![]() ![]() ![]() The outstanding principal balance of the Line of Credit, the Drawdown Loan and the Term Loan (collectively, the "Loans") shall bear interest, and the amount of each drawing paid under any Letter of Credit shall bear interest from the date such drawing is paid to the date such amount is fully repaid by Borrower, at a rate per annum four percent (4.0%) above the Base Rate in effect from time to time.īorrower's obligation to repay the Drawdown Loan shall be evidenced by a promissory note substantially in the form of Exhibit B attached hereto ("Drawdown Note"), all terms of which are incorporated herein by this reference. This authorisation policy is for Loan only and would apply for the main servicing transactions: Loan Drawdown, Loan Rollovers, Early Repayment, Partial Repayment, Full Repayment.Īll of the above commands, but the CA.create, reflect the typical interface available to the user of a token. ![]() (5) The amount of the drawdown is consistent with the ratio of 202 or 811 supportive housing units to other units.A Loan shall only be considered to be a Delayed Drawdown Loan for so long as its unused commitment amount is greater than zero.įunds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant obligors under any Delayed Drawdown Loan or Revolving Loan.Īs used in this Note, the defined terms as set forth in the Drawdown Loan Agreement between the Lender and Borrowers dated Octo(the “Loan Agreement”) shall have the same meanings as attributed thereto.įor all purposes (including calculation of the Coverage Tests), the principal balance of a Revolving Loan or a Delayed Drawdown Loan will include all unfunded commitments that have not been irrevocably reduced or withdrawn. Capital advance funds may be used for paying off bridge or construction financing, or repaying or collateralizing bonds, but only for the portion of such financing or bonds that was used for capital advance units and (4) The capital advance funds drawn down will be used only for eligible costs actually incurred in accordance with the provisions of this subpart and the approved mixed-finance project, which include costs stated in 12 U.S.C. (3) All conditions precedent to the drawdown of the funds by the mixed-finance owner have been satisfied (2) All parties are in compliance with their obligations pursuant to this subpart, which, by their terms, are applicable at the time of the drawdown of funds (1) All the representations and warranties submitted in accordance with this subpart continue to be valid, true, and in full force and effect (c) Each drawdown of funds constitutes a certification by the mixed-finance owner that: (b) Non-capital advance funds may be disbursed before capital advance proceeds or the capital advance funds may be drawn down in an approved ratio to other funds, in accordance with a drawdown schedule approved by HUD. (a) Upon its approval of the executed mixed-finance closing documents and other documents submitted and upon determining that such documents are satisfactory, and after the capital advance closing, HUD may approve the drawdown of capital advance funds in accordance with the HUD-approved drawdown schedule. ![]()
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