Statutes, codes, and regulations
Pennsylvania Code (Rules and Regulations)
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENTPart III - Business FinancingSubpart C - LoansChapter 73 - PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITYSubchapter B - STATEMENT OF POLICY
MISCELLANEOUS
Section 73.303 - Payment of interest only; commencement of amortization

12 Pa. Code § 73.303

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Current through Register Vol. 55, No. 1, January 4, 2025
Section 73.303 - Payment of interest only; commencement of amortization

For construction projects, the PIDA commitment and loan documents generally provide for the payment of "interest only" during construction or through a date reasonably certain as approved by the PIDA, whichever occurs first. The PIDA's cash flow situation and disbursement restrictions will always affect the "interest only" and "commencement of amortization" provisions.

12 Pa. Code § 73.303

The provisions of this § 73.303 adopted and renumbered from §303.73, March 20, 1992, effective 3/21/1992, 22 Pa.B. 1270; amended October 19, 2007, effective 10/20/2007, 37 Pa.B. 5601.