Settlement Loan definition

Settlement Loan has the meaning set forth in Section 7.2.

Settlement Loan has the meaning assigned to such term in subsection 2.5(e).

Settlement Loan means a Loan made by Wachovia pursuant to SECTION 2.01(b), which must be a Base Rate Loan.

Examples of Settlement Loan in a sentence

• Settlement Loan - as defined in Section 3.1.3(ii) of the Agreement.

• The Agent shall not (and shall not permit any of its Affiliates to) make any Settlement Loan if (i) the Agent shall have received written notice from any Lender that one or more of the applicable conditions precedent set forth in Sections 6.1 or 6.2 hereof will not be satisfied on the requested funding date of the applicable Borrowing or (ii) the Agent has actual knowledge that the requested Borrowing would exceed the limitations set forth in Section 2.1 on the funding date.

• If any Settlement Loan is not repaid on the due date thereof, then on the second Business Day after the Agent's request each Lender (other than the Agent in its capacity as a Lender) shall purchase a participating interest in such Settlement Loan in an amount equal to its Applicable Percentage of such Settlement Loan by transferring to the Agent, in immediately available funds, the amount of such participation, without duplication for any payment previously made.

• Each Settlement Loan shall constitute a Revolving Loan hereunder and shall be subject to all of the terms, conditions and security applicable to other Revolving Loans, except that all payments thereon shall be payable to the Agent (or its Affiliate) solely for its own account.

• The Settlement Loans shall be evidenced by a single Settlement Loan Note payable to the order of Wachovia in the original principal amount of $10,000,000.

More Definitions of Settlement Loan

Settlement Loan as defined in Section 3.1.3(ii) of the Agreement.

Settlement Loan shall have the meaning set forth in SECTION 6.1(C)(II) of this Agreement.

Settlement Loan as defined in Section 3.1.3(ii) of the --------------- Agreement. Settlement Report - a report delivered by Agent to Lenders ----------------- summarizing the amount of the outstanding Revolver Loans as of the Settlement Date and the calculation of the Borrowing Base as of such Settlement Date. Solvent - as to any Person, such Person (i) owns Property ------- whose fair saleable value is greater than the amount required to pay all of such Person's Debts (including contingent debts), (ii) is able to pay all of its Debts as such Debts mature, (iii) has capital sufficient to carry on its business and transactions and all business and transactions in which it is about to engage; and (iv) is not "insolvent" within the meaning of Section 101(32) of the Bankruptcy Code. Statutory Reserves - on any date, the percentage (expressed as ------------------ a decimal) established by the Board of Governors which is the then stated maximum rate for all reserves (including, but not limited to, any emergency, supplemental or other marginal reserve requirements) applicable to any member bank of the Federal Reserve System in respect to Eurocurrency Liabilities (or any successor category of liabilities under Regulation D). Such reserve percentage shall include, without limitation, those imposed pursuant to said Regulation D. The Statutory Reserve shall be adjusted automatically on and as of the effective date of any change in such percentage. Subordinated Debt - Debt of any or all Borrowers that is fully ----------------- and absolutely subordinated in right of payment to the Obligations in a manner satisfactory to Agent. Subsidiary - any Person a majority of the equity ownership or ---------- Voting Stock of which is at the time owned, directly or indirectly, by a Borrower or by one or more other Subsidiaries or by a Borrower and one or more other Subsidiaries. Taxes - any present or future taxes, levies, imposts, duties, ----- fees, assessments, deductions, withholdings or other charges of whatever nature, including income, receipts, excise, property, sales, use, transfer, license, payroll, withholding, social security and franchise taxes now or hereafter imposed or levied by the United States, or any state, local or foreign government or by any department, agency or other political subdivision or taxing authority thereof or therein and all interest, penalties, additions to tax and similar liabilities with respect thereto, but excluding, in the case of each Lender, taxes imp...

Settlement Loan means a Loan made by Agent pursuant to SECTION 6.9 hereof.

Settlement Loan means an Acquisition Loan in the Base Currency which is to be applied, at least in part, to pay consideration due under the Offer.

Settlement Loan and "Settlement Loans" have the meanings specified in Section 2.2(h).

Settlement Loan as defined in Section 4.1.3(ii) of this Agreement. Settlement Note - the Amended and Restated Settlement Note to be executed by Borrowers on or about the Closing Date in favor of Wachovia, in the form of Exhibit A -2 attached hereto, which evidences all Settlement Loans made by Wachovia to Borrowers pursuant to this Agreement. Settlement Report - a report delivered by Agent to Lenders summarizing the amount of the outstanding Revolver Loans as of the Settlement Date and the calculation of the Borrowing Base as of such Settlement Date. Slow-Moving Goods - on any date, Finished Goods of Remington (i) which have not been sold by Remington for more than 12 months prior to such date (except for goods consisting of a new product line introduced within the 12-month period prior to such date) or (ii) the aggregate Value of which on such date exceeds the aggregate Values of all goods of the same type that were sold by Remington during the 12-month period prior to such date. Solvent - as to any Person, such Person (i) owns Property whose fair saleable value is greater than the amount required to pay all of such Person’s Debts (including contingent Debts), (ii) is able to pay all of its Debts as such Debts mature, (iii) has capital sufficient to carry on its business and transactions and all business and transactions in which it is about to engage and (iv) is not “insolvent” within the meaning of Section 101(32) of the Bankruptcy Code or any other Applicable Law (including the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any other law pertaining to fraudulent transfers or acts voidable by creditors). Solvency Certificate - a certificate addressed to Agent and Lenders, and in form and scope reasonably acceptable to them, that (i) is executed by a Senior Officer and (ii) sets forth, as of the date of such certificate, a pro forma GAAP Consolidated balance sheet, pro forma fair market value Consolidated balance sheet, and Projections showing Borrowers’ Projected Availability and working capital for the 12-month period following the date of the certificate, and giving pro forma effect to the proposed Distribution or other transaction on account of which such certificate is required.