Examples of Acquisition Revolving Loan in a sentence
The purpose of the Affordable Housing Land Acquisition Revolving Loan Program (“LAP”) is to assist eligible organizations in Oregon to purchase land suited for affordable housing development (see OAR chapter 813, division 037).
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Provided no Default or Event of Default shall have occurred and shall be continuing, upon the satisfaction of the Acquisition Revolving Loan Commitment Increase Conditions, Borrower may request that the Lenders increase the Revolving Loan Commitment by $15,000,000 as set forth on the Commitment Annex in the table under the heading “After Effectiveness of Acquisition Revolving Loan Commitment Increase” (the “Acquisition Revolving Loan Commitment Increase”).
The obligation of each Lender and each Issuing Bank to make any Credit (other than any Term Loan or any Acquisition Revolving Loan prior to the end of the Certain Funds Period) shall be subject to the satisfaction (or waiver pursuant to Section 10.02) of each of the conditions precedent set forth below.
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If the Borrower uses any portion of any Loan to acquire any interest in real property, then the real property interest shall be owned and recorded in the name of the Borrower until the applicable portion of the Acquisition Revolving Loan is paid in full, together with all accrued and unpaid interest thereon and with all Fees with respect thereto.
Borrower will not permit the Fixed Charge Coverage Ratio for the 12-month period ending on the last day of each calendar quarter to be less than (a) prior to the effectiveness of the Acquisition Revolving Loan Commitment Increase, 1.10 to 1.00, and (b) after the effectiveness of the Acquisition Revolving Loan Commitment Increase, 1.20 to 1.00.
Each Lender's Acquisition Revolving Loan Commitment shall expire on the Acquisition Loan Conversion Date; provided -------- that each Lender's Acquisition Revolving Loan Commitment shall expire immediately and without further action on July 31, 1998 if the Domestic Term Loans are not purchased or made on or before that date.
The Acquisition Revolving Loan Commitment shall be subject to the approval of Administrative Agent and the Lenders in their respective sole discretion, and shall also be subject to the terms and provisions of Section 4.11, including, without limitation, such modifications to the Financing Documents as Administrative Agent shall reasonably request as necessary to effect the Acquisition Revolving Loan Commitment Increase, and other matters considered appropriate by Agent in its reasonable discretion.
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