Alternative Lender definition

Alternative Lender means any organization exempt from taxation pursuant to § 501(c)(3) of the

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Alternative Lender is defined in Section 2.11. “Anti-Money Laundering and Anti-Terrorism Laws” means any law relating to terrorism, economic sanctions or money laundering, including, without limitation, (a) the Money Laundering Control Act of 1986 (i.e., 18 U.S.C. §§ 1956 and 1957), (b) the Bank Secrecy Act of 1970 (31 U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959), and the implementing regulations promulgated thereunder, (c) the USA PATRIOT Act and the implementing regulations promulgated thereunder, (d) the laws, regulations and Executive Orders administered by the United States Department of the Treasury's Office of Foreign Assets Control, (e) any law prohibiting or directed against terrorist activities or the financing or support of terrorist activities (e.g., 18 U.S.C. §§ 2339A and 2339B), and (f) any similar laws enacted in the United States or any other jurisdictions in which the parties to this Agreement operate, as any of the foregoing laws have been, or shall hereafter be, amended, renewed, extended, or replaced and all other present and future legal requirements of any Governmental Authority governing, addressing, relating to, or attempting to eliminate, terrorist acts and acts of war and any regulations promulgated pursuant thereto. “Authorized Signer” is any individual listed in Borrower’s Borrowing Resolutions who is authorized to execute this Agreement and the other Loan Documents, including requesting and executing any Credit Extension, on behalf of Borrower. “Available Draw Amount” is the dollar amount Borrower can draw upon, which is the lesser of (A) the Total Commitment minus the outstanding principal balance of any Credit Extensions or (B) the Borrowing Base minus the outstanding principal amount and accrued interest of all outstanding Credit Extensions. “Borrower” is defined in the preamble hereof. “Borrower’s Board” is ▇▇▇▇▇▇▇▇’s board of directors.

Alternative Lender means such third party lender, other than Congress, chosen by the Debtors to provide the Exit Financing Facility.

Examples of Alternative Lender in a sentence

The Existing Lender shall use all reasonable endeavours to comply with such request, provided that the Existing Lender shall not be obliged to comply with such request unless the Alternative Lender is prepared to have the relevant rights and/or obligations assigned or transferred to it on exactly the same (or better) terms (including price) as the original New Lender was willing to agree to.
A transaction shall be considered a Completed Transaction upon the transfer of funds by ▇▇▇▇▇▇, an affiliate of Lender, or an Alternative Lender, to the Referred Party, as evidenced by an executed HUD-1 Settlement Statement.
For the avoidance of doubt, a loss may still qualify as a Short Refinance Loss if the refinance is originated by an Alternative Lender.
For the avoidance of doubt, no Alternative Lender Assumed CAR Commitment shall be capable of utilisation and shall be of no effect other than for the purposes of determining an Alternative Lender’s Alternative Lender Interim CAR Facility Loan Participation pursuant to the operation of Clause 2.5 (Alternative Lenders).
On the Closing Date, the Commitment of each Facility Group and each Alternative Lender is $250,000,000, as such Commitment amount may be adjusted pursuant to Section 2.03 hereof.
If Meritage does not deliver notice of Meritage’s disapproval of the Alternative Lender within ten (10) days after Buyer’s identification of the Alternative Lender, Meritage shall be deemed to have approved the Alternative Lender.
If, prior to the expiration of the “Financing Contingency Period” (defined in Section 7 below), Buyer indicates to Meritage in writing that Buyer does not intend to obtain a loan from Preferred Lender, but rather intends to use an “Alternative Lender” (as identified in Section 4 below), the effectiveness of the Contract shall be conditioned upon Meritage’s approval of such Alternative Lender.
A transaction shall be considered a Completed Transaction upon the transfer of funds by Lender, an affiliate of Lender, or an Alternative Lender, to the Referred Party, as evidenced by an executed HUD-1 Settlement Statement.
CAR Commitment means, in relation to each Alternative Lender, the amount set opposite its name in Schedule 12 (The Alternative Lenders), to the extent not cancelled, reduced or transferred by it under this Agreement.
All payments in respect of utilisations of the facility denominated in GBP shall be made to such account(s) as may from time to time be notified by us to you for such purposes for the account of either (i) the lending office in question or (ii) CEP (where the provisions of Clause 15 (Alternative Lender) below apply) provided that any payment to be made to any assignee (other than CEP) shall be made to such account as may be notified to you by us or such assignee.

More Definitions of Alternative Lender

Alternative Lender means any Lender that elects not to be secured directly or indirectly by any Margin Stock Collateral by notice to the Administrative Agent to such effect, but shall be in all other respects and for all other purposes, except where specifically provided otherwise, a Lender.

Alternative Lender. (as identified in Section 4 below), the effectiveness of the Contract shall be conditioned upon Meritage’s approval of such Alternative Lender. If Meritage, in its sole discretion, disapproves of the Alternative Lender, Meritage will notify Buyer of such disapproval within ten (10) days after Buyer’s identification of the Alternative Lender, whereupon either party may cancel the Contract in writing within five (5) days thereafter, in which event any ▇▇▇▇▇▇▇ Money previously paid by Buyer shall be returned to Buyer and neither party shall have any further rights, obligations, or liabilities under the Contract (except for those that specifically survive such cancellation). If Meritage does not deliver notice of Meritage’s disapproval of the Alternative Lender within ten (10) days after Buyer’s identification of the Alternative Lender, Meritage shall be deemed to have approved the Alternative Lender. Notwithstanding the foregoing, if Meritage approves or is deemed to have approved an Alternative Lender designated by Buyer prior to the expiration of the Financing Contingency Period in accordance with the preceding sentences, Meritage shall nonetheless have the right at any time thereafter to refuse to deal with such Alternative Lender if, in Meritage’s sole and absolute discretion, the procedures and/or documents required by such Alternative Lender are not satisfactory to Meritage, and in such event Meritage may cancel the Contract, whereupon any ▇▇▇▇▇▇▇ Money previously paid by Buyer shall be returned to Buyer and neither party shall have any further rights, obligations, or liabilities under the Contract (except for those that specifically survive such cancellation). Buyer acknowledges and agrees that, following the expiration of the Financing Contingency Period, Buyer will not be allowed to change the designation of Buyer’s Lender without Meritage’s prior written consent (which consent may be withheld by Meritage in its sole discretion). Consequently, if Meritage (in its sole discretion) fails to provide such written consent, then: (i) such failure to consent shall constitute Meritage’s disapproval of Buyer’s attempted change of Buyer’s Lender designation; and (ii) consistent with the last sentence of Section 5 below, Buyer shall be deemed to be in default under the Contract and Meritage may immediately exercise all rights and remedies under the Contract.