UBS Loans definition

UBS Loans means all sums borrowed by Borrower from UBS Bank USA pursuant to loan documents dated on or about August 21, 2008, in the original principal amount of $11,000,000 and as at the date hereof, totaling as of April 8, 2010, $19,152,467 in principal and accrued interest, and such additional amounts as Borrower can borrow from UBS Bank USA, such Indebtedness secured solely by Auction Rate Securities (UBS).
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Examples of UBS Loans in a sentence

  • The UBS Loans are secured only by the Auction Rate Securities (UBS), and the UBS Loan Documents do not require Borrower to provide or contemplate Borrower providing any additional collateral or proceeds from any other Borrower assets, except that the UBS Loan Documents require Borrower to repay the UBS Loans in the event that Borrower receives net proceeds exceeding $50,000,000 from an initial public offering of Borrower’s stock.

  • A default or breach occurs with respect to the UBS Loans or the UBS Loan Documents.

  • Borrower shall not make any payments of principal with respect to the UBS Loans other than payments from proceeds from the sale of Auction Rate Securities (UBS) and except that the Borrower may repay the UBS Loans in the event Borrower receives net proceeds exceeding $50,000,000 from an initial public offering of Borrower’s stock.

  • The Borrower shall not provide any collateral or other security for the UBS Loans other than the Auction Rate Securities (UBS).

  • Neither the UBS Loans nor the UBS Loan Documents shall be amended to increase the rate of interest or any fees, costs or expenses, or to accelerate the payment of the principal or interest or any other amount with respect to the UBS Loans or the UBS Loan Documents.

  • Neither the UBS Loans nor the UBS Loan Documents shall be amended to increase the rate of interest or any fees, costs or expenses, or to accelerate the payment of the principal or interest or any.

  • Borrower has provided Bank copies of all of the agreements, instruments and documents relating to the UBS Loans (the “UBS Loan Documents”).

  • Borrower has provided Bank copies of all of the agreements, instruments and documents relating to the UBS Loans, including Borrower’s acceptance on November 7, 2008 of an offer of Rights to sell the ARS to UBS during the period June 30, 2010 through July 2, 2012, at par value (the “UBS Loan Documents”).

Related to UBS Loans

  • Rabobank means Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland”, New York Branch.

  • KeyBank means KeyBank National Association and its successors.

  • Mizuho means Mizuho Bank, Ltd.

  • UBS AG, New York Branch shall have the meaning assigned to such term in the preamble to this Agreement.

  • Bank of America Fee Letter means the letter agreement, dated as of September 28, 2018 between the Borrower and Bank of America.