Option Loans definition

Option Loans has the meaning set forth in the first recital hereof.

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Option Loans. Absolute Rate Dollar, Eurodollar Bid-Option Absolute Rate Dollar or Foreign Rate or Bid-Option Currency (also specify Principal Eurodollar Rate Interest the foreign currency)(2) Amount(3) Margin(4) Period(5) ----------------------- --------- ------------------- -----------

Option Loans means an approximately $2 million loan facility, $291,418.82 of which is currently outstanding, established by the Issuer, then a subsidiary of Fission Energy Corp., and provided to substantially all of the directors, officers and employees of Fission Energy Corp. to enable them to exercise their previously held stock options of Fission Energy Corp. prior to the completion of the ▇▇▇▇▇▇▇ Arrangement so that all proceeds from such exercise could be transferred by Fission Energy Corp. to the Issuer in accordance with the terms of the ▇▇▇▇▇▇▇ Arrangement.

Examples of Option Loans in a sentence

• Interest in respect of the Libor Rate Option Loans, and any fees payable hereunder, shall be calculated on the basis of a 360 day year for the actual days elapsed.

• Each borrowing under the Commitments shall be in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, in the case of ABR Loans, if the amount of the Available Commitments minus the Aggregate Outstanding Bilateral Option Loans is less than $5,000,000, such lesser amount).

• At no time may the number of outstanding Eurodollar Option Loans exceed eight (8).

• Interest in respect of the Prime Rate Option Loans shall be calculated on the basis of a 360 day year for the actual days elapsed.

• Subject to Section 2.6(b) and Section 2.11, Eurodollar Option Loans may be prepaid prior to the due date thereof, upon not less than three (3) Business Days’ prior written notice to the Administrative Agent.

• Concurrently with prepaying such Eurodollar Option Loans, notwithstanding anything contained in Article 2 or Article 3 hereof, EnergySolutions may borrow a Base Rate Option Loan from such Lender Party, and such Lender Party shall, if so requested, make such Base Rate Option Loan in an amount such that the outstanding principal amount held by such Lender Party shall equal the outstanding principal amount immediately prior to such prepayment.

• If any Lender Party demands compensation under this Section 10.3, EnergySolutions may at any time, upon at least five (5) Business Days’ prior notice to such Lender Party, prepay in full the then outstanding affected Eurodollar Option Loans of such Lender Party, together with accrued interest thereon to the date of prepayment, along with any reimbursement required under Section 2.11 hereof.

• Interest in respect of the Prime Rate Option Loans shall ------------ be calculated on the basis of a 360 day year for the actual days elapsed.

• No Borrower shall have any right to prepay Competitive Bid Option Loans.

• In addition, any outstanding balances (principal and interest) of the Residence Loan, the 1997 Option Loans and any other loans made by ICH and any of the other Companies to Executive shall be forgiven on the consummation of such Change in Control.

More Definitions of Option Loans

Option Loans the loans made to Company employees prior to the date hereof, and the loans to be made to Company employees pursuant to Section 6.5, in connection with the exercise by such employees of Company Options.

Option Loans means Loans (other than Incremental Loans) made on the Conversion Date, the proceeds of which are utilized to fund the exercise of options to purchase Common Stock.

Option Loans means the aggregate outstanding principal amount and accrued interest, if any, as of the Closing Date under the loans listed on Schedule 4.2(c) of the Disclosure Letter.

Option Loans means the non-interest bearing loans made by the Purchaser to Non-Exercising Optionholders in connection with the exercise of the Company Options by such Non-Exercising Optionholders pursuant to Section 3.3 of this Plan of Arrangement, in an amount equal to the aggregate exercise price in respect of such Company Options as of the Effective Date and in accordance with the Consideration Spreadsheet.