LOC Loan definition

LOC Loan shall have the meaning set forth in Section 2.23.
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LOC Loan as defined in subsection 4.5(c).
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LOC Loan means a Pooled Loan representing an advance under a Seller LOC offered to the related Obligor, together with the monthly maintenance fees under such Seller LOC, in each case, as modified from time to time pursuant to all Automatic LOC Payment Modifications with respect to such LOC Loan made in accordance with the terms of the applicable Loan Agreement in connection with each Subsequent LOC Advance under such LOC Loan; provided, however, that notwithstanding the foregoing, with respect to any Seller LOC and any advance thereunder, “LOC Loan” shall only include a Seller’s rights, title, interests, remedies, powers and privileges and obligation, if any, to receive payment and/or enforce remedies under such Seller LOC with regard to the fully disbursed portion of such Seller LOC represented by such advance and shall exclude such Seller’s rights, title, interests, remedies, powers and privileges to (i) make future advances under the Seller LOC under which such LOC Loan was originated and (ii) any subsequently disbursed portion of such Seller LOC unless and until transferred pursuant to the Loan Purchase Agreement.
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Examples of LOC Loan in a sentence

  • The LOC Loan shall be payable on demand, shall be a Base Rate Loan, and shall be an Obligation hereunder.

  • Any LOC Loan Segment shall be treated as fully disbursed for purposes of determining the amount that Borrower may borrow under the Loan.

  • SECTION 1.1 Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the LOC Loan Agreement.

  • All such notations shall constitute prima facie evidence of the accuracy of the information so recorded and be enforceable against the Company with the same force and effect as if such amounts were each set forth in a separate DSR LOC Loan Note executed by the Company.

  • All such notations shall constitute prima facie evidence of the accuracy of the information so recorded and be enforceable against the Company with the same force and effect as if such amounts were each set forth in a separate CP LOC Loan Note executed by the Company.

  • In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR LOC Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR LOC Loan for all purposes of this Agreement.

  • In the event that monies in the Debt Service Reserve LOC Loan Principal Sub-Fund exceed the amount of money required by this Depositary Agreement to be deposited therein after giving effect to the payment made on such Principal Payment Date, the Depositary Agent shall transfer such excess monies from the Debt Service Reserve LOC Loan Principal Sub-Fund to the Revenue Fund on such Principal Payment Date.

  • The LOC Loan Agreement is hereby amended to incorporate the changes shown on the marked pages of the LOC Loan Agreement attached hereto as Exhibit A.

  • Each such endorsement shall constitute PRIMA FACIE evidence of the accuracy of the information endorsed, PROVIDED that the failure to make any such endorsement (or any error therein) shall not affect the obligation of the Borrower to repay the LOC Loan (with applicable interest) in accordance with the terms of the Credit Agreement.

  • An event of default shall occur under the LOC Loan Documents which is not cured to the satisfaction of the LOC Lender with the applicable cure period and/or the LOC Loans are accelerated, terminated, or cancelled.


More Definitions of LOC Loan

LOC Loan shall have the meaning given to such term in Section 2.1(f)(ii).
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LOC Loan means a Pooled Loan representing an advance under a Seller LOC offered to the related Obligor, together with the monthly maintenance fees under such Seller LOC, in each case, as modified from time to time pursuant to all Automatic LOC Payment Modifications with respect to such LOC Loan made in accordance with the terms of the applicable Loan Agreement in connection with each Subsequent LOC Advance under such LOC Loan; provided, however, that notwithstanding the foregoing, with respect to any Seller LOC and any advance thereunder, “LOC Loan” shall only include the Seller’s rights, title, interests, remedies, powers and privileges and obligation, if any, to receive payment and/or enforce remedies under such Seller LOC with regard to the fully disbursed portion of such Seller LOC represented by such advance and shall exclude the Seller’s rights, title, interests, remedies, powers and privileges to (i) make future advances under the Seller LOC under which such LOC Loan was originated and (ii) any subsequently disbursed portion of such Seller LOC unless and until transferred pursuant to the Loan Purchase Agreement.
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LOC Loan shall have the meaning given to such term in the Loan Agreement dated as of February 14, 1996 by and between Village Farms of Texas, L.P., as borrower, Farm Credit Bank of Texas and Texas Production Credit Association, as lenders, and CoBank, as Administrative Agent.
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LOC Loan has the meaning set forth in Section 1(a)(iii) of this Agreement.
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LOC Loan means a Pooled Loan representing an advance under an OnDeck LOC offered to the related Obligor, together with the monthly maintenance fees under such OnDeck LOC, in each case, as modified from time to time pursuant to all Automatic LOC Payment Modifications with respect to such LOC Loan made in accordance with the terms of the applicable Loan Agreement in connection with each Subsequent LOC Advance under such LOC Loan; provided, however, that notwithstanding the foregoing, with respect to any OnDeck LOC and any advance thereunder, “LOC Loan” shall only include the Seller’s rights, title, interests, remedies, powers and privileges and obligation, if any, to receive payment and/or enforce remedies under such OnDeck LOC with regard to the fully disbursed portion of such OnDeck LOC represented by such advance and shall exclude the Seller’s rights, title, interests, remedies, powers and privileges to (i) make future advances under the OnDeck LOC under which such LOC Loan was originated and (ii) any subsequently disbursed portion of such OnDeck LOC unless and until transferred pursuant to the Loan Purchase Agreement.
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Related to LOC Loan

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

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

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

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

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

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

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

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

  • 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.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

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

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • 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.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment or a Revolving Loan.

  • Revolving Advances means Advances made other than Letters of Credit.