DLOC Loan definition

DLOC Loan has the meaning set forth in Section 1(a)(i) of this Agreement.
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Examples of DLOC Loan in a sentence

  • Borrower’s obligation to repay the DLOC Loan shall be evidenced by a promissory note substantially in the form attached hereto as Exhibit B-1 (the “DLOC Note”).

  • Borrower may not request more than five (5) Advances with respect to the DLOC Loan or the 2nd DLOC Loan in any calendar month.

  • Borrower may, at any time during the term of the Loan, prepay all of the outstanding principal of the DLOC Loan or the 2nd DLOC Loan in full, but not in part or prepay the outstanding principal of the LOC Loan in full or in part.

  • Notwithstanding any provision of this Agreement and the Loan Documents to the contrary, during the DLOC Draw Period the DLOC Loan is a straight line of credit and not a revolving line of credit and, accordingly, principal amounts paid and prepaid may not be re-borrowed or re-advanced.

  • Borrower’s obligation to repay the 2nd DLOC Loan shall be evidenced by a promissory note substantially in the form attached hereto as Exhibit B-2 (the “2nd DLOC Note”).

  • Notwithstanding any provision of this Agreement and the Loan Documents to the contrary, during the 2nd DLOC Draw Period the 2nd DLOC Loan is a straight line of credit and not a revolving line of credit and, accordingly, principal amounts paid and prepaid may not be re-borrowed or re-advanced.