Real Estate Note means the promissory note dated as at the date of the REAL ESTATE CLOSING in the face amount provided in Section 6.02 hereof issued by the BORROWER to the order of BANK and evidencing the obligation to repay the REAL ESTATE LOAN.
Real Estate Note means the promissory note payable to the order of the Bank evidencing the Real Estate Loan, together with all modifications, extensions, renewals and rearrangements thereof, delivered to the Bank prior to the Effective Date.
Real Estate Note means the Borrower's promissory note payable to the order of the Lender in substantially the form of Exhibit A-3 hereto.
Examples of Real Estate Note in a sentence
In addition, on or before the date hereof, Borrower shall pay to Bank a fee in the amount of the lesser of (i) Bank’s Cost of Funds Breakage Costs for the existing indebtedness owing to Bank from the Real Estate Loan Borrower which is amended, restated and restructured pursuant to the Real Estate Note, or (ii) the contractual prepayment fee reflected in the loan documents evidencing such existing indebtedness owing to Bank from the Real Estate Loan Borrower.
The Real Estate Note will bear interest at the rate of 9.5% per annum, be payable in 144 equal monthly installments and be secured by the Real Estate Properties.
Both the Real Estate Note and the Club Note will have cross-default provisions.
The Real Estate Note evidences a term loan by Lender to Debtors in the original principal amount of $4,935,000.00 (the “Real Estate Loan”).
An example is the Cytonn Real Estate Note which provides returns of 16.0% to 20.0% depending on the tenor.On the other hand, the downsides to this kind of financing option includes;• Illiquidity: This mostly affects Real Estate backed up structured products.
More Definitions of Real Estate Note
Real Estate Note means that certain Renewal Promissory Note dated January 15, 2002 to Lender from FAS in the original principal sum of Five Million One Hundred Fifty Five Thousand Five Hundred and 00/100 Dollars and all further extensions, consolidations and renewals thereof.
Real Estate Note means the Promissory Note dated as of the Closing Date by Borrowers payable to the order of Lender in the original amount of $7,686,000.00.
Real Estate Note means (i) such Real Estate Note has a minimum cash equity of 20% (i.e., the principal balance is less than 80% of the original purchase price), (ii) such Real Estate Note has an interest rate of at least the then current prime rate as listed in the "Wall Street Journal" (as such rate changes from time to time), (iii) such Real Estate Note is not currently delinquent for 90 days or more, (iv) the maturity date of such Real Estate Note has not been accelerated, and no event of default or event which could, with the giving of notice or the passage of time or both, constitute an event of default, has occurred under such Real Estate Note, and/or any document securing such Real Estate Note, (v) there are no late charges presently unpaid for 90 days or more on such Real Estate Note, and the obligors on the Real Estate Note have no defenses to or rights of offset against their obligations under such Real Estate Note, and/or any document securing such Real Estate Note, (vi) there is no indebtedness owing to the Borrower or any related party which is secured by any deed of trust or mortgage securing the Real Estate Note other than the indebtedness secured by such Real Estate Note, and the Borrower must not have made any agreement to extend any further credit to be secured by such deed of trust or mortgage, or any other lien upon property described in such deed of trust or mortgage, (vii) there are no outstanding liens, encumbrances, security interests or claims of any kind against or in respect of such Real Estate Note that are not subordinate to the lien securing such, and (viii) Borrower has provided Lender with the items described in Section 3(a)(iii), (iv), (v), (vi) and (vii) hereof, all of which are satisfactory to Lender, in its sole discretion. EXHIBIT "B" BORROWING BASE REPORT AND COMPLIANCE CERTIFICATE
Real Estate Note has the meaning set forth in Section 3.1.3(b).
Real Estate Note means the promissory note attached hereto as Exhibit E-2.
Real Estate Note. A" (the "Nationwide Note") of even date herewith in favor of Nationwide in the principal amount of $5,670,000, and (b) that certain Real Estate Note "B" (the "West Coast Note") of even date herewith in favor of West Coast in the principal amount of $750,000 (the Nationwide Note and the West Coast Note being collectively referred to hereafter as the "Note" (the "Note") secured by, among other things, that certain deed to secure debt and security agreement (the "Security Instrument") from Borrower to Lender, dated of even date herewith and to be recorded in the Gwinnett County, Georgia records (the Note, the Security Instrument, and any and all other documents or instruments evidencing, securing or otherwise relating to the indebtedness evidenced by the Note are hereinafter collectively referred to as the "Loan Documents"). Since Guarantor is the sole general partner of Borrower, the Loan will be of direct interest and advantage to Guarantor; and a condition to the making of the Loan is the delivery of this Guaranty to Lender.
Real Estate Note means one of a series of either two or three, as the case may be, promissory notes that are secured by a single assignment of the related Credit Tenant Lease and a single first mortgage on related real property. Pursuant to the related Intercreditor Agreement, the right of the holder of a Real Estate Note to receive payment of interest, principal and other expenses with respect to such Real Estate Note (other than in respect of Defaulted Lease Claims) is senior to the right of the holder of the related Corporate Credit Note and, if applicable, the related A-1 Note, to receive payment of interest, principal and other expenses with respect to such Corporate Credit Note and A-1 Note, if applicable; provided that upon the occurrence and during a continuation of a default under the related Credit Tenant Lease, the holder of the Corporate Credit Note will have a right to receive payment of interest, principal and other expenses with respect to Defaulted Lease Claims that is senior to the right of the holders of the related Real Estate Note and A-1 Note.