Local Loan definition

Local Loan and “Local Loans”: as defined in Section 2.4(b); provided, however, that the term “Local Loans” shall, to the extent utilized directly or indirectly in the Security Documents, be deemed to include any Acceptances outstanding under this Agreement.

Local Loan and “Local Loans”: as defined in Section 2.4(b); provided, however, that the term “Local Loans” shall, to the extent utilized directly or indirectly in the Security Documents, be deemed to include any Acceptances outstanding under this Agreement. On and after the Amendment No. 8 Effective Date, there are no Local Loans outstanding.

Local Loan means any loan raised by the Government from outside Tanzania;

Examples of Local Loan in a sentence

• Any change in the interest rate on a Local Loan which is an Alternate Base Rate Loan resulting from a change in the Alternate Base Rate shall become effective as of the opening of business in the jurisdiction of the local lending office of the relevant Local Fronting Lender on the day on which such change shall become effective.

• Notwithstanding anything to the contrary contained in this Section 6.3, no Local Fronting Lender shall be obligated hereunder to advance any Local Loan by way of an overdraft, but rather shall provide overdrafts only if it elects (in its sole discretion) to do so.

• Promptly following the making of each such Local Loan, such Local Fronting Lender shall provide notice to the Administrative Agent of the amount thereof.

• In respect of any Disbursement to a particular Onshore Borrower, all of the conditions of disbursement described in the relevant Local Loan Agreement for that Onshore Borrower shall have been satisfied.

• Each Local Loan Agreement shall continue in force until all monies payable under it have been fully paid in accordance with its provisions.

• No Permitted Indebtedness grants any Lien on any assets of any Local Loan Party or any greater priority than Lender has with respect to the Loan with respect to any payment obligations of any Loan Party.

• Each Local Loan Party shall permit Lender and its agents, during regular business hours upon reasonable notice (provided no notice shall be required when an Event of Default has occurred and is continuing), to inspect and copy all of such books and records no more than two times per year (except if an Event of Default has occurred and is continuing).

• Except with respect to the Permitted Reorganization, no Local Loan Party shall merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or otherwise dispose of all or any substantial part of its assets, or all or substantially all of the Equity Interests of any of its subsidiaries (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, without the prior written consent of Lender.

• One or more judgments, orders, or decrees for the payment of money in an amount, individually or in the aggregate, of at least (i) One Hundred Thousand and 00/100 Dollars ($100,000.00) with respect to any Local Loan Party and (ii) One Million Dollars ($1,000,000.00) with respect to any Parent, shall be rendered against any Loan Party and shall remain unsatisfied, unvacated, or unstayed for a period of twenty (20) days after the entry thereof.

• Promptly following the making of each such Local Loan, such Local Fronting Lender shall provide notice to the Multi-Currency Administrative Agent of the amount thereof.

More Definitions of Local Loan

Local Loan. ' means any loan raised by the Government from within Tanganyika;

Local Loan means a Loan made pursuant to Section 2.03.

Local Loan means any loan contracted by

Local Loan means any loan contracted by the Government from resident sources.”

Local Loan means any loan raised by the Government from within Tanzania; "Minister" means the Minister responsible for finance;

Local Loan shall have the meaning from time to time assigned to such term in the Existing Credit Agreement;