Seller Loan definition

Seller Loan is defined in Section 7.08.

Seller Loan means the $ subordinate loan made by the Seller to the Borrower in connection with the acquisition of the Project.

Seller Loan means a loan that, following the occurrence of a Regulatory Event, the Seller may elect to advance to the Issuer in accordance with the Auto Portfolio Purchase Agreement, for an amount equal to the Seller Loan Purchase Price to be applied by the Issuer in order to redeem all (and not some only) of the Junior Notes in accordance with Note Condition 5.5 (Optional redemption for regulatory reasons), which satisfies the Seller Loan Conditions.

Examples of Seller Loan in a sentence

• In the event the parties are unable to obtain an Assumption Lender’s consent to the imposition of a second lien on the applicable Property, such Seller Loan shall be secured by a pledge of 100% of the ownership interests in such Purchaser’s Designated Entity owning such Property and providing, without limitation, for AIMCO or its designated affiliate to assume management of the applicable entity and of the Property upon a default under such Seller Loan.

• Interest shall be payable on the Xxxx Bridge Crossing Seller Loan at a rate of 1.4% for the first three (3) years and at a rate of 4% each year thereafter until maturity.

• Interest shall be payable on the Runaway Bay I Seller Loan at a rate of 0% for the first three (3) years and at a rate of 4% each year thereafter until maturity.

• If Sellers elect to convert an Assumption Property to a Payoff Property as provided herein, Sellers shall have no obligation to offer to Purchaser the Seller Loan for such Property.

• Interest shall be payable on the Xxxxxx’x Pointe Seller Loan at a rate of 3.5% for the first three (3) years and at a rate of 4% each year thereafter until maturity.

More Definitions of Seller Loan

Seller Loan means the loan, with an aggregate principal amount equal to one billion two hundred million dollars ($1,200,000,000), deemed to have been made by Seller to OpCo Purchaser in a single drawing on the Closing Date pursuant to, and subject to the terms and conditions of, the Seller Financing Loan Agreement.

Seller Loan means a loan from Building 208 Holdings, LLC, to the Borrower in the principal sum of $10,450,000.

Seller Loan means the loans in the aggregate principal amount of $600,000 made by Purchaser to GGC in four installments (the “Installments”) on each of September 21,2020 ($150,000), October 15, 2020 (210,000), November 18,2020 ($90,000) and December 18,2020 ($150,000). The Instalments shall be evidenced by zero-interest Promissory Notes, in the form of Exhibit C hereto (each a “Note”). In the event (i) either GGC, the Sellers or the Purchaser terminates the Transaction because the aggregate valuation set forth in the Fairness Opinion for GGC and Helix Holdings, LLC is not equal to or greater than $43,000,000 , then $210,000 of the Seller Loan which has been advanced to GGC as of the date of such termination will be forgiven in its entirety and GGC shall be permitted to retain such forgiven principal advances; or (ii) the Purchaser terminates the Transaction and does not pay the Purchase Price to the Sellers and the Purchaser does not have Cause (as defined below) for such termination and non- payment, then 75% of the outstanding amount of the Seller Loan which has been advanced to GGC as of the date of termination will be forgiven in its entirety and GGC shall be permitted to retain such forgiven principal advances, provided however, if both (i) and (ii) apply to Purchaser’s termination, GGC shall obtain forgiveness in the amount of (ii).The remaining balance of the outstanding amount of the Seller Loan will remain due and owing by GGC to the Purchaser, to be repaid upon the earlier of (i) the consummation of a debt or equity financing in the aggregate amount of not less than $3 million by an Acquired Company and (ii) 12 months following the date of each advance, subject to the terms and conditions provided in the Note. In connection with the forgoing, Seller Loan forgiveness shall be allocated to each Note in proportion to amount. In the alternative, upon the Closing, the loan advances shall be applied to the Purchase Price paid to each Seller and shall be offset against the cash amounts owing by the Purchaser to each Seller. “Cause” shall mean (i) evidence that GGC cannot complete a PCAOB audit or review of financial statements because of fraud or material accounting errors;(ii) material misstatements or misrepresentations made by the Sellers following the date hereof and prior to the Closing of the Transaction, (iii) the failure by the Sellers to provide the Purchaser with the due diligence materials necessary or advisable to properly evaluate the business of GGC, ...

Seller Loan has the meaning set forth in Section 1.1(k)(iv).

Seller Loan shall have the meaning set forth in Section 3.19(d).

Seller Loan means the Inter Company Loan Agreement, dated September 2, 2005, between Seller and the Company in the original maximum principal amount of $500 million.

Seller Loan shall have the definition given that term in Section 6.9(d)(iv) of this Agreement.