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.

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.

Operating Loans is defined in Section 4.5(a).

Examples of Operating Loans in a sentence

• For the balance of the Operating Deficit Guarantee Period the General Partner will immediately provide Operating Loans to pay any Operating Deficits.

• The aggregate maximum amount of the Operating Loan(s) the General Partner will be obligated to lend will be equal to one year's operating expenses (including debt and reserves) approved by the General Partner and the Special Limited Partner.

• For the balance of the Operating Deficit Guarantee Period the General Partner will provide Operating Loans to pay any Operating Deficits.

• The proceeds of any Operating Loans shall be used solely for the purpose of providing for costs and expenses of the Borrower.

• For the purpose of this exhibit, ‘‘Farmer Program loans’’ means Farm Operating Loans, Farm Ownership Loans, Emergency Loans, and Soil and Water Loans.

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

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 the Operating Loan (Lender) and the Operating Loan (C/CAG). “Operating Loan (C/CAG)” means the loan to the Borrower from C/CAG under the‌

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 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 shall have the meaning set forth in Section 6.13.