Group Loan definition

Group Loan means a loan given to an individual within a group and which is jointly guaranteed by all the members of that particular group;

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Group Loan means any loan granted (or to be granted) by a Group Company to an Issuer Group Company. Group Loans shall be fully subordinated (including with a maturity date falling after repayment of the Bond Issue and no payment of principal) to all amounts owed under the Bond Issue pursuant to a subordination and turnover agreement acceptable to the Bond Trustee, provided that interest on Group Loans may be paid subject to the interest rate being on marketable terms and no Event of Default being outstanding). All Group Loans granted to any of the Obligors shall be assigned on a first priority basis in favour of the Bond Trustee (on behalf of the Bondholders) as security for the obligations under the Finance Documents. For the avoidance of doubt, no Issuer Group Company may grant loans to a Group Company outside of the Issuer Group.

Group Loan means any loan granted (or to be granted) by a Group Company to a HoldCo Group Company (provided, such loan shall, to the extent permitted by applicable law, become subordinated if an Event of Default occurs and is continuing).

Examples of Group Loan in a sentence

• Notwithstanding any provision herein or in any other Group Loan Document to the contrary, a reallocation pursuant to this Section 2.06(d) shall only be permitted if the Nexstar Borrower and each of the other applicable Group Borrowers requests such a reallocation in accordance with the terms of Section 2.06(d) of the applicable Group Credit Agreement, in each case on identical terms.

• Notwithstanding any provision in any Group Loan Document to the contrary, the Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower or any other Consolidated Group Entity with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.

• In addition and notwithstanding any provision herein or in any Group Loan Document to the contrary, each VIE Borrower shall be deemed to be a Variable Interest Entity of Nexstar Media for so long as the applicable VIE Credit Agreement remains outstanding irrespective of any change in GAAP.

• For other Loan variants of Group Loan segment, the Interest shall be calculated on actual number of days taken as 365 (Three Hundred and Sixty Five) a year in non-leap year, and 366 (Three Hundred and Sixty Six) days in leap year, and in case the tenure of the Loan is spread over a non-leap and a leap year, the Interest is calculated by reckoning 365 (Three Hundred and Sixty Five) days in non-leap year and 366 (Three Hundred and Sixty Six) days in a leap year.

• The rate of Interest will be benchmarked to EBLR for Loan variant under Emergency Credit Line Guarantee Scheme (“ECLGS”), and MCLR for other Loan variants of Group Loan segment.

• If the Lenders of a Group become Exiting Lenders, such Groups’ Group Loan Limit shall automatically be reduced to zero on the then-current Termination Date, without giving effect to any other Lenders of any other Group’s agreement to extend the Termination Date, if any.

• Upon final allocation, which shall in no event result in the Principal of any Group to exceed its Group Loan Limit, the Administrative Agent shall advise each Group Agent of the amount of the requested Loans to be funded by each Lender in its Group and the allocated share of each Lender of such borrowing (the “Allocated Share”), and each such approving Lender shall make available to the Borrower its Allocated Share of the applicable Loans on the proposed Borrowing Date in accordance with clause (c) below.

• Borrower and Guarantors shall cause Allseas and Phoenix to comply with all applicable covenants contained in this Agreement and in the other Group Loan Documents to which either is a party.

• All written statements, representations, and warranties made by any of the Credit Parties, Allseas, and Phoenix in the Loan Documents or in any other Group Loan Documents are materially true, and do not omit any material facts on the date as of which such information was stated or certified.

• This Agreement, each Loan Document, and each other Group Loan Document is not subject to any claim, defense or right of offset or recoupment of any kind whatsoever.

More Definitions of Group Loan

Group Loan means any loan granted (or to be granted) by the Issuer or another Group Company to a Restricted Group Company, being fully subordinated (to the extent permitted by applicable law) in right of payment to the Obligors’ obligations under the Finance Documents upon the occurrence of an Event of Default which is continuing and, in respect of Group Loans

Group Loan means an Intercompany Loan provided to a member of the Issuer Group by a member of the Guarantor Group which is not a member of the Issuer Group.

Group Loan means a loan made by any entity within the Group to another entity within the Group. Hazardous Material means any element or substance, whether natural or artificial, and whether consisting of gas, liquid, solid or vapour, whether on its own or in any combination with any other element or substance or radiation, which is listed, identified, defined or determined by any Environmental Law or other Applicable Law as hazardous, harmful, a contamination or waste and/or capable of being or becoming harmful to mankind or any living organism or damaging to the Environment, including, without limitation, oil (as defined in the United States Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, and the Oil Pollution Act of 1990, as amended). Hedged Portion means, from time to time, the principal amount of any outstanding Loans the interest on which has been hedged by the Owner with a Swap Bank under and in accordance with the terms of any Swap Agreement.

Group Loan as used herein, shall mean any Indebtedness under a loan by one member of the Parent Group to another member of the Parent Group.