Eligible Medallion Loan definition

Eligible Medallion Loan means a Medallion Loan that satisfies all of the criteria set forth on Exhibit D to this Agreement.
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Eligible Medallion Loan means a Medallion Loan purchased by the Borrower from a Seller (a) which satisfies the eligibility characteristics set forth on Schedule I hereto on and as of the applicable Funding Date and which continues to satisfy such eligibility characteristics at all times thereafter while such Medallion Loan is included in the Borrowing Base, (b) as to which the Agent has received evidence satisfactory to the Agent that such Medallion Loan was acquired by each of the Seller and the Borrower pursuant to a “true sale” transaction and (c) has not been excluded as an “Eligible Medallion Loan” pursuant to Section 6.03.
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Eligible Medallion Loan means any Medallion Loan that satisfies the ----------------------- Eligibility Requirements and (a) that is secured by Medallion Rights and (b) that is made to an Eligible Client that is an ongoing business concern; provided, that, no Loan shall be an Eligible Medallion Loan (i) if a Credit -------- ---- Party, in its reasonable business judgment, deems such Eligible Medallion Loan to be uncollectible or subject to classification as non-accruing and for which it has not made appropriate credits to its reserves, or (ii) if the Loan or accrued interest thereon is more than 60 days past due.. "Eligible Loans" shall mean any Loan that constitutes or comprises either -------------- an Eligible Medallion Loan or Eligible Commercial Loan or Guaranteed BL Loan.
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Examples of Eligible Medallion Loan in a sentence

  • As of the date on which a Medallion Loan is sold hereunder, such Medallion Loan is an Eligible Medallion Loan.

  • Notwithstanding anything to the contrary contained herein or in any other Loan Document, upon the occurrence of an Affiliated Seller Purchase Termination Event with respect to any Affiliated Seller, each Medallion Loan sold by such Affiliated Seller under the applicable Affiliated Seller Loan Sale Agreement shall cease to be an Eligible Medallion Loan for all purposes under the Loan Documents, including without limitation for purposes of calculating the Borrowing Base.

  • On the date of such substitution, such new Eligible Medallion Loan shall become a Medallion Loan that has been purchased by the Buyer and the Ineligible Medallion Loan so replaced shall cease to be a Medallion Loan purchased by the Buyer.


More Definitions of Eligible Medallion Loan

Eligible Medallion Loan means a Medallion Loan purchased by the Borrower from a Seller (a) which satisfies the eligibility characteristics set forth on Schedule 1 hereto on and as of the applicable Funding Date and which continues to satisfy such eligibility characteristics at all times thereafter while such Medallion Loan is included in the Borrowing Base and (b) as to which the Lender has received evidence satisfactory to the Lender that such Medallion Loan was acquired by each of the Seller and the Borrower pursuant to a “true sale” transaction; provided, that in no event shall any Junior Specified Chicago Medallion Loan qualify as an Eligible Medallion Loan.
Sample 1
Eligible Medallion Loan means any Medallion Loan that satisfies the Eligibility Requirements and that is secured by Medallion Rights.
Sample 1
Eligible Medallion Loan means any Medallion Loan that satisfies ----------------------- the Eligibility Requirements and that is secured by Medallion Rights.
Sample 1
Eligible Medallion Loan means a Medallion Loan purchased by the Borrower from a Seller (a) which satisfies the eligibility characteristics set forth on Schedule 1 hereto on and as of the applicable Funding Date and which continues to satisfy such eligibility characteristics at all times thereafter while such Medallion Loan is included in the Borrowing Base and (b) in the case of a Medallion Loan described in (ii) or (iii) of the definition of "Medallion Loan," as to which the Lender has received evidence satisfactory to the Lender that such Medallion Loan was acquired by such Seller in a "true sale" transaction.
Sample 1
Eligible Medallion Loan means a Medallion Loan purchased by the Borrower from a Seller (a) which satisfies the eligibility characteristics set forth on Schedule 1 hereto on and as of the applicable Funding Date and which continues to satisfy such eligibility characteristics at all times thereafter while such Medallion Loan is included in the Borrowing Base and (b) as to which the Administrative Agent has received evidence satisfactory to the Administrative Agent that such Medallion Loan was acquired by each of the Seller and the Borrower pursuant to a “true sale” transaction.
Sample 1
Eligible Medallion Loan means any Medallion Loan that satisfies the Eligibility Requirements and (a) that is secured by Medallion Rights and (b) that is made to an Eligible Client that is an ongoing business concern; provided, that, no Loan shall be an Eligible Medallion Loan (i) if a Borrower, in its reasonable business judgment, deems such Eligible Medallion Loan to be uncollectible or subject to classification as non-accruing and for which it has not made appropriate credits to its reserves or (ii) if the Loan or accrued interest thereon is more than 60 days past due.
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Related to Eligible Medallion Loan

  • Eligible Mortgage Loan means a Mortgage Loan (including a Wet Funded Loan) with respect to which each of the following statements shall be accurate and complete (and Borrower, by including such Mortgage Loan in any computation of the Borrowing Base, shall be deemed to so represent and warrant to the Lenders as of the date of such computation):

  • Small loan means a loan of less than five thousand dollars ($5,000), not secured

  • Eligible Loan means a Loan offered for sale or substituted by SLM ECFC under a Purchase Agreement which as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, is current or not more past due than permitted under such Purchase Agreement in payment of principal or interest and which meets the following criteria as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the effective date of the related Xxxx of Sale, in the case of any Additional Loan or Substituted Loan: (i) is a Consolidation Loan; (ii) is owned by SLM ECFC and is fully disbursed; (iii) is guaranteed as to principal and interest by the applicable Guarantor to the maximum extent permitted by the Higher Education Act for such Loan; (iv) bears interest at a stated rate of not less than the maximum rate permitted under the Higher Education Act for such Loan; (v) is eligible for the payment of the quarterly special allowance at the full and undiminished rate established under the formula set forth in the Higher Education Act for such Loan; (vi) if not yet in repayment status, is eligible for the payment of interest benefits by the Secretary or, if not so eligible, is a Loan for which interest either is billed quarterly to Borrower or deferred until commencement of the repayment period, in which case such accrued interest is subject to capitalization to the full extent permitted by the applicable Guarantor; (vii) is current or no payment of principal or interest shall be more than 210 days past due as of the Statistical Cutoff Date, in the case of the Initial Loans, or in relation to any Additional Loan or Substituted Loan, the related Subsequent Cutoff Date; (viii) the last disbursement was before the Statistical Cutoff Date, in the case of the Initial Loans, or before the Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan; (ix) is supported by the following documentation: 1. loan application, and any supplement thereto, 2. original promissory note and any addendum thereto (or a certified copy thereof if more than one loan is represented by a single promissory note and all loans so represented are not being sold) or the electronic records evidencing the same, 3. evidence of guarantee, 4. any other document and/or record which Funding may be required to retain pursuant to the Higher Education Act, 5. if applicable, payment history (or similar document) including (i) an indication of the Principal Balance and the date through which interest has been paid, each as of the Statistical Cutoff Date, in the case of the Initial Loans, or the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, and (ii) an accounting of the allocation of all payments by the Borrower or on the Borrower’s behalf to principal and interest on the Loan, 6. if applicable, documentation which supports periods of current or past deferment or past forbearance, 7. if applicable, a collection history, if the Loan was ever in a delinquent status, including detailed summaries of contacts and including the addresses or telephone numbers used in contacting or attempting to contact Borrower and any endorser and, if required by the Guarantor, copies of all letters and other correspondence relating to due diligence processing, 8. if applicable, evidence of all requests for skip-tracing assistance and current address of Borrower, if located, 9. if applicable, evidence of requests for pre-claims assistance, and evidence that the Borrower’s school(s) have been notified, and 10. if applicable, a record of any event resulting in a change to or confirmation of any data in the Loan file.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Eligible advance means an advance made before August 19, 1993.

  • Eligible Loan Asset means, at any time, a Loan Asset in respect of which each of the representations and warranties contained in Section 4.02 and Schedule III hereto is true and correct.

  • Unsubsidized Xxxxxxxx Loan means a Loan made pursuant to Section 428H of the Higher Education Act.

  • Subsidized Xxxxxxxx Loan means a Loan for which the interest rate is governed by Section 427A(a) or 427A(d) of the Higher Education Act.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Consolidation Loan means a Loan made pursuant to and in full compliance with Section 428C of the Higher Education Act.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Eligible Borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Qualified Loan means a loan made under this act or former 1961 PA 108 from this state to a school district to pay debt service on a qualified bond.

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Qualified Bank means a U.S. commercial bank or the U.S. branch office of a foreign bank, in either case, having (x) assets on its most recent audited balance sheet of at least $10,000,000,000 and (y) a rating for its senior long-term unsecured debt obligations of at least (A) “A-” by S&P and “A3” by Moody’s, if such entity is rated by both S&P and Moody’s or (B) “A-” by S&P or “A3” by Moody’s, if such entity is rated by either S&P or Moody’s but not both.

  • REMIC Eligible Mortgage Loan A Mortgage Loan held by a REMIC which satisfies and/or complies with all applicable REMIC Provisions.

  • Jumbo Loan means a Mortgage Loan (other than a Conforming Loan) that (1) is underwritten by an Approved Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), (2) matches all applicable requirements for purchase under the requirements of a Take-Out Commitment issued for the purchase of such Mortgage Loan, (3) differs from a Conforming Loan solely because the principal amount of such Mortgage Loan exceeds the limit set for Conforming Loans by Xxxxxx Xxx or Xxxxxxx Mac from time to time, and (4) is a First Lien Mortgage Loan.

  • Eligible applicant means a school district, joint

  • 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”.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Loan Pool means: (a) in the context of a Securitization, any pool or group of loans that are a part of such Securitization; (b) in the context of a Transfer, all loans which are sold, transferred or assigned to the same transferee; and (c) in the context of a Participation, all loans as to which participating interests are granted to the same participant.

  • Eligible Portfolio Investment means any Portfolio Investment held by any Obligor (and solely for purposes of determining the Borrowing Base, Cash and Cash Equivalents held by any Obligor) that, in each case, meets all of the criteria set forth on Schedule 1.01(d) hereto; provided, that no Portfolio Investment, Cash or Cash Equivalent shall constitute an Eligible Portfolio Investment or be included in the Borrowing Base if the Collateral Agent does not at all times maintain a first priority, perfected Lien (subject to no other Liens other than Eligible Liens) on such Portfolio Investment, Cash or Cash Equivalent or if such Portfolio Investment, Cash or Cash Equivalent has not been or does not at all times continue to be Delivered (as defined in the Guarantee and Security Agreement). Without limiting the generality of the foregoing, it is understood and agreed that any Portfolio Investments that have been contributed or sold, purported to be contributed or sold or otherwise transferred to any Financing Subsidiary, or held by any Financing Subsidiary, or which secure obligations of any Financing Subsidiary, shall not be treated as Eligible Portfolio Investments until distributed, sold or otherwise transferred to the Borrower free and clear of all Liens (other than Eligible Liens). Notwithstanding the foregoing, nothing herein shall limit the provisions of Section 5.12(b)(i), which provide that, for purposes of this Agreement, all determinations of whether an Investment is to be included as an Eligible Portfolio Investment shall be determined on a settlement-date basis (meaning that any Investment that has been purchased will not be treated as an Eligible Portfolio Investment until such purchase has settled, and any Eligible Portfolio Investment which has been sold will not be excluded as an Eligible Portfolio Investment until such sale has settled), provided that no such Investment shall be included as an Eligible Portfolio Investment to the extent it has not been paid for in full.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.