SIR Loan definition

SIR Loan means the loan to SIR in the aggregate amount of $40 million which was acquired by the Fund from the Bank on the Closing Date, including replacements and refinancings thereof, whether with the Bank or another lender.
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SIR Loan means the loan to SIR in the aggregate principal amount of $40 million which will be acquired by the Fund from the Bank of Montreal on the Closing Date, as it may be amended from time to time, including extensions, replacements and refinancings thereof, whether with Bank of Montreal, the Fund or another lender;
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SIR Loan means the loan to SIR Corp. in the aggregate principal amount of
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Examples of SIR Loan in a sentence

  • The fair value of the SIR Loan is sensitive to changes in the discount rate.

  • The $40,000,000 SIR Loan bears interest at 7.5% per annum and is due on October 12, 2044.

  • In addition, the Company, the Fund and the Partnership have the right, acting cooperatively, to reduce payments of Royalties and/or interest on the SIR Loan by up to 50% without triggering a cross default under the Credit Agreement for a period of up to nine consecutive months.

  • SIR has the right to require the Fund to, indirectly, purchase the Class C GP Units and assume a portion of the SIR Loan as consideration for the acquisition of the Class C GP Units.

  • The Company has the right to require the Fund to, indirectly, purchase its Class C GP Units of the Partnership and assume a portion of the SIR Loan as consideration for the acquisition of the Class C GP Units.

  • The Fund’s income is derived from the SIR Loan and distributions from the Partnership; accordingly, the Fund is economically dependent on SIR.

  • The $40.0 million SIR Loan is payable to the Fund, bears interest at 7.5% per annum, and is due October 12, 2044.

  • In addition, the Fund, the Partnership and SIR will have the right, acting cooperatively, to reduce payments of Royalties and/or interest on the SIR Loan by up to 50% without triggering a cross default under the Credit Agreement, for a period of up to nine consecutive months.

  • A 0.25% increase or decrease in the discount rate will result in a $400,000 decrease or increase in the fair value of the SIR Loan.

  • The Company has netted the financing fees against the SIR Loan and amortizes this cost over the term of the SIR Loan using the effective interest method.

Related to SIR Loan

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • 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.

  • 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.

  • 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.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Dollar Loan means a Loan denominated in Dollars.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Eurodollar Loan means any Loan bearing interest at a rate determined by reference to the Eurodollar Rate.

  • ABR Loan means any Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • 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;

  • Revolving Loan means a Loan made pursuant to Section 2.01.

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

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Euro-Dollar Loan means a Committed Loan which bears interest at a Euro-Dollar Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • 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.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Existing Loan means the loan identified on Exhibit H.