Initial Loan Balance means the principal amount of the initial Loans made by the Lenders to the Borrower on the Initial Loan Date.
Initial Loan Balance means $75,000,000.
Initial Loan Balance. With respect to a Loan, the excess of (x) the aggregate amount advanced under such Loan toward the purchase price of the Equipment, including insurance premiums, service and warranty contracts, federal excise and sales taxes and other items customarily financed as part of an Equipment Note and related costs, over (y) payments received from the Obligor prior to the Cutoff Date that have been allocated in accordance with the terms of such Loan to the reduction of the unpaid principal balance of such Loan.
Examples of Initial Loan Balance in a sentence
The Loan Notes shall be issued on the Closing Date in substantially the form set forth in Exhibit B-3 hereto with an aggregate initial principal amount equal to the Initial Loan Balance.
The credit fees and charges that will be accounted for in the Initial Loan Balance on the Settlement Date are also described in the Loan Details.
It does not include any additional Advances available to you under the Facility Limit or any fees that we deduct from the Initial Loan Balance on the Settlement Date.
More Definitions of Initial Loan Balance
Initial Loan Balance means the total amount borrowed under the Loan as at the Disclosure Date as specified in the Commercial Terms (or such other amount as we may agree).
Initial Loan Balance means, with respect to any Lender, the aggregate principal amount of the Loans funded by such Lender pursuant to Sections 2.01 and 2.02 LEGAL02/42958175v30
Initial Loan Balance. $1,079,188,685.11.
Initial Loan Balance means, with respect to an Equipment Loan, -------------------- the aggregate amount advanced toward the purchase price of all Equipment related to such Equipment Loan, including related leasehold improvements, accessories, insurance premiums, service and warranty contracts, federal excise taxes, sales taxes and other items customarily financed as part of the loan and related costs, less payments received from the Obligor prior to such Equipment Loan being included in the Borrowing Base.
Initial Loan Balance is defined in Section 2.7 of this Agreement.
Initial Loan Balance are outstanding under the Equipment Loan (as defined in the Original Loan Agreement) as of the date hereof, and such Initial Loan Balance (i) shall be deemed to be Equipment Loans hereunder and shall be included in determining availability under the Equipment Loan (but not the number of advances), (ii) shall be evidenced by, and continue to bear interest and amortize at the rates and in the manner set forth in the Initial Note as amended and restated contemporaneously herewith, and (iii) shall otherwise be subject to the terms and conditions hereof, including without limitation, the provisions of Section 8 hereof, and of the other Loan Documents, and (c) all Letters of Credit (as defined in the Original Loan Agreement) shall be deemed to be Letters of Credit outstanding hereunder, and such Letters of Credit shall hereafter be subject to the terms and conditions hereof and of the other Loan Documents. PNC Bank has, effective on the date hereof, assigned to the other Lenders their respective Commitment Percentage of PNC Bank's rights and obligations under the Initial Note.
Initial Loan Balance means the total amount identified as such in the Loan Details. Law means common law, principles of equity, statutes and any subsidiary legislation of any government or local authority. Loan Agreement has the meaning given to that term on the front page of this document.