Senior Borrower Loan definition

Senior Borrower Loan means the Borrower Loan as defined in the Senior Borrower Loan Agreement.
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Senior Borrower Loan means the Borrower Loan made to the Borrower pursuant to the Senior Borrower Loan Agreement.
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Senior Borrower Loan shall have the meaning given to the term “Borrower Loan” in the Senior Funding Loan Agreement.
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Examples of Senior Borrower Loan in a sentence

  • Borrower shall first apply all income derived from the Property, including all income from leases, to amounts due under the Loan Documents (as such term is defined in the Senior Borrower Loan Agreement), to pay costs and expenses, including reserves, associated with the ownership, maintenance, operation and marketing of the Land, Improvements and Personal Property, including all amounts then required to be paid under the Borrower Loan Documents, before using or applying such income for any other purpose.

  • The Borrower shall assure that the proceeds of the Borrower Loan and the Senior Borrower Loan are expended so as to cause the Governmental Obligations to constitute “qualified residential rental bonds” within the meaning of Section 142(d) of the Internal Revenue Code of 1986 (the “Code”).

  • Correspondingly, payment of the indebtedness evidenced by the Bonds is and shall be subject and subordinate in all respects to the prior payment in full of all amounts due and payable in respect of the Senior Issuer Notes and the Senior Borrower Loan Documents, and otherwise under the Senior Transaction Documents.

  • Not in excess of two percent (2%) of the proceeds of the Senior Borrower Loan will be used to pay costs of issuance of the Governmental Obligations.

  • The Borrower shall comply with every term of the Regulatory Agreement, and the Borrower hereby acknowledges that in the event of a default under the Regulatory Agreement the Borrower Loan and the Senior Borrower Loan may be accelerated.

  • The Borrower hereby represents and warrants that, within the meaning of Section 147(a)(14) of the Code, the average maturity of the aggregate of the Governmental Obligations does not exceed 120 percent of the average reasonably expected economic life of the facilities being financed with the proceeds of the Senior Borrower Loan.


More Definitions of Senior Borrower Loan

Senior Borrower Loan has the meaning given to the term “ Borrower Loan” in the Senior Bank Loan Agreement.
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Related to Senior Borrower Loan

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Borrower Loan Agreement means the Borrower Loan Agreement, of even date herewith, between the Governmental Lender and the Borrower, as supplemented, amended or replaced from time to time in accordance with its terms.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Borrower Loan Documents shall have the meaning given such term in the Borrower Loan Agreement.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • 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).

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Refinancing Loan has the meaning specified in Section 2.15(b).

  • 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:

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Junior Loan has the meaning provided in the Recitals hereto.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.