Foundation Loan definition

Foundation Loan means the new second-lien term loan lending facility pursuant to which the Foundation, as lender, shall make a term loan to Reorganized BSA, as borrower, in the principal amount of $42,800,000, which is equal to the appraised value of the Summit Bechtel Reserve. The material terms of the Foundation Loan are set forth on the term sheet attached hereto as Exhibit E, which is qualified in its entirety by reference to the Foundation Loan Agreement.
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Foundation Loan means the loan made under the Foundation Loan Agreement. “Foundation Loan Agreement” means the Credit Agreement, dated as of the date hereof,
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Foundation Loan has the meaning described in Section 2.2 (Use of Proceeds).
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Examples of Foundation Loan in a sentence

  • The effectiveness of the Foundation Loan Agreement Amendment shall be expressly conditioned on the completion of the Merger.

  • Effective September 1, 2022, substitute teachers’ daily rates of pay will be $224.44 (including 2 per cent in lieu of benefits).

  • The proceeds of the Loan shall be used by the Borrower for the following purpose and, unless prior written consent of the Lender is obtained, for no other purpose: (a) the proceeds of Note A shall be used to refinance existing indebtedness secured by the Property and (b) the proceeds of Note B shall be used to make a loan to the Foundation (the "Foundation Loan"), which will in turn repay an existing loan owed by the Foundation to the Lender for the benefit of Mer▇▇▇▇ ▇▇ademy.

  • The Foundation Loan shall have a term of not less than seven (7) years and shall provide repayment and other terms that are substantially the same as the terms set forth in this Agreement and in the other Loan Documents.

  • In addition to the foregoing, Borrower shall at all times perform and comply in a timely manner with all terms, conditions and provisions set forth in the loan documents related to the Foundation Loan and the County Loan.

  • Other than the Foundation Loan, make loans or advances to any Person, including, without limitation, partners and employees of the Borrower.

  • Otherwise, Borrower shall use the proceeds of the Credit Extensions solely (a) to payoff the Shell Foundation Loan on December 31, 2020 in its entirety, and (b) as working capital, for general corporate purposes and to fund its general business requirements and not for personal, family, household or agricultural purposes.

  • The Lender shall have reviewed and approved a fully executed copy of all of the documents evidencing and securing the Foundation Loan and the Borrower shall have executed and delivered to the Lender an Assignment of Loan and Loan Documents and an Estoppel Certificate of Lender, each in all respects satisfactory to the Lender, assigning all of the Borrower's right, title and interest in and to the Foundation Loan Documents to the Lender as security for the Obligations.

Related to Foundation Loan

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

  • 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.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • PPP Loan means, with respect to any Target Company, the loan made to the Target Company by a bank pursuant to that certain promissory note under the U.S. Treasury’s Paycheck Protection Program (pursuant to the CARES Act).

  • 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.