BP Loan definition

BP Loan means the loan to BPI in the aggregate amount of $24.0 million held by the Fund. “BP Rights” means:
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BP Loan means the loan to BPI in the aggregate amount of $24,000,000 held by the Fund. “BP Rights” means:
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BP Loan means the Fund’s loan to BPI in the aggregate amount of $24.0 million. “BP Rights” means:
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Examples of BP Loan in a sentence

  • Immediately following the Class C Exchange, the Fund and its subsidiaries capitalized and eliminated the BP Loan.

  • The Fund recorded no interest income (2017 – $1.2 million) with respect to the BP Loan and no interest expense (2017 – $1.2 million) with respect to the Class C Units.

  • Where the Trust makes a distribution in specie of securities of Holdings Trust on the redemption of Trust Units, the Trust may, in the discretion of the Trustees, make payable to that Unitholder any capital gain or income realized by the Trust as a result of the redemption of Trust Units, the transferring of an interest in the BP Loan to Holdings Trust in exchange for Series 3 Notes or any capital gain realized by the Trust as a result of the distribution of such securities to the Trust Unitholder.

  • The portion of the fair market value of such redeemed Trust Units which is derived, in the determination of the Trustees, from the Trust’s interest in the BP Loan may, in the discretion of the Trustees, be represented by Series 3 Notes issued by Holdings Trust to the Trust in consideration for the transfer by the Trust to Holdings Trust of an interest in the BP Loan of equivalent value.

  • At and immediately after the Time of Closing, the Trust shall use the proceeds from the sale of Units issued on the Offering to: (i) acquire from the Bank the BP Loan; and (ii) subscribe for Holdings Trust Units and Holdings Trust Notes.

  • The Equity Redemption Loan will, upon the earlier of the redemption of PIC Realty Corporation from the Partnership or the 90th day after the date of execution of this Agreement, be repaid through (i) a draw on the Credit Agreement by the Partnership of approximately $6,600,000 and (ii) cash of the Partnership in an amount equal to approximately $67,600,500, which cash will represent proceeds from the repayment of the Special BP Loan.

  • The Equity Redemption Loan will, upon the earlier of the redemption of The Prudential Insurance Company of America from the Partnership or the 90th day after the date of execution of this Agreement, be repaid through (i) a draw on the Credit Agreement by the Partnership of approximately $8,826,000 and (ii) cash of the Partnership in an amount equal to approximately $57,100,000, which cash will represent proceeds from the repayment of the Special BP Loan.

  • The Equity Redemption Loan will, upon the earlier of the redemption of The Prudential Insurance Company of America from the Partnership or the 90th day after the date of execution of this Agreement, be repaid through (i) a draw on the Credit Agreement by the Partnership of approximately $66,000,000 and (ii) cash of the Partnership in an amount equal to approximately $26,600,000, which cash will represent proceeds from the repayment of the Special BP Loan.

  • The Class C Exchange and the subsequent capitalization and elimination of the BP Loan are cash-neutral to the Fund as the Fund no longer receives $150,000 per month of interest income on the BP Loan, but Royalties LP no longer has $150,000 per month in interest expense on the Class C GP Units.

  • All security that BPI and BP Canada LP had granted the Fund in respect of the BP Loan was released and discharged.


More Definitions of BP Loan

BP Loan means the loan to BPI in the aggregate amount of approximately $24 million that was acquired by the Trust from an affiliate of Scotia Capital Inc. on the Closing of the Offering;
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Related to BP Loan

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • U.S. Loan means an extension of credit by a Lender to a Borrower under Article II in the form of a U.S. Committed Loan or U.S. Swing Line Loan.

  • Revolving Advance has the meaning given in Section 2.1.

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

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.