Renewal Loan Replacement definition

Renewal Loan Replacement means a Renewal effected on or prior to the last day of the Revolving Period in which (a) the applicable Renewal Loan (including the amount of the related Renewal Loan Advance) is sold by the applicable Seller to the Depositor and the Depositor Loan Trustee for the benefit of the Depositor and transferred by the Depositor and the Depositor Loan Trustee for the benefit of the Depositor to the Issuer and the Issuer Loan Trustee for the benefit of the Issuer and (b) the existing Loan Agreement with respect to the applicable Terminated Loan is terminated and replaced, on the day such Renewal is effected; provided, however, that if the Revolving Period is reinstated following the occurrence of an Early Amortization Event as contemplated in the definition of “Revolving Period,” the capacity to effect Renewal Loan Replacements shall be reinstated as well (subject to termination upon any subsequent expiration or termination of the Revolving Period).
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Renewal Loan Replacement means a Renewal effected by the Servicer or any Subservicer on behalf of the Issuer, after the Closing Date and during the Revolving Period, subject to certain amendments to the ABL Facility, and so long as it is an Eligible Loan, in which (a) the applicable Renewal Loan (including the amount of the related Renewal Loan Advance) is sold by the Seller to the Depositor and conveyed by the Depositor to the Issuer and (b) the existing Contract with respect to the applicable Terminated Loan is terminated on the day such Renewal is effected.
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Examples of Renewal Loan Replacement in a sentence

  • Except in connection with a Renewal Loan Replacement, the Depositor shall not convey, assign or transfer (or cause to be conveyed, assigned or transferred) any Additional Loans (or any rights therein) to the Issuer (or the Issuer Loan Trustee for the benefit of the Issuer) other than Additional Loans acquired by the Depositor (and, solely with respect to legal title thereto, the Depositor Loan Trustee for the benefit of the Depositor) from a Seller pursuant to Section 2.03 of the Loan Purchase Agreement.

Related to Renewal Loan Replacement

  • Extended Loans has the meaning specified in Section 2.19(a).

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Additional Loan means the Eligible Loans evidenced by a Note or Notes sold from time to time during the Supplemental Purchase Period pursuant to an Additional Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Benchmark Replacement means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date: