Customer Loan definition

Customer Loan means a commercial loan made by Borrower in the ordinary course of Borrower’s business, or by the Originating Bank and acquired by Borrower from the Originating Bank in the ordinary course of Borrower’s business, and all sums due from the Customer Loan Obligor in connection therewith, which loan has not been sold or transferred, or purported to be sold or transferred, by Borrower.

Customer Loan any Loan which has been designated by KECS pursuant to Section 2.02 or Section 2.04 (or redesignated pursuant to Section 7 of the KECS Security Agreement) as a “Customer Loan”.

Customer Loan means any advance, loan guarantee or other extension of credit (other than any advance, loan or other extension of credit to a customer in the ordinary course of business that is recorded as an account receivable on the consolidated balance sheet of the Company and its Subsidiaries) (a "loan") provided to a customer of the Company or any Subsidiary in the ordinary course of business of the Company and its Subsidiaries and having a maturity not in excess of five years from the incurrence thereof, provided that any such loan made after the date of this Indenture is evidenced by a note made payable to the Company or its Subsidiaries and is approved by a credit committee or authorized officer of the Company.

Examples of Customer Loan in a sentence

• Participating Customers shall be required to execute a separate Residential Customer Loan Agreement which will specify the fixed monthly charge and other applicable terms.

• The Customer Loan Amount shall be paid to the Company by the Participating Customer through a fixed monthly charge applied over a term of months as established in the Customer Loan Agreement.

• Participating Customers may specify the repayment term of the Customer Loan Amount subject to the maximum repayment term limit of 24 months.

• There are no defenses, offsets, counterclaims or agreements for which a Customer may claim any deduction or discount with respect to any Originated Customer Loan (except with respect to Originated Customer Loans representing an immaterial portion of the total Originated Customer Loans).

• In the case the debt restructuring involves modification of terms of receivables, the fair value of investments in receivables after restructuring is based on the net present value of the expected future cash flows, discounted by the Minimum Loan Rate (“MLR”) or Customer Loan Rate (“CLR”) prevailing at the restructuring date.

More Definitions of Customer Loan

Customer Loan has the meaning given to such term in Section 9.4(o).

Customer Loan means any Revolving A Loan or Revolving A Swing Loan which has been designated by KCA in the Notice of Borrowing as a “Customer Loan”.

Customer Loan means, in respect of any Loan SPA Project, the agreement(s) pursuant to which the related Host Customer incurs Indebtedness for borrowed money owing to a Loan Party to finance such Host Customer’s purchase of the associated PV System.

Customer Loan means, at any date, any Loan which has been designated pursuant to Section 2.03 or Section 2.05(b) (or redesignated pursuant to Section 6 of the Security Agreement), as the case may be, by the Borrower as a “Customer Loan”. Notwithstanding anything herein to the contrary, a Loan may not be designated or redesignated, as the case may be, as a Customer Loan to the extent that such designation or redesignation would cause the Borrower to violate any Requirement of Law applicable to it.

Customer Loan means a loan made by Originator or an Originating Dealer (in each case, using the current “Banker’s System” form Customer Loan Documents for each applicable jurisdiction maintained by Xxxxxxxx and Xxxxxxxx) to an Account Debtor the proceeds of which were used by the Account Debtor to finance the purchase of a vehicle and that is secured by a security interest in such vehicle, which loan was originated by Originator or an Originating Dealer and then sold to Borrower pursuant to and in accordance with the Purchase and Sale Agreement.

Customer Loan has the meaning set forth in Section 3.21.

Customer Loan means, at any date, any Loan which has been designated by EDJ in writing pursuant to Section 2.03 or Section 2.05(b), as the case may be, as a “Customer Loan”. Notwithstanding anything herein to the contrary, a Loan may not be designated or redesignated, as the case may be, as a Customer Loan to the extent that such designation or redesignation would cause EDJ to violate any law, rule or regulation applicable to it.