Special Purpose Loan definition

Special Purpose Loan means a loan for automobile assistance, housing assistance, exercising stock options or such other purpose as is reasonably expected to benefit the Company.
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Special Purpose Loan means the loan, if any, made by a Lender pursuant to Section 2.01(c) of this Agreement.
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Special Purpose Loan means any Approved Manufactured Home Loan or Agency Buydown Loan.
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Examples of Special Purpose Loan in a sentence

  • Certain Special Purpose Loan programs are authorized under separate or special funding under SBA’s budget.

  • On the date of a reduction of the Commitment pursuant to Section 2.11 hereof, the aggregate amount of outstanding (i) Revolver Advances in excess of the Revolver Commitment as reduced, and (ii) if the Special Purpose Loan is a revolving loan as determined in accordance with Section 2.17 hereof, the Special Purpose Advances in excess of the Special Purpose Commitment as reduced, shall be immediately due and payable (which such principal repayments may not be made by means of Refinancing Advances).

  • If any Change of Control shall have occurred, each of the Revolver Commitment and the Special Purpose Commitment (if the Special Purpose Loan is a revolving loan as determined in accordance with Section 2.17 hereof) shall immediately and automatically be reduced to zero, provided that, except with respect to the Subordinated Notes as provided in subsection (e) below, if the Loans are rated at least BBB or above, or any equivalent thereto, by Standard & Poor's Ratings Group, a Division of McGrxx-Xxxx, Xxc.

  • The Revolver Commitment and, if the Special Purpose Loan is a revolving loan in accordance with the terms of Section 2.17 hereof, the Special Purpose Commitment, shall both automatically be reduced to zero and terminate on the Maturity Date.

  • The application of prepayments made under this Section 2.05 as between the Revolver Loan, the Special Purpose Loan and the Term Loan shall be determined in accordance with the provisions of Section 2.13(f) hereof.

  • In the consumer finance business, LIFE has been seeking agreements with new customers through the enhancement of its product lineup, including the Real Estate Secured Loan for Business Proprietors and LIFE Special Purpose Loan, which are new products launched in the previous fiscal year.

  • If the Borrowing Notice fails to specify (a) whether such Borrowing is under the Revolver Loan or the Special Purpose Loan, then such Borrowing shall be deemed to be made under the Revolver Loan, (b) the duration of the initial Interest Period for any Borrowing or Refinancing Advance, as applicable, comprised of LIBOR Advances, such Interest Period shall be three months.

  • Conditions Precedent to the Making of the Special Purpose Loan.....

  • On March 25, 2020, Arbitrator Richard Alsup issued an award, concerning the Special Purpose Loan Agreement (“SPLA”), in Plaintiff’s favor and jointly and severally against all Defendants (except Level One Advisors, Inc.


More Definitions of Special Purpose Loan

Special Purpose Loan means a Loan where (i) the Obligor (or “Operating Company” if the Obligor is an “Eligible Passive Company”) has operated for two years or less and/or (ii) the “Project” involves the acquisition, construction, conversion or expansion of a limited or single purpose building or structure, all within the meaning of 13 CFR §120.920.
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Special Purpose Loan means a Loan where (i) the Obligor (or “Operating Company” if the Obligor is an “Eligible Passive Company”) has operated for two years or less and/or (ii) the “Project” involves the acquisition, construction, conversion or expansion of a limited or single purpose building or structure, all within the meaning of 13 CFR §120.920. “Sterling Bank Facility” means those loans and other extensions of credit made under that certain Amended and Restated Loan and Security Agreement dated as of December 7, 2015 among CDS Business Services, Inc. d/b/a Newtek Business Credit Solutions, a Delaware corporation, as borrower, Sterling National Bank, as agent and lender, and BankUnited, N.A., as lender, for the financing of SBA - 36- 34881204v6 110062879
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Special Purpose Loan means a loan for automobile assistance, housing assistance, exercising stock options or such other purpose as is
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Related to Special Purpose Loan

  • Special Purpose Financing means any financing or refinancing of assets consisting of or including Receivables of the Company or any Restricted Subsidiary that have been transferred to a Special Purpose Entity or made subject to a Lien in a Financing Disposition.

  • Special Purpose Entity means a direct or indirect subsidiary of Holdings, whose organizational documents contain restrictions on its purpose and activities and impose requirements intended to preserve its separateness from Holdings and/or one or more Subsidiaries of Holdings.

  • Special purpose equipment means equipment which is used only for research, medical, scientific, or other technical activities. Examples of special purpose equipment include microscopes, x-ray machines, surgical instruments, and spectrometers.

  • Special Purpose Subsidiary means any (a) not-for-profit Subsidiary, (b) captive insurance company or (c) Receivables Subsidiary and any other Subsidiary formed for a specific bona fide purpose not including substantive business operations and that does not own any material assets, in each case, that has been designated as a “Special Purpose Subsidiary” by the Borrower.

  • Special Purpose Financing Fees means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Special Purpose Financing.

  • Special Purpose Securitization Subsidiary means (i) a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is organized in a manner (as determined by the Borrower in good faith) intended to reduce the likelihood that it would be substantively consolidated with Holdings (prior to a Qualified IPO), the Borrower or any of the Subsidiaries (other than Special Purpose Securitization Subsidiaries) in the event Holdings (prior to a Qualified IPO), the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Securitization Subsidiary.

  • Special purpose spray adhesive means an aerosol adhesive that meets any of the following definitions:

  • Special Purpose Vehicle means a trust, partnership or other special purpose Person established by the Company and/or any of its Restricted Subsidiaries to implement a Qualified Receivables Transaction.

  • Special Purpose Financing Undertakings means representations, warranties, covenants, indemnities, guarantees of performance and (subject to clause (y) of the proviso below) other agreements and undertakings entered into or provided by the Company or any of its Restricted Subsidiaries that the Company determines in good faith (which determination shall be conclusive) are customary or otherwise necessary or advisable in connection with a Special Purpose Financing or a Financing Disposition; provided that (x) it is understood that Special Purpose Financing Undertakings may consist of or include (i) reimbursement and other obligations in respect of notes, letters of credit, surety bonds and similar instruments provided for credit enhancement purposes or (ii) Hedging Obligations, or other obligations relating to Interest Rate Agreements, Currency Agreements or Commodities Agreements entered into by the Company or any Restricted Subsidiary, in respect of any Special Purpose Financing or Financing Disposition, and (y) subject to the preceding clause (x), any such other agreements and undertakings shall not include any Guarantee of Indebtedness of a Special Purpose Subsidiary by the Company or a Restricted Subsidiary that is not a Special Purpose Subsidiary.

  • Special Purpose Provisions has the meaning specified in Section 11.02 of the LLC Agreement.

  • Special Purpose Receivables Subsidiary means a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Receivables Financing for the acquisition of Receivables Assets or interests therein, and which is organized in a manner intended to reduce the likelihood that it would be substantively consolidated with Holdings, the Borrower or any of the Subsidiaries (other than Special Purpose Receivables Subsidiaries) in the event Holdings, the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law).

  • Special Purpose Investment Personnel means each SEI Access Person who, in connection with his or her regular functions (including, where appropriate, attendance at Board meetings and other meetings at which the official business of a Trust or any Fund thereof is discussed or carried on), obtains contemporaneous information regarding the purchase or sale of a Security by a Fund. Special Purpose Investment Personnel shall occupy this status only with respect to those Securities as to which he or she obtains such contemporaneous information.

  • Special purpose district means an area with special boundaries created as authorized by law for

  • Commercial Purposes means any commercial or profit generating purpose including the sale, lease of other transfer of the Material and includes uses of the Material by any organisation, including Recipient, to perform contract research, to produce or manufacture products for general sale, or to conduct research activities that result in any sale, lease, license, or transfer of the Material.

  • Commercial purpose means the use of any part of a record or records, or information derived from records, in any form for sale, resale, or solicitation or advertisement for sales or services. For purposes of this definition, requests made by news media and non-profit, scientific, or academic organizations shall not be considered to be made for a "commercial purpose" when the principal purpose of the request is:

  • Residential purposes means use for dwelling or recreational purposes, or both.

  • 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:

  • Securitization Repurchase Obligation means any obligation of a seller of Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a Standard Securitization Undertaking, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • General purpose equipment means equipment, which is not limited to research, medical, scientific or other technical activities. Examples include office equipment and furnishings, modular offices, telephone networks, information technology equipment and systems, air conditioning equipment, reproduction and printing equipment, and motor vehicles.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Permitted Securitization Financing means one or more transactions pursuant to which (i) Securitization Assets or interests therein are sold to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance their acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets and any Hedging Agreements entered into in connection with such Securitization Assets; provided, that recourse to the Borrower or any Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions shall be limited to the extent customary (as determined by the Borrower in good faith in consultation with the Administrative Agent) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale”/“absolute transfer” opinion with respect to any transfer by the Borrower or any Subsidiary (other than a Special Purpose Securitization Subsidiary)).

  • Qualified Securitization Financing means (a) any timeshare loan backed notes (such as Hilton Grand Vacations Trust 2013-A) and similar facilities, (b) any revolving non-recourse timeshare notes credit facility (such as the receivables loan agreement, dated May 9, 2013, among Hilton Grand Vacations Trust I LLC, Xxxxx Fargo Bank, National Association, as paying agent, a commercial paper conduit lender, Deutsche Bank AG New York Branch and Bank of America, N.A., as committed lenders and Deutsche Bank AG New York Branch, as administrative agent) and similar facilities and (c) any other Securitization Financing of a Securitization Subsidiary that meets the following conditions: (x) the board of directors of the Borrower shall have determined in good faith that such Qualified Securitization Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Borrower and the Securitization Subsidiary and (y) all sales and/or contributions of Securitization Assets and related assets to the Securitization Subsidiary are made at fair market value (as determined in good faith by the Borrower). The grant of a security interest in any Securitization Assets of the Borrower or any of its Restricted Subsidiaries (other than a Securitization Subsidiary) to secure Indebtedness under this Agreement prior to engaging in any Securitization Financing shall not be deemed a Qualified Securitization Financing.

  • 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.

  • Securitization Asset means (a) any accounts receivable, mortgage receivables, loan receivables, royalty, franchise fee, license fee, patent or other revenue streams and other rights to payment or related assets and the proceeds thereof and (b) all collateral securing such receivable or asset, all contracts and contract rights, guarantees or other obligations in respect of such receivable or asset, lockbox accounts and records with respect to such account or asset and any other assets customarily transferred (or in respect of which security interests are customarily granted) together with accounts or assets in connection with a securitization, factoring or receivable sale transaction.

  • Special Pass-Through Entity means a grantor trust, S corporation, or partnership (as determined, in each case, for Federal income tax purposes) where more than 50% of the value of any beneficial owner’s interest in such pass through entity is attributable to the pass-through entity’s interest in the Retained Note.