Expansion Loan definition

Expansion Loan shall have the meaning ascribed thereto under Section ‎2.2.1 below.
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Expansion Loan has the meaning set forth in the NCB Loan Purchase Agreement.
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Expansion Loan means any Loan (other than an Original Loan) (A) the proceeds of which shall be used by the related Obligor to finance capital or leasehold improvements, inventory or to expand or renovate a grocery store, (B) which, on the applicable Incremental Purchase Date, satisfies all of the terms and conditions of this Agreement (including, without limitation, Section 3.03(m)), and (C) with respect to which (i) the Collateral Coverage Ratio is less than 1:1, (ii) the Cash Flow Ratio for the related Obligor is less than 1.1:1 and/or (iii) the related Obligor does not have a positive net worth.
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Examples of Expansion Loan in a sentence

  • The Borrower shall not be permitted to reduce the Revolving Credit Commitment Amount unless the Expansion Loan Commitment Amount has been reduced to zero in accordance with the terms hereof.

  • Each such principal payment shall be allocated to the Lenders holding the Capital Expansion Loans pro rata based upon their Capital Expansion Loan Percentages.

  • In addition to the repurchase rights and obligations contained in Sections 2.02(d), 4.04(b), 7.01, 7.02, 7.04 and 9.02 of this Agreement, Buyer has the option to cause the Seller to repurchase any Expansion Loan sold by Seller to Buyer if, on the Expansion Loan Repurchase Date for such Expansion Loan (i) the Cash Flow Ratio for the related Obligor is less than 1.1:1, (ii) the Collateral Coverage Ratio for such Expansion Loan is less than 1:1 or (iii) the related Obligor does not have a positive net worth.

  • Borrowings of Expansion Loans shall be in a minimum aggregate amount equal to $250,000 and in integral multiples of $50,000 or, if less, the amount of the Expansion Loan Availability immediately prior to such Borrowing.

  • During 1995, Iroquois entered into Expansion Loan Agreement No. 2 in the amount of $13.4 million to finance the Croghan Compressor Station.

  • During 1993, Iroquois entered into Expansion Loan Agreement No. 1 in the amount of $17.6 million to construct the Wright Compressor Station.

  • The Expansion Loan Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent, to effect the provisions of this Section, including without limitation to effect the risk participation by the Lenders in the Expansion Foreign Loans.

  • The Lender agrees to lend to the Borrower, and the Borrower agrees to borrow from the Lender, the proceeds of the Expansion Loan, from time to time until the Completion Deadline, for the purpose of developing the Project Expansion and constructing the Expansion Improvements.

  • The Company shall repay all Expansion Loans in full on the Expansion Loan Commitment Termination Date.

  • In the event the Loan qualifies for conversion from the Expansion Loan to the Term Loan under the terms of the Amended Loan Agreement, Borrower will pay the Term Loan in accordance with the following terms and conditions.


More Definitions of Expansion Loan

Expansion Loan means, relative to any Lender, any loan made by such Lender to the Borrower pursuant to Section 2.1.1.
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Expansion Loan has the meaning ascribed to such term in Section 5.1 of this Agreement.
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Expansion Loan. As defined in Section 2.1.
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Related to Expansion Loan

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

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

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

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

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Term Loan as defined in Section 2.1.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Equipment Advance is defined in Section 2.1.1.

  • Applied Non-Extension Advance has the meaning assigned to such term in Section 2.06(a).

  • Extended Loan shall have the meaning assigned to such term in Section 2.26(a).

  • Interest Drawing has the meaning assigned to such term in Section 3.6(a).

  • PIK Loan means a Loan to an Obligor, which provides for a portion of the interest that accrues thereon to be added to the principal amount of such Loan for some period of the time prior to such Loan requiring the cash payment of interest on a monthly or quarterly basis.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

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

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • Initial Advance means the first Advance made pursuant to Article II.

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

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • 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.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.