BT Loan definition

BT Loan means certain pre-petition notes executed by PAA and delivered to the Blanche Trust.
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BT Loan means the loans made to WorldPort International, Inc. ("WPI") pursuant to the Credit Agreement.
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BT Loan or "BT Loans" means an advance or advances under the BT Credit Agreement.
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Examples of BT Loan in a sentence

  • In addition to the BT Loan, PAA is further indebted to the Blanche Trust for an additional pre- petition secured indebtedness in the original principal amount of $335,388.36 which was secured by the same collateral encumbered in connection with the BT Loan.

  • The proceeds of the BT Loan were used to pay the fees and expenses of the Debtors’ pre-petition advisors, the Bankruptcy filing fees associated with these cases, insurance, payroll and other general operating expenses.

  • Subsequent to December 31, 2001, all amounts due under the BT Loan Receivable were paid to Concert.

  • The principal balance of the BT Loan Receivable was $67 and $181 (unaudited) at December 31, 2001 and 2000, respectively.

  • CONCERT, B.V. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (DOLLARS IN MILLIONS, EXCEPT SHARE DATA) -------- LOANS DUE FROM RELATED PARTIES On December 15, 2000, Concert extended a loan facility ("BT Loan Receivable") to BT.

  • On May 11, 1998, the Company refinanced its existing $455 million loan from Nomura Asset Capital Corporation and Bankers Trust Company with a new $455 million loan from Bankers Trust Company (the "BT Loan").

  • The amount of the Loan eligible to blend terms (BT Loan) is fourteen million, two hundred thousand EUR (14 200 000 EUR).

  • Phelan as Senior Vice President and Chief Accounting Officer of the Company, effective May 1, 2020.BT Loan Agreement Amendment On April 22, 2020, as described above, the BT Loan Agreement was amended to provide for an increase in the maximum Total Leverage Ratio and a reduction in the minimum Liquidity covenant.

  • In connection with the amendment, the Company agreed to pay a one-time fee of approximately $0.7 million, added to the principal balance, and a 1 percentage point increase in the interest rate to LIBOR plus 9%.On July 2, 2020, a portion of the proceeds from each of the sales of the Company’s Series B Preferred Stock and the borrowings from the Hayfin Loan Transaction were used to repay the outstanding balance of principal, accrued but unpaid interest, and prepayment premium under the BT Loan Agreement.

  • The Amendment provided for an increase in the maximum Total Leverage Ratio (as defined in the BT Loan Agreement), which is a quarterly test, for the remainder of 2020, and also provided for a reduction in the minimum Liquidity (as defined in the BT Loan Agreement) requirement from April 2020 through and including November 2020.

Related to BT Loan

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

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • 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;

  • 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”.

  • Term Loan as defined in Section 2.1.

  • Initial Loan is defined in Section 2.1.

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • LIBOR Loan means any portion of a Loan (other than a Base Rate Loan) bearing interest at a rate based on LIBOR.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.