Delayed Funding Loan definition

Delayed Funding Loan means a Collateral Loan pursuant to which one or more future advances will be required to be made to the Obligor thereunder but which does not permit any such advance that has been made to be reborrowed once repaid by the Obligor; provided that such loan shall only be considered to be a Delayed Funding Loan to the extent of the unfunded commitment and only for so long as any future funding obligations remain in effect.
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Delayed Funding Loan means a Collateral Loan pursuant to which one or more future advances will be required to be made to the Obligor thereunder but which does not permit any such advance that has been made to be reborrowed once repaid by the Obligor; provided that such loan shall only be considered to be a Delayed Funding Loan to the extent of the undrawn commitment and only for so long as any future funding obligations remain in effect; provided, further that for purposes of the Eligibility Criteria, the principal balance of a Delayed Funding Loan, as of any date of determination, refers to the sum of (i) the funded portion of such Delayed Funding Loan as of such date and (ii) the unfunded portion of such Delayed Funding Loan as of such date.
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Examples of Delayed Funding Loan in a sentence

  • The Borrower may not sell a participation interest in a Revolving Collateral Loan or a Delayed Funding Loan.

  • Any Loan that requires one or more future advances to be made to the borrower but which, once all such advances have been made, has the characteristics of a term loan; provided that each such Loan will only be considered a Delayed Funding Loan for so long as there exists any Unfunded Amount and such future funding obligations remain in effect.

  • Any Loan that requires one or more future advances to be made to the borrower but which, once all such advances have been made, has the characteristics of a term loan; provided that each such Loan shall only be considered a Delayed Funding Loan for so long as there exists any Unfunded Amount and such future funding obligations remain in effect.

  • As of any date, with respect to any Revolving Collateral Loan or Delayed Funding Loan, the excess of (a) the Issuer's maximum funding commitment thereunder (less any amount of such funding commitment that has been participated by the Issuer pursuant to Section 12.1(f); provided that the conditions to such participation set forth therein are satisfied at such time) over (b) the Principal Balance of such Revolving Collateral Loan or Delayed Funding Loan.

  • Any Loan that requires one or more future advances to be made to the borrower but which, once all such advances have been made, has the characteristics of a term loan; provided that each such Loan shall only be considered a Delayed Funding Loan to the extent of any Unfunded Amount that has not expired or been reduced to zero.

  • Except with respect to the funding commitment assumed by the Buyer with respect to any Delayed Funding Loan or Revolving Collateral Loan, no obligation or liability to any Obligor under any of the Collateral Loans is intended to be assumed by the Buyer, the Administrative Agent or any of the other the Secured Parties under or as a result of this Agreement and the transactions contemplated hereby.

  • Except with respect to the funding commitment assumed by the Buyer with respect to any Delayed Funding Loan or Revolving Collateral Loan, no obligation or liability to any Obligor under any of the Collateral Loans is intended to be assumed by the Buyer, the Collateral Agent or any of the other the Secured Parties under or as a result of this Agreement and the transactions contemplated hereby.

  • The Borrower will not extend, amend or otherwise modify, or permit the Manager on its behalf to extend, amend or otherwise modify, the terms of any Loan Asset in a manner inconsistent with the Management Standards, and in any case will not amend or otherwise modify any Delayed Funding Loan Asset or other Eligible Loan Asset to extend the maturity date thereof on any date following the end of the Revolving Period.

  • As used herein, "Relevant Person" means, at any time, each Person that is a Selling Institution in respect of anyParticipation Interest at such time and each Person that holds a Participation Interest sold by the Issuer in a Revolving Collateral Loan or Delayed Funding Loan at such time.

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Related to Delayed Funding Loan

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

  • Delayed Draw Term Lender means, at any time, any Lender that has a Delayed Draw Term Commitment or a Delayed Draw Term Loan at such time.

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

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • 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”.

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

  • Revolving Loan means a Loan made pursuant to Section 2.01.

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

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

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