Daily Loan definition

Daily Loan means the loan evidenced by that Third Amended and Restated 10% Subordinated Convertible Promissory Note dated as of the Restatement Closing Date, made by i3 Verticals payable to the order of ▇▇▇▇▇▇▇ ▇. Daily and Collie F. Daily in the principal amount of $1,000,000.
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Examples of Daily Loan in a sentence

  • So long as no Default or Event of Default exists, (i) the Borrower may on any Business Day, with respect to any LIBOR Loan (other than a LIBOR Daily Loan), elect to maintain such LIBOR Loan or any portion thereof as a LIBOR Loan by selecting a new Interest Period for such LIBOR Loan and (ii) any LIBOR Daily Loans shall automatically continue as a LIBOR Daily Loan until such time as the Borrower converts such LIBOR Daily Loan to a different Type in accordance with Section 2.10.

  • In addition to the Basic Loan Payment Borrower shall pay Daily Loan Payment due as indicated in this Loan Agreement, or on any Loan Schedule, or any Rider hereto or thereto.

  • Any Conversion of a LIBOR Loan (other than a LIBOR Daily Loan) into a Base Rate Loan shall be made on, and only on, the last day of an Interest Period for such LIBOR Loan.

  • Each Floor Plan Lender’s share of interest accruing each day on the Floor Plan Loans shall be based on such Floor Plan Lender’s Daily Loan Balance.

  • A Daily Loan Payment shall be due during the Supplemental Loan Term on all Advances made by Lender as requested pursuant to any Request for Advance and shall accrue from the Advance Date with respect to any item of Collateral at the Daily Loan Payment set forth in the applicable Request for Advance multiplied by the number of days from (and including) the Advance Date to (but not including) the Commencement Date and shall be due and payable on the Commencement Date.

  • Any prepayment of a Eurocurrency Rate Loan or LIBOR Daily Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.

  • There may be no more than four (4) different Interest Periods for LIBOR Loans outstanding at the same time during any time when there are no LIBOR Daily Loans that are outstanding (or three (3) different Interest Periods during any time when there is a LIBOR Daily Loan that is outstanding).

  • Such Lender’s share of the Unused Line Fee payable under Section 3 of the Schedule for a month shall be an amount equal to (a)(i) such Lender’s Pro Rata Share of the Maximum Credit Limit during such month, less (ii) such Lender’s average Daily Loan Balance of the Loans for such month, multiplied by (b) the percentage specified regarding the Unused Line Fee in Section 3 of the Schedule.

  • Borrower agrees that pursuant to the terms of the Loan, the Daily Loan Payment is $ which will be multiplied by the number of days from (and including) the Advance Date to (but not including) the Commencement Date of the Loan Schedule and shall be due and payable on the Commencement Date and such Daily Loan Payment is due without right of deduction, offset, abatement, defense, counterclaim or demand whatsoever.

  • Borrower agrees that pursuant to the terms of the Loan, the Daily Loan Payment is $ in total which equals $ multiplied by the number of days from (and including) the Advance Date to (but not including) the Commencement Date of the Loan Schedule and shall be due and payable on the Advance Date and such Daily Loan Payment is due without right of deduction, offset, abatement, defense, counterclaim or demand whatsoever.