Delayed Draw Loan definition
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.
Delayed Draw Loan is defined in Section 2.1.
Delayed Draw Loan means a Loan made by the Delayed Draw Lenders to Borrower pursuant to Section 2.01.
Examples of Delayed Draw Loan in a sentence
Upon initial acquisition of any such obligations, funds deposited in the Reinvesting Revolver Funding Account in respect of any Delayed Draw Loan or Revolving Loan shall be treated as part of the acquisition price therefor.
Funds shall be deposited in the Reinvesting Revolver Funding Account upon the acquisition of any Delayed Draw Loan or Revolving Loan.
Except with respect to the funding commitment assumed by the Buyer with respect to any Delayed Draw Loan or Revolving Loan, no obligation or liability to any Obligor under any of the Collateral Obligations is intended to be assumed by the Buyer, the Trustee or any of the other the Secured Parties under or as a result of this Agreement and the transactions contemplated hereby.
More Definitions of Delayed Draw Loan
Delayed Draw Loan. Any Loan with respect to which the Issuer is obligated to make or otherwise fund future term-loan advances to a borrower, but such future term-loan advances may not be paid back and reborrowed.
Delayed Draw Loan means a loan with respect to which the Issuer may be obligated to make or otherwise fund future term-loan advances to a borrower, but such future term-loan advances may not be paid back and reborrowed; provided that for purposes of the Portfolio Criteria, the principal balance of a Delayed-Draw Loan, as of any date of determination, refers to the sum of (i) the funded portion of such Delayed-Draw Loan as of such date and (ii) the unfunded portion of such Delayed-Draw Loan as of such date.
Delayed Draw Loan has the meaning given to such term in the Reference Obligation Indenture.
Delayed Draw Loan means the term loan made by the Lenders on the Delayed Draw Date in an aggregate principal amount not to exceed $15,000,000.
Delayed Draw Loan shall have the meaning assigned to such term in Section 2.01.
Delayed Draw Loan. A loan with respect to which the Issuer is obligated to make or otherwise fund future term-loan advances to a borrower, but such future term-loan advances may not be paid back and reborrowed; provided, that for purposes of the Portfolio Criteria, the principal balance of a Delayed-Draw Loan, as of any date of determination, refers to the sum of (i) the funded portion of such Delayed-Draw Loan as of such date and (ii) the unfunded portion of such Delayed-Draw Loan as of such date.
Delayed Draw Loan means, as of any date, a term loan that has not yet been fully funded.