Opus Loan definition

Opus Loan means that certain loan by Opus to TIETEK LLC, a Delaware limited liability company, TIETEK Technologies, Inc., a Texas corporation, North American Technologies Group, Inc., a Delaware corporation, in the original principal amount of $14,000,000 as evidenced by that certain Construction Loan Agreement, dated as of February 5, 2004, as amended, supplemented, extended, refinanced or otherwise modified from time to time, and the Promissory Note and security agreements executed pursuant thereto, as amended, replaced or restated from time to time.
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Examples of Opus Loan in a sentence

  • The Company hereby agrees that it may not make, and the Holder hereby agrees that it will not accept, any payment or distribution with respect to the Debenture (other than the Interest Share Amount) until the Opus Loan is indefeasibly paid in full in cash.

  • Notwithstanding the foregoing, (a) Holder may file proofs of claim against the Company in any bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property and (b) Holder may accelerate the Debenture to the extent the Opus Loan has been accelerated; provided, that if the acceleration of the Opus Loan has been rescinded, Holder shall be deemed to have automatically rescinded its acceleration of the Debenture.

  • Until the Opus Loan is indefeasibly paid in full in cash, Holder shall not, without the prior written consent of Opus, take any Enforcement Action with respect to the Debenture.

  • As of the Closing Date, no indebtedness or other equity of the Company is senior to the Debentures in right of payment, whether with respect to interest or upon liquidation or dissolution, or otherwise, other than indebtedness secured by purchase money security interests (which is senior only as to underlying assets covered thereby), capital lease obligations (which is senior only as to the property covered thereby) and the Opus Loan.

  • Any payments or distributions or other proceeds of any Enforcement Action obtained by Holder in violation of the foregoing prohibition shall in any event be held in trust by Holder for the benefit of Opus and promptly paid or delivered to Opus in the form received until the Opus Loan is indefeasibly paid in full in cash.

  • Any payments or distributions or other proceeds of any Enforcement Action obtained by Holder in violation of the foregoing prohibition shall in any event be held in trust by Xxxxxx for the benefit of Opus and promptly paid or delivered to Opus in the form received until the Opus Loan is indefeasibly paid in full in cash.

Related to Opus Loan

  • PLUS Loan means a Loan that was made pursuant to the PLUS Program established under Section 428B of the Higher Education Act (or predecessor provisions).

  • U.S. Loan means an extension of credit by a Lender to a Borrower under Article II in the form of a U.S. Committed Loan or U.S. Swing Line Loan.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • U.S. Loans means, individually and collectively as the context may require, the U.S. Revolving Loans, the Swingline Loans and the U.S. Protective Advances.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • SLS Loan means a Loan which was made pursuant to the Supplemental Loans for Students Program established under Section 428A of the Higher Education Act (or predecessor provisions), including Loans referred to as ALAS Loans or Student PLUS Loans.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • 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.