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.
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.
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.