Interest Holdback definition

Interest Holdback means the Holdback for Interest as defined in a Note.

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Interest Holdback shall have the meaning set forth in Section 2.1(a).

Interest Holdback the amount of $500,000 held back from the Initial Advance for payment of accrued but unpaid interest on the Loan.

Examples of Interest Holdback in a sentence

Notwithstanding the foregoing, B Participant shall have no obligation to fund interest from the Interest Holdback if B Participant has determined to take an Enforcement Action, if the Interest Holdback is exhausted or if B Participant has made a non-recoverability decision under Section 5K.
B Participant agrees to disburse Loan proceeds from the Holdbacks (other than the Interest Holdback) in accordance with and subject to the terms and conditions of the applicable Loan Agreement and Loan Documents and the terms and conditions of this Agreement.
Interest that would be payable to B Participant under Section 4 may be disbursed to B Participant by book entry, and all interest disbursed from the Interest Holdback, whether in cash or by book entry, shall be added to the principal balance of the applicable Note.
Establishment of the Interest Holdback shall in no way relieve the Borrowers of their obligation to make interest payments.
By execution hereof, each Borrower irrevocably authorizes the Agent, without the necessity of any further authorization, to cause the Lenders to disburse directly to itself for the account of the Lenders rather than to a Borrower out of the Interest Holdback such sums as are necessary to pay, on a monthly basis, accrued interest on the Loans (and any amount so advanced by the Lenders without the submission by a Borrower of a Loan Request shall be Base Rate Loans).

More Definitions of Interest Holdback

Interest Holdback shall have the meaning given to such term in Exhibit D of this Agreement.

Interest Holdback has the meaning assigned in Section 2.1(3)(b).

Interest Holdback has the meaning set forth in Section 1.1.4.

Interest Holdback means: A holdback from the proceeds of the Loan in the amount of $13,749,726.

Interest Holdback is defined in Section 3.6.

Interest Holdback means an amount (equal initially, to $0) sufficient in the reasonable discretion of the Administrative Agent to pay the projected amount by which interest payable on the aggregate Revolving Commitments (whether disbursed or not) exceeds or is projected to exceed net operating income from the Commercial Property through the Maturity Date, which amount may be reduced or increased at the end of each calendar quarter following the Effective Date as the Administrative Agent deems in its reasonable discretion is necessary.

Interest Holdback has the meaning given such term in Section 2.1(b)(i).