IRB Loan definition

IRB Loan means Indebtedness evidenced by any of the following: (a) the Loan Agreement dated as of September 1, 1994, between South Carolina Jobs-Economic Development Authority (the “Authority”) and Borrower relating to $7,700,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing Company of America, Inc. Project) Series 1994A, (b) the Trust Indenture dated as of September 1, 1994, by and between the Authority and Xxxx Xxxxx Bank, as trustee, with respect to the bonds described in clause (a) of this definition, (c) the Loan Agreement dated as of September 1, 1994, between the Authority and Borrower relating to $1,155,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing Company of America, Inc. Project) Series 1994B, (d) the Trust Indenture dated as of September 1, 1994, by and between the Authority and Xxxx Xxxxx Bank, as trustee, with respect to the bonds described in clause (c) of this definition, (e) the Loan Agreement dated as of September 1, 1998 between the Authority and RBC Linear Precision Products, Inc. relating to $3,000,000 Tax Exempt Demand/Fixed Rate Industrial Development Revenue Bonds (RBC Linear Precision Products, Inc. Project) Series 1998, (f) the Trust Indenture dated as of September 1, 1998 with respect to the bonds described in clause (e) of this definition, (g) the Loan Agreement dated as of April 1, 1999 between California Infrastructure and Economic Development Bank and Borrower relating to $4,800,000 Variable Rate Demand Industrial Revenue Bonds Series 1999 (Roller Bearing Company of America, Inc. — Santa Xxx Project) and (h) the Indenture of Trust dated as of April 1, 1999 with respect to the bonds described in clause (g) of this definition and, in each case, the other documents executed in connection therewith.
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IRB Loan means Indebtedness evidenced by any of the following: (i) the Loan Agreement dated as of September 1, 1994, between South Carolina Jobs-Economic Development Authority (the “Authority”) and the Borrower relating to $7,700,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing Company of America, Inc. Project) Series 1994A, (ii) the Trust Indenture dated as of September 1, 1994, by and between the Authority and Mark Twain Bank, as trustee, with respect to the bonds described in clause (i) of this definition, (iii) the Loan Agreement dated as of September 1, 1994, between the Authority and the Borrower relating to $1,155,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing
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IRB Loan means Indebtedness evidenced by the Promissory Note dated September 1, 1990 executed and delivered by Borrower and Holdings in favor of Industrial Development Authority of the City of Fredericksburg Virginia in the original principal amount of $4,205,000.
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Examples of IRB Loan in a sentence

  • At such time as the Bond Reserve Deposit being held by the Trustee under the IRB Loan Documents, including any accrued and unpaid interest thereon, is applied by the Trustee to periodic Financing Payments due from EPI or to a prepayment of the IRB Loan, 50% of such funds shall be applied to the obligations of HPI under this paragraph.

  • To the extent that any portion of the obligation of EPI under the IRB Loan Documents is prepaid, at any time in the future, HPI shall have the option to prepay its liability under this paragraph on the same basis.

  • The Bank shall make the IRB Loan upon the terms, and subject in all respects to the conditions, set forth in the Bank's financing commitment dated July 18, 1997.

  • In addition, the settlement amount, which constitutes approximately 80% of the alleged damages, is fair and reasonable.

  • As of the date hereof, the aggregate outstanding principal amount of the advances under the IRB Loan Agreement is U.S. $*.

  • As of the date hereof, the aggregate outstanding principal amount of the advances under the IRB Loan Agreement is U.S. $25,000,000.

  • Appointments to the committees of the Board shall be at the discretion of the Chairperson, unless otherwise decided by the Board when the committee is formed.

  • Buyer agrees to use its reasonable efforts and to cooperate with Seller to obtain following the Closing, in connection with the assumption of the IRB Loan and the Term Loan, a release of Seller and Shareholders from their respective guaranties, in forms and substance reasonably satisfactory to Seller and the Shareholders.

  • Steve Unruhe commented on how crazy this whole process seems to have been in North Carolina.

  • Notwithstanding anything herein or in the Bond Documents to the contrary, the Bank will not be deemed to have received reimbursement of a drawing under the Letter of Credit pursuant to the terms of this Agreement and the Bond Document until both the Bank has been reimbursed by LBCI and LBCI has been repaid by the Obligors for any Performa IRB Loan with respect to the Letter of Credit.


More Definitions of IRB Loan

IRB Loan is defined in Section 2.1 hereof.
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IRB Loan means, collectively, the indebtedness of Seller evidenced by Industrial Revenue Bonds in the original aggregate amount of $3,700,000 issued as of October 1, 1994 by Windxx-Xxxxxx Xxxustrial Building Authority which has a current outstanding principal balance of approximately $3,100,000, and is secured by an irrevocable standby letter of credit issued by Wachovia Bank of Georgia, N.A. ("Bank").
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Related to IRB Loan

  • 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;

  • 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.

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Term Loan has the meaning specified in Section 2.01(b).

  • 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”.

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

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • 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.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Term C Loan is defined in Section 2.2(a)(iii) hereof.

  • Term SOFR Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

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

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

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

  • 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.

  • 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.

  • 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.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • New Revolving Loan has the meaning specified in Section 2.14(a).