We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Deemed Loans Sample Clauses

Deemed Loans. Notwithstanding any provision contained herein to the contrary, and in addition to, and not in limitation of, any of the other rights or remedies of the Agent and the Lenders set forth herein, at the option and direction of Required Lenders, Agent, in order to facilitate timely payment hereunder of all Obligations in respect of (I) payments of interest due on any Loans, (II) payments of principal due on the Term Loans, (III) payments of cash, fees, expenses and other Obligations due and payable by Borrowers to the Loan Parties hereunder or under any of the other Loan Documents and (IV) payments by Agent of any amount due and payable under any Depositary Account Agreement or any other agreement entered into by any Lender Party in connection with this Agreement (including, without limitation, any amount resulting from the return, dishonor or other non-payment of items deposited with the Agent or any Depository bank by or on behalf of Borrowers), then, whether or not there is sufficient Borrowing Base availability, Borrowers shall be deemed automatically to have made a request for, and upon such payment by the Lenders shall be deemed to have made, a Base Rate Revolving Loan, in the full amount of such payment. Borrowers acknowledge that such Revolving Loan may cause a Borrower to exceed Borrower's Borrowing Base, in which event Borrowers shall be obligated to immediately make a prepayment pursuant to Section 6.2.2.
Sample 1Sample 2See All (4)
Deemed Loans. Notwithstanding any provision contained herein to the contrary, and in addition to, and not in limitation of, any of the other rights or remedies of Lender set forth herein, including, without limitation, pursuant to Section 7.4, at the sole option of Lender, in order to facilitate timely payment hereunder of all Liabilities in respect of (i) payments of interest due on any Loans, (ii) payments of principal due on the Term Loans, (iii) payments of cash, fees, expenses and other Liabilities due and payable by Borrowers to Lender hereunder or under any of the Related Documents and (iv) payments by Lender of any amount due and payable under the Bank Agency Agreement or any other agreement entered into by Lender and Master Account Bank in connection with this Agreement (including, without limitation, any amount resulting from the return, dishonor or other non-payment of items deposited with Master Account Bank by or on behalf of Borrowers), then, whether or not there is Borrowing Availability under the Revolving Commitment or any Revolving Commitment Allocation, Borrowers shall be deemed automatically to have made a request for, and upon such payment Lender shall be deemed to have made, a Prime Rate Revolving Loan, in the full amount of such payment. Each Revolving Loan made in payment of principal and interest on the Loans shall be allocated, prior to an Event of Default, to each Borrower according to such Borrower's pro rata share of the Liability being so paid. Borrowers acknowledge that such Revolving Loan may cause a Borrower to exceed the Revolving Commitment or a Borrower's Revolving Commitment Allocation or a Borrower's Borrowing Base, in which event Borrowers shall be obligated to immediately make a prepayment pursuant to Section 2.7(c) unless, prior to the existence of an Event of Default, the Funds Administrator shall notify Lender in writing that an intercompany loan permitted by Section 11.21 has been made.
Sample 1See All (4)
Deemed Loans. Subject to the terms and conditions set forth herein, on the Restatement Effective Date, each Lender that held a “Loan” under and as defined in the Existing Credit Agreement will be deemed to be a Lender and to have advanced a Loan under this Section 2.01. Subject to the terms and conditions set forth herein, each Lender severally agrees to make deemed Loans to the Borrower, solely in the circumstances set forth in Section 2.02(c)(i) hereof, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment.
Sample 1Sample 2
Deemed Loans. The Banks shall, from time to time during the Availability Period, if the Borrower fails to reimburse any L/C Disbursement when required by the provisions of 2.05(f), be deemed to have made a Dollar denominated Loan to the Borrower in the aggregate principal amount of the unreimbursed L/C Disbursement. In the case of a Xxxxxxx Letter of Credit, the amount of such corresponding Loan shall equal the unreimbursed L/C Disbursement measured in Euros not reimbursed by the Borrower multiplied by the Fixed Exchange Rate.
Sample 1Sample 2
Deemed Loans. 37 8.4 Due Date Extension.................................................................................37 8.5 Setoff.............................................................................................37 8.6
Sample 1Sample 2
Deemed Loans. 6.11.1 If the Borrower fails to provide cash cover in respect of an Extended Letter of Credit when due in accordance with Clause 6.10 (Cash cover in respect of an Extended Letter of Credit) the Borrower shall be deemed to have issued a Utilisation Request for a Loan in the amount required to achieve full cash cover in respect of that Extended Letter of Credit on the date upon which the cash cover should have been made in accordance with Clause 6. 10.1. The Utilisation Date for such a proposed Loan shall be the date on which the cash cover should have been made by the Borrower in accordance with Clause 6. 10.1. The Interest Period for such a Loan shall be determined by the Facility Agent. 6.11.2 If a deemed Loan is made in accordance with Clause 6.11.1, the proceeds of that deemed Loan shall be held by the Fronting Bank as cash cover for the applicable Extended Letter of Credit.
Sample 1
Deemed Loans. (a) In this Clause Rollover Amount means, in respect of a Lender and each currency in which any Loan to be advanced on the first Utilisation Date is denominated, the lesser of: (i) the amount (if any) to be paid in that currency, on the first Utilisation Date, to that Lender as an Existing Facility Lender by way of repayment of principal amounts owing under the Existing Facility; and (ii) the participation share of that Lender in any Loan(s) in that currency to be advanced on the first Utilisation Date. (b) This Clause applies only if the Agent and the Existing Agent are the same person on the first Utilisation Date. The Existing Agent, and any member of the Group which is a party to the Existing Facility, may rely on this Clause. (c) If, on the first Utilisation Date, any Lender is also an Existing Facility Lender then, unless that Lender notifies the Agent to the contrary no later than the Banking Day immediately prior to the first Utilisation Date: (i) that Lender, in its capacity as an Existing Facility Lender, directs the Existing Agent to pay any Rollover Amounts directly to the Agent; (ii) the amount which that Lender is obliged to pay in any currency to the Agent under Clause 6.4 (Lenders’ participation) will be reduced by the Rollover Amounts in that currency; and (iii) the Agent will make the Rollover Amounts available to the relevant Borrowers notwithstanding the operation of sub-paragraph (ii) above. (d) Each Lender acknowledges that to the extent this Clause 6.5 (Deemed Loans) applies, it is not entitled to receive repayment of any Rollover Amounts as an Existing Facility Lender. (e) This Clause does not apply to Letters of Credit.
Sample 1
Deemed Loans. 46 SECTION 7.6 APPLICATION OF PROCEEDS. . . . . . . . . . . . . . . . . . . . 47
Sample 1
Deemed Loans. 46 SECTION 7.6 Application of Proceeds...............................46
Sample 1

Related to Deemed Loans

  • Related Loans (a) Assuming Bank shall use its best efforts to determine which loans are “Related Loans”, as hereinafter defined. The Assuming Bank shall not manage, administer or collect any “Related Loan” in any manner that would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Single Family Shared- Loss Loan to which such loan is related. A “Related Loan” means any loan or extension of credit held by the Assuming Bank at any time on or prior to the end of the Final Shared-Loss Month that is made to an Obligor of a Single Family Shared-Loss Loan.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Ratable Loans Each Advance hereunder shall consist of Loans made from the several Lenders ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment.

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • Acquisition Loans The proceeds of the Acquisition Loans may be used only for the following purposes: (i) for working capital and general corporate purposes, including, without limitation, the issuance of Letters of Credit and to pay outstanding Floor Plan Loans; and (ii) to make Permitted Acquisitions.

  • Loans, Advances and Investments Neither the Seller nor any Restricted Subsidiary shall make any loan (other than Mortgage Loans), advance, or capital contribution to, or investment in (including any investment in any Restricted Subsidiary, joint venture or partnership), or purchase or otherwise acquire any of the capital stock, securities, ownership interests, or evidences of indebtedness of, any Person (collectively, “Investment”), or otherwise acquire any interest in, or control of, another Person, except for the following: (a) Cash Equivalents; (b) Any acquisition of securities or evidences of indebtedness of others when acquired by the Seller in settlement of accounts receivable or other debts arising in the ordinary course of its business, so long as the aggregate amount of any such securities or evidences of indebtedness is not material to the business or condition (financial or otherwise) of the Seller; (c) Mortgage Notes acquired in the ordinary course of the Seller’s business; (d) Investment in any existing Affiliate or any Subsidiary (including Investments by the Seller in CH Funding, LLC, a Delaware limited liability company) or JV; provided that (i) at the time any such investment is made and immediately thereafter, the Seller and the Restricted Subsidiaries are in compliance with all covenants set forth in the Repurchase Documents and no Default or Event of Default shall have occurred and be continuing and (ii) the aggregate outstanding amount of all such Investments shall not exceed $10,000,000 at any time; (e) Loans to officers or employees in an aggregate amount not to exceed $300,000; and (f) Investments in companies in the business of originating and servicing mortgage loans so long as such Investment is a direct equity investment and so long as such Investment does not cause a breach of any other covenant (affirmative or negative) hereunder.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Subsequent Advances (a) On any Subsequent Purchase Date during the Purchase Period, subject to the satisfaction of the conditions set forth in paragraph (b) of this Section 2.14 and Section 2.2 of the Insurance Agreement, the Noteholder shall pay to or upon the order of the Trust, a sum equal to its Percentage Interest of the Purchase Price of the related Subsequent Mortgage Loans (each a "Subsequent Advance") and in consideration thereof, the Trust hereby pledges, to the Indenture Trustee, for the benefit of the Noteholder and the Note Insurer, all right, title and interest of the Trust in and to all Subsequent Mortgage Loans now and hereafter arising, including the outstanding principal of, and interest due on and after the related Subsequent Purchase Date on, such Subsequent Mortgage Loans, and all other assets in the Trust Estate relating to the Subsequent Mortgage Loans. In connection with such pledge, and pursuant to Section 2.09 of the Sale and Servicing Agreement, the Trust does hereby also irrevocably pledge to the Indenture Trustee, for the benefit of the Noteholder and the Note Insurer, all of its rights under the Sale and Servicing Agreement, the related Subsequent Contribution Agreement and the related Subsequent Transfer Agreement, including, without limitation, its right to exercise the remedies created by Section 4.02 of the Sale and Servicing Agreement for defective documentation and for breaches of representations and warranties with respect to the Mortgage Loans contained in Sections 3.01, 3.02, 3.03 and 4.01 of the Sale and Servicing Agreement. (b) Each transfer of Mortgage Loans to the Trust, and each Subsequent Advance shall be made only upon the satisfaction of each of the following conditions on or prior to the related Subsequent Purchase Date: (i) in the case of a Subsequent Advance, the Originators shall have (x) provided the Trust, the Depositor, the Indenture Trustee, the Collateral Agent, the Note Insurer and the Initial Purchaser with a Notice of Borrowing at least three (3) Business Days prior to the Subsequent Purchase Date, which notice shall include a Mortgage Loan Schedule listing the Subsequent Mortgage Loans, (y) provided to the Note Insurer and the Liquidity Agent acting on its behalf, such loan level information as is generally provided to the lead underwriter for securitizations entered into by the Servicer and the Originators for purposes of calculation of the Market Value of the Mortgage Loans and (z) provided any other information reasonably and timely requested by any of the foregoing parties with respect to the Subsequent Mortgage Loans; (ii) the Servicer shall have delivered to the Note Insurer the report described in Section 7.16(a) of the Sale and Servicing Agreement; (iii) as of each Subsequent Purchase Date, neither the Originators nor the Depositor shall be insolvent, neither shall be made insolvent by such transfer and neither shall be aware of any pending insolvency; (iv) such Subsequent Transfer shall not result in a material adverse tax consequence to the Trust or the Holder of the Note; (v) in the case of a Subsequent Advance, no Default or Event of Default shall have occurred and be continuing; (vi) the Depositor and the Trust shall have delivered to the Indenture Trustee an executed copy of a Subsequent Transfer Agreement, substantially in the form of Exhibit F to the Sale and Servicing Agreement, (vii) the Trust and the Indenture Trustee shall have executed a Subsequent Pledge Agreement, substantially in the form of Exhibit B hereto; (viii) in the case of a Subsequent Advance, a Trigger Event shall not have occurred and be continuing on such Subsequent Purchase Date, nor shall a Trigger Event occur as a result of such transfer and no event has occurred and is continuing or would result from such Subsequent Advance which, with the giving of notice or the passage of time, or both, would constitute a Trigger Event; (ix) in the case of a Subsequent Advance, the Class A Note Principal Balance after giving effect to the Subsequent Advance in respect of such Subsequent Purchase Date would not exceed $200 million; (x) the amount of the Subsequent Advance is at least $5 million; (xi) all of the documents required to be delivered pursuant to Section 2.05 of the Sale and Servicing Agreement have been so delivered in accordance with the terms thereof and the Note Insurer shall have received a Certification from the Collateral Agent pursuant to Section 2.06(b) of the Sale and Servicing Agreement confirming such delivery (with no exceptions) not later than 2:00 P.M. (New York City, New York time) on the Business Day preceding the date on which such Subsequent Advance is to be made; (xii) the Final Purchase Date shall not have occurred; (xiii) in the case of a Subsequent Advance, the Holder shall have received a Notice of Borrowing in the form attached hereto as Exhibit E, duly executed by the Originators, not later than 2:00 P.M. (New York City, New York time) on the Business Day preceding the date on which such Subsequent Advance is requested to be made; (xiv) the Indenture Trustee and the Note Insurer shall have received an Officer's Certificate of the Depositor certifying that all of the conditions precedent in this Section 2.14(b) have been satisfied; and (xv) the Note Insurer, or Liquidity Agent acting on its behalf, shall prepare and deliver a report determining the Market Value of the Mortgage Loans to the Note Insurer and the Servicer. (c) In connection with the transfer, assignment and pledge of the Subsequent Mortgage Loans, the Originators and the Depositor shall satisfy the document delivery requirements set forth in Section 2.05 of the Sale and Servicing Agreement.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

Most Referenced Clauses

Most Referenced Definitions