Discretionary Loans definition

Discretionary Loans and individually, "Discretionary Loan", shall mean loans made by a Bank pursuant to Section 2.04.

Discretionary Loans. Any loans made by the Lender to the Borrower, in the Lender’s sole and absolute discretion, under the Discretionary Facility, including, without limitation, the Initial Advances.

Discretionary Loans shall have the meaning set forth in Section 2.04(a).

Examples of Discretionary Loans in a sentence

• The Company's obligation to repay all Discretionary Loans shall be evidenced by a promissory note substantially in the form of Exhibit C hereto (the "Firm Securities Note").

• The Company agrees that the proceeds of the Revolving Credit Loans and Discretionary Loans hereunder shall be used by the Company only to refinance other borrowings of the Company and for general corporate purposes of the Company and its Subsidiaries.

• The Lender may sell participation interests in any or all of the Discretionary Loans and in all or any portion of the Discretionary Facility to any Person.

• The entries made in the accounts maintained pursuant to this Section 2.06(a) shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Bank to maintain such accounts or any error therein shall not in any manner affect the obligation of the Company to repay the Discretionary Loans in accordance with their terms.

• The aggregate Collateral Value of Firm Securities subject to Agreements to Pledge in favor of the Bank shall at all times equal or exceed the aggregate unpaid principal amount of Discretionary Loans.

More Definitions of Discretionary Loans

Discretionary Loans means Loans made by the Lenders hereunder in their sole and absolute discretion, as opposed to pursuant to their respective Commitments.

Discretionary Loans has the meaning assigned to such term in Section 9.22(a).

Discretionary Loans means loans made by a Bank pursuant to Section 2.06.

Discretionary Loans means Mortgage Loans approved for purchase by the Agent in the exercise of its discretion pursuant to Section 22.8.

Discretionary Loans means Mortgage Loans approved for purchase by the Agent or with respect to which Agent has provided a waiver pursuant to Section 22.8. “Discretionary Loan Sublimit” is defined in the table set forth in Section 4.2(c). “Disqualifier” means any of the circumstances or events affecting Purchased Loans that are described on Schedule DQ. “Dry Loan” means an Eligible Loan originated by the Seller that has been closed, funded and qualifies without exception as an Eligible Loan, including satisfying the requirement that all of its Basic Papers have been delivered to the Custodian. “Effective Date” means July 30, 2020. “Electronic Agent” means MERSCORP, Inc. or its successor in interest or assigns. “Electronic Tracking Agreement” means a written Electronic Tracking Agreement among the Seller, the Agent, MERS and the Electronic Agent, in form and substance acceptable to the Seller and the Agent, as it may be supplemented, amended, restated or replaced from time to time. “Electronic Transmission” means each document, instruction, authorization, file, information and any other communication transmitted, posted or otherwise made or communicated by e-mail or E-Fax, or otherwise to or from an E-System or other equivalent service. “Eligible Assignee” means (a) a Buyer; (b) a Buyer Affiliate; or (c) any other Person (other than a natural person) approved by the (i) Agent and Swing Line Buyer, and (ii) unless an Event of Default has occurred and is continuing, the Seller (each such approval not to be unreasonably withheld or delayed); provided that (x) notwithstanding the foregoing, “Eligible Assignee” shall not include any natural person, the Seller, or any of the Seller’s Affiliates or Subsidiaries, (y) no assignment shall be made to a Defaulting Buyer (or a Person who would be a Defaulting Buyer if such Person was a Buyer hereunder) without the consent of Agent and Seller; and (z) that notwithstanding clause (c)(ii) of this definition, so long as no Event of 11 Bodman_16842095_7

Discretionary Loans is defined in Section 2.1 hereof.

Discretionary Loans has the meaning as defined in SECTION 2.6(c).