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Tower LLC Loan definition

Tower LLC Loan at any time, the loans from Tower LLC to the Company Borrower, equal to the entire amount invested in it and loaned to it, as applicable, by the Tower Borrower from the proceeds of the Loans or any Tower LLC Loan Indebtedness on economic terms and conditions identical to those applicable to the Loans or such Tower LLC Loan Indebtedness (except that the rate of interest payable thereon may (but shall not be required to) exceed (but by no more than 0.10% per annum) the rates of interest payable on the applicable Loans (excluding the Incremental Loans) or such Tower LLC Loan Indebtedness borrowed by the Tower Borrower); the obligations of the Company Borrower in respect of any Tower LLC Loan shall be subordinated pursuant to a Tower LLC Subordination Agreement to the Company Borrower’s obligations under the Loan Documents and no payment will be made by the Company Borrower in respect of any Tower LLC Loan unless, substantially contemporaneous therewith, an amount equal to the amount of such payment is used by the Tower Borrower to make a payment in respect of the Loans or such Tower LLC Loan Indebtedness (to the extent the payment in respect of such Tower LLC Loan Indebtedness is permitted under this Agreement), provided that, so long as no Default or Event of Default exists, the payment of interest to Tower LLC under a Tower LLC Loan Agreement may be at a rate of interest that exceeds (but by no more than 0.10% per annum) the rate of interest payable on the Loans or such Tower LLC Loan Indebtedness; provided, further, that during the continuance of any Default or Event of Default, such additional 0.10% (or lesser amount) per annum interest may continue to accrue and may be paid by the Company Borrower to Tower LLC when the condition resulting in the prohibition on payment thereof no longer exists. The additional 0.10% (or lesser amount) per annum interest payable on any Tower LLC Loan is referred to herein collectively as the “Tower LLC Spread.”
Sample 1
Tower LLC Loan shall have the meaning assigned to such term in the Term Loan Credit Agreement as in effect on the date hereofAmendment Effective Date with such changes as the parties thereto may agree from time to time in connection with the Incurrence of other third party Indebtedness permitted hereunder so long as any such changes provide for substantially equivalent treatment of any additional Tower LLC Loan in relation to such third-party Indebtedness.
Sample 1

Examples of Tower LLC Loan in a sentence

  • Make payments under the Tower LLC Loan Agreement at times and in amounts sufficient for the Tower Borrower to make all principal payments and prepayments of the Loans, as required under this Agreement.

  • Notwithstanding anything to the contrary contained herein or in any of the other Loan Documents, the Tower Borrower may be released from all of its rights and obligations under the Loan Documents pursuant to documentation reasonably satisfactory to the Administrative Agent and the Borrowers so long as in connection with such release, the Company Borrower is irrevocably released from all obligations with respect to the Tower LLC Loan (such release, the “Tower Borrower Release”).

Related to Tower LLC Loan

  • 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”.

  • 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;

  • Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Mezzanine Loan means a mezzanine loan secured by equity interests in the Mortgage Loan Borrower.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Mezzanine Loans means, collectively, the Loan, the Second Mezzanine Loan, the Third Mezzanine Loan, the Fourth Mezzanine Loan, the Fifth Mezzanine Loan, the Sixth Mezzanine Loan, the Seventh Mezzanine Loan, the Eighth Mezzanine Loan, the Ninth Mezzanine Loan and any New Mezzanine Loan.

  • 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.

  • Subsidiary Loan Agreement means the agreement to be entered into between the Borrower and ECTEL pursuant to Section 3.01(b) of this Agreement, as the same may be amended from time to time; and such term includes all schedules to the Subsidiary Loan Agreement;

  • Borrower LLC Agreement means the limited liability company agreement of the Borrower, dated on or about the Closing Date, as amended, modified, supplemented, restated or replaced from time to time in accordance with the terms thereof.

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

  • PPP Loan has the meaning set forth in Section 3.28.

  • Existing Loan means the loan identified on Exhibit H.

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement;

  • Refinancing Loan has the meaning specified in Section 2.15(b).

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • 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.

  • Daily SOFR Loan means a Loan that bears interest at a rate based on Daily SOFR.

  • Subsidiary Loan Agreements means, collectively, the agreements to be entered into between each Project Municipality and its Project Company or Project Companies, as the case may be, pursuant to paragraph 6 of Schedule 2 to the Project Agreement, as the same may be amended from time to time, and such term includes all schedules and supplements to said agreements; and a “Subsidiary Loan Agreement” means, individually, any of said Subsidiary Loan Agreements.

  • 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.

  • Funding Loan Agreement means the Funding Loan Agreement, of even date herewith, among the Governmental Lender, the Fiscal Agent and the Funding Lender, as it may from time to time be supplemented, modified or amended by one or more amendments or other instruments supplemental thereto entered into pursuant to the applicable provisions thereof.

  • General Partner Loan has the meaning provided in Section 5.2(c) hereof.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Borrower Loan Agreement means the Borrower Loan Agreement, of even date herewith, between the Governmental Lender and the Borrower, as supplemented, amended or replaced from time to time in accordance with its terms.

Most Referenced Clauses

Most Referenced Definitions