CIT Loan definition

CIT Loan means (i) the loans made pursuant to the CIT Loan Documents, plus (ii) all obligations under any interest rate hedge agreements, swap agreements or similar instruments issued or entered into in connection with the CIT Loan Documents.
Sample 1Sample 2Sample 3
CIT Loan. The term "CIT Loan" shall mean that existing obligation -------- between Seller and the CIT Group/Equipment Financing Inc., a New York corporation dated as of February 14, 1996, secured by Seller's Equipment, but excluding certain items of test equipment and computer hardware which is not necessary to the continued operation of Seller's Wafer Fab Operations and which Seller has either paid for or otherwise arranged for the exclusion from this loan (which equipment is described and listed in Exhibit F attached hereto and incorporated herein by this reference).
Sample 1
CIT Loan means the Revolving/Term Loan Agreement and First Preferred Ship Mortgages financing in the approximate amount of USD 25,000,000 entered into on May 25, 1995 (and which amount may be increased by an amount not to exceed USD 5,000,000 without consent of the Lender) by and between Reading & Bates Offshore, Limited and The CIT Group/Equipment Finxxxxxg, Inc., and which is guaranteed by RBC or an affiliate thereof.
Sample 1

Examples of CIT Loan in a sentence

  • The Purchasers shall pay the Estimated Purchase Price on the Closing Date as set forth on the Estimated Closing statement, which shall include a payment to or for at least all of the following prior to Sellers receiving any funds: (a) first, to the Escrow Agent, the Indemnification Escrow Amount plus the Additional Escrow Amounts and (b) second, as required to pay off all obligations under the CIT Loan Documents.


More Definitions of CIT Loan

CIT Loan means the loans to be made to the Company pursuant to the CIT Loan Agreement.
Sample 1
CIT Loan means that certain loan up to the maximum principal amount of $80,000,000.00 to be made to Borrower by The CIT Group/Equipment Financing, Inc., as agent for the Lenders and each of the Lenders pursuant to a certain loan agreement substantially in the form previously provided to Lender (as the same may be amended from time-to-time, the “CIT Loan Agreement”). Capitalized terms used in this definition only shall have the meaning ascribed to them in the “CIT Loan Agreement.”
Sample 1
CIT Loan means the financing extended by CIT Group to Borrower in the maximum principal amount of $11,000,000.00 in March of 2005, the proceeds of which were used to repay the Term Loans made pursuant to the First Amended and Restated Credit Agreement.
Sample 1
CIT Loan means the loan evidenced by that certain factoring agreement dated as of December 19, 1988, as amended, between C&C as obligor and CIT as lender.
Sample 1
CIT Loan shall have the meaning set forth in the recitals of this Agreement.
Sample 1

Related to CIT Loan

  • 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.

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

  • 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;

  • PPP Loan has the meaning set forth in Section 3.28.

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

  • 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.

  • 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).

  • 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.

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

  • 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.

  • Cov-Lite Loan A Collateral Obligation the Underlying Documents for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Documents); provided that, notwithstanding the foregoing, a Collateral Obligation shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Obligation) not to be a Cov-Lite Loan if the Underlying Documents for such Collateral Obligation contain a cross-default or cross acceleration provision to, or such Collateral Obligation is pari passu with, another loan, debt obligation or credit facility of the underlying Obligor that contains one or more Maintenance Covenants.

  • Term Loan as defined in Section 2.1.

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

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

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

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

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

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Loan Advance The meaning specified in Section 2.2(a).

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

  • 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.

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

  • LIBOR Rate Loan means a Loan that bears interest based on LIBOR.

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

  • Term SOFR Loan means a Loan that bears interest at a rate based on Term SOFR.