Liquidation Loan definition

Liquidation Loan means the Inventory Advance or Letter of Credit Obligations with respect a Liquidation Sale, all other Revolving Credit Advances made with respect to such Liquidation Sale, and all accrued Fees, interest and other Obligations payable by Borrower with respect thereto.
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Examples of Liquidation Loan in a sentence

  • As of any date of determination, the aggregate of the Liquidation Loan Losses incurred from the Cut-Off Date through the end of the calendar month preceding such date of determination, expressed as a percentage of the sum of the Cut-Off Date Pool Balance and the Original Pre-Funded Amount.

  • This Secured Promissory Note is issued pursuant to the Credit Agreement and is entitled to the benefit and security of the Loan Documents provided for therein, to which reference is hereby made for a statement of all of the terms and conditions under which the Liquidation Loan evidenced hereby is made and to be repaid.

  • As of any date of determination, the aggregate of the Liquidation Loan Losses incurred from the Cut-Off Date through the end of the calendar month preceding such date of determination, expressed as a percentage of the Cut-Off Date Pool Balance.

  • Lender shall be entitled to rely upon, and shall be fully protected in relying upon, any Notice of Revolving Credit Advance, Notice of Letter of Credit Request, Liquidation Loan Proposal or similar notice believed by Lender to be signed by any Authorized Person of a Borrower.

  • Lender shall have sole discretion to decide whether or not to agree to any Liquidation Loan Proposal or to propose an alternative Inventory or Other Assets Advance Rate for the proposed Liquidation Sale.

  • With respect to each Liquidation Sale, the site(s) for such Liquidation Sale and the location of all Retail Inventory relating thereto will be disclosed in the Liquidation Loan Proposal for such Liquidation Sale.

  • As of any date of determination, the aggregate of the Liquidation Loan Losses related to Loan Group II incurred from the Cut-Off Date through the end of the calendar month preceding such date of determination, expressed as a percentage of the related Cut-Off Date Pool Balance.

  • Each Liquidation Loan shall be due and payable in full, as the case may be for such Liquidation Loan, on the earlier of (i) 180 days after the date of the Revolving Credit Advance with respect to such Liquidation Loan, or (ii) twenty one (21) days after the last day of the Sale Term as stated in the applicable Liquidation Sale Agreement.

  • Each Liquidation Loan shall be due and payable in full, as the case may be for such Liquidation Loan, (i) 180 days after the date of the Inventory Advance with respect to such Liquidation Loan, or (ii) on the date of expiration of the Letter of Credit with respect to such Liquidation Loan.

  • Interest shall be payable in arrears on the first Business Day of each month and at the maturity of such Liquidation Loan.