Payoff Notice definition
Examples of Payoff Notice in a sentence
If the Borrower does not repay such amount in full within one hundred eighty (180) days of the Payoff Notice, the Borrower will no longer have the right to initiate a Valuation Dispute and the Lender Valuation, as determined by the Administrative Agent from time to time, will be used for all subsequent determinations of the LTV.
Said Loan Request, Interest Rate Election and Payoff Notice shall, as applicable, identify the Lender which has agreed to fund any Negotiated Loan.
Only one Loan Request, Interest Rate Election and Payoff Notice requesting Primary Loans and only one Loan Request, Interest Rate Election and Payoff Notice requesting Swing Loans shall be submitted to the Lead Administrative Agent on any date.
Immediately upon the payment of all Obligations (other than any contingent obligations in respect of which no claim for reimbursement has been made) of New Mountain pursuant to the Loan Agreement, and termination of the Loan Agreement, the Administrative Agent shall deliver a Payoff Notice to the Safekeeping Agent in the form attached hereto as Exhibit B.
Following the receipt of a Payoff Notice, the Safekeeping Agent shall continue to hold the Assets pursuant to the terms of this Agreement and, with respect to the transfer and release of any Assets or any other matter referred to in this Agreement regarding the Assets or Accounts, the Safekeeping Agent shall comply with Proper Instructions.
During the Years 1-2 Period, Lender shall be deemed to have exercised the Expedited Payment Option if (A) the Senior Loan (as defined in the Junior Loan Agreement) is paid in full but all the First Priority Conditions (as hereinafter defined) are not fulfilled, and (B) Lender sends the Waiver of Payoff Notice defined in Section 3 below.
On each Business Day on which a Loan Request, Interest Rate Election and Payoff Notice is delivered to the Lead Administrative Agent, the Lead Administrative Agent shall notify the applicable Lenders (which notification may be telephonic and, if telephonic, shall be promptly confirmed in writing) no later than 11:00 a.m. (Los Angeles time) or in the case of a Swing Loan, 11:30 a.m. (Los Angeles time)) of the aggregate amount of Primary Loans and/or Swing Loans which will be funded on such date.
Contemporaneously with the delivery of the Funded Debt Payoff Notice, the Company or the Selling Stockholders shall deliver to Buyer a notice setting forth wiring instructions for the Purchase Price to be paid to the Selling Stockholders on the Closing Date.
The Company may elect from time to time to convert Direct Loans from Federal Funds Rate Loans to Eurodollar Loans or to have Direct Loans funded as Eurodollar Loans by giving the Managing Administrative Agent at least three Eurodollar Business Days’ prior irrevocable notice of such election by delivery of a duly executed Loan Request, Interest Rate Election and Payoff Notice.
The sending of a Waiver of Payoff Notice by Lender shall not impair any rights of Lender with respect to any future prepayment of this Junior Note (including, without limitation, the right to collect any Prepayment Premium due under Section 6 hereof in connection with such prepayment).