Eligible IDC definition

Eligible IDC means interest accruing on the Loans during the Availability Period.
View Source
Eligible IDC means either of Amaralina Star Bank Tranche Eligible IDC, Laguna Star Bank Tranche Eligible IDC, Amaralina Star MTI Tranche Eligible IDC or Laguna Star MTI Tranche Eligible IDC.
View Source

Examples of Eligible IDC in a sentence

  • Notwithstanding anything herein to the contrary, nothing in this Section 2.5(c) shall limit the right of the Lenders to withhold making any Loans for the payment of Eligible IDC if an Event of Default has occurred and is continuing or any other condition precedent set forth in Section 3.2 has not been satisfied.

  • MTI will not be required to pay any such Laguna Star MTI Tranche Loans to Laguna Star Ltd., but shall apply the proceeds in payment of the Laguna Star MTI Tranche Eligible IDC due on the relevant Interest Payment Date, and MTI will be deemed to have advanced such Laguna Star MTI Tranche Loans to Laguna Star Ltd., and Laguna Star Ltd.

  • The Amaralina Star Bank Tranche Lenders will not be required to pay any such Amaralina Star Bank Tranche Loans to Amaralina Star Ltd., but shall apply the proceeds in payment of the Amaralina Star Bank Tranche Eligible IDC due on the relevant Interest Payment Date, and each Amaralina Star Bank Tranche Lender will be deemed to have advanced its pro rata portion of such Amaralina Star Bank Tranche Loans to Amaralina Star Ltd., and Amaralina Star Ltd.

  • The Laguna Star Bank Tranche Lenders will not be required to pay any such Laguna Star Bank Tranche Loans to Laguna Star Ltd., but shall apply the proceeds in payment of the Laguna Star Bank Tranche Eligible IDC due on the relevant Interest Payment Date, and each Laguna Star Bank Tranche Lender will be deemed to have advanced its pro rata portion of such Laguna Star Bank Tranche Loans to Laguna Star Ltd., and Laguna Star Ltd.

  • Notwithstanding anything herein to the contrary, nothing in this Section 2.5(b) shall limit the right of the Bank Tranche Lenders to withhold making any Bank Tranche Loans for the payment of Eligible IDC if an Event of Default has occurred and is continuing or any other condition precedent set forth in Section 3.2 has not been satisfied.

  • MTI will not be required to pay any such Amaralina Star MTI Tranche Loans to Amaralina Star Ltd., but shall apply the proceeds in payment of the Amaralina Star MTI Tranche Eligible IDC due on the relevant Interest Payment Date, and MTI will be deemed to have advanced such Amaralina Star MTI Tranche Loans to Amaralina Star Ltd., and Amaralina Star Ltd.

  • Each such notice (a “Notice of Borrowing”) shall be irrevocable and shall be given by the Borrower substantially in the form of Exhibit A hereto, appropriately completed to specify (i) the aggregate principal amount of the Loans to be made pursuant to such Borrowing and (ii) the date of such Borrowing (which shall be a Business Day); provided, however, that no Notice of Borrowing shall be required to be delivered in connection with a Borrowing of Loans solely in respect of Eligible IDC.

  • The Lenders will not be required to pay any such Loans to the Borrower, but shall apply the proceeds in payment of the Eligible IDC due on the relevant Interest Payment Date, and each Lender will be deemed to have advanced its pro rata portion of such Loans to the Borrower and the Borrower will be deemed to have paid, to the extent of such Loans made, the Eligible IDC due on the relevant Interest Payment Date.

Related to Eligible IDC

  • Eligible Items means the goods imported under the Program (except those specifically excluded pursuant to Attachment 1 to Schedule 3 to this Loan Agreement), the foreign exchange costs of which are eligible for financing out of the proceeds of the Loan;

  • Eligible Issuer means an issuer that meets the criteria and has complied with the requirements of NI 44-101 so as to allow it to offer its securities using a short form prospectus;

  • Eligible Account Any of (i) an account or accounts maintained with a federal or state chartered depository institution or trust company the short-term unsecured debt obligations of which (or, in the case of a depository institution or trust company that is the principal subsidiary of a holding company, the debt obligations of such holding company) have the highest short-term ratings of each Rating Agency at the time any amounts are held on deposit therein, or (ii) an account or accounts in a depository institution or trust company in which such accounts are insured by the FDIC or the SAIF (to the limits established by the FDIC or the SAIF, as applicable) and the uninsured deposits in which accounts are otherwise secured such that, as evidenced by an Opinion of Counsel delivered to the Trustee and to each Rating Agency, the Certificateholders have a claim with respect to the funds in such account or a perfected first priority security interest against any collateral (which shall be limited to Permitted Investments) securing such funds that is superior to claims of any other depositors or creditors of the depository institution or trust company in which such account is maintained, or (iii) a trust account or accounts maintained with (a) the trust department of a federal or state chartered depository institution or (b) a trust company, acting in its fiduciary capacity or (iv) any other account acceptable to each Rating Agency. Eligible Accounts may bear interest, and may include, if otherwise qualified under this definition, accounts maintained with the Trustee.

  • Eligible Bank means a bank or trust company (i) that is organized and existing under the laws of the United States of America or Canada, or any state, territory, province or possession thereof, (ii) that, as of the time of the making or acquisition of an Investment in such bank or trust company, has combined capital and surplus in excess of $500.0 million and (iii) the senior Debt of which is rated at least “A-2” by Moody’s or at least “A” by S&P.

  • Eligible adult means any of the following: