AR Loan Obligations definition

AR Loan Obligations means the AR Loan and all other indebtedness, liabilities and obligations owing to AR Lender under the AR Loan Documents (including without limitation any Over-line Advances and/or Allowable Over-Advances, as permitted pursuant to Section 2.7, and Protective Advances), provided, however, that notwithstanding anything to the contrary set forth in the AR Loan Documents, “AR Loan Obligations” shall exclude any and all indebtedness, liabilities and obligations that are not directly related to the benefit of the Facilities or the Other Facilities, or the financing thereof. Notwithstanding the foregoing, the AR Loan Obligations shall also include the following: [insert any specific obligation requested by AR Lender and approved by ORCF, provided such inclusion is consistent with HUD Program Obligations or a waiver of such HUD Program Obligations has been obtained]. Notwithstanding anything to the contrary in the AR Loan Documents or this Agreement, this Agreement shall not be deemed an “AR Loan Obligation.”

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AR Loan Obligations. Notwithstanding anything to the contrary in the AR Loan Documents, only the following obligations shall be secured by AR’s Lender’s liens and/or security interest in the Accounts, Deposit Accounts, or the FHA Lender Priority Collateral (collectively, the “Project Collateral”): (i) the outstanding principal amount of the AR Loan, including amounts of any letters of credit contemplated by the AR Loan Documents, up to the Maximum Commitment Amount; (ii) Protective Advances; (iii) fees associated with the financing that are set forth in the AR Loan Documents; (iv) out of pocket fees and expenses incurred by AR Lender in the administration and enforcement of the AR Loan Documents; and (v) interest on the amounts set forth in clauses (i) – (iv), except to the extent any default interest exceeds limits provided, if any, in Program Obligations. Notwithstanding anything to the contrary in the AR Loan Documents or this Agreement, this Agreement shall not be deemed an “AR Loan Obligation” or “Priority Obligation.” For purposes of this Agreement, no Indemnity Obligation and no Excluded Fee shall be deemed an “AR Loan Obligation.” [Notwithstanding the foregoing, AR Loan Obligations shall also include: [List any deal-specific additional to AR Loan Obligations requested by AR Lender and approved by ORCF.]]

AR Loan Obligations means the AR Loan and all other 101 indebtedness, liabilities and obligations owing to AR Lender under the AR Loan 102 Documents (including without limitation any Over-line Advances and/or Allowable 103 Over-Advances, as permitted pursuant to Section 2.7, and Protective Advances), 104 provided, however, that notwithstanding anything to the contrary set forth in the AR 105 Loan Documents, “AR Loan Obligations” shall exclude any and all indebtedness, 106 liabilities and obligations that are not directly related to the benefit of the Facilities or the 107 Other Facilities, or the financing thereof. Notwithstanding the foregoing, the AR Loan 108 Obligations shall also include the following: [insert any specific obligation requested by 109 AR Lender and approved by ORCF, provided such inclusion is consistent with HUD 110 Program Obligations or a waiver of such HUD Program Obligations has been obtained]. 111 Notwithstanding anything to the contrary in the AR Loan Documents or this Agreement, 112 this Agreement shall not be deemed an “AR Loan Obligation.”

Examples of AR Loan Obligations in a sentence

Notwithstanding the occurrence of a Cut-Off Time, the AR Lender shall have a first and prior security interest in the AR Lender Priority Collateral, and FHA Lender shall have a subordinate lien in the AR Lender Priority Collateral, until the AR Loan Obligations are Paid in Full.
From and after the Cut-Off Time, all amounts received by AR Lender on account of the AR Lender Priority Collateral shall be applied solely to the AR Loan Obligations.
Nothing herein shall prevent AR Lender from collecting the full amount of the AR Loan Obligations from any guarantors thereof and/or from collateral other than the AR Lender Priority Collateral and/or the FHA Lender Priority Collateral.
Nothing herein shall prevent AR Lender from collecting the full amount of the AR Loan Obligations from any guarantors thereof and/or from collateral other than the AR Lender Priority Collateral and/or the FHA Lender’s Priority Collateral.
Until the AR Loan Obligations are Paid in Full, the instructions given to third-party payors that identify the deposit accounts into which payments should be made shall not be changed.
From and after the Cut-Off Time, all amounts received by AR Lender on account of the AR Lender Priority Collateral shall be applied solely to the Priority Obligations and AR Lender shall not recover any portion of the AR Loan Obligations, other than the Priority Obligations, from the AR Lender Priority Collateral until the HUD Obligations are paid in full.
Notwithstanding anything else in this Agreement AR Loan Obligations shall not include indemnity obligations relating to any breach of this Agreement or relating to any dispute between AR Lender and FHA Lender or HUD.
Until the AR Loan Obligations are Paid in Full, AR Lender will have the exclusive authority to exercise control (unless prohibited by law) over the Deposit Accounts and to provide appropriate instructions to the applicable Depository Bank.
AR ▇▇▇▇▇▇ agrees to exercise any rights of setoff against funds on deposit in Deposit Accounts maintained with AR Lender for application to AR Loan Obligations consistently with the priorities and provisions established under this Agreement.
Notwithstanding the foregoing, to the extent that the proceeds of any sale of AR Lender Priority Collateral exceed the amount necessary to pay and satisfy in full the AR Loan Obligations, such excess shall be delivered to FHA Lender (to the extent that FHA Lender is otherwise entitled thereto in accordance with the FHA-Insured Loan Documents and/or applicable law) for application by FHA Lender pursuant to the FHA-Insured Loan Documents.

More Definitions of AR Loan Obligations

AR Loan Obligations. Notwithstanding anything to the contrary in the A R Loan Documents, only the following obligations shall be secured by AR‟s Lender‟s liens and/or security interest in the Accounts or the FHA Mortgagee Priority Collateral (collectively, the “Project Collateral”): (i) the principal amount of the Revolving Loan, up to the Maximum Principal Amount; (ii) interest on the Revolving Loan; (iii) amounts advanced by AR Lender that are reasonably necessary to preserve and protect the AR Lender Priority Collateral; (iii) fees associated with the financing that are set forth in the AR Loan Documents; and (iv) out of pocket fees and expenses incurred by AR lender in the administration and enforcement of the AR Loan Documents.