Loan Discharge definition

Loan Discharge or “Discharge” means the release of the Borrower’s obligation to repay all or a designated portion of principal and interest on a student loan.
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Loan Discharge means the lower of: (i) the amount of ZAR8,002,879, together with interest accrued thereon, owed by the Vendor to RPM in relation to the Ga-Phasha Project in accordance with the Bridging Loan Agreement; and (ii) ZAR9,250,000;
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Examples of Loan Discharge in a sentence

  • Upon any Event of Default by any Loan Party following the Loan Discharge Date, each Executive Lender may pursue any and all remedies provided at law or in equity.

  • No Executive Loan may be prepaid in whole or in part prior to the Loan Discharge Date.

  • Until the Loan Discharge Date, no Executive Lender will accelerate the maturity of all or any portion of the Executive Loans or take any other Enforcement Action with respect to the Executive Loans.

  • Following the Loan Discharge Date, all payments by Borrower under this Loan Agreement shall be applied first to any fees and expenses due and payable hereunder, then to the accrued interest due and payable with respect to the Executive Loan hereunder and the remainder, if any, to the outstanding principal of the Executive Loan.

  • Notwithstanding the terms of the Executive Loans, until the Loan Discharge Date, (a) all payments in respect of the Executive Loans are subordinated in right and time of payment to all payments in respect of the Loans, and (b) none of the Executive Lenders will demand or receive from any Loan Party (and no Loan Party will pay) any part of any Executive Loan, whether by payment, prepayment, or otherwise, or accelerate the Executive Loan, except as permitted pursuant to this Loan Agreement.

  • Any Lender holding Warrants shall be entitled to pay some or all of the Exercise Price (as defined in the Warrants) for any of its Warrants by offsetting amounts owed to such Lender (such Lender, an "Exercising Lender") in respect of its interest in the Loan as provided in Section 2.1(b)(ii) of the Warrants (such exercise, a "Loan Discharge Exercise").

  • The Executive Loans will not be secured by the Collateral until the Loan Discharge Date, at which time the Executive Lenders shall be granted a lien that is junior in priority to Antara Capital Master Fund LP, in its role as a “Required Lender” under the Financing Agreement.

  • Loan Discharge Date) hereto shall constitute an event of default under this Agreement instead of the events of default set forth in Section 15.1 (Loan Facility Events of Default) of the Common Terms Agreement.

  • This Agreement shall continue to be effective, and shall not be revocable by any party hereto, until the later of the ABL Discharge Date and the Term Loan Discharge Date; provided the provisions of Section 2.6 hereof shall continue to be effective until all of the obligations to take action on and after the applicable Discharge Date shall be complete.

  • Upon the applicable Discharge Date, the ABL Agent (in the case of the ABL Discharge Date) or the Term Loan Agent (in the case of the Term Loan Discharge Date) shall take such steps, and execute such documents, agreements and instruments, as the DIP Agent representing the next most senior class of Secured Obligations may reasonably request to deliver physical possession or control of the applicable Common Collateral to such DIP Agent.