GMAC Loan definition
Examples of GMAC Loan in a sentence
Notwithstanding anything to the contrary herein, any GMAC Loan requested to be made in accordance with Section 2.3 shall be subject only to the satisfaction of the condition that the Treasury shall have received a Use of Proceeds Statement; provided that, the GMAC Loans may be used solely to fund Additional GMAC Transfers.
All of the Partners hereby approve the GMAC Loan and authorize the Company to borrow up to $59,000,000.00 under the GMAC Loan.
Subject to the terms and restrictions set forth in the GMAC Loan Documents, upon, or at any time after, the occurrence of a Company Change of Control, the holder or holders of a majority of the aggregate principal amount then outstanding under this Note may elect to require the Company to redeem all or any specified portion of this Note in accordance with the terms of this Section 5 by giving written notice to the Company of such election (the “Holder Election Notice”).
The Partners acknowledge and agree that, so long as the GMAC Loan is in effect, this Article 3 shall not be amended without GMAC’s prior written consent.
The General Partner on behalf of the Company is hereby authorized to enter into the GMAC Loan, which is hereby approved by all the Partners.
Subject to the terms and restrictions set forth in the GMAC Loan Documents, upon notice given as provided in this Section 5(a), the Company may, at its option, prepay this Note, without premium or penalty, as a whole at any time or in part from time to time, together with any accrued and unpaid interest thereon through the date of such prepayment.
Each of the GMAC Loan Documents and the GMAC Assignment and Assumption Agreements, as each such instrument has been or may be amended, supplemented or otherwise modified is an Acquired Property Lien Document.
The Seller shall have received a copy of the GMAC Loan Consent (as such term is defined in Section 6 (b) (ii)).
Prior to Closing, Seller agrees (a) except as contemplated by Section 3.4, not to amend, modify, supplement or terminate the GMAC Loan Documents, (b) to perform in a timely manner all of its monetary and other material obligations under the GMAC Loan Documents and (c) to promptly provide Purchaser with any written notices of default or other correspondence received from GMAC relating to the obligations of Seller under the GMAC Loan Documents.
Agreements with Affiliates and the GMAC Loan...........................