Mandatory Loan definition

Mandatory Loan. As defined in Section 2.4(b)(iii)(B).
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Mandatory Loan has the meaning ascribed thereto in Section 6.2.
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Mandatory Loan. As defined in Section 3.2.
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Examples of Mandatory Loan in a sentence

  • The Mandatory Loan shall be secured by a first lien priority security interest in all of the BII Stock and shall bear no interest.

  • Upon the Registration Effective Date, LegatumX shall repay the Mandatory Loan if and in such amount as the Mandatory Loan shall remain outstanding and unpaid, and the provisions of Section 2.c. above automatically shall apply with respect to the sale of BII Stock by LegatumX or an affiliate.

  • The Mandatory Loan shall become immediately due and payable upon the earlier to occur of (i) the date the Registration Statement is declared effective by the SEC (the “Registration Effective Date”) or (ii) the sale or issuance by LegatumX of New Securities (as defined in Section 8 below) for cash in a single transaction or series of transaction resulting in gross proceeds equal to or in excess of Five Million (USD $5,000,000) Dollars (a “Qualified Capital Raise”).

  • In the event that a Qualified Capital Raise shall precede and occur prior to the Registration Effective Date, LegatumX repay the full amount of the Mandatory Loan from the proceeds of the Qualified Capital Raise.

  • For purposes of this Agreement, the term "Net Cost" shall mean the actual cost to the Reserve Plant of supplying the JV Requirements, including a proportionate charge for depreciation and amortization and a proportionate charge for return on invested capital at a rate per annum equal to the Mandatory Loan Rate, but excluding any cost of debt.

  • In the event that the Net Collected Balance in the account is negative on any day, the Lender shall fund the overdraft or draws against unavailable funds up to the maximum amount of the Borrowing Base of the Line of Credit, subject to the Mandatory Loan Repayments paragraph, above.

  • In addition to the provisions of the Mandatory Loan Repayments paragraph, above, on EACH and EVERY day that the aggregate principal amount of the outstanding Advances exceeds the applicable Borrowing Base, Borrower shall pay a fee equal to 2% of the amount by which the aggregate principal amount of the outstanding Advances exceeds the applicable Borrowing Base.

  • On the date of this Agreement, and WEEKLY during the term of the Line of Credit, the Borrower shall submit to Lender a Borrowing Certificate in the form of EXHIBIT I attached hereto showing the computation of the Line of Credit Borrowing Base as of the close of business on the last day of the immediately preceding WEEK and will accompany such certificate with such payment, if any, as may be necessary to comply with the provisions of the Mandatory Loan Repayments paragraph.

  • The Company will provide each Lender at least ten days notice of the date of the Closing of a Mandatory Loan (which date shall be binding on all parties), and the amount of Lender’s funding Commitment (based on the Lender’s commitment percentage set forth on Schedule 1.3, Schedule 1.3A and Schedule 1.3B).

  • To the extent the Company receives Mandatory Loan proceeds pursuant to Section 5.11A, such proceeds shall, promptly after receipt be distributed 100% to the Investor Member.


More Definitions of Mandatory Loan

Mandatory Loan means loans made to the Company by or on behalf of the Administrative Member pursuant to Sections 5.11A(i) and 5.11A(ii), or MLCS ISDA Master Agreement payments which MLCS elects at its sole option to lend to the Company as Mandatory Loans, the proceeds of which shall be specially distributed to the Investor Member pursuant to Section 9.4.
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Mandatory Loan has the meaning set forth in Paragraph 2.6(B) hereof.
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Related to Mandatory Loan

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

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

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Swingline Loan means a Loan made pursuant to Section 2.04.

  • Revolving Loan Maturity Date means January 1, 2011, unless extended by Lender pursuant to any modification, extension or renewal note executed by the Borrower and accepted by Lender in its sole and absolute discretion in substitution for the Revolving Note.

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

  • Refinancing Loan shall have the meaning provided in Section 2.14(h)(i).

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • 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.

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Refinancing Loans means any Refinancing Term Loans or Refinancing Revolving Loans.

  • Mandatory Borrowing shall have the meaning provided in Section 2.1(d).

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

  • Term Loan as defined in Section 2.1.

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement;

  • Swingline Maturity Date means, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity Date.

  • Existing Revolving Loans has the meaning specified in Section 2.7(a).

  • Swing Loan Maturity Date means, with respect to any Swing Loan, the earlier of (i) the last day of the period for such Swing Loan as established by the Swing Line Lender and agreed to by the Borrower, which shall be less than 15 days, and (ii) the Revolving Facility Termination Date.

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Refinance Loan Any Mortgage Loan the proceeds of which are used to refinance an Original Mortgage Loan.

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

  • Revolving Facility Loans shall include the Other Revolving Loans.