2015 Loan definition

2015 Loan means that certain term loan from the Lender to the Borrower in the original principal amount of Twenty-Five Million Dollars ($25,000,000.00), as subsequently amended and restated, originally made on December 22, 2015, and amended and restated on June 1, 2017 and on November 7, 2019.
Sample 1
2015 Loan means any Term Loan made by any Lender to the Borrower under Section 2.01(b).
Sample 1
2015 Loan means a Loan made by a 2015 Bank.
Sample 1

Examples of 2015 Loan in a sentence

  • The Company fails to make any payment to Fame Dragon which is due and payable under the provisions of the 2015 Loan Agreement; b.

  • The proceeds of the 2015 Loan were used to pay off a $500,000 short term note payable that matured on September 18, 2015, and to acquire new processing equipment and leasehold improvements at the Company’s Kona, Hawaii facility.

  • The Loan Agreement does not contain most of the covenants the 2015 Loan contained.The key terms of the Intercompany Loan Agreement are:a.

  • BDO’s procedures relating to Smith’s 2015 Loan valuation were deficient in terms of both the steps that BDO took and BDO’s response to the results.

  • Additionally, the 2015 Loan Agreement allows for the unlimited payment of dividends and repurchases of stock, subject to the absence of events of default and maintenance of a fixed charge coverage ratio and minimum level of availability.

  • To evaluate Smith’s 2015 Loan valuation, BDO developed its own Loan valuation.

  • The 2015 Loan Agreement includes, among other things, covenants that require the Company to maintain a specified minimum fixed charge coverage ratio, unless certain availability levels exist.

  • Availability under the 2015 Loan Agreement is limited to a borrowing base equal to 85% of the value of eligible accounts receivable, plus the lesser of 70% of the value of eligible inventory or 90% of the net orderly liquidation value percentage of the value of eligible inventory, in each case less certain reserves.

  • In the 2015 Audit, BDO failed to comply with GAAS in its retrospective review of Smith’s 2014 Loan valuation and in its audit of Smith’s 2015 Loan valuation.

  • The USDA has guaranteed 80% of all amounts owing under the 2015 Loan.


More Definitions of 2015 Loan

2015 Loan means the Loan made to the City by the DNRC pursuant to the Program in the maximum amount of the 2015 Committed Amount to provide funds to pay all or a portion of the costs of the 2015 Project, to fund a deposit to the Reserve Account, and to pay associated costs of issuing the Series 2015 Bond.
Sample 1

Related to 2015 Loan

  • 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.

  • Refinance Loan Any Mortgage Loan the proceeds of which are used to refinance an Original Mortgage Loan.

  • 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.

  • PIK Loan has the meaning set forth in Section 3.02(d).

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • Term Loan as defined in Section 2.1.

  • SOFR Loan means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.

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

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

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

  • 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.

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

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

  • 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.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

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

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Supplemental Loan means any loan that is subordinate to the Senior Indebtedness.

  • Initial Loan is defined in Section 2.1.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Original Loan shall have the meaning set forth in the recitals hereto.

  • Term Loan Advances are each defined in Section 2.1.1(a).