Section 3.102.140. Transaction closing and disbursement of funds.

Latest version.

Upon certification by the authority and the applicant that all provisions of the commitment have been complied with, the financing will be scheduled for closing. If the NMTC leverage loan product is a loan transaction, the loan proceeds will be disbursed as contemplated in the authority's loan commitment, which will ordinarily mean the loan funds will be disbursed at the time of and as part of the closing of the overall NMTC transaction. If the NMTC leverage loan product is a guarantee, the authority will enter into a guarantee agreement with the financial institution providing the guaranteed loan, which guarantee agreement will enumerate the parties' obligations and responsibilities. The guarantee agreement will be executed simultaneously with the other closing requirements.

Authorities

44.88.085;44.88.770

Notes

Authority
 AS 44.88.085  
AS 44.88.770  
Editor's note: Even though 3 AAC 102.140 was adopted and effective 3/29/2013, it was not published until Register 207, October 2013.  
History Eff. 3/29/2013, Register 207

References

3.102.140

                    
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