Operating Loans definition

Operating Loans means loans made by the General Partner to the Partnership pursuant to Article VI of this Agreement, which loans do not bear interest and are repayable only as provided in Article XI of this Agreement.

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Operating Loans is defined in Section 4.5(a).

Operating Loans means one or more loans by Manager or an Affiliate of Manager required to be made pursuant to this Agreement, on terms and conditions reasonably acceptable to the Manager and City and with an interest rate not to exceed the “prime rate” as shown from time to time in the Wall Street Journal, plus one percent (1%), the proceeds of which are used to pay Operating Expenses.

Examples of Operating Loans in a sentence

• Second, to the Partners in repayment of all outstanding Operating Loans, including unpaid interest accrued thereon, made by the Partners to the Partnership, if any, pursuant to Section 4.5, with such payments made pro rata based on the amounts due to the respective Partners on such outstanding Operating Loans.

• Partners making Operating Loans to the Partnership will execute and deliver any documents and agreements evidencing such subordination to the extent required by any third-party Lender to the Partnership.

• In the event of a Capital Commitment Shortfall, the non-defaulting Partners will not be required to comply with the notice, timelines, and other procedures under Section 4.3(c) for Additional Capital Contributions (e.g., requests for additional funds from Lender, etc.) or under Section 4.5 for Operating Loans, in each case, to the extent of such Capital Commitment Shortfall, but may immediately fund the Capital Commitment Shortfall.

• Unless otherwise agreed by the Partners providing Operating Loans, the percentages of each Operating Loan will be in proportion to the relative Capital Interests of the Partners participating in such Operating Loan.

More Definitions of Operating Loans

Operating Loans means loans made by the Guarantor to the Partnership pursuant to the Operating Deficit Guaranty Agreement to fund Operating Deficits occurring during the Guaranty Period, which loans do not bear interest and are repayable only as provided in Article IX hereof.

Operating Loans means an unsecured loan made by the Manager, an Affiliate of the Manager or a third party lending institution, the proceeds of which are used to pay Operating Expenses or interest or principal due under another Operating Loan; provided that any such loan made by Manager or its Affiliates shall not bear interest at an annual rate in excess of Prime plus one percent (1%).

Operating Loans means the Operating Loan (Lender) and the Operating Loan (C/CAG).

Operating Loans shall have the meaning set forth in Section 6.13.

Operating Loans means any loans advanced by either Shelter or Participation to the Partnership to meet working capital requirements for the purpose of making cash expenditures as and when due. The funds contributed to the Partnership to provide initial working capital as set forth in the Development Budget shall not be considered an Operating Loan.

Operating Loans means loans made by the general partner of the Borrower to the project, for the purpose of covering any operating deficits, and to be repaid through distributions of Net Operating Income.

Operating Loans o Canadian Dollar: Prime rate + 1.6% payable monthly o Banker's acceptances: Ba's + 300 basis points. o US dollar: US Prime Rate + 1.5% payable monthly. o Libor loans: Libor plus 300 basis points.