Concurrent Loan definition
Concurrent Loan means a Loan that the Borrower has extended or extends for the cost of an eligible electrification or telephone purpose under the RE Act, concurrently with an insured loan made by the Secretary, as provided in Section 307 of the RE Act.
Concurrent Loan. The loan in the principal amount of $9,802,500.00 being made by Lender to Emeritol Stonecreek Lodge LLC, a Delaware limited liability company and Emeritol Meadowbrook LLC, a Delaware limited liability company concurrently herewith.
Concurrent Loan. The loan in the principal amount of $17,595,000.00 being made by Lender to Emeritol ▇▇▇▇▇▇ Oaks LLC, a Delaware limited liability company, Emeritol ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ LLC, a Delaware limited liability company, concurrently herewith.
Examples of Concurrent Loan in a sentence
The Concurrent Loan shall have closed concurrently with the closing of the Loan hereunder.
More Definitions of Concurrent Loan
Concurrent Loan means a Loan that the Borrower has extended or extends for the cost of an eligible electrification or telephone purpose under the RE Act, concurrently with an insured loan made by the Secretary, as provided in Section 307 of the RE Act. "Consolidated Subsidiary" means at any date any Subsidiary and any other entity the accounts of which would be combined or consolidated with those of the Borrower in its combined or consolidated financial statements if such statements were prepared as of such date. "Eligible Loan" shall mean all or part of any Loan that the Borrower has made for any electrification or telephone purpose eligible under the RE Act, to the extent the Loan is not used directly or indirectly to fund projects for the generation of electricity. "Event of Default" shall have the meaning given to that term in Section 10.1. "FFB" shall have the meaning given to that term in Recital 1. A "Financial Expert Trigger Event" shall exist at any time when the Borrower has failed to comply with the covenant contained in Section 9.9 hereof. "Financial Statements", in respect of a Fiscal Year, shall mean the consolidated financial statements (including footnotes) of the Borrower for that Fiscal Year as audited by independent certified public accountants appointed by the Borrower. "Fiscal Year" shall mean the fiscal year of the Borrower, as such may be changed from time to time, which at the date hereof commences on June 1 of each calendar year and ends on May 31 of the following calendar year. "Government" shall have the meaning given to that term in the Preamble. "Guarantee" shall mean the guarantee to be executed by the Secretary, in the form attached to the Bond. "Guarantee Fee" shall have the meaning given to that term in Section 4.1.