DDTL Loan definition

DDTL Loan means a DDTL Draw Loan or the DDTL Term Loan. “DDTL Maximum Draw Amount” means Fifty Million Dollars ($50,000,000), as such amount may be decreased pursuant to Section 2.10(a) hereof. “DDTL Note” means a DDTL Note, in the form of the attached Exhibit J, executed and delivered pursuant to Section 2.5(d) hereof. 20
Sample 1

Examples of DDTL Loan in a sentence

  • Upon the request of a DDTL Lender, to evidence the obligation of the Borrowers to repay the portion of the DDTL Loan made by such DDTL Lender and to pay interest thereon, the Borrowers shall execute a DDTL Note, payable to the order of such DDTL Lender in the principal amount of its Applicable Commitment Percentage of the DDTL Commitment; provided that the failure of such DDTL Lender to request a DDTL Note shall in no way detract from the Borrowers’ obligations to such DDTL Lender hereunder.

  • Upon the reasonable request of the Administrative Agent, each Credit Party will promptly cure, or cause to be cured, defects in the creation and issuance of any Revolving Loan Notes and DDTL Loan Notes and the execution and delivery of the Loan Documents (including this Agreement), resulting from any act or failure to act by any Credit Party or any employee or officer thereof.

  • Prepayment of the principal amount of any DDTL Loan may be made only as provided in the Credit Agreement.

  • The outstanding principal amount of each DDTL Loan shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as the DDTL Loan is a Base Rate Loan, the Derived Base Rate, (ii) during such periods as the DDTL Loan is a Term SOFR Loan, the Derived Term SOFR Rate, and (iii) during such periods as the DDTL Loan is a Daily Simple SOFR Loan, the Derived Daily Simple SOFR Rate.

  • All DDTL Loan prepayments shall be applied as directed by the Borrower at the time of such prepayment (or, in the absence of such direction, in the direct order of maturity).

  • No Credit Party is required to register under the provisions of the Investment Company Act of 1940, as amended, and neither the entering into or performance by the Credit Parties of this Agreement nor the issuance of any Revolving Loan Notes or DDTL Loan Notes violates any provision of such Act or requires any consent, approval, or authorization of, or registration with, any governmental or public body or authority pursuant to any of the provisions of such Act.

  • Section 2.8(a)(i) of the Credit Agreement is hereby amended to delete the last sentence therefrom and to insert in place thereof the following: Each voluntary prepayment of the Term Loan A, the DDTL Loan or any Additional Term Loan Facility shall be applied pro rata (based on the original scheduled payment amounts) to the remaining principal installments thereof.

  • There shall be a dollar for dollar reduction of the Available DDTL Commitment equal to the amount of each DDTL Loan.

Related to DDTL Loan

  • 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.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • 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”.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • PPP Loan means (i) any covered loan under paragraph (36) of Section 7(a) of the Small Business Act (15 U.S.C. 636(a)), as added by Section 1102 of the CARES Act, or (ii) any loan that is an extension or expansion of, or is similar to, any covered loan described in clause (i).

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Initial Loan is defined in Section 2.1.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Term Loan as defined in Section 2.1.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • Tranche C Loan means an extension of credit by a Lender to TFA under Article II. Except as provided in Section 2.16(c), Tranche C Loans shall be denominated in Australian Dollars.

  • Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • CD Loan means a Committed Loan to be made by a Bank as a CD Loan in accordance with the applicable Notice of Committed Borrowing.

  • PIK Loan means a Loan to an Obligor, which provides for a portion of the interest that accrues thereon to be added to the principal amount of such Loan for some period of the time prior to such Loan requiring the cash payment of interest on a monthly or quarterly basis.