Contemporaneous Loan definition

Contemporaneous Loan. ’ shall mean any loan which the Borrower has used to satisfy RUS Regulations or loan conditions requir- ing that supplemental financing be obtained in order to obtain a loan from RUS. Any loan used to refinance or refund a Contempora- neous Loan is also considered to be a Con- temporaneous Loan.
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Contemporaneous Loan. ’ shall mean a loan made pursuant to a loan agreement
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Contemporaneous Loan. ’ shall mean any loan which the Borrower has used to satisfy RUS Regulations or loan conditions requiring that supplemental financing be obtained in order to obtain a loan from RUS. Any loan
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Examples of Contemporaneous Loan in a sentence

  • Prepayments associated with refinancing or refunding a Contemporaneous Loan are not considered to be prepayments for purposes of this Agreement if (i) the principal amount of such refinancing or refunding loan is not less than the amount of loan principal being refinanced and (ii) the weighted average life of the refinancing or refunding loan is not less than the weighted average remaining life of the loan being refinanced.

  • Provided, however, in all cases prepayments associated with refinancing or refunding a Contemporaneous Loan pursuant to Article II of the Mortgage are not consid- ered to be prepayments for purposes of this Agreement if they satisfy each of the fol- lowing requirements:(a) Principal.

  • If the Borrower shall at any time prepay in whole or in part the Contemporaneous Loan described on Schedule 1, the Borrower shall prepay the RUS Note correspondingly in order to maintain the ratio that the Contem- poraneous Loan bears to the RUS Commit- ment.

  • If the Borrower shall at any time prepay in whole or in part any Contemporaneous Loan, the Borrower shall prepay the related Outstanding Note to the Government in the ratio that the unpaid principal balance of such Outstanding Note to the Government bears to the aggregate unpaid principal amount of both such Outstanding Note and the note evidencing the Contemporaneous Loan.

  • However, prepayment of any Outstanding Note (and any penalties) relating to a Contemporaneous Loan shall be mandatory under Section 5.4.

  • However, prepayment of the Note (and any penalties) shall be mandatory under Sec- tion [5.3] hereof if the Borrower has used a Contemporaneous Loan in order to qualify for the RUS Commitment, and later prepays the Contemporaneous Loan.

  • However, prepayment of the Note (and any penalties) shall be mandatory under Sec- tion [5.3] hereof if the Borrower has used a Contemporaneous Loan in order to qualify for the RUS Commitment, and later prepays the Contemporaneous Loan.ARTICLE IV—CONDITIONS OF LENDINGSection 4.1. General ConditionsThe obligation of RUS to make any Ad- vance hereunder is subject to satisfaction of each of the following conditions precedent on or before the date of such Advance:(a) Legal Matters.

  • However, prepayment of the Note (and any penalties) shall be mandatory under Sec- tion [5.3] hereof if the Borrower has used a Contemporaneous Loan in order to qualify for the RUS Commitment, and later prepays the Contemporaneous Loan.Article IV—Conditions of LendingSection 4.1. General ConditionsThe obligation of RUS to make any Ad- vance hereunder is subject to satisfaction of each of the following conditions precedent on or before the date of such Advance:(a) Legal Matters.

  • However, prepayment of the Note (and any penalties) shall be mandatory under Section [5.3] hereof if the Borrower has used a Contemporaneous Loan in order to qualify for the RUS Commitment, and later prepays the Contemporaneous Loan.

  • If the Borrower shall at any time prepay in whole or in part the Contemporaneous Loan described on Schedule 1, the Borrower shall prepay the RUS Note correspondingly in Rural Utilities Service, USDA Pt. 1718, Subpt.


More Definitions of Contemporaneous Loan

Contemporaneous Loan. ’ shall mean any loan which the Borrower has used to satisfy
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Related to Contemporaneous Loan

  • Other Crossed Loans As defined in Section 2.03(a) of this Agreement.

  • 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.

  • Term SOFR Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Revolving Loan Agreement means that certain Amended and Restated Loan and Security Agreement dated as of the date hereof by and among the Borrower, the lenders from time to time party thereto and the Revolving Loan Administrative Agent.

  • Existing Loan means the loan identified on Exhibit H.

  • Existing Loan Agreement has the meaning set forth in the recitals to this Agreement.

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

  • Term Loan Agreement has the meaning assigned to such term in the recitals of this Agreement.

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

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

  • Loan Agreements means any other loan agreements entered into by and between the Trust and one or more of the Borrowers pursuant to which the Trust will make Loans to such Borrowers from moneys on deposit in the Project Fund, excluding the Project Loan Account, financed with the proceeds of the Trust Bonds.

  • Agency loan agreement means any agreement pursuant to

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

  • Subsidiary Loan Agreements means the agreements to be entered into pursuant to Section 3.01 (b) of this Agreement, as the same may be amended from time to time, and such term includes all schedules to the Subsidiary Loan Agreements;

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

  • 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”.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • 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.

  • 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.

  • SLS Loan means a Loan which was made pursuant to the Supplemental Loans for Students Program established under Section 428A of the Higher Education Act (or predecessor provisions), including Loans referred to as ALAS Loans or Student PLUS Loans.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Existing Term Loan Tranche has the meaning set forth in Section 2.16(a).

  • Subsidiary Loan Agreement means the agreement to be entered into between the Borrower and ECTEL pursuant to Section 3.01(b) of this Agreement, as the same may be amended from time to time; and such term includes all schedules to the Subsidiary Loan Agreement;

  • Initial Loan is 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.

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.