Loan Debtor definition

Loan Debtor and “Loan Debtors” means an obligor or guarantor, including a third party pledgor, with respect to the Loan Documents relating to a Loan.
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Loan Debtor and "Loan Debtors" means an obligor or guarantor, including a third party pledgor, with respect to the Loan Documents relating to a Loan.
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Loan Debtor means an obligor or guarantor, including a third party pledgor, with respect to the loan documents relating to the Auto Receivable.
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Examples of Loan Debtor in a sentence

  • In consideration of the making of a loan by Secured Party to Debtor for the purpose of financing the Equipment specified above (the "Loan"), Debtor promises and agrees to pay to the order of Secured Party, at Secured Party's address stated above or at such other places as Secured Party may from time to time designate in writing, the principal amount of the Loan, together with interest calculated as hereinafter provided.

  • Based on such authentication and verification, Borrower represents and warrants to the best of its knowledge that (i) each Loan Debtor had full legal capacity to execute and deliver all loan documents evidencing the Eligible Loan made to such Loan Debtor and (ii) each loan document evidencing each Eligible Loan is the legal, valid and binding obligation of the applicable Loan Debtor and is enforceable in accordance with its terms.

  • Prior to an Event of Default, Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan.

  • As security for the Loan, Debtor agrees to pledge its interest in the Collateral pursuant to the Security Agreement.

  • On the Closing Date and on the date of each Loan, Debtor will be and after giving effect to the requested Loan, will be, solvent.

  • Borrower has made commercially reasonable efforts to authenticate the identity of each Loan Debtor and to verify information provided by the Loan Debtor in connection with each Eligible Loan.

  • The Mortgage obligates the Loan Debtor thereunder to maintain the hazard insurance policy at the Loan Debtor’s cost and expense and, on the Loan Debtor’s failure to do so, authorizes the holder of the Mortgage to obtain and maintain such insurance at such Loan Debtor’s cost and expense, and to seek reimbursement therefor from the Loan Debtor.

  • If SBA purchases the Guaranteed Interest in any SBA Lender Loan, any recoveries from the SBA Lender Loan Debtor or the collateral securing the SBA Lender Loan will be distributed pro rata to SBA as holder of the Guaranteed Interest and to the Trustee as holder of the Unguaranteed Interest.

  • If SBA purchases the Guaranteed Interest in any SBA Lender Loan, any recoveries from the SBA Lender Loan Debtor or the collateral underlying the SBA Lender Loan will be distributed pro rata to SBA as holder of the Guaranteed Interest and to Trustee as holder of the Unguaranteed Interest.

  • Unless the Trustee becomes the Servicer, the Trustee will not take (i) any action regarding the servicing of any SBA Lender Loan or (ii) any action with respect to any SBA Lender Loan Debtor or any collateral securing any SBA Lender Loan.


More Definitions of Loan Debtor

Loan Debtor shall have the meaning as set forth in Section 4.26(h).
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Loan Debtor means the client of the Seller under a Loan Agreement;
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Loan Debtor and "Loan Debtors" mean mortgagors, trustors of trust deeds and deeds of trust, and the grantors or any security deeds relating to adjustable loans.
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Related to Loan Debtor

  • ABL Loan Documents means the “Loan Documents” as defined in the ABL Credit Agreement.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.