Definition of Loan. For the purposes of this clause 27 only, the definition of Loan shall mean:
27.5.1 prior to first Utilisation, the aggregate principal amount of the Ship Commitments for the Ships;
27.5.2 after first Utilisation but prior to delivery of all the Ships, the aggregate principal amount of (a) the Ship Commitments for any Ships not yet delivered and (b) the Loan; and
Definition of Loan. The definition of Loan set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Definition of Loan. The definition of “Loan” is replaced in its entirety with the following:
Definition of Loan. The definition of “
Definition of Loan. 1. For purposes of these Operating Guidelines, the term “loan” shall, except as provided below, include any instrument that is or will be treated as a debt obligation for U.S. federal income tax purposes (including any deferred obligation,5 whether funded or unfunded). For purposes of these Operating Guidelines, each separate tranche or class of debt obligations that are part of an issue or facility shall be treated as a separate loan.
2. Notwithstanding the foregoing, a debt obligation shall not be treated as a loan for purposes of these Operating Guidelines if it is (i) issued under a trust indenture or similar agreement under which a trustee is appointed to act on behalf of the holders of such debt obligation; and (ii) treated as a security for purposes of the Securities Act of 1933, as amended, unless the Issuer acquires at original issuance more than 25 percent (by value) of all of the debt obligations of the particular tranche or class offered at that time by that obligor, in which case all of such debt obligations will be treated as loans for purposes of these Operating Guidelines.
Definition of Loan. The definition of “Loan” set forth in Section 1.1uu of the Loan Agreement is hereby deleted in its entirety and restated as follows:
Definition of Loan. The definition of "Loan" contained in Section 1.1 of the Credit Agreement is hereby amended by deleting such definition in its entirety, and substituting in lieu thereof a new definition, to read as follows:
Definition of Loan. The Definition of Loan contained in the Loan Agreements are hereby amended to provide, as follows: “The revolving credit loans described in the Loan Agreements; provided however, the amounts advanced from time to time shall not exceed fifty percent (50%) of the Appraised Value of the Properties, as determined by the Lender based upon the Appraisals; provided further, that the Loan to Appraised Value of Properties securing a single Loan may increase to a maximum amount of sixty (60%) or less so long as the combined Loan commitments to total aggregate Appraised Value for all Properties is fifty percent (50%) or less”.
