GNB Loan definition
GNB Loan shall have the meaning set forth in Section 2.1 hereof.
Examples of GNB Loan in a sentence
The obligations of Lender to make any funding under the Loan is subject to the following condition precedent: An acknowledgment from GNB Bank that this Loan will not constitute a default under the GNB Loan and that to the best of its knowledge, the Borrower is not in default of the GNB Loan.
That Borrower shall take no actions which would constitute an event of default under the GNB Loan.
Notwithstanding any of the provisions of Sections 2.3 and 2.5 hereof, the principal amount of the Loan and the interests will not be paid to the Lender, if Borrower has defaulted in any of its obligations and payments due under the GNB Loan in the original principal amount of $5,000,000.