Permitted Permanent Loan definition

Permitted Permanent Loan. Collectively:
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Permitted Permanent Loan appearing in Section 1.1 of the Original Agreement is amended in its entirety to read as follows:
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Examples of Permitted Permanent Loan in a sentence

  • All Real Estate owned by Company or any of its Restricted Subsidiaries must be owned by either: (i) an Unencumbered Real Estate Subsidiary, if such Real Estate is not subject to a Lien encumbering a Permitted Permanent Loan; or (ii) an Encumbered Real Estate Subsidiary if such Real Estate is encumbered by a Lien securing a Permitted Permanent Loan.

  • If the prohibition on the pledge of the Equity Interests of a Real Estate Subsidiary set forth in the Related Agreements evidencing or securing a Permitted Permanent Loan made to such Real Estate Subsidiary is terminated, then the Borrower shall also pledge, and shall cause each Subsidiary to pledge, such Equity Interests to the Agent, for the benefit of the Banks subject to no other Liens, except for Liens permitted pursuant to Section 6.12 hereof.

  • The Borrower shall cause Operations to comply with, its obligations under each LTF Lease in all respects such that neither the Real Estate Subsidiary that is the lessor party thereto nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease shall have the right to terminate such LTF Lease by reason of default by the Borrower or Operations, as the case may be, thereunder.

  • Company shall comply with, and shall cause each applicable Restricted Subsidiary to comply with, its obligations under each LTF Lease in all material respects such that neither the Encumbered Real Estate Subsidiary that is the lessor under such LTF Lease nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease has at any time the right to terminate such LTF Lease by reason of default by Company or Operations under such LTF Lease.

  • The Borrower shall comply with, and shall cause Operations to comply with, their respective obligations under each LTF Lease in all respects such that neither the Real Estate Subsidiary that is the lessor party thereto nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease shall have the right to terminate such LTF Lease by reason of default by the Borrower or Operations, as the case may be, thereunder.

  • If the prohibition, restrictions or limitations set forth in the Related Agreements for any Permitted Permanent Loan are terminated with respect to any Real Estate Subsidiary, then the Borrower shall comply, and shall cause each Subsidiary to comply, with this Section 5.16.

  • The Borrower shall comply with its obligations under each LTF Lease in all respects such that neither the Real Estate Subsidiary that is the lessor party thereto nor any third party lender whose Permitted Permanent Loan is secured by such LTF Lease shall have the right to terminate such LTF Lease by reason of default by the Borrower thereunder.

  • The Borrower shall take all actions necessary to assure that the Borrower holds in its name fee title to all parcels of real property in which the Borrower or any Subsidiary has any interest except for Clubs that are owned by a Real Estate Subsidiary subject to Lien securing a Permitted Permanent Loan made to such Real Estate Subsidiary.

Related to Permitted Permanent Loan

  • Permanent Loan shall have the meaning assigned to that term in Section 2.16.1.

  • Permitted Overadvance means an Overadvance made by the Agent, in its discretion, which:

  • Permitted Person means – the Representatives of the Recipient; and any other person to whom the Recipient discloses Confidential Information with the prior written consent of the Disclosing Party;

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

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

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Delayed Draw Funding Date means the date occurring on or after the Effective Date upon which all of the conditions to funding the Delayed Draw Term Loan set forth in Section 6.02 are satisfied and the Delayed Draw Term Loan is funded.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Permitted Loans means:

  • Revolving Loan Agreement means that certain Revolving Credit and Security Credit Agreement dated as of the Closing Date by and among Revolving Loan Agent, the Revolving Loan Lenders and the Loan Parties, as amended, restated or otherwise modified from time to time to the extent not prohibited by the Intercreditor Agreement.

  • Permitted Persons means (A) the Company; (B) any Related Party; or (C) any group (as defined in Rule 13b-3 under the Exchange Act) comprised of any or all of the foregoing.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Revolving Loan Documents means the “Loan Documents” as defined in the Revolving Credit Agreement.