Pool 3 Loan definition

Pool 3 Loan. Pursuant to a Loan and Security Agreement, dated as of the date hereof ("Loan Agreement 3"), between Lodgian Hotels Fixed III, LLC, Lodgian AMI, Inc., Minneapolis Motel Enterprises, Inc. and Servico Centre Associates, Ltd. (collectively, the "Pool 3 Borrowers") and Lender, Lender has made a loan in the amount of $66,818,500 ("Pool 3 Loan"), which Loan is evidenced by a Promissory Note, dated as of the date hereof ("Note 3"), made by the Pool 3 Borrowers to Lender; and
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Pool 3 Loan. A Loan in the amount of $66,818,500 ("Pool 3 Loan"), which Pool 3 Loan is evidenced by a Promissory Note, dated as of the date hereof ("Note 3"), made by the Pool 3 Borrowers to Lender and is further evidenced and secured by a Loan and Security Agreement, dated as of the date hereof ("Loan Agreement 3"), between Lodgian Hotels Fixed III, LLC, Lodgian AMI, Inc., Minneapolis Motel Enterprises, Inc. and Servico Centre Associates, Ltd. (collectively, the "Pool 3 Borrowers") and Lender.
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Pool 3 Loan. Any Group II Loan identified on the Group II Loan Schedule as a Pool 3 Loan.
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Related to Pool 3 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.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

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

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

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

  • PPP Loan means (i) any covered loan under paragraph (36) of Section 7(a) of the Small Business Act (15 U.S.C. 636(a)), as added by Section 1102 of the CARES Act, or (ii) any loan that is an extension or expansion of, or is similar to, any covered loan described in clause (i).

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

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • CD Loan means a Committed Loan to be made by a Bank as a CD Loan in accordance with the applicable Notice of Committed Borrowing.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Unsecured Loan means any Loan other than a Secured Loan.

  • 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.

  • Wet Loan means a wet-funded first or second lien Mortgage Loan which is underwritten in accordance with the Underwriting Guidelines and does not contain all the required Mortgage Loan Documents in the Mortgage File.

  • Related Loan means any loan or extension of credit to an Obligor of a Shared-Loss Loan held by the Assuming Institution at any time on or prior to the end of the Final Shared-Loss Month.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Secured Loan has the meaning specified in Section 2(e) hereof.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • 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.

  • Outstanding Mortgage Loan As of any Due Date, a Mortgage Loan with a Stated Principal Balance greater than zero which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Mortgage Loan prior to such Due Date.

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • Senior Secured Loan means any interest in a loan, including any assignment of or participation in or other interest in a loan, that (i) is not (and is not expressly permitted by its terms to become) subordinate in right of payment to any obligation of the obligor in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings (other than pursuant to a Permitted Working Capital Lien and customary waterfall provisions contained in the applicable loan agreement), (ii) is secured by a pledge of collateral, which security interest is (a) validly perfected and first priority under Applicable Law (subject to liens permitted under the applicable credit agreement that are reasonable for similar loans, and liens accorded priority by law in favor of any Governmental Authority) or (b)(1) validly perfected and second priority in the accounts, documents, instruments, chattel paper, letter-of-credit rights, supporting obligations, deposit accounts, investments accounts and any other assets securing any Working Capital Revolver under Applicable Law and proceeds of any of the foregoing (a first priority lien on such assets a "Permitted Working Capital Lien") and (2) validly perfected and first priority (subject to liens for taxes or regulatory charges and any other liens permitted under the related underlying instruments that are reasonable and customary for similar loans) in all other collateral under Applicable Law, and (iii) the Portfolio Manager determines in good faith that the value of the collateral for such loan (including based on enterprise value) on or about the time of acquisition equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by a first priority Lien over the same collateral. For the avoidance of doubt, debtor-in-possession loans and FLLO Loans shall constitute Senior Secured Loans.

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