and severally.
Sample 1

Related to Primary Loans

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Second Lien Loans means “Loans” under and as defined in the Second Lien Credit Agreement.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement;

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Existing Loans shall have the meaning assigned to such term in Section 2.21(a).

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Home Equity Loans means loans or funded portions of lines of credit secured by mortgages on one-to four-family residences or stock of cooperative housing associations, where the Failed Bank did not have a first lien on the same property as collateral.

  • Term Loans as defined in Section 2.1.

  • Refinancing Loans means the Refinancing Revolving Loans and the Refinancing Term Loans.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Other Loans means one or more Classes of Loans that result from a Refinancing Amendment or a Loan Modification Agreement.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • U.S. Revolving Loans has the meaning set forth in Section 2.1(a).

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • New Revolving Loans as defined in Section 2.25.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Refunded Swingline Loans as defined in Section 2.7(b).