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Art Loans definition

Art Loans means loans made by the Borrowers to customers of Parent and its Subsidiaries to finance the purchase or carrying of, or in anticipation of the potential sale of, or secured by, Works of Art.
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Art Loans means loans made by the Lending Subsidiaries to customers of Holdings and the Subsidiaries, to finance the purchase or carrying of, or in anticipation of the potential sale of, or secured by, works of art.
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Examples of Art Loans in a sentence

  • All of the Art Loans owned by each Borrower and reflected in the most recent Borrowing Base Certificate delivered by the Borrower Representative to Agent shall be “Eligible Art Loans” for purposes of this Agreement, except any Art Loans to which any of the exclusionary criteria set forth below applies.

  • Permit any of the Pledged Art Loans (as such term is defined in the Pledge Agreement) to be represented or evidenced by an instrument or a certificate, or permit any agreement relating to any Pledged Art Loan to provide that any of the documentation evidencing such Pledged Art Loan is a security governed by Article 8 of the Uniform Commercial Code as in effect in any applicable jurisdiction.

  • To Agent in writing, promptly upon the occurrence thereof, (i) any failure by any Sotheby Entity to fund any unfunded commitment to make future Art Loans upon satisfaction of the conditions precedent to such funding obligation or (ii) any dispute between any Sotheby Entity and any Art Loan Debtor regarding the obligation of any Sotheby Entity to make an Art Loan pursuant to any such unfunded commitment.

  • Levy, Dispute Over Jewish Archive Derails Russian Art Loans to U.S., N.Y. Times, Feb.

  • Agent shall have the right to establish, modify or eliminate Reserves against Eligible Art Loans from time to time in its sole reasonable credit judgment.

  • All of the Art Loans owned by each Borrower and reflected in the most recent Borrowing Base Certificate delivered by the Borrower Representative to the Administrative Agent shall be “Eligible Art Loans” for purposes of this Agreement, except any Art Loans to which any of the exclusionary criteria set forth below applies.

  • The Administrative Agent shall have the right to establish, modify or eliminate Reserves against Eligible Art Loans from time to time in its sole reasonable credit judgment.

  • To the Administrative Agent in writing, promptly upon the occurrence thereof, (i) any failure by any Sotheby Entity to fund any unfunded commitment to make future Art Loans upon satisfaction of the conditions precedent to such funding obligation or (ii) any dispute between any Sotheby Entity and any Art Loan Debtor regarding the obligation of any Sotheby Entity to make an Art Loan pursuant to any such unfunded commitment.

  • Vogel, Carol and Levy, Clifford J., ‘Dispute Derails Art Loans From Russia’, The New York Times, 2 February 2011.

  • Each Borrower, in connection with each Art Loan made or to be made by it, shall (i) apply credit standards and loan to collateral value requirements, (ii) follow practices with respect to documentation, perfection and protection of security interests and (iii) follow practices with respect to classification of Art Loans as non-accrual, as such standards, requirements and practices are generally applied and followed in the Borrowers' art lending business prior to the Closing Date.

Related to Art Loans

  • Subject Loans has the meaning assigned to such term in Section 2.11(b)(ii).

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Revolving Loans as defined in Section 2.4(a).

  • U.S. Loans means, individually and collectively as the context may require, the U.S. Revolving Loans, the U.S. Swingline Loans, the U.S. Overadvances, and the U.S. Protective Advances.

  • Bridge Loans means the Loans (as defined in the Bridge Credit Agreement).

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Original Loans means the loans and other extensions of credit outstanding under the Original Credit Agreement as of the Effective Date.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Committed Loans means loans made pursuant to Section 2.1(a).

  • U.S. Revolving Loans means the revolving loans made to the U.S. Borrowers pursuant to Section 2.1(a)(i), or any amendment to this Agreement entered into pursuant to Section 2.5, 2.6 or 2.7, each Agent Advance made to a U.S. Borrower and each U.S. Swingline Loan.

  • LIBOR Loans means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Term B Loans means (a) the term loans made by the Lenders to the Borrower pursuant to Section 2.01(a), and (b) any Incremental Term Loans in the form of Term B Loans made by the Incremental Term Lenders to the Borrower pursuant to Section 2.01(c).

  • Swing Loans means collectively and “Swing Loan” shall mean separately all Swing Loans or any Swing Loan made by the Swingline Lender to the Borrower pursuant to Section 2.6.3 [Making Swing Loans].

  • Existing Loans has the meaning specified in Section 2.19(a).

  • Term A Loans has the meaning specified in Section 2.01(b).

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • ABL Loans means the “Loans” as defined in the ABL Credit Agreement.

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Senior Loans means the term loans made by the Senior Lenders to the Borrower pursuant to the Senior Term Loan Agreement.

Most Referenced Clauses

Most Referenced Definitions