Option Loan definition

Option Loan has the meaning set forth in Section 4.2(a) hereof.

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Option Loan means a twelve (12) month secured loan of Four Million Dollars ($4,000,000), the terms of which are set forth in the Promissory Note and Security Agreement concurrently entered into herewith.

Option Loan means a loan provided by Acquisitionco to CEF Optionholders in the amount required to fully exercise the CEF Options held by such CEF Optionholder;

Examples of Option Loan in a sentence

Each Borrower shall repay to each Bank which has made a Bilateral Option Loan on the maturity date of each Bilateral Option Loan (such maturity date being that specified in the documentation referred to in subsection 3.1(a)) the then unpaid principal amount of such Bilateral Option Loan.
Interest on each Base Rate Option Loan shall be computed on the basis of a year of 365/366 days for the actual number of days elapsed and shall be payable at the Base Rate Basis for such Base Rate Option Loan, in arrears on the applicable Payment Date for the period through the date immediately preceding such Payment Date.
Subject to Section 2.6(b), the principal amount of any Base Rate Option Loan may be prepaid in full or in part at any time, without penalty or premium and without regard to the Payment Date for such Loan, upon not less than one (1) Business Day’s prior written notice to the Administrative Agent of such prepayment.
At any time during the Put Period, upon five (5) calendar days’ notice to Seller, Purchaser shall have the option of irrevocably converting any Put Option Loan into a Transferred Loan.
Concurrently with repaying each affected Eurodollar Option Loan of such Lender, notwithstanding anything contained in Article 2 or Article 3 hereof, EnergySolutions may borrow a Base Rate Option Loan from such Lender, and such Lender shall make such Base Rate Option Loan, if so requested, in an amount such that the outstanding principal amount held by such Lender shall equal the outstanding principal amount immediately prior to such repayment.
To the extent a Put Option Loan is either repurchased by Seller or converted to a Transferred Loan during a calendar quarter, Purchaser shall pay Put Option Interest on such repurchased or converted Put Option Loan for the quarter in which such repurchase or conversion is effective based on a Put Option Loan balance of zero only as of the end of the quarter for which payment of Put Option Interest is due.
The Pledgor agrees that, notwithstanding any provision of the Master Agreement (or any other provision or agreement) to the contrary, so long as any Option Loan Obligations are outstanding, it shall not exercise any of the Pledgor Contract Rights (other than on the Expiration Date of the relevant Options) or transfer or assign any of the Pledgor Contract Rights, except with the prior written consent of the Lender.
The payment by the Revolving Issuing Bank of a draft drawn under any Revolving Letter of Credit shall constitute for all purposes of this Agreement the making by the Revolving Issuing Bank of a Letter of Credit Loan, which shall be a Base Rate Option Loan, in the Dollar Equivalent of the amount of such draft.
Seller shall complete the purchase of the Put Option Loan within thirty (30) Business Days of receipt of Purchaser’s written notice of exercise.
Purchaser shall exercise the Put Option by written notice to Seller, detailing the terms of the Put Option Loan.

More Definitions of Option Loan

Option Loan means a loan made by the Company or a Subsidiary to an Employee under Rule 3 for the purpose of acquiring an Option.

Option Loan has the meaning attributed to such term in Section 2.4(2).

Option Loan means any indebtedness for borrowed money extended by Borrower to any single purpose entity that owns one or more industrial properties provided Borrower has the right, exercisable at any time during the term of the loan, to cause any property owned by such entity to be put or sold, directly or indirectly, in whole or in part, to Borrower for the same price as was paid by the single purpose entity when it acquired the property, and Borrower has management control of any assets put or sold, directly or indirectly, in whole or in part, to Borrower. The owner of the single purpose entity must be rated at least BBB by S&P’s and at least Baa2 by Moody’s and be reasonably acceptable to the Required Lenders. ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, Incorporated is hereby approved as an acceptable owner of such single purpose entities so long as it continues to maintain ratings of at least BBB by S&P’s and Baa2 by Moody’s. In no event shall the single purpose entity have Indebtedness other than the Option Loan nor shall the property owned by such entity be subject to any Lien securing any Indebtedness other than the Option Loan.