GDB Loan definition

GDB Loan means a loan by GDB to Borrower in the aggregate principal amount of $25,000,000 to be used by Borrower to finance a portion of the Total Project Costs, pursuant to the terms and conditions set forth in this Agreement.
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GDB Loan means that certain loan outstanding on the Effective Date made by the Government Development Bank of Puerto Rico and secured by a mortgage on the real property owned by ESJ Hotel Corporation and located adjacent to the Wyndham El Conquisador Resort and Golden Door Spa.
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Examples of GDB Loan in a sentence

  • To the extent that a Transfer violates the provisions of this section, the Transfer shall be void ab initio and the applicable rights and obligations under the GDB Loan Agreement and GDB shall continue to remain subject to the terms of this Agreement.

  • If the GDB Loan is then outstanding, upon the termination of the Reimbursement Agreement and the full satisfaction of the Secured Obligations B, the Bank agrees to deliver Mortgage Note B to GDB for cancellation purposes only.

  • Copies of each of the documents executed in connection with the GDB Loan shall have been delivered to the Bank, and shall have been certified to be true, correct and complete by the General Partners.

  • If the GDB Loan is not then outstanding, the Bank agrees that upon termination of the Reimbursement Agreement and the full satisfaction of the Secured Obligations B, the Bank shall deliver Mortgage Note B to the Borrower for cancellation purposes only.

  • The obligations of Borrower under this Article 8.18 shall survive the payment, prepayment or redemption of the GDB Loan and the termination of this Agreement.

  • The GDB Loan shall have been entered into in accordance with documentation satisfactory to the Bank in its sole and absolute discretion, which documentation shall include, without limitation, the GDB Standstill Agreement.

  • If the GDB Loan is not then outstanding, the Bank agrees that upon termination of the Bond Swap Agreement and the full satisfaction of the Termination Payments Obligations, the Bank shall deliver the Termination Payments Note to the Borrower for cancellation purposes only.

  • The GDB Loan may be prepaid in whole or in part, at any time, plus accrued interest to the date of prepayment, but only after the full payment of the loan to Borrower under the Bank Loan Documents, except from the GDB Escrow.

  • The Net Proceeds shall be disbursed substantially in accordance with the requirements of Article 7 of this Agreement such that the Net Proceeds shall be advanced in the same manner and subject to the same conditions as the disbursements of the proceeds of the GDB Loan.

  • Except for the Operative Documents, the Construction Documents, the Project Documents, the Permitted Encumbrances and any lien in favor of GDB created pursuant to the GDB Loan and consented to by the Bank, the Company has made no contract or arrangement of any kind, the performance of which by the other party thereto would give rise to a Lien against all or any portion of the Collateral.