Merchant Loan definition

Merchant Loan a business credit card line of credit available to Borrower Group in the principal amount of $350,000.00, as described and governed by Lender’s Standard Business Credit Card Terms, which are incorporated herein by this reference.
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Examples of Merchant Loan in a sentence

  • The Merchant Loan debt facility agreement is unsecured, which has an interest rate of 10% per annum with repayment due 2 September 2021.

  • Any religious body, Indian Nation or Tribe or Native Group or officiant thereof is free to choose whether or not to solemnize and whether or not to officiate civil unions.

  • The RLC Loan, Term Loan, and Merchant Loan will be sometimes collectively referred to below as the “Loans”.

  • You shall make all payments due from you to DTB using our M-Pesa Till Number or any other avenue availed by DTB for loan repayments as will be availed on the DTB Merchant Loan Product menus.

  • In addition to securing the liabilities, obligations and responsibilities of the Borrower Group described therein, the Instruments of Security are hereby modified and amended so that they shall hereafter also secure the full payment and performance by the Borrower Group of all their respective liabilities, obligations, and responsibilities under the 2013 RLC Note, 2013 Term Note, and New Merchant Loan Documents.

  • The Merchant Loan debt facility agreement is unsecured, which has an interest rate of 10% per annum with repayment due 2 September 2020.Subsequent to year end the facility was extended to 2 September 2021.

  • Merchant Loan Sales BROKER has the authority to contract with referral sources to receive a referral fee up to 1%.

  • On or about the date hereof, the Borrower Group has requested that Lender: (i) reduce the face amount of the RLC Note from $1,500,000.00 to $750,000.00; (ii) increase the face amount of the Term Note from $3,500,000.00 to $5,785,457.50; (iii) increase the amount of the Merchant Loan to $350,000.00; and (iv) modify numerous terms and provisions of the Initial Loan Documents (collectively the “Modified Initial Loan Documents”).

  • Starting with Schedule H of the Original Schedules, the evidence clearly established that, as of the Petition Date, Pinnacle was liable for amounts owed on the Individual Loans, Merchant Loans, and the Pavillion line of credit and that the Debtors (or only Lindeman in certain cases) were also liable for such debts by virtue of the Individual Loan Guarantees, the Merchant Loan Guarantees, and the Pavillion Line Guaranty.

  • The Merchant Loan Documents are hereby modified so that they evidence and secure a credit card merchant loan from Lender to Borrower Group in the amount of $350,000.00 (the “New Merchant Loan Documents”).

Related to Merchant Loan

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • 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.

  • student loan means a loan towards a student’s maintenance pursuant to any regulations made under section 22 of the Teaching and Higher Education Act 1998, section 73 of the Education (Scotland) Act 1980 or Article 3 of the Education (Student Support) (Northern Ireland) Order 1998 and includes, in Scotland, a young student’s bursary paid under regulation 4(1)(c) of the Students’ Allowances (Scotland) Regulations 2007.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • Home Equity Loan means a loan or funded or unfunded portions of a line of credit secured by a mortgage on a one-to four-family residences or stock of cooperative housing association, where the Failed Bank did not have a first lien on the same property as collateral.

  • Direct Loan means any loan made by Canada under section 6.1 of the CSFAA on or after August 1, 2000.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Commercial loan means a loan that is not made primarily for

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • FHA Loan means a Mortgage Loan which is the subject of an FHA Mortgage Insurance Contract.

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

  • Discount Loan The Loans having Pass-Through Rates of less than 6.75%.

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • Daily SOFR Loan means a Loan that bears interest at a rate based on Daily SOFR.

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

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

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Prime Loan means any Loan when and to the extent that the interest rate therefor is determined by reference to the Prime Rate.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Credit Card Advance Rate means 90%.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.