Cascade Loan definition

Cascade Loan means that certain loan made by Lender and Cascade Investments, LLC to certain affiliates of Borrower and secured by a first lien on the Secondary Properties.
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Examples of Cascade Loan in a sentence

  • For the avoidance of doubt, any Lien on the Secondary Properties securing repayment of Note Component A-2 and Note B shall be subject and subordinate to the Cascade Loan.

  • The Company shall not at any time permit Cascade or Intermountain to secure any Indebtedness outstanding under the Cascade Loan Agreement or the Intermountain Loan Agreement, respectively, in any manner by any Lien on any Property.

  • Upon the receipt by Cascade Crossing, LLC of a firm commitment from a commercial bank to provide a construction loan on terms approved by Buyer, such approval not to be unreasonably withheld or delayed, and which shall be granted if the terms are commercially reasonable for loans of this type, including recourse to Buyer (the "CASCADE LOAN COMMITMENT"), the obligation of Seller to provide a Construction Loan for the Cascade Project shall be reduced by the amount of the Cascade Loan Commitment.

  • On the date on which the Cascade Loan is repaid in full, the Property List shall be updated to (i) include only the Secondary Properties that remain subject to a second lien mortgage in favor Lender as of such date and (ii) recalculate the Allocated Loan Amounts for the Properties remaining subject to the Lien of the Mortgages as of such date, in each case calculated in a manner consistent with the Allocated Loan Amounts included in the Property List as of the Restatement Effective Date.

  • The Loan must be repaid in connection with each release of a Property pursuant to Section 1.6(a), in the amount required thereby; provided, however, that notwithstanding the foregoing, no portion of the Loan shall be repaid in connection with the sale of any Secondary Property, unless and until the Cascade Loan shall have been repaid in full.

  • The Company shall not at any time permit Cascade to secure any Indebtedness outstanding under the Cascade Loan Agreement in any manner by any Lien on any Property.

Related to Cascade Loan

  • Cov-Lite Loan A Collateral Obligation the Underlying Documents for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Documents); provided that, notwithstanding the foregoing, a Collateral Obligation shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Obligation) not to be a Cov-Lite Loan if the Underlying Documents for such Collateral Obligation contain a cross-default or cross acceleration provision to, or such Collateral Obligation is pari passu with, another loan, debt obligation or credit facility of the underlying Obligor that contains one or more Maintenance Covenants.

  • 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.

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

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the 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.