EDC Loan definition

EDC Loan means the loan provided to the Borrower by EDC pursuant to the EDC Loan Agreement.
Sample 1
EDC Loan means the aggregate amount of Revolving Credit Loans outstanding in respect of the EDC Loan Borrowing Base.
Sample 1
EDC Loan means the term loan in the amount of $8,027,500 made by EDC to SMTC Mex and SMTC Massachusetts, pursuant to the terms of the EDC Loan Agreements.
Sample 1

Examples of EDC Loan in a sentence

  • The Big Sky EDC Loan Committee has reviewed the requests and recommends approval to the full EDC Board for submission to the SBA for final approval.

  • The Big Sky EDC Loan Committee has reviewed the request and recommends approval to the full EDC Board for submission to the SBA for final approval.

  • Members of the City Council, EDC, Loan Review Committee or any other City official, employee, or agent who exercises decision-making functions or responsibilities in connection with the implementation of this program.

  • In December 2004, the Board accepted a contribution from the EDC Loan Corporation (EDC), a not-for-profit organization, consisting of an assignment of a 50-year leasehold interest in the Kansas City Overhaul Base located adjacent to the Kansas City International Airport (the Overhaul Base).

  • The Companies are in default of their obligations to EDC pursuant to the EDC Loan Agreements and guarantees, respectively, and such defaults are continuing.

  • The Companies are indebted to EDC in the aggregate amount of $5,040,455.00 pursuant to EDC Loan Agreements.

  • The increase in cash generated of $7.7 million YTD was primarily due to proceeds from the EDC Loan and capital contribution of $6.3 million and $5.0 million, respectively, partially offset by the increase in repayment of long term debt by $1.7 million and increase in repayment of the Operating Line by $2.4 million.

  • Pursuant to each EDC Loan Agreements, Axios Canada delivered to EDC a general security agreement, each of which granted an exclusive first ranking priority security interest over all of Axios Canada’s present and after-acquired personal and movable property (the “ GSAs”).

  • The increase in cash generated of $9.6 million during the Period was primarily due to proceeds from the EDC Loan and capital contribution of $6.3 million and $5.0 million, respectively, partially offset by increase in repayment of the Operating Line by $1.3 million and the increase in repayment of long term debt by$1.1 million.

  • EDC has extended credit facilities to Axios Canada pursuant to two loan agreements (together, the “ EDC Loan Agreements”), which are guaranteed by Axios Corp., Axios USA, and Axios Logistics (collectively, the “EDC Guarantors”).


More Definitions of EDC Loan

EDC Loan means the aggregate of the Tranche I EDC Loan and the Tranche II EDC Loan.
Sample 1
EDC Loan means the loan made to Vitran by Export Development Canada in a maximum aggregate principal amount of $3,500,000, guaranteed by Vitran Express, Inc. and Vitran Logistics, Inc. and secured by a mortgage on the property known municipally as 0000 Xxxxxx Xxxxxx, Indianapolis, Indiana pursuant to a loan agreement dated as of December 23, 2010, as amended by the amending agreement dated November 30, 2011.
Sample 1

Related to EDC Loan

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

  • PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.

  • 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.

  • 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”.

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • Term C Loan is defined in Section 2.2(a)(iii) hereof.

  • Tranche C Loan has the meaning specified in Section 2.01(c).

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

  • Term Loan as defined in Section 2.1.

  • 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.

  • 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;

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

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

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

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Revolving Loan Note means a promissory note in the form of Exhibit 2.5-1, as it may be amended, supplemented or otherwise modified from time to time.

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

  • Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

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

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

  • 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.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • 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.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • 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.