GP Loan definition

GP Loan means a loan required to be made by the General Partner to the Partnership pursuant to Subsection 3.3(b) hereof. Each GP Loan shall: (a) bear no interest, (b) be repayable only from Distributable Cash other than proceeds of the Initial Loan, (c) be unsecured, and (d) be with recourse solely to the assets of the Partnership and no Partner will have any obligation or liability on account thereof.
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GP Loan means a loan from the GP through the Environmental Response Fund to Borrower in an original principal amount of $390,982.00.
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GP Loan has the meaning set forth in the Recitals.
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Examples of GP Loan in a sentence

  • At the time that any Special GP Loan is outstanding, the General Partner shall maintain a net worth of at least two (2) times all outstanding debt, including any Special GP Loans.

  • The General Partner shall certify that it shall comply with this provision prior to receiving a Special GP Loan or as soon as practicable after the General Partner has become aware that a Special GP Loan has been made.

  • By making a GP Loan, Wichita GP does not waive, release or modify any claim of, or remedies with respect to a default, if any, by AHF under this Agreement.

  • If the Wichita GP funds such a curative GP Loan by cash, certified check or wire transfer of immediately available funds within such six month period, the Partnership shall immediately use the proceeds of such loan to make a payment (a "Cure Payment") on the LP Loan equal to the amount of such GP Loan.

  • If the Wichita GP does not fund such GP Loan by cash, certified check or wire transfer of immediately available funds within such six month period, then the right of the Wichita GP to make a GP Loan with respect to that particular increase in the Excess LP Loan Amount, and consequently reduce the Excess LP Loan Amount under this Section 5.10(g), shall terminate.

  • For a period of six months after the date AHF or its designee has made an LP Loan (other than a Default LP Loan) which increases the Excess LP Loan Amount (an "Excess LP Loan"), Wichita GP shall have the right to make a GP Loan in an amount equal to the amount by which such Excess LP Loan increased the Excess LP Loan Amount, plus the accrued interest on such Excess LP Loan.

  • Any distribution to which the General Partner is entitled pursuant to clause (i) of the first sentence of Section 7.1.3(f) of this Agreement (after taking into account the offset provision of the second sentence of Section 7.1.3(f) of this Agreement) shall be applied against and used to prepay the outstanding balance, if any, of principal or interest on any Special GP Loans, with such prepayments allocated to the earliest Special GP Loan with an unpaid amount of principal or interest.

  • LOANS Lender/Program Loan Amount Required Funding Date County Loan ///[$2,500,000]/// On or before Closing Date GP Loan ///[$1,561,811]/// On or before Closing Date Sponsor Loan ///[$11,548,157]/// On or before Closing Date II.

  • Any distribution to which the General Partner is entitled pursuant to clause (i) of the first sentence of Section 7.1.3(e) of this Agreement (after taking into account the offset provision of the second sentence of Section 7.1.3(e) of this Agreement) shall be applied against and used to prepay the outstanding balance, if any, of principal or interest on any Special GP Loans, with such prepayments allocated to the earliest Special GP Loan with an unpaid amount of principal or interest.


More Definitions of GP Loan

GP Loan means the loan in the principal amount of approximately ZAR93,260,853 owed by the Borrower to RPM as at the date of this Agreement relating to the financing of the development of the Ga-Phasha Project.
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Related to GP Loan

  • PPP Loan has the meaning set forth in Section 3.28.

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • SOFR Loan means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

  • 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;

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • 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.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • 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.

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

  • Term Loan as defined in Section 2.1.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • Term SOFR Loan means a Loan that bears interest at a rate based on Term SOFR.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • 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.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01.

  • Loan Advance The meaning specified in Section 2.2(a).

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • 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.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Term SOFR Borrowing means, as to any Borrowing, the Term SOFR Loans comprising such Borrowing.