First Loan Year definition

First Loan Year means the period commencing on the Effective Date and ending on the date immediately preceding the first anniversary of the Effective Date.
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First Loan Year shall commence on the Closing Date and shall end on the day prior to the Closing Date one year later, and the "Second Loan Year" shall commence on the first annual anniversary of the Closing Date and shall end one year later and so on.
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First Loan Year means the calendar year commencing on February 1, 2002 and each succeeding "Loan Year" shall commence on each February 1st thereafter. Maker shall have the privilege, in the absence of an uncured Event of Default, of making prepayments in full of the outstanding principal amount of the Loan, together with any unpaid interest, on any Monthly Installment due date as follows:
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Examples of First Loan Year in a sentence

  • During the First Loan Year, amounts borrowed under this subsection 2.2(c) and repaid or prepaid may be reborrowed subject to the conditions precedent set forth in Sections 4.1 and 4.2 hereof.

  • For purposes of this Note, a “Loan Year” shall refer to each twelve (12)-month period (except the First Loan Year shall include the period between the date hereof and the first day of the next succeeding calendar month).

  • Loan Year" shall mean a period consisting of twelve (12) consecutive months commencing on the First day of the first calendar month subsequent to the date hereof, or on any anniversary thereof, the First Loan Year being a Loan Year commencing the First day of February, 1999.

  • For purposes of making such determination the date of this Note shall be the first day of the First Loan Year and each successive Loan Year will be determined accordingly.


More Definitions of First Loan Year

First Loan Year means the period from the date hereof, to and including December 9, 2007.
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Related to First Loan Year

  • Loan Year means each period of twelve (12) consecutive months commencing on the Closing Date and on each anniversary thereof.

  • Net Loan Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.

  • Incremental Term Loan Installment Date shall have, with respect to any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the meaning assigned to such term in Section 2.10(a)(ii).

  • Term Loan Installment Date means any Term B Loan Installment Date or any Incremental Term Loan Installment Date.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

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

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Term Loan Credit Agreement shall have the meaning set forth in the recitals hereto.

  • Maximum Term Loan Amount means Forty Million and No/100 Dollars ($40,000,000).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).