VTB Loan definition

VTB Loan means the principal amount of TWO MILLION DOLLARS ($2,000,000), which amount reflects the portion of the Purchase Price payable by the Purchaser pursuant to Section 3.1(d).
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VTB Loan means the promissory note or other debt instrument issued by the Borrower to the Vendor, in form and substance satisfactory to the Administrative Agent.
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VTB Loan means the senior secured first priority vendor take back promissory note in substantially the form attached hereto as Schedule “A”, to be entered into at the Time of Closing by the Purchaser and the Seller, as applicable.
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Examples of VTB Loan in a sentence

  • The VTB Loan bears interest at the rate of 5% per annum and the principal amount is payable in a lump sum payment due on December 31, 2024.

  • The Company issued an aggregate of 28,805,833 common shares and obtained a vendor take-back loan with a principal amount of US$3.25 million (the "VTB Loan").

  • There are no principal or interest payments on the VTB Loan for the first two years, after which point interest only is payable quarterly through the issuance of common shares of the Company at a price equal to the volume- weighted average closing price of the common shares for the 20 trading days prior to each quarterly interest payment date.

  • Advances under the Acquisition Credit Facility may be used by the Borrower to fund the Target Acquisition, payments on the VTB Loan permitted by the VTB Loan Subordination Agreement and other Acquisitions permitted by the Required Lenders.

  • Beginning on the Closing Date and for so long as any indebtedness remains outstanding under the VTB Loan, the Purchaser shall permit the Seller at the Seller’s expense, and at a time acceptable to the Purchaser, to visit and inspect the Purchaser’s properties; discuss the Purchaser’s affairs, finances, and accounts with its officers, during normal business hours as may be reasonably requested by the Seller but not greater than once in any three (3) month period.

  • Advances under the Revolving Credit Facility may be used by the Borrower for general corporate purposes and working capital requirements and for certainty, may not be used to fund payments on the VTB Loan or Acquisitions.

  • There are no principal or interest payments on the VTB Loan for the first two years, after which point interest only is payable quarterly through the issuance of common shares of the Company at a price equal to the volume-weighted average closing price of the common shares for the 20 trading days prior to each quarterly interest payment date.

  • The Company issued an aggregate of 28,805,840 common shares and obtained a vendor take-back loan with a principal amount of $3.25 million (the "VTB Loan").


More Definitions of VTB Loan

VTB Loan means the vendor-take-back loan agreement dated December 28, 2012 between the REIT and Huntingdon.
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Related to VTB Loan

  • 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;

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • 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.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • Term B Loan is defined in Section 2.2(a)(ii) hereof.

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

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

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

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Term A-2 Loan means an advance made by any Term A-2 Lender under the Term A-2 Facility.

  • 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”.

  • Term Loan A Note means a promissory note made by the Borrower in favor of a Term Loan A Lender evidencing the portion of the Term Loan A made by such Term Loan A Lender, substantially in the form of Exhibit C-1.

  • Term B-2 Loan means the Loan in the amount set forth in Section 2.01(a)(i).

  • Term B-1 Loan means a Loan made pursuant to Section 2.01(a).

  • 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.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Term C Loan is defined in Section 2.2(a)(iii) hereof.

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Term Loan C has the meaning set forth in Section 2.2(c).

  • Term Loan Note means a promissory note made by the Borrower in favor of a Term Loan Lender evidencing the portion of the Term Loans made by such Term Loan Lender, substantially in the form attached as Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.