Net Loan Balance means, with respect to any Eligible Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve.
Net Loan Balance. With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve.
Net Loan Balance means, as of the date it is to be determined, the difference of (a) the Aggregate Outstanding Loan Balance as of such date less (b) the Excess Concentration Amount as of such date.
Examples of Net Loan Balance in a sentence
Within sixty (60) days of the effective date of this Order, the Board shall obtain current and satisfactory credit information on all loans lacking such information, including those listed in the ROE, in any subsequent Report of Examination, in any internal or external loan review, or in any listings of loans lacking such information provided to management by the National Bank Examiners at the conclusion of an examination.
Overconcentration Loan: With respect to any Dealer, the amount by which the aggregate Net Loan Balance of Dealer Loans made to such Dealer, calculated on a Funding Date as of the end of the immediately preceding Collection Period, exceeds the Dealer Concentration Limit.Payment Date: The nineteenth (19th) day of each calendar month or, if such day is not a Business Day, the next succeeding Business Day.
Net Advance Rate: 69% Net Loan Balance: With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve.
Overconcentration Loan: With respect to any Dealer, the amount by which the aggregate Net Loan Balance related to such Dealer, calculated on the Funding Date, exceeds the Dealer Concentration Limit described in clause (i) thereof.
Net Loan Balance: With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve.
More Definitions of Net Loan Balance
Net Loan Balance. With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve. Nonconforming Contract: Defined in Section 6.2(c)(ii).
Net Loan Balance. Before January 1, 2020 (and on January 1, 2020 and thereafter if the Company has not adopted the CECL Methodology) with respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve. Beginning on January 1, 2020, so long as the Company has adopted the CECL Methodology, with respect to any Loan, the Outstanding Balance.
Net Loan Balance means, as of the date it is to be determined, the difference of (a) the Aggregate Outstanding Loan Balance as of such date less (b) the Excess Concentration Amount as of such date. “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all affected Lenders in accordance with the terms of Section 12.1 and (b) has been approved by the Required Lenders. “Non-Defaulting Lender” shall mean, at any time, a Lender that is not a Defaulting Lender or a Potential Defaulting Lender. “Non-Renewing Lender” is defined in Section 2.1(b). “Obligations” means all loans, advances, debts, liabilities and obligations, for monetary amounts owing by the Borrower to the Lenders, the Bank Parties, the Administrative Agent, the Managing Agents or any of their permitted assigns, as the case may be, whether due or to become due, matured or unmatured, liquidated or unliquidated, contingent or non-contingent, and all covenants and duties regarding such amounts, of any kind or nature, present or future, arising under or in respect of any of this Agreement, any other Transaction Document or any Fee Letter delivered in connection with the transactions contemplated by this Agreement, whether or not evidenced by any separate note, agreement or other instrument. This term includes, without limitation, all principal, interest (including interest that accrues after the commencement against the Borrower of any action under the Bankruptcy Code), Commitment Fees, Unused Fees, and other fees, including, without limitation, any and all arrangement fees, loan fees, facility fees, and any and all other fees, expenses, costs or other sums (including attorney costs) chargeable to the Borrower under any of the Transaction Documents. “Obligor” means, with respect to any Loan, the Person or Persons obligated to make payments pursuant to such Loan, including any guarantor thereof. For purposes of calculating the Advance Rate, Excess Concentration Amount and LTV, all Loans included in the Collateral or to become part of the Collateral the Obligor of which is an Affiliate of another Obligor shall be aggregated with all Loans of such other Obligor. “OFAC” means the U.S. Office of Foreign Asset Controls. “Officer’s Certificate” means a certificate signed by a Responsible Officer of the
Net Loan Balance means an amount equal to (a) the outstanding principal and interest on the Loan, as defined below, as of 11:59 pm on the day prior to the Closing Date, less (b) the aggregate amount of all escrows (including any tax and insurance (including MIP) escrows) and reserves (including replacement, operating and working capital reserves, which operating deficit reserve is in the amount of $900,000 as of the Effective Date and is anticipated to be in the same amount as of the Closing Date) maintained by Property Owner pursuant to the terms and conditions of the Loan Documents, as defined below, as of 11:59 pm on the day prior to the Closing Date; the term “Loan” means that certain loan from Red Mortgage Capital, LLC (“Lender”) to Property Owner in the original principal amount of $31,800,400.00 (with the final loan amount subject to final cost certification by HUD); and the term “Loan Documents” means those certain documents identified on Schedule 7 attached hereto, which evidence, secure or otherwise relate to the Loan. Buyer acknowledges that the outstanding principal balance on the Loan as of the day prior to the Closing Date is anticipated to be approximately $29,310,000 and understands that the final outstanding principal balance will not be determinable until after the final endorsement is issued by HUD, as defined below. The parties understand and agree that, pursuant to the Loan Documents, the approval of Lender and the U.S. Department of Housing and Urban Development (“HUD”) (which insures the Loan pursuant to Section 221(d)(4)) will be required for the transfer of the Membership Interests contemplated herein to Buyer (the “Loan Assumption”), as set forth in Section 4.2.8 below. In connection with the Loan Assumption, Buyer and Seller hereby agree as follows:
Net Loan Balance shall have the meaning assigned to such term in the Indenture.
Net Loan Balance means the amount, if any, by which (i) the principal and interest balance outstanding under the Loan Agreement as of the Closing Date, exceeds (ii) the sum of (A) $1,000,000, (B) the amount of the Third Party Expenses paid as of the Closing Date (other than the Permitted Legal Fees), and (C) the aggregate purchase price paid by the Company for the shares of capital stock of the Company repurchased from stockholders as described in Section 4.11(a) of this Agreement.
Net Loan Balance. With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve. Net Yield Percentage: For any Collection Period, the ratio, expressed as a percentage, the numerator of which is equal to the product of (i) 12 and (ii) the excess of (A) the product of (I) Collections (for the respective Collection Period) and (II) 20% over the (B) the sum of amounts distributed under Section 2.7(a)(i) through (v) and the denominator of which is equal to the Capital as of the first day of such Collection Period. Nonconforming Contract: Defined in Section 6.2(c)(ii). Nonconforming Contract Payment Amount: With respect to a Nonconforming Contract, an amount equal to the sum of (i): (x) the product of the Outstanding Balance of such Contract as of the last day of the related Collection Period and a fraction, the numerator of which is Capital as of the Funding Date and the denominator of which is the Outstanding Balance of Eligible Contracts as of the Funding Date; (ii) accrued and unpaid Carrying Costs, Increased Costs, Indemnified Amounts and Additional Amounts related to such Contract through the date of such deposit; (iii) any related Servicer Advances; and (iv) and all Hedge Costs due to the relevant Hedge Counterparties for any termination in whole or in part of one or more transactions related to the relevant Hedging Agreement, as required by the terms of any Hedging Agreement. Nonextending Investor: Defined in Section 2.1(b)(ii).