Initial Loan Date definition

Initial Loan Date shall have the meaning set forth in Section 2.2(a)(i).

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Initial Loan Date means the first Business Day on which Leases are allocated to the Warehouse SUBI and the Lenders fund the initial Loans under this Agreement.

Initial Loan Date means the date upon which the Term Loan is made by the Banks to the Borrower in accordance with the terms hereof.

Examples of Initial Loan Date in a sentence

• Borrower shall use its commercially reasonable efforts to cause (i) the condition set forth in Section 2.4(a)(iv) to be satisfied on or prior to the date that is two (2) Business Days prior to the commencement of the Auction and (ii) the condition set forth in Section 2.4(a)(viii) to be satisfied on or prior to the Initial Loan Date.

• Borrower will not at the end of any fiscal quarter permit the Recourse Leverage Ratio to exceed, with respect to any fiscal quarter ending in the period (x) from the Effective Date until the Initial Loan Date, 0.65 to 1.00, (y) from the Initial Loan Date until the one (1) year anniversary thereof, 0.70 to 1.00, and (z) thereafter, 0.65 to 1.00.

• All such amounts will be paid with proceeds of the Initial Loan and will be reflected in the funding instructions given by the Borrower to the Lender on or before the Initial Loan Date.

• As of the Initial Loan Date (and, unless such representations and warranties are made only prior to or on the Initial Loan Date, any other date on which representations and warranties are otherwise remade or deemed remade hereunder), each of the representations and warranties contained in the Related Transaction Documents is true and correct.

• The Loans shall be evidenced by a promissory note (the "NOTE") of the Borrower, substantially in the form of Exhibit A, to be executed and delivered to the Lender on the Initial Loan Date.

• The representations and warranties of the Borrower and each other Loan Party set forth in this Agreement shall be true and correct with the same effect as though made on the Initial Loan Date (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct only as of such specified date).

• The Lender (or its counsel) shall have received (i) duly executed copies of the Loan Documents and written opinion of the Loan Parties’ counsel, addressed to the Lender in substantially the form of Exhibit A, (ii) a duly executed copy of the Registration Rights Agreement dated the Initial Loan Date to which the Borrower, the Lender and Wanxiang Clean Energy USA Corp.

• The Lender shall have received all fees required to be paid, and all out-of-pocket expenses for which invoices have been presented (including the reasonable fees and expenses of legal counsel), on or before the Initial Loan Date.

• The Lender shall have received a certificate, signed by a Financial Officer of the Borrower and each other Loan Party, dated as of the Initial Loan Date (i) stating that no Default has occurred and is continuing and (ii) stating that the representations and warranties contained in Article III are true and correct as of the Initial Loan Date.

• The Borrower shall not create or suffer to exist any Lien, except for Permitted Liens, upon or with respect to any of its properties, whether the Borrower owns or has an interest in such properties on the Initial Loan Date or at any time thereafter.

More Definitions of Initial Loan Date

Initial Loan Date has the meaning assigned to such term in Section 4.02.

Initial Loan Date means the Business Day on which the first Loan shall be made. Ineligible Security shall mean any security which may not be underwritten or dealt in by member banks of the Federal Reserve System under Section 16 of the Banking Act of 1933 (12 U.S.C. Section 24, Seventh), as amended. Insolvency Proceeding shall mean, with respect to any Person, (a) a case, action or proceeding with respect to such Person (i) before any court or any other Official Body under any bankruptcy, insolvency, reorganization or other similar Law now or hereafter in effect, or (ii) for the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator, conservator (or similar official) of such Person or otherwise relating to the liquidation, dissolution, winding-up or relief of such Person, or (b) any general assignment for the benefit of creditors, composition, marshaling of assets for creditors, or other, similar arrangement in respect of such Person’s creditors generally or any substantial portion of its creditors; undertaken under any Law. Interest Period shall mean the period of time selected by the Borrower in connection with (and to apply to) any election permitted hereunder by the Borrower to have Loans bear interest under the LIBOR Option. Subject to the last sentence of this definition, such period shall be one, two, three or six Months. Such Interest Period shall commence on the effective date of such Interest Rate Option, which shall be (i) the Borrowing Date if the Borrower is requesting new Loans, or (ii) the date of renewal of or conversion to the LIBOR Option if the Borrower is renewing or converting to the LIBOR Option applicable to outstanding Loans. Notwithstanding the second sentence hereof: (A) any Interest Period which would otherwise end on a date which is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, and (B) the Borrower shall not select, convert to or renew an Interest Period for any portion of the Loans that would end after the Expiration Date.

Initial Loan Date means the date on which the conditions set forth in Section 4.02 and Section 4.03 are satisfied and on which the Initial Loan is made.

Initial Loan Date means the Business Day on which the first Loan shall be made.

Initial Loan Date is defined in Schedule I. ----------------- ----------

Initial Loan Date means the second anniversary of the Effective Date.