Taxable Term Loan definition
Examples of Taxable Term Loan in a sentence
Each Taxable Term Loan made by the Bank and all payments and prepayments on the account of the principal and interest of each Taxable Term Loan shall be shall be recorded by the Bank, in accordance with its usual practices, pursuant to entries in an account or accounts evidencing the indebtedness resulting from the Taxable Term Loan made from time to time hereunder and the amounts of principal and interest payable and paid from time to time hereunder.
Any Revolving Loan not converted to the Tax-Exempt Term Loan or Taxable Term Loan, as applicable, shall be due and payable on the Commitment Termination Date and shall bear interest at the Default Rate.
The Department shall have the option to convert (a) the unpaid principal amount of any Taxable Loan to a Taxable Term Loan, (b) the unpaid principal amount of any Governmental Loan to a Tax-Exempt (Governmental) Term Loan, and (c) the unpaid principal amount of any Private Activity Loan to a Tax-Exempt (Private Activity) Term Loan, in each case on the Revolving Loan Maturity Date, if the conditions set forth in Section 3.07 hereof are satisfied on the Revolving Loan Maturity Date.
Each Taxable Term Loan made by the Lender and all payments and prepayments on the account of the principal and interest of each Taxable Term Loan shall be recorded by the Lender on the schedule attached to the Taxable Note; provided, however, that the failure of the Lender to make any such endorsement or any error therein shall not affect the obligations of the Authority hereunder or under the Taxable Note in respect of unpaid principal and interest on each Taxable Term Loan.
A Taxable Term Loan shall bear interest from the Conversion Date to the date such Taxable Term Loan is paid in full therefor at a rate per annum equal to the Taxable Bank Rate.
Such prepayment is in accordance with the Financing Obligation Documents applicable to the Taxable Term Loan.
Further, any Modification of any provision of this Agreement or any other Security Document, or any other direction to the Collateral Agent which would otherwise require Required Secured Creditor consent, in any such case that would have a material and adverse effect on the rights of (i) any Swap Bank shall require the written consent of such Swap Bank and (ii) any Secured Party party to the Taxable Term Loan shall require the written consent of such Secured Party.
The Taxable Term Loan Administrative Agent is entering into this Agreement and the applicable other Security Documents solely in its capacity as the administrative agent for the lenders of the Taxable Term Loan.
True and correct copies of (a) the Financing Documents required to be delivered on the Closing Date for the DRP 4 Series 2025 Bonds, and (b) the Financing Documents required to be delivered on the Closing Date for the Taxable Term Loan, have been furnished in accordance with this Section 1.01.
The Tax-Exempt Revolving Loans and the Tax-Exempt Term Loan shall be evidenced by the Tax-Exempt Note to be issued on the Closing Date, initially registered in the name of, and payable to, the Bank and otherwise duly completed and the Taxable Revolving Loans and the Taxable Term Loan shall be evidenced the Taxable Note to be issued on the Closing Date, initially registered in the name of, and payable to, the Bank and otherwise duly completed.