Permitted Loan definition

Permitted Loan shall have the meaning set forth in Section 4.02(a).

Permitted Loan means any bona fide loan or other extension of credit entered into by a Series A Preferred Unitholder or any of its Affiliates with one or more financial institutions and secured by a pledge, hypothecation or other grant of security interest in Series A Preferred Units, Series A Conversion Units, Common Units, or other assets.

Permitted Loan means any bona fide loans or other extensions of credit entered into by a Holder or any of its respective Affiliates with one or more financial institutions and secured by a pledge, hypothecation or other grant of security interest in shares of Series A Preferred Stock and/or related assets and/or cash, cash equivalents and/or letters of credit.

Examples of Permitted Loan in a sentence

• No Borrower may assign any of its rights or obligations hereunder except pursuant to a Permitted Loan and Collateral Transfer.

• Without limiting the foregoing, in the case of a proposed Permitted Loan and Collateral Transfer involving a Loan secured by Legacy CMBS Collateral, Lender may condition its consent on the making by the Assignee of such additional representations and warranties concerning such Legacy CMBS Collateral as Lender shall require at such time (if any).

• This Permitted Loan Purchase Assignment and Acceptance may be executed in any number of counterparts, which together shall constitute one instrument.

• For purposes of clarification, Permitted Loan Repurchases shall not constitute payments (or prepayments) of Loans for any purpose hereunder.

• Without limiting the foregoing, in the case of a Permitted Loan and Collateral Transfer involving a Loan secured by Legacy CMBS Collateral, Lender may condition its consent on the making by the Assignee of such additional representations and warranties concerning such Legacy CMBS Collateral as Lender shall require at such time (if any).

More Definitions of Permitted Loan

Permitted Loan means, with respect to any Credit Party, an intercompany loan owed by such Credit Party to another Credit Party, which intercompany loan is subject to a subordination agreement substantially in form and substance satisfactory to Agent in its Permitted Discretion.

Permitted Loan has the meaning given to that term in Clause 22.11 (Loans out);

Permitted Loan means a mortgage, hypothecation, and/or pledge of the Notes and/or the shares of Class A Common Stock issuable or issued upon conversion of the Notes in respect of one or more bona fide loans by a Purchaser (or a controlled or controlling Affiliate of a Purchaser).

Permitted Loan means any credit granted, given or issued by the Issuer on arm’s length terms and in the ordinary course of its business to suppliers, customers or partners.

Permitted Loan means (a) any loan made by a member of the Group in the ordinary course of business (in the case of loans and advances of the type described in clause (d) of this definition, subject to the limitations set forth in such clause); (b) any loan made by a member of the Group to another member of the Group; provided that the aggregate amount of loans made after the Closing Date by Obligors to members of the Group that are not Obligors (determined without regard to any write-downs or write-offs of such loans) shall not exceed $300,000,000 at any time outstanding less the total amount of cash and non-cash consideration paid for Equity Interests issued pursuant to clause (e)(vi) of the definition of Permitted Share Issue (to the extent such Equity Interests were not issued to capitalize loans existing on the Closing Date); (c) any loan with respect to which the Administrative Agent (acting on the instructions of the Majority Lenders) shall have given prior written consent; (d) loans or advances to officers, directors and employees of Parent or any member of the Group made in the ordinary course of business and consistent with past practices of Parent and the Group (including, without limitation, portage) in an aggregate amount not to exceed $5,000,000 outstanding at any one time; (e) any loans and credits (other than those permitted pursuant to clauses (a) to (d) above) made by a member of the Group, provided that (i) other than as provided in subclause (i) below, the aggregate amount of all such loans and credits shall not exceed $10,000,000 (or the equivalent of such sum in another currency or currencies) at any one time outstanding, and (ii) at any time at which $10,000,000 or more of loans and credits permitted by this clause (e) are outstanding, the aggregate amount of any other loans and credits permitted by this clause (e) shall not exceed the Available Amount that is Not Otherwise Applied at the time such transaction is consummated (it being understood that a single transaction may utilize amounts available, if any, under both subclause (i) and subclause (ii) of this clause (e)).

Permitted Loan means a total return swap or bona fide loan (including a purpose (margin) or non purpose loan) or other financing arrangement, in each case entered into with a nationally recognized financial institution, including a pledge to such a financial institution to secure such financing.

Permitted Loan means any bona fide purpose (margin) or bona fide non-purpose loan for the benefit of a lender that is not an Affiliate of any Stockholder.