Officer Loans definition

Officer Loans has the meaning set forth in ss.2(b) below.
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Officer Loans means those certain loans made by Ultimate Holdco to each of Xxxxxx X. Xxxxxxxx, Xx., Xxxxx X. Xxxx and H. Xxxxxx Xxxxxx (collectively, the “Officers”) in the aggregate amount of $76,982.79, in return for those certain Stockholder Notes dated November 1, 2002, executed by the Officers in favor of Ultimate Holdco, as required by Section 2.1(c) of the Contribution Agreement.
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Officer Loans means any loan set forth on Schedule 8.1(c).
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Examples of Officer Loans in a sentence

  • For further information concerning the forgiven indebtedness and the circumstances under which such indebtedness was forgiven, please see "Executive Officer Loans" below.

  • Xxxxx Vice Chairman & Chief Financial Officer Loans : $6,000,000 Term A Loan, $3,060,175.88 Term B Loan (the “Loans”) and $914,000 Letter of Credit Facility under the Credit Agreement dated as of December 28, 2000, as amended (the “Credit Agreement”), among Team America, Inc.

  • At Closing, the cash balance of the Purchase Price to be paid at the Closing shall be reduced by the sum of (i) the amount of the Company's loans to its officers as set forth in ss.2(b)(ii)(1) of the Disclosure Schedule (collectively, the "Officer Loans"), and (ii) the amount of any outstanding Seller Receivables as referred to in ss.5(j)(i).

  • These affected the objectives of loans to the SMEs owners. Willingness of People to Act as Guarantors: The willingness and commitment of the referees, was the big limitation towards the availability of loans to the borrowers. Loans and Business Evaluation by Loan’s Officer: Loans were normally determined by the level of information submitted by the loan officer concerning the business of the borrowers and the loan evaluation.

  • It is the view of the Directors that the exceptions set out in ASX Listing Rule 7.2 do not apply in the current circumstances.In the event Resolutions 5 – 8 (inclusive) are approved, any Shares issued upon exercise of the Conversion Mechanism in the Former Officer Loans would then fall under Exception 4 to listing rule 7.2 and not require further shareholder approval under Listing Rule 7.1.

  • These loans are summarized in the following table, and are further described under "Certain Relationships and Related Transactions - Officer Loans," below.

  • Except for the Officer Loans, any loans (other than travel advances, payroll advances and other advances made in the ordinary course of business, which in each case do not exceed $1,000) by the Company or any of the Subsidiaries to any of their Employees shall have been repaid and no such loans shall be outstanding.

  • Approval Limits: Credit Officer: Loans up to $300,000 above shares, deposits and savings.

  • Employee and Officer Loans and Advances Included in "Other current assets" are loans and advances to employees and officers of the Company of $1.2 million, and $1.5 million as of November 30, 2006, and 2005, respectively.

  • The maximum amount outstanding from Mr. Jacob Stolt-Nielsen during the year was $0.2 million and $0.6 million for 2007 and 2006, respectively.Employee and Officer Loans and AdvancesIncluded in “Other current assets” are loans and advances to employees and officers of the Company of $1.2 million as of November 30, 2007 and 2006.


More Definitions of Officer Loans

Officer Loans means all subordinated Indebtedness and accrued interest owed to Xxxxxx X. Xxxxx and Xxxxxx X. Xxxxxxxx under the Plan of Reorganization as described in the Offering Circular.
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Related to Officer Loans

  • Closing Date Term Loans means the Term Loans made by the Term Lenders on the Closing Date to the Borrower pursuant to Section 2.01(1).

  • Bank Loans means debt obligations (including, without limitation, term loans, notes, revolving loans, debtor-in-possession financings, the funded and unfunded portion of revolving credit lines and letter of credit facilities and other similar loans and investments including interim loans, bridge loans and senior subordinated loans) which are generally documented under a loan or credit facility or pursuant to any loan agreement, note purchase agreement or other similar financing arrangement facility, whether or not syndicated.

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

  • Working Capital Loans means any loan made to Acquiror by any of the Sponsor, an Affiliate of the Sponsor, or any of Acquiror’s officers or directors, and evidenced by a promissory note, for the purpose of financing costs incurred in connection with a Business Combination.

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • New Term Loans as defined in Section 2.24.

  • Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

  • Senior Loans means the loans and other extensions of credit made by the Senior Lenders to Borrower pursuant to the Senior Credit Agreement.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • Closing Date Term Loan has the meaning set forth in Section 2.4(a).

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category. “Eligible Purchases” These are from purchases of goods and services you make with your account (a) at certain merchants or of specified types listed in the Schedule; and (b) in which a single or multiple items are purchased in the same transaction totaling certain amounts as listed in the Schedule. Each Eligible Purchase may be kept track of separately on your statement and may be treated as its own Balance Category. Eligible Purchase(s) may also be referenced and abbreviated as “Elig Purch” in some locations in the Schedule.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Group I Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group I Loans.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Closing Date Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Closing Date Term Loan Commitment. The aggregate amount of the Closing Date Term Loan Commitments as of the Closing Date is $820,000,000.

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time (after converting the outstanding principal amount of any Loans denominated in the Optional Currency into the Dollar Equivalent thereof at such time).

  • Original Loans means the loans and other extensions of credit outstanding under the Original Credit Agreement as of the Effective Date.

  • Additional Loans means any Additional Revolving Loans and any Additional Term Loans.

  • Existing Loans has the meaning specified in Section 2.19(a).

  • Revolving Loans as defined in Section 2.4(a).

  • Tranche B Term Loans means the Loans made by Lenders to Company pursuant to subsection 2.1A(ii).