SBA Loans definition
SBA Loans means loans guaranteed by the U.S. Small Business Administration.
SBA Loans means (a) the loans listed on SCHEDULE 1.1(P) hereto (exclusive of any reserves for loan losses) and all obligations of a Seller to make additional extensions of credit in connection with such loans, as such loans may be increased, decreased, amended, renewed, or extended in the ordinary course of business between July 1, 1999 and the close of business on the Closing Date (included within such loans shall be any Letters of Credit and ISDA Transactions related to such loans), (b) loans originated at the Branches and made in the ordinary course of business between July 1, 1999 and the close of business on the Closing Date, which loans are secured by an SBA guaranty, whether in whole or in part (exclusive of any reserves for loan losses) (included within such loans shall be any Letters of Credit and ISDA Transactions related to such loans), and all obligations of a Seller to make additional extensions of credit in connection with such loans, as such loans may be increased, decreased, amended, renewed, or extended in the ordinary course of business between July 1, 1999 and the close of business on the Closing Date and (c) any application taken at a Branch in the ordinary course of business between the date hereof and the close of business on the Closing Date and pending on the Closing Date for a loan which would be secured by an SBA guaranty, whether in whole or in part; provided, however, that SBA Loans shall not include any loan described in subsections (a) or (b) above if such loan, as of the Closing Date, is (i) subject to a current legal proceeding related to a Customer's inability or refusal to pay such loan, (ii) not current and with respect to which proceedings are pending against the obligor or obligors of such loan under Title 11 of the United States Code or (iii) Nonperforming; and provided, further, that with respect to any such loan, to the extent that as of the Closing Purchaser shall not have received an SBA Consent, such loan shall no longer be deemed an "SBA Loan" hereunder and shall not be included in the Purchased Assets. Each SBA Loan shall include all documents executed or delivered in connection with such loan to the extent such documents are in the loan file relating to such loan, any and all collateral held as security therefor or in which a security interest, Lien or mortgage has been granted and any and all guarantees, insurance and other credit enhancements relating thereto, together with Accrued Interest thereon, all as exists at th...
SBA Loans means, collectively, the loans listed on Schedule 1.1(k) hereto and all obligations of Seller to make additional extensions of credit in connection with such loans, as such loans may be increased, decreased, amended, renewed, or extended in the ordinary course of business between the date of this Agreement and the close of business on the Closing Date; provided, however, that SBA Loans shall not include any loan described above if such loan, as of the Closing Date, is (i) subject to a current legal proceeding related to a Customer's inability or refusal to pay such loan or (ii) not current and with respect to which proceedings are pending against the obligor or obligors of such loan under Title 11 of the United States Code; and provided, further, that with respect to any such loan, to the extent that as of the Closing, Purchaser shall not have received a SBA Consent, such loan shall no longer be deemed a "SBA Loan" hereunder. Each SBA Loan shall include all documents executed or delivered in connection with such loan to the extent such documents are in the loan file relating to such loan; Seller's rights in and to any and all collateral held as security therefor or in which a security interest, Lien or mortgage has been granted; and all guarantees therefor; together with Accrued Interest thereon, all as exists at the close of business on the Closing Date.
Examples of SBA Loans in a sentence
Each Seller Party maintains in full force and effect all licenses, permits and qualifications required to originate and service the SBA Loans.
It is expressly understood and agreed that, from and after the Closing Date, the Purchaser (i) shall have acquired pursuant to this Agreement all Loan Servicing Rights with respect to the Purchased Loans, including all Pipeline Loans included therein, and (ii) pursuant to the terms of the LSP Agreement and subject to Section 6.13, shall be appointed as the exclusive subservicer with respect to any Retained Loans, including any New SBA Loans originated by the Seller Parties after the Effective Date.
Each of the Seller Parties recognizes and acknowledges that such Person has knowledge of confidential and proprietary information concerning the Business and the SBA Loans, including information relating to financial statements, client or customer identities, potential clients or customers, employees, suppliers, equipment, programs, strategies, analyses, profit margins or other proprietary information (“Confidential Information”).
More Definitions of SBA Loans
SBA Loans means those loans designed to provide a direct incentive for small businesses to keep their workers on the payroll. Any and all SBA Loans received by Existing Operator shall remain the sole responsibility, liability, and obligation of Existing Operator.
SBA Loans means any loans made by ABL to small businesses and partially guaranteed by SBA, all originated in accordance with the SBA Rules and Regulations and pursuant to the authorization contained in Section 7(a) of the SBA Act.
SBA Loans means loans offered through SmartBiz by SmartBiz Lenders that are guaranteed, in part, by the Small Business Administration, as further described at www.smartbizloans.com.
SBA Loans means (i) certain Note Agreement, dated March 12, 2021, by and between the Seller and CalPrivate Bank, and (ii) that certain Note Agreement, dated July 29, 2020, by and between the Seller and the U.S. Small Business Administration, as modified by that certain Loan Modification Agreement dated October 10, 2021.
SBA Loans means loans made pursuant to Section 7(a) of the Small Business Investment Act of 1958, as amended.
SBA Loans mean loans originated by or through or with the assistance of or the repayment of which is guaranteed, in whole or in part, by the Small Business Administration.
SBA Loans means, collectively, the loans listed on Schedule 1.1(o) hereto and all obligations of Seller to make additional extensions of credit in connection with such loans, as such loans may be increased, decreased, amended, renewed, or extended in the ordinary course of business between the date of this Agreement and the close of business on the Closing Date; provided, however, that SBA Loans shall not include any loan described above if such loan, as of the Closing Date, is (i) subject to a current legal proceeding related to a Customer’s inability or refusal to pay such loan or (ii) not current and with respect to which proceedings are pending against the obligor or obligors of such loan under Title 11 of the United States Code; and provided, further, that with respect to any such loan, to the extent that as of the Closing, Purchaser shall not have received a SBA Consent, such loan shall no longer be deemed a “SBA Loan” hereunder. Each SBA Loan shall include all documents executed or delivered in connection with such loan to the extent such documents are in the loan file relating to such loan; Seller’s rights in and to any and all collateral held as security therefor or in which a security interest, Lien or mortgage has been granted; and all guarantees therefor; together with Accrued Interest thereon, all as exists at the close of business on the Closing Date.