Sponsor Loan definition

Sponsor Loan means the loan to Sponsor under that certain Credit and Guaranty Agreement, dated as of October 4, 2010 (as amended, supplemented or otherwise modified from time to time), among Sponsor, certain wholly-owned subsidiaries of Sponsor, as guarantors, the lenders party thereto from time to time and Xxxxxxx Xxxxx Bank USA, as administrative agent and as collateral agent.

Sponsor Loan means a loan from VHP to the Borrower in the principal sum of

Sponsor Loan means that certain indebtedness incurred or to be incurred by the SPAC up to an aggregate principal amount of $750,000 in connection with the SPAC shareholder approval of the amendment to the SPAC’s certificate of incorporation to extend the date by which the SPAC has to consummate a business combination.”

Examples of Sponsor Loan in a sentence

• The Company will reserve and keep available that maximum number of its authorized but unissued securities which are issuable upon exercise of the Warrants, Placement Warrants and Sponsor Loan Warrants outstanding from time to time.

• The shares of Common Stock issuable upon exercise of the Sponsor Loan Warrants have been reserved for issuance and upon the exercise of the applicable Sponsor Loan Warrants and upon payment of the consideration therefor, and when issued in accordance with the terms thereof, such shares of Common Stock will be duly and validly authorized, validly issued, fully paid and non-assessable.

• Pursuant to the Sponsor Loan Note, (i) the Sponsor has waived any and all rights and claims it may have to any proceeds, and any interest thereon, held in the Trust Account in respect of the Sponsor Loan, and (ii) the proceeds from the Sponsor Loan will be deposited by the Company in the Trust Account in accordance with the terms of the Trust Agreement on or prior to the Closing Date or the Option Closing Date, as the case may be.

• The proceeds from the Sponsor Loan shall be deposited into the Trust Account.

• The documentation required to release all Liens on the assets of, and any equity interests in, the Project Company held by the lenders under the Sponsor Loan shall have been prepared and delivered to Escrow Agent in order to enable Escrow Agent to release such Liens concurrently with the Escrow Release in accordance with the Escrow Agreement.

More Definitions of Sponsor Loan

Sponsor Loan means the loans outstanding under that certain Credit Agreement, dated as of December 6, 2018, among the Sponsor, as borrower, the lenders party thereto and Xxxxxx Xxxxxxx Senior Funding, Inc., as administrative agent, as may be amended, amended and restated, modified or supplemented from time to time.

Sponsor Loan has the meaning set forth in Section 1.1(g)(v).

Sponsor Loan means the loan the Sponsor will be making to the Company simultaneously with the Public Offering; (xii) “Sponsor Loan Shares” shall mean the shares underlying the Sponsor Loan Units; (xiii) “Sponsor Loan Units” shall mean an aggregate of up to 414,000 Units of the Company (each Sponsor Loan Unit consists of one-half of a Sponsor Loan Warrant and one Sponsor Loan Share) that may be issued to the Sponsor upon conversion of the Sponsor Loan; (xii) “Sponsor Loan Warrants” shall mean the Warrants to purchase an aggregate of up to 207,000 Ordinary Shares that are included in the Sponsor Loan Units; (xiv) “Trust Account” shall mean the trust fund into

Sponsor Loan means the loan the Sponsor will be making to the Company simultaneously with the Public Offering; (xii) “Sponsor Loan Shares” shall mean the shares underlying the Sponsor Loan Units; (xiii) “Sponsor Loan Units” shall mean an aggregate of up to 622,300 Units of the Company (each Sponsor Loan Unit consists of one-half of a Sponsor Loan Warrant and one Sponsor Loan Share) that may be issued to the Sponsor upon conversion of the Sponsor Loan; (xii) “Sponsor Loan Warrants” shall mean the Warrants to purchase an aggregate of up to 311,150 Ordinary Shares that are included in the Sponsor Loan Units; (xiv) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; (xv) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b); and (xvi) “Charter” shall mean the Company’s memorandum and articles of association, as the same may be amended from time to time.

Sponsor Loan has the meaning set forth in Section 5.23.

Sponsor Loan has the meaning set forth in the Recitals.

Sponsor Loan means a loan made to the Borrower by the Sponsor solely for use by the Borrower to refinance that portion of the Sponsor Temporary Working Capital Loan which is not repaid with advances of the Working Capital Facility on the Project Construction Completion Date and which (i) shall at all times be unsecured, (ii) shall be subordinated to the prior payment in full in cash of all Obligations on terms and conditions satisfactory to the Agent, (iii) shall mature not earlier than six months after the scheduled Term Loan Maturity Date, (iv) shall not require any payments of principal prior to its maturity, (v) shall bear interest payable-in-kind and not in cash, (vi) shall be subject to documentation in form and substance satisfactory to the Agent which, among other things, shall not contain any restrictive covenants or events of default, other than for the failure to pay at maturity, and (vii) may not be prepaid, unless (a) any such prepayment made in any Fiscal Year is in an amount that does not exceed the Borrower’s Excess Cash Flow with respect to the immediately prior Fiscal Year (beginning with the first full Fiscal Year ending after the Project Construction Completion Date) multiplied by the Excess Cash Flow Recapture Percentage for such immediately preceding Fiscal Year, and (b) such prepayment satisfies each of the Sponsor Loan Prepayment Requirements.