A&D Loan definition

A&D Loan means the revolving acquisition, development and construction loan made by Lender to Borrower's Affiliates in the maximum principal amount of $150,000,000 pursuant to the terms and conditions of the A&D Loan Agreement.
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A&D Loan shall be that certain secured, advertising advance loan as described in the Contribution Agreement made and entered into by and between Member BCLLC and Member Bluegreen as of the Effective Date.
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A&D Loan. The Partnership has arranged a mortgage facility with AmSouth Bank in the maximum principal amount of $7,500,000 (the "AMSOUTH LOAN"). The AmSouth Loan is to be advanced in stages to assist in the financing of development costs of the Partnership Property. The Limited Partners comprising the Great Gulf Group together with certain of their respective affiliated corporations (collectively, the "GREAT GULF AFFILIATES") delivered their guarantees (including postponements of claim) of the AmSouth Loan to AmSouth, true copies of which guarantees have been delivered to the Limited Partners comprising the Allan Group (which guarantees as the same may be amended, modified, ▇▇▇plemented or restated from time to time are herein collectively referred to as the "AMSOUTH GUARANTEES"). Each of the Allan Group and the Great Gulf Group will use their best efforts t▇ ▇▇▇se AmSouth to "sever" the AmSouth Loan including the existing security granted in connection therewith and to replace the existing guarantees (referred to above), with guarantees on a several basis as between the Great Gulf Group and the Allan Group on the basis that the Great Gulf Group and the Allan G▇▇▇▇ will each provide guarantees acceptable to AmSouth of ▇▇▇ ▇equisite guaranteed amount of the AmSouth Loan, in the proportion which the total of the Percentage Interests held by the Limited Partners comprising such Group is of the total Percentage Interests of the Limited Partners. Until such time as AmSouth agrees to restructure the AmSouth Loan and the AmSouth Guarantees, as contemplated above, each of the Limited Partners shall: (a) as between and amongst each other, be liable for the obligations and liabilities arising under any of the AmSouth Guarantees entered into by the Limited Partners comprising the Great Gulf Group, in accordance with the provisions of Section 18.05 as if each of the Limited Partners were jointly and severally liable with each other under each of the said AmSouth Guarantees; and (b) indemnify each of the Great Gulf Affiliates for the obligations and liabilities arising under any of the AmSouth Guarantees entered into by the Great Gulf Affiliates on the same basis as provided for in Section 18.05, as if each of the Limited Partners were jointly and severally liable with each other under each of the said AmSouth Guarantees and each of the Limited Partners will, substantially contemporaneously with its execution and delivery of this Agreement, execute and deliver a written indemnit...
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Examples of A&D Loan in a sentence

  • To the extent that A&D Loan proceeds disbursed by Lender pursuant to the Allocations set forth in the A&D Budget are insufficient to pay all costs required for the acquisition, development, construction and completion of the A&D Improvements for the Project, Borrower shall pay such excess costs for the A&D Improvements with funds derived from sources other than the specified Project Loan (i.e., Borrower’s own funds or Borrower’s Deposit, as applicable).

  • No Advances shall be made to finance the construction of the A&D Improvements after the A&D Loan Maturity Date.

  • If for any reason the unpaid principal balance of the A&D Loan exceeds the lesser of the A&D Loan Amount or the Maximum A&D Allowed Advance, then Borrower shall, upon Lender’s demand, immediately reduce the unpaid principal balance of the A&D Loan, or deposit with Lender pursuant to Section 4.6 below sufficient sums to reduce the unpaid principal balance of the A&D Loan to an amount at or below said maximum amount.

  • Notwithstanding the Borrower’s compliance with all of the terms of this Agreement, the Lender may establish requirements and loan terms in connection with such A&D Loan and may decline to make any such A&D Loan during term of this Agreement.

  • Lender shall not be obligated to advance any A&D Loan proceeds after the A&D Loan Funding Termination Date.

  • Lender shall not be obligated to make an Advance under the A&D Loan for an Allocation set forth in the A&D Budget to the extent that the amount of the Advance for such Allocation would, when added to all prior Advances for such Allocation, exceed the total of such Allocation as set forth in the A&D Budget.

  • Lender shall not be obligated to advance A&D Loan proceeds or Construction Line proceeds if (i) an Event of Default exists hereunder; (ii) Lender has made demand for any payment under the Note which remains unpaid; or (iii) any conditions precedent to such advance set forth in this Loan Agreement has not been satisfied in Lender’s judgment.

  • No Advance (whether interim or final) under the A&D Loan shall be made unless all conditions precedent to such Advance have been satisfied.

  • Borrower may at its option prepay the principal amount of the A&D Loan outstanding hereunder at any time in whole or from time to time in part without premium or penalty, upon giving Lender prior notice of the aggregate principal amount to be prepaid, together with accrued interest thereon to the date of prepayment; provided, however, that any prepayment made pursuant to Section 3.5.2 shall not constitute a prepayment pursuant to this Section 3.5.1.

  • All sums due and owing under each Project Loan shall be paid in full on or prior to the A&D Loan Maturity Date.


More Definitions of A&D Loan

A&D Loan means a loan from Lender to Borrower to finance a specific A&D Project under the A&D Subfacility. Each A&D Loan made under the A&D Subfacility shall be a non-revolving loan, and any sums borrowed and repaid under each A&D Loan shall not be re-advanced by Lender for the subject A&D Project.
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