Duration of the Loan definition

Duration of the Loan means the period commencing on drawdown of the Loan and expiring on the date on which the Loan is repaid in full.
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Duration of the Loan means the period commencing on drawdown of the Loan and
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Examples of Duration of the Loan in a sentence

  • Skipton reserves the right, for the Duration of the Loan, to debit funds from any account held by the Borrower with Skipton and credit them to any account held by the Borrower with Skipton in settlement of any outstanding debit amount.

  • Skipton may vary the amount of the monthly payments deducted to reflect the amount outstanding under the Loan, any previous payments paid or unpaid by the Borrower, and the remainder of the Duration of the Loan, with a view to ensuring that the Loan is repaid on the Repayment Date.

  • The Borrower covenants to Skipton in the terms set out in Schedule 3 for the Duration of the Loan and for so long as the Loan is outstanding.

  • Whilst it is not a condition of Skipton making the Loan, Skipton strongly recommends that anyone with liabilities under the Loan Agreement should arrange suitable life insurance cover and any other protection needed in the sum of the Loan for the Duration of the Loan, to assist in the repayment of the Loan in the event of their death during the Duration of the Loan.

  • Schedule 3 Property covenants1 The Borrower undertakes to maintain a suitable buildings insurance policy (for such risks including cover for subsidence and for such sum assured as Skipton shall specify or where Skipton has not so specified the full reinstatement value of the buildings), with Skipton’s interest noted, throughout the Duration of the Loan.

Related to Duration of the Loan

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Term Loan as defined in Section 2.1.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Initial Revolving Loan means a Revolving Facility Loan made (i) pursuant to the Revolving Facility Commitments in effect on the Closing Date (as the same may be amended from time to time in accordance with this Agreement) or (ii) pursuant to any Incremental Revolving Facility Commitment on the same terms as the Revolving Facility Loans referred to in clause (i) of this definition.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.