ARS Loan definition

ARS Loan means any Indebtedness of Guarantor that is secured by the auction rate securities currently in Guarantor’s ▇▇▇▇▇ ▇▇▇▇▇▇ Account number 373 92356 and by the auction rate securities in Oeneus LLC’s ▇▇▇▇▇ ▇▇▇▇▇▇ Account number 373 92426 or any subsequent loan secured by substantially the same collateral.
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Examples of ARS Loan in a sentence

  • At all times, and measured on a monthly basis, a ratio of (i) Quick Assets to (ii) the sum of Current Liabilities plus the total of all amounts owing to Bank minus Deferred Revenue and minus the UBS ARS Loan of at least 0.70 to 1.0.

  • Each of ARS and Island Pacific surrenders its commitments under the ARS Loan Documents or the Island Pacific Loan Documents, as applicable, and specifically agrees that it has no further rights thereunder.

  • Notwithstanding anything else to the contrary in this Agreement, (a) allow Parent to maintain, establish or use, any account, other than the UBS ARS Account, at any UBS Entity, (b) allow Parent to locate, store or keep, any value in the UBS ARS Account in excess of the absolute minimum required by UBS to become or remain eligible for the UBS ARS Loan or (c) allow any of Borrowers’ Collateral to become subject to any lien arising out of the UBS ARS Loan.

  • Lender, and by their consent to this Amendment, ARS and Island Pacific, hereby agree that the ARS Loan Documents and the Island Pacific Loan Documents are each terminated as of the date hereof and shall no longer be of force or effect.

  • Reference is made to the credit facilities provided by Lender to ARS pursuant to the Business Loan Agreement dated as of August 24, 1999 between ARS and Lender and the related loan documents (collectively, the "ARS Loan Documents") and the credit facilities provided by Lender to Island Pacific pursuant to the Business Loan Agreement dated as of June 10, 1999 between Island Pacific and Lender and the related loan documents (collectively, the "Island Pacific Loan Documents").

Related to ARS Loan

  • MERS Loan Any Mortgage Loan registered on the MERS® System for which MERS appears as the mortgagee of record on the related Mortgage or on an assignment thereof.

  • PLUS Loan means a Loan that was made pursuant to the PLUS Program established under Section 428B of the Higher Education Act (or predecessor provisions).

  • U.S. Loan means an extension of credit by a Lender to the Specified U.S. Borrower under Article II in the form of a U.S. Revolving Credit Loan or a U.S. Swing Line Loan.

  • SLS Loan means a Loan which was made pursuant to the Supplemental Loans for Students Program established under Section 428A of the Higher Education Act (or predecessor provisions), including Loans referred to as ALAS Loans or Student PLUS Loans.

  • 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.