SBA PPP Loan Date definition

SBA PPP Loan Date means the date on which the Borrower receives the proceeds of the SBA PPP Loan.
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SBA PPP Loan Date is April 30, 2020.
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SBA PPP Loan Date means the date on which Borrower receives the proceeds of the SBA PPP Loan.
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Examples of SBA PPP Loan Date in a sentence

  • Notwithstanding anything contained in the Credit Agreement, the SBA PPP Loan (other than interest thereon, to the extent not eligible for forgiveness) shall be disregarded for purposes of calculating financial covenants in the Credit Agreement, except that if any portion of the SBA PPP Loan is not forgiven, for purposes of calculating financial covenants in the Credit Agreement, the unforgiven portion (a) will not be disregarded and (b) will be deemed to have been incurred as of the SBA PPP Loan Date.

  • No later than thirty (30) days after the earlier of (1) the date of determination by the SBA, SBA PPP Loan Lender, or such other agency or entity that will determine the forgiveness of the SBA PPP Loans and (2) the 121st day after the SBA PPP Loan Date, Borrower shall deliver a deposit account control agreement in favor of Lender over the SBA PPP Loan Account, in form and substance acceptable to Lender, or evidence reasonably acceptable to Lender that the SBA PPP Loan Account has been closed.

  • Notwithstanding anything contained in this Agreement, the SBA PPP Loan (other than interest thereon, to the extent not eligible for forgiveness) shall be disregarded for purposes of calculating financial covenants set forth in Section 6.5, except that if any portion of the SBA PPP Loan is not forgiven, for purposes of calculating financial covenants set forth in Section 6.5, the unforgiven portion (a) will not be disregarded and (b) will be deemed to have been incurred as of the SBA PPP Loan Date.


More Definitions of SBA PPP Loan Date

SBA PPP Loan Date means the date on which the applicable Subsidiary of the Borrower receives the proceeds of the applicable SBA PPP Loan. “Secured Parties” means (a) Administrative Agent, (b) each Lender (including the Swing Line Lender), (c) the L/C Issuer, (d) each Affiliate of a Lender (or any Person that was a Lender or an Affiliate of a Lender at the time of the entering into such agreement or arrangement) to which any Loan Party is obligated in respect of Hedging Liability and/or Funds Transfer and Deposit Account Liability, and (e) each Related Party entitled to indemnification under Section 11.13. “Security Agreement” means that certain Pledge and Security Agreement dated the date of this Agreement among Borrower and the Guarantors and Administrative Agent, in the form attached hereto as Exhibit K, as the same may be amended, modified, supplemented or restated from time to time. “Seller Note” means that certain Subordinated Seller Note, dated as of the date hereof, by Borrower in favor of the holder thereof in the form attached as Exhibit B to the Closing Date Acquisition Agreement, as in effect on the date hereof, the obligations of Borrower under which shall constitute Subordinated Debt. “Senior Secured Funded Debt” means, at any time the same is to be determined, the portion of Total Funded Debt outstanding at the time which is secured by a Lien on any assets of the Borrower or any of its Subsidiaries. “Senior Secured Leverage Ratio” means, as of the last day of any fiscal quarter of Borrower, the ratio of Senior Secured Funded Debt as of the last day of such fiscal quarter to EBITDA of Borrower and its Subsidiaries for the period of four fiscal quarters then ended. “Small Business Act” means the Small Business Act (15 U.S. Code Chapter 14A – Aide to Small Business). “SOFR” means a rate equal to the secured overnight financing rate as administered by the Federal Reserve Bank of New York) or a successor administrator of the secured overnight financing rate). “SOFR Loan” means a Loan bearing interest based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate.” “Specified Acquisition Agreement Representations” means such of the representations made by, or with respect to, the Closing Date Target and its Subsidiaries in the Closing Date Acquisition Agreement (as in effect on the date of execution thereof) as are material to the interests of the Lenders, but only to the extent that the Borrower or any of its Subsidiaries have the ri...
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SBA PPP Loan Date means the date on which any US Obligor receives the proceeds of the SBA PPP Loan. 1.1.154 “Securities Account” – has the meaning set out in An Act respecting the transfer of securities and the establishment of security entitlements (Québec). 1.1.155 “Security Documents” – means collectively the agreements and instruments contemplated in Section 13.1, all amendments, supplements, restatements and other modifications thereof, and each other agreement or writing pursuant to which an Obligor grants a Lien to or for the benefit of the Agent and the Lenders, or any of them, alone or together with any other Person, on any of its Assets, in each case to secure all or part of the Obligations. 1.1.156 “Senior Debt” – means, at any time, with respect to the Borrower on a consolidated basis, its Total Debt less any Subordinated Debt, less amounts owing and outstanding under any IQ Loan Facility and less any cash and cash equivalents not exceeding the sum of C$5,000,000 and held in any Current Account or in any other deposit account maintained by the Borrower in respect of which the account bank has executed an account control agreement in favor of the Agent in form and substance acceptable to the Agent. 1.1.157 "Small Business Act" – means the Small Business Act (15 U.S. Code Chapter 14A – Aid to Small Business). 1.1.158 “Solvent” – means, when used with respect to any Person, that:
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SBA PPP Loan Date means the date on which the applicable Subsidiary of the Borrower receives the proceeds of the applicable SBA PPP Loan. “Secured Parties” means (a) Administrative Agent, (b) each Lender (including the Swing Line Lender), (c) the L/C Issuer, (d) each Affiliate of a Lender (or any Person that was a Lender or an Affiliate of a Lender at the time of the entering into such agreement or arrangement) to which any Loan Party is obligated in respect of Hedging Liability and/or Funds Transfer and Deposit Account Liability, and (e) each Related Party entitled to indemnification under Section 11.13.
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SBA PPP Loan Date means with respect to any SBA PPP Loan, the date on which the applicable Borrowers receive the proceeds of such SBA PPPLoan.
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SBA PPP Loan Date means the date on which the Borrower or a Restricted Subsidiary receives the proceeds of the SBA PPP Loan. “Second Amendment Effective Date” means April 30, 2020.
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Related to SBA PPP Loan Date

  • Loan Date means the date of the Loan Agreement as set forth in Exhibit A.

  • Term Loan B Facility means the facility described in Section 2.01(b) providing for an advance of the Term Loan B to the Borrower by the Term Loan B Lenders in the original principal amount of $565,000,000, as adjusted from time to time pursuant to the terms of this Agreement.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • 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.

  • Term Loan Note means a promissory note made by the Borrower in favor of a Term Loan Lender evidencing the portion of the Term Loans made by such Term Loan Lender, substantially in the form attached as Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Term Loan Notes means the promissory notes of the Borrower (if any) in favor of any of the Term Loan Lenders evidencing the portion of the Term Loan provided by any such Term Loan Lender pursuant to Section 2.2(a), individually or collectively, as appropriate, as such promissory notes may be amended, modified, extended, restated, replaced, or supplemented from time to time.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • 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.

  • Closing Date Term Loan Commitment means, as to each Lender, its obligation to make its Closing Date Term Loans to the Borrower pursuant to Section 2.01(b). The aggregate principal amount of the Closing Date Term Loan Commitments of all Lenders effect on the Closing Date is FOUR HUNDRED MILLION DOLLARS ($400,000,000.00).

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • 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).

  • Incremental Revolving Loan Lender shall have the meaning provided in Section 2.14(b).