Traditional Bank Loan definition

Traditional Bank Loan is defined herein as a secured loan or line of credit that does not include any type of (a) factoring, (b) “asset-based lending,” which is based on a percentage of the outstanding principal balance of acceptable receivables or the value of inventory, or (c) similar financing as those financing arrangements are commonly known in the commercial finance industry. A secured loan or line of credit that does not actually include the types of financing described in the foregoing clauses (a)-(c) shall constitute a Traditional Bank Loan notwithstanding that the provider of such Traditional Bank Loan may offer such types of financing. Determining whether a loan qualifies as a Traditional Bank Loan under this Agreement is within Allied’s sole and exclusive discretion. All covenants, agreements, undertakings, representations, warranties, and obligations related to any transaction (including without limitation sales of Accounts) entered into or made pursuant hereto, and all security interests granted herein or arising hereunder and rights of Allied to enforce this Agreement and the security interests granted herein (including without limitation those arising under paragraphs 4, 5, 11-16 and 19 hereof) shall survive expiration of the Term or any termination of this Agreement.
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Examples of Traditional Bank Loan in a sentence

  • The Bureau Should Ensure that Banks May Continue Offering Traditional Bank Loan Products The Bureau’s expansive definition of a “covered loan” sweeps in a number of wealth management products, which should not be covered by a rule intended to regulate short-term, small dollar loans.13 These include the following:• Wealth management loans, which provide customers with short-term liquidity and may have a term of 45 days or less, or have a large, “balloon” payment due at maturity.

  • Determining whether a loan qualifies as a Traditional Bank Loan under this Agreement is within Allied’s sole and exclusive discretion.

  • H., "Islamic Bank Murabaha and Traditional Bank Loan: The Same or Not?", İstanbul Conference of Economics and Finance, Istanbul/Turkey, May.

  • A secured loan or line of credit that does not actually include the types of financing described in the foregoing clauses (a)-(c) shall constitute a Traditional Bank Loan notwithstanding that the provider of such Traditional Bank Loan may offer such types of financing.

Related to Traditional Bank Loan

  • National bank means a national banking association

  • Additional Bank has the meaning set forth in Section 2.17(b).

  • Bank Loan means a debt obligation, other than a Security or a participation in such debt obligation, customarily referred to by investors as a “bank loan”.

  • Second Lien Bank Loan means a Bank Loan that is entitled to the benefit of a second lien and second priority perfected security interest on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • First Lien Bank Loan means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security interest on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Commercial Bank means a bank, defined as a scheduled bank under section 2(e) of the Reserve Bank of India Act, 1934.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Local Banking Day means a day (other than a Saturday or Sunday) on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place of presentation of the relevant Instrument or, as the case may be, Coupon.

  • Mobile Banking Service means the EB Services which we enable you to access via the Mobile Banking App or a web browser designed for use on a Mobile Device; and

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Bank Levy means the bank levy which is imposed under section 73 of, and schedule 19 to, the Finance Xxx 0000 (the “UK Bank Levy”) and any levy or Tax of an equivalent nature imposed in any jurisdiction in a similar context or for a similar reason to that in and/or which the UK Bank Levy has been imposed by reference to the equity and liability of a financial institution or other person carrying out financial transactions.

  • Qualified United States financial institution means an institution that:

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • Approved Commercial Bank means a commercial bank with a consolidated combined capital and surplus of at least $5,000,000,000.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Performing Second Lien Bank Loans means Second Lien Bank Loans which are Performing.

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • Approved Financial Institution means any bank approved by Exchange in accordance with its credit review procedures or policies;

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • ABN AMRO means ABN AMRO Bank N.V.