SPV Lender definition
Examples of SPV Lender in a sentence
Notwithstanding anything to the contrary in this Section 6.9, to the extent funds have been advanced directly or indirectly by the Series SPV Lender to a Series SPV, the Company shall not pledge, assign or grant such security interest to the Trustee in the Collateral until the occurrence of the Final Repayment Date with respect to such Series SPV.
Each Party acknowledges and agrees that any SPV Lender which funds its participation in the Loan through a Funding Source will create security in favour of the holders or trustee or representative of holders of obligations or securities comprised in such Funding Source over that SPV Lender’s rights, title and interests in relation to this Agreement pursuant to any trust deed relating to such Funding Source and will give notice of such creation to the other Parties hereto.
Upon transfer of the Loans to an SPV Lender, the Loans Administrator shall assume the rights and obligations of the Loans Administrator hereunder and additionally shall assume the rights and obligations of the Facility Agent hereunder.
The Administrative Agent (at the direction of the Bondholder Designee) and the Bondholder Designee each consents to any pledge or assignment of a security interest by the SPV Lender (and its successors and assigns) of its interests and rights under this Agreement and the other Loan Documents.
Commitments in the amount of $42,000,000 are held initially by the SPV Lender, and to obtain the funds necessary to make the $42,000,000 of Revolving Loans under such Commitments hereunder, the SPV Lender is issuing notes in the same aggregate principal amount to the New Lenders and is securing those New Lender Notes with a first lien on all of SPV Lender’s right, title and interest in and to the Loan Documents and the Loan Document Obligations hereunder.
Once paid, the SPV Lender Expenses shall be fully earned and shall not be refundable under any circumstances.