2012 Loan definition

2012 Loan means the loan made to the Borrower by the DNRC pursuant to the Program in the maximum amount of the Committed Amount to provide funds to pay all or a portion of the costs of the 2012 Project, to fund a deposit to the Reserve Account, and to pay associated costs of issuing the Series 2012 Bond.

2012 Loan the loan agreement dated 26 September 2012 between Al Noor Golden and Standard Chartered Bank, HSBC Bank Middle East Limited and Mashreq Bank PSC for the aggregate amount of U.S.$136.2 million (split into a U.S. dollar tranche of U.S.$45.3 million, paying interest at the rate of LIBOR + 4.75% per annum, and a UAE dirham tranche of AED 333.0 million, paying interest at the rate of EIBOR + 4.00% per annum) and having a maturity date of 26 September 2016, in order to finance the payment of a U.S.$136.2 million dividend to Shareholders. The interest rate risk on the 2012 Loan is hedged to the extent of 60% of the loan amount;

Examples of 2012 Loan in a sentence

• The Bureau received 713 comments on the 2012 Loan Originator Compensation Proposal.

• Home Loan Application Status Disclosure, 2012 Loan ApplicationStatus Loans on 1-4 Family and Manufactured DwellingsSource: Home Mortgage Disclosure Act, Consumer Financial Protection Bureau, 2012.

• Although some commenters provided comments on all of the major provisions of the 2012 Loan Originator Compensation Proposal, most commenters focused on specific aspects of the proposal, as discussed in greater detail in the section-by-section analysis below.Many commenters addressed the proposed provisions regarding records that creditors and loan originator organizations would have been required to maintain to demonstrate compliance with the compensation-related provisions of the proposal.

• The 2012 Loan included a one-time origination and guaranty fees totaling $214,500 and an annual renewal fee payable in the amount of 0.25% of the USDA guaranteed portion of the outstanding principal balance as of December 31 of each year, beginning December 31, 2012.

• The proceeds of the 2012 Loan were used to acquire processing equipment and leasehold improvements at its Kona, Hawaii facility.

• The provisions of the 2012 Loan required the payment of interest only for the first 12 months of the term; thereafter, and until its maturity on August 14, 2032, the obligation fully amortizes over nineteen (19) years.

• The USDA has guaranteed 80% of all amounts owing under the 2012 Loan.

• Loan Covenants The Company’s Credit Agreement, 2015 Loan and 2012 Loan are subject to annual debt service and other financial covenants, including covenants which require the Company to meet key financial ratios and customary affirmative and negative covenants.

• The 2012 Loan is evidenced by promissory notes in the amounts of $2,250,000 and$3,250,000, the repayment of which is partially guaranteed under the provisions of a USDA Rural Development Guarantee.

• Althoughsome commenters provided comments on all of the major provisions of the 2012 Loan Originator Compensation Proposal, most commenters focused on specific aspects of the proposal, as discussed in greater detail in the section-by-section analysis below.Many commenters addressed theproposed provisions regarding records that creditors and loan originator organizations would have been required to maintain to demonstrate compliance with the compensation-related provisions of the proposal.