Exit Loan definition

Exit Loan means that certain loan to be made by the Exit Lender to fund certain Administrative Expense Claims and fund other payments to creditors as detailed herein.

Exit Loan shall have the meaning ascribed to such term in the recitals.

Exit Loan has the meaning assigned in Section 3.07.

Examples of Exit Loan in a sentence

• Exit Loan Counseling is also required at the time a student graduates or drops below half- time enrollment at the University.

• Exit Loan CounselingIf you have used a loan to help finance your education at OHSU, federal regulations require that you complete exit counseling before you graduate, withdraw or change enrollment status to less than half time.

• The Reorganized Debtors shall enter into all Exit Loan Documents comprising the Exit Facility.

• The obligations incurred by the Reorganized Debtors pursuant to the Exit Loan Documents and related documents shall be secured and paid or otherwise satisfied pursuant to, and as set forth in, the Exit Loan Documents and related documents.

• On the Effective Date, the Exit Loan Documents, including, without limitation, any new promissory notes evidencing the obligations of the Reorganized Debtors, and all other documents, instruments, mortgages, and agreements to be entered into, delivered, or confirmed thereunder, shall become effective, perfected, valid, binding, and enforceable in accordance with their terms, and each party thereto shall be bound thereby, without further notice by the Debtors or Reorganized Debtors.

More Definitions of Exit Loan

Exit Loan means the loan from a lender in an amount up to $13,400,000.

Exit Loan means the Borrowing made to the Borrower pursuant to Section 2.01.

Exit Loan means that certain unsecured loan from the Exit Lender to the Debtors, in an original principal amount of $12.5 million ($12,500,000), to be used by the Debtors pursuant to the terms hereof and the Exit Loan Agreement.

Exit Loan means that certain loan up to the amount of $50,000.00 non- interest bearing unsecured loan provided by Galina and Mark Datskovsky, which the Debtors shall enter into on the Effective Dateshall be disbursed in full on the Effective Date and memorialized by a promissory note issued by the Reorganized Debtors on the Effective Date in the form attached as a Plan Supplement, with a principal amount of $50,000.00 and bearing a maturity date of December 31, 2021 at 0% interest per annum, with payments commencing in the fifth and final year of the Term of the Plan.

Exit Loan means the loan in the amount of approximately $300,000 that will be made to Debtors on the Effective Date by Robert E. Wheaton, Debtors’ president and CEO, in order to provide the balance of the funding needed to implement the Plan on the Effective Date. The loan will bear interest at the rate of 6.5% per annum and will be repaid in equal monthly amortizing installments over a period of five years. It will be secured by a second-position mortgage or deed of trust, as appropriate, an assignment of rents, and a security interest against the Artesia Property. The Exit Loan will become the senior lien against the Artesia Property when the Wells Fargo Artesia Loan is paid in full.

Exit Loan means the loan made by Development Finance, L.P. or its assignee to Debtor in the amount of $10,000,000 and described in the Debtor’s Notice of Exit Financing filed with the Bankruptcy Court on March 8, 2013 (Docket No. 291).

Exit Loan means the credit facility provided by Interstellar to the Reorganized Debtor upon the Effective Date of the Plan.