Delayed Funding Loan Asset definition

Delayed Funding Loan Asset means each Loan Asset with respect to which the Borrower has a revolving credit or delayed draw term commitment to advance amounts to the applicable Obligor during a specified term.
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Examples of Delayed Funding Loan Asset in a sentence

  • Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Manager to the Custodian (with a copy to the Administrative Agent) in the form of a Borrower Notice, and the Custodian shall instruct the Account Bank to fund such draw request in accordance with the Loan Asset Documents pertaining to such Delayed Funding Loan Asset.

  • Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Delayed Funding Loan Asset; provided that, the amount withdrawn to fund such draw request shall not cause the Borrowing Base Test to fail to be satisfied.

Related to Delayed Funding Loan Asset

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

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

  • Loan Asset means each commercial loan identified on Schedule A hereto, and each commercial loan identified on any Purchase Notice.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.

  • Initial Loan is defined in Section 2.1.