Delayed Draw Loan definition

Delayed Draw Loan. A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

Delayed Draw Loan is defined in Section 2.1.

Delayed Draw Loan means a Loan made by the Delayed Draw Lenders to Borrower pursuant to Section 2.01.

Examples of Delayed Draw Loan in a sentence

• Within fourteen (14) days of the day of the Event, the User may terminate this Agreement by written notice to the District.

• After receipt of the Loan Request for the Delayed Draw Loan, the Lender shall, on the Delayed Draw Closing Date and subject to the terms and conditions hereof, make the requested proceeds of the Delayed Draw Loan available to the Borrower by wire transfer to the account the Borrower shall have specified in its Loan Request.

• Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Delayed Draw Loan Asset or Revolving Loan.

• The Borrower may irrevocably request that the Delayed Draw Loan be made by delivering to the Lender a Loan Request on or before 10:00 a.m. on a Business Day at least three Business Days prior to the proposed Delayed Draw Closing Date.

• The obligation of the Lender to make the Delayed Draw Loan shall be subject to the prior making of the Initial Loan, the delivery of a Loan Request as requested pursuant to Section 2.3, and the satisfaction of each of the conditions precedent set forth below in Sections 5.3, 5.8, 5.19 and 5.20.

More Definitions of Delayed Draw Loan

Delayed Draw Loan. Any Loan with respect to which the Issuer is obligated to make or otherwise fund future term-loan advances to a borrower, but such future term-loan advances may not be paid back and reborrowed.

Delayed Draw Loan means a loan with respect to which the Issuer may be obligated to make or otherwise fund future term-loan advances to a borrower, but such future term-loan advances may not be paid back and reborrowed; provided that for purposes of the Portfolio Criteria, the principal balance of a Delayed-Draw Loan, as of any date of determination, refers to the sum of (i) the funded portion of such Delayed-Draw Loan as of such date and (ii) the unfunded portion of such Delayed-Draw Loan as of such date.

Delayed Draw Loan has the meaning given to such term in the Reference Obligation Indenture.

Delayed Draw Loan has the meaning specified in Section 2.01(c).

Delayed Draw Loan means each of the First Delayed Draw Loan and the Second Delayed Draw Loan.

Delayed Draw Loan means the term loan made by the Lender on the Delayed Draw Date in an aggregate principal amount of $10,000,000.

Delayed Draw Loan means, as of any date, a term loan that has not yet been fully funded.