IRB Loan definition

IRB Loan means Indebtedness evidenced by any of the following: (a) the Loan Agreement dated as of September 1, 1994, between South Carolina Jobs-Economic Development Authority (the “Authority”) and Borrower relating to $7,700,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing Company of America, Inc. Project) Series 1994A, (b) the Trust Indenture dated as of September 1, 1994, by and between the Authority and Xxxx Xxxxx Bank, as trustee, with respect to the bonds described in clause (a) of this definition, (c) the Loan Agreement dated as of September 1, 1994, between the Authority and Borrower relating to $1,155,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing Company of America, Inc. Project) Series 1994B, (d) the Trust Indenture dated as of September 1, 1994, by and between the Authority and Xxxx Xxxxx Bank, as trustee, with respect to the bonds described in clause (c) of this definition, (e) the Loan Agreement dated as of September 1, 1998 between the Authority and RBC Linear Precision Products, Inc. relating to $3,000,000 Tax Exempt Demand/Fixed Rate Industrial Development Revenue Bonds (RBC Linear Precision Products, Inc. Project) Series 1998, (f) the Trust Indenture dated as of September 1, 1998 with respect to the bonds described in clause (e) of this definition, (g) the Loan Agreement dated as of April 1, 1999 between California Infrastructure and Economic Development Bank and Borrower relating to $4,800,000 Variable Rate Demand Industrial Revenue Bonds Series 1999 (Roller Bearing Company of America, Inc. — Santa Xxx Project) and (h) the Indenture of Trust dated as of April 1, 1999 with respect to the bonds described in clause (g) of this definition and, in each case, the other documents executed in connection therewith.
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IRB Loan means Indebtedness evidenced by any of the following: (i) the Loan Agreement dated as of September 1, 1994, between South Carolina Jobs-Economic Development Authority (the “Authority”) and the Borrower relating to $7,700,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing Company of America, Inc. Project) Series 1994A, (ii) the Trust Indenture dated as of September 1, 1994, by and between the Authority and Mark Twain Bank, as trustee, with respect to the bonds described in clause (i) of this definition, (iii) the Loan Agreement dated as of September 1, 1994, between the Authority and the Borrower relating to $1,155,000 Variable Rate Demand Industrial Development Revenue Bonds (Roller Bearing
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IRB Loan means Indebtedness evidenced by the Promissory Note dated September 1, 1990 executed and delivered by Borrower and Holdings in favor of Industrial Development Authority of the City of Fredericksburg Virginia in the original principal amount of $4,205,000.
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Examples of IRB Loan in a sentence

  • IRB Loan 3,725,000.00 100,000.00 3,425,000.00 Secured by: Deeds of Trust on 1-Nov-97 Interest var.

  • The Buyers shall (i) obtain and deliver to the Norwest Bank Minnesota, N.A. a reasonably satisfactory replacement letter of credit consistent with the terms of the IRB Loan Agreement in connection with the US Buyers' assumption of the obligations of Granutec thereunder or (ii) take all action necessary to permit Granutec to prepay in full or otherwise defease, with funds provided by the Buyers, all outstanding obligations under the IRB Loan Agreement.

  • Buyer agrees to pay all reasonable costs and expenses (including bond counsel fees but expressly excluding IRB prepayment fees, if any) which directly relate to the assumption by Buyer of the IRB Loan and the Lease between the Partnership and the Windxx-Xxxxxx Xxxustrial Building Authority; all other costs and expenses incurred pursuant to this Section 4.2 shall be borne by Seller.

  • Project) Series 1994, originally issued in the aggregate principal amount of $3,700,000 (the "Bonds") issued in connection with the IRB Loan may be deemed to have become taxable as a result of the exceeding the $10 million limitation imposed by Section 144 of the Code, Buyer agrees to cause the Bonds to be redeemed as soon as practicable, as determined by Bond counsel, but in any event by no later than July 14, 1997.

  • Notwithstanding anything herein or in the Bond Documents to the contrary, the Bank will not be deemed to have received reimbursement of a drawing under the Letter of Credit pursuant to the terms of this Agreement and the Bond Document until both the Bank has been reimbursed by LBCI and LBCI has been repaid by the Obligors for any Performa IRB Loan with respect to the Letter of Credit.

  • The Borrowers shall not suffer or permit any amendment, modification, supplement, replacement, waiver or termination to or of any provision of the IRB Loan Agreements or the agreements evidencing the OPIC/EBRD Omolon Indebtedness, the Omolon Working Capital Facility or the Omolon Subordinated Debt Facility to the extent such amendments relate to rate, amortization, term or security.

  • The entire principal balance of the Bridge Loan Note shall be mature and be due and payable upon the earliest to occur of: (1) the written demand of Bank; (2) the consummation of the IRB Loan; or (3) December 31, 1997.

  • Each of the Mabex IRB Loan, the Cantar U.S. IRB Loan and Performa IRB Loan shall be repayable upon demand.

  • As of the date hereof, the aggregate outstanding principal amount of the advances under the IRB Loan Agreement is U.S. $*.

  • The Sellers shall have received from the Buyers the Assumption Agreements and, unless the Buyers have taken all action necessary to permit Granutec to prepay in full or otherwise defease with funds provided by the Buyers all outstanding obligations under the IRB Loan Agreement, all documents necessary to assume all outstanding obligations under the IRB Loan and release Granutec from liability thereunder.


More Definitions of IRB Loan

IRB Loan means, collectively, the indebtedness of Seller evidenced by Industrial Revenue Bonds in the original aggregate amount of $3,700,000 issued as of October 1, 1994 by Windxx-Xxxxxx Xxxustrial Building Authority which has a current outstanding principal balance of approximately $3,100,000, and is secured by an irrevocable standby letter of credit issued by Wachovia Bank of Georgia, N.A. ("Bank").
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IRB Loan is defined in Section 2.1 hereof.
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Related to IRB Loan

  • Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Term Loan as defined in Section 2.1.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Term C Loan is defined in Section 2.2(a)(iii) hereof.

  • Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • New Revolving Loan has the meaning specified in Section 2.14(a).