Second Supplemental Loan definition

Second Supplemental Loan means the loan(s), in an amount not to exceed the Second Supplemental Loan Limit, made by the Lender to or for the benefit of the Borrowers pursuant to terms and conditions of Section 2.1.2 hereof, as the same may be increased by (a) the amount of any draw by a beneficiary under any Designated Letters of Credit which is not immediately reimbursed by Borrowers to Lender, and (b) the amount of any reimposition of the Designated Availability Reserve pursuant to the terms of this Agreement which would at anytime cause the outstanding amount of Loans and Letter of Credit Accommodations to exceed the amount of Revolving Loans and Letter of Credit Accommodations available to Borrowers pursuant to Sections 2.1 and 2.2 of the Loan Agreement (as calculated by Lender, subject to sublimits and Availability Reserves as provided for in the Loan Agreement). As of the date of Amendment No. 13, the outstanding principal amount of the Second Supplemental Loan is $3,150,000."

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Second Supplemental Loan as to any Lender, the term loan made ------------------------ by such Lender on the Second Supplemental Closing Date pursuant to the Second Supplemental Commitment of such Lender.

Second Supplemental Loan incorporated into the Loan Agreement by Amendment No. 8 is hereby deleted and replaced as follows:

Examples of Second Supplemental Loan in a sentence

Each Lender made a Second Supplemental Loan to the Borrower on the Second Supplemental Closing Date in an amount equal to the amount of the Second Supplemental Commitment of such Lender.
Save as aforesaid, all other terms of the Loan Facility A Agreement (as amended by the First Supplemental Loan Facility A Agreement, the Second Supplemental Loan Facility A Agreement and the Third Supplemental Loan Facility A Agreement) remained in full force and effect.
The terms of the Second Supplemental Loan Agreement (including the interest rate) were arrived at by the parties thereto after arm’s length negotiations, with reference to prevailing commercial practice and the amount of the Remaining Loan.
Save as aforesaid, all other terms of the Loan Facility A Agreement (as amended by the First Supplemental Loan Facility A Agreement and the Second Supplemental Loan Facility A Agreement) remained in full force and effect.
This Second Supplemental Loan Agreement shall become effective on the date of the registration with the NBU of the Borrower’s notification to the Loan Agreement made thereto by virtue of this Second Supplemental Loan Agreement, which shall be evidenced by the registration notation of the NBU.
Save for the amendments to the Loan Agreement effected by this Second Supplemental Loan Agreement, all terms and conditions of the Loan Agreement shall remain in full force and effect and the Loan Agreement with effect from the date of the registration with the NBU of the Borrower’s notification as set out in Clause 11 (NBU Registration) shall be read and construed as one document with this Second Supplemental Loan Agreement.
Following the occurrence and during the continuance of any Event of Default (and whether or not the Lender exercises its rights and remedies on account thereof), the Second Supplemental Loan shall bear interest, at the rate of eighteen (18%) percent per annum, and such interest shall be payable upon demand.
On 31 December 2019, the parties entered into the Second Supplemental Loan Facility A Agreement to extend the repayment date of Loan A to 31 March 2020 with interest rate remaining at 9.5% per annum on Loan A from 1 July 2019 and up to and including 31 March 2020.
The terms and conditions of the Second Supplemental Loan Agreement are negotiated on an arm’s length basis among the Borrower and the Lender with reference to prevailing commercial practice.
Any party may enter into this Second Supplemental Loan Agreement by executing any such counterpart.

More Definitions of Second Supplemental Loan

Second Supplemental Loan means the loan made by the Lender to or for the benefit of the Borrowers pursuant to Section 2.1.2 hereof. (d) "Second Supplemental Loan Maturity Date": July 13, 2002. (e) "Second Supplemental Loan Termination Date" shall mean the earliest of (i) the Second Supplemental Loan Maturity Date, (ii) the date set as the termination date of this Agreement, (iii) the occurrence of an Event of Default described in Sections 10.1(g) or 10.1(h), (iv) the date set by the Lender as the termination date of the Second Supplemental Loan following the occurrence of an Event of Default other than an Event of Default described in Sections 10.1(g) or 10.1(h), or (v) the date on which Borrowers repay all Obligations arising in respect of the Second Supplemental Loan.

Second Supplemental Loan means a term loan made by a Second Supplemental Lender to the Borrower under its Second Supplemental Commitment, which may either be a Base Rate Loan or a Eurodollar Loan.

Second Supplemental Loan as used in the Loan Agreement is hereby redefined to mean: "the loan made by Lender to or for the benefit of Borrowers pursuant to Section 2.1.2 hereof, as the same may be increased pursuant to Sections 9(b) and 10 of Amendment No. 11 to Financing Agreements."