30+ Loans definition
30+ Loans means loans with a principal or interest payment that is more than 30 days past due; provided, however, that “30+ Loans” shall not include Administrative Delinquencies.
Examples of 30+ Loans in a sentence
The Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation more than 30 Loans shall be outstanding.
Unless the Facility Agent agrees, a Request may not be given if, as a result, there would be more than 30 Loans outstanding.
Unless the Facility Agent agrees, a Request may not be given if, as a result of making the Utilisation requested, there would be more than 15 Loans per General Term Loan Facility (provided that until the date 60 days after the Closing Date, there may be 30 Loans per Term Loan Facility), 10 Loans per Restricted Facility, 20 Revolving Credit Loans or 20 Documentary Credits or 20 Restructuring Loans outstanding.