Section 73.303. Payment of interest only; commencement of amortization

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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.

The provisions of this § 73.303 adopted and renumbered from § 303.73, March 20, 1992, effective March 21, 1992, 22 Pa.B. 1270; amended October 19, 2007, effective October 20, 2007, 37 Pa.B. 5601. Immediately preceding text appears at serial page (230921).

                    
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