Lender Option definition

Lender Option means the option granted to the Lender pursuant to that certain distribution option agreement dated as of the date of this Agreement whereby the Lender will acquire the option to negotiate an exclusive distribution agreement for the Borrower’s Products for Canada, Russia, Sub-Sahara Africa and Israel.
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Lender Option. (a) On or prior to the funding of the thirtieth (30th) Loan, upon written notice to the Borrower, the Lender shall have the right (but not the obligation) to: (i) increase the aggregate amount of all Loans (whether previously funded or to be funded under the Commitment) to an amount such that each Loan will be equal to eighty percent (80%) of the lesser of: (x) the Approved Construction Costs of the respective Approval Motel Facility; and (y) the fair market value of the respective Approved Motel Facility as set forth in the Appraisal included with the respective Proposed Motel Facility Statement, or (ii) increase the aggregate amount of all Loans (whether previously funded or to be funded under the Commitment) to an amount such that each Loan will be equal to ninety percent (90%) of the lesser of: (x) the Approved Construction Costs of the respective Approved Motel Facility; and (y) the fair market value of the respective Approved Motel Facility as set forth in the Appraisal included with the respective Proposed Motel Facility Statement.
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Examples of Lender Option in a sentence

  • For Lender Option Borrower Option (LOBO) loans the effective interest rate has been calculated over the life of the loan.

  • For Lender Option Borrower Option (LOBO) loans, the effective interest rate has been calculated over the life of the loan.

  • These are deposits placed with a bank which offers collateral backing based on Lender Option Borrower Option loans borrowed by local authorities.

  • Where market loans are defined as Lender Option Borrower Option (LOBO’s), these are accounted for as short term loans if they have options occurring within the next financial year.

  • It includes Lender Option Borrower Option Loans (LOBO) which allow the lender to change the rate of interest at specified periods, allowing the Council to either accept the new rate or repay the loan before the contractual maturity date.

  • The items in this class include the Authority’s PWLB debt, its Lender Option Borrower Option (LOBO) loan and all trade creditors.

  • For stepped Lender Option Borrower Option loans the effective interest rate has been calculated over the life of the loan.

  • These cover such areas as soft loans, Lender Option Borrowing Option (LOBO) loans, immaterial transactions, exchanges of debt instruments and hedge accounting.

  • If the lender does have the right to increase the interest rate payable (as is the case with a Market Loan (LOBO – Lender Option Borrower Option loan)), then this should be treated as a right to require payment.

  • The right to increase the interest rate payable without limit, as in a 'Lender Option, Borrower Option' (LOBO) loan, is treated as a right to require repayment.

Related to Lender Option

  • LIBOR Option has the meaning specified therefor in Section 2.12(a) of the Agreement.

  • Additional Refinancing Lender has the meaning set forth in Section 2.15(a).

  • Refinancing Lender has the meaning assigned to such term in Section 2.23(c).

  • Refinancing Lenders has the meaning specified in Section 2.15(c).

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Consenting Lender has the meaning specified in Section 2.19(b).

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Refinancing Revolving Lender has the meaning assigned to such term in Section 2.26(a).

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Extending Lender shall have the meaning assigned to such term in Section 2.21(e).

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Additional Commitment Lender shall have the meaning provided in Section 2.15(c).

  • LOC Commitment means the commitment of the Issuing Lender to issue Letters of Credit and with respect to each Lender, the commitment of such Lender to purchase participation interests in the Letters of Credit up to such Lender's LOC Committed Amount as specified in Schedule 2.1(a), as such amount may be reduced from time to time in accordance with the provisions hereof.

  • Non-U.S. Lender as defined in Section 2.17(d).

  • Commitment Increase Notice as defined in Section 2.1(b).

  • Incremental Revolving Lender means a Lender with an Incremental Revolving Commitment.

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Term Facility Commitment means the commitment of a Term Lender to make Term Loans, including Initial Term Loans and/or Other Term Loans.

  • Existing Lenders as defined in the recitals hereto.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Tranche C Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TFA pursuant to Section 2.1(c) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche C Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Tranche B Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan hereunder on the Effective Date, expressed as an amount representing the maximum principal amount of the Tranche B Term Loan to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Tranche B Commitment is set forth on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Tranche B Commitment, as the case may be. The initial aggregate amount of the Lenders’ Tranche B Commitments is $750,000,000.