Line of Credit Loan definition

Line of Credit Loan means a loan or an advance made by Bank to Borrower under its Line of Credit Commitment.

Line of Credit Loan means a Loan, usually structured as interest only, for a term not to exceed seven years, except for a Farm Enterprise Loan which shall have a term not to exceed the term of the current Farm Borrower Agreement, where the minimum repayment is usually structured as interest only during the term of the loan.

Line of Credit Loan has the meaning set forth in Section 2.1.1 hereof.

Examples of Line of Credit Loan in a sentence

• The duration of a Guarantee shall not exceed seven (7) years, except for a Line of Credit Loan to a Farm Enterprise, where the duration of a Guarantee shall not exceed the term of the current Farm Borrower Agreement and in no event seven (7) years.

• On the Revolving Line of Credit Loan Maturity Date, the amount of the then unpaid principal balance of the Revolving Line of Credit Loan and any and all other amounts due and owing hereunder or under any other Loan Document relating to the Revolving Line of Credit Loan will be due and payable.

• The $50 Million Acquisition Loan was evidenced by that certain $50,000,000 Acquisition Promissory Note dated as of March 3, 2005, executed by Borrowers in favor of MPFC II ("$50 Million Note"); and the $30 Million Line of Credit Loan was evidenced by that certain $30,000,000 Line of Credit Promissory Note dated as of March 3, 2005, executed by Borrowers in favor of MPFC II ("$30 Million Line of Credit Note").

• The $80 Million Credit Facility was composed of two (2) separate loans: (i) a $50,000,000 Acquisition Loan ("$50 Million Acquisition Loan"); and (ii) a $30,000,000 Non-Revolving Line of Credit ("$30 Million Line of Credit Loan").

• The computation of interest, amortization, maturity and other terms and conditions of the Revolving Line of Credit Loan shall be as provided in the Revolving Line of Credit Note, provided, however, in no event shall the applicable rate exceed the maximum nonusurious interest rate, if any, that at any time, or from time to time, may be contracted for, taken, reserved, charged, or received under applicable state or federal laws (the “Maximum Rate”).

More Definitions of Line of Credit Loan

Line of Credit Loan means each Loan consisting of outstanding indebtedness arising under a Line of Credit;

Line of Credit Loan means any advance, and in the plural all advances, made to the Borrower from time to time under the Line of Credit.

Line of Credit Loan means the loan in the principal amount of $3,000,000.00 from the Bank to the Company as evidenced by the Line of Credit Loan Note.

Line of Credit Loan means, collectively each Eurodollar Rate Line of Credit Loan and each Fixed Rate Line of Credit Loan made by the Line of Credit Lenders on or after the First Amendment Effective Date pursuant to Sections 2.02 and 2.03.

Line of Credit Loan means each outstanding home equity line of credit indebtedness created pursuant to a Line of Credit Agreement and any other indebtedness due or owing under the relevant Mortgage Conditions by a Borrower, which is not an All-In-One Mortgage Segment, on the security of a Multiproduct Mortgage from time to time outstanding, or, as the context may require, the Borrower’s obligations in respect of the same;

Line of Credit Loan means a Loan made by Lender to Borrower pursuant to Section 2.01(b), the proceeds of which shall be applied toward a category of use included on Schedule 3.12 and identified to Lender’s reasonable satisfaction. “Line of Credit Loan, Asset Sale and Casualty Proceeds Account” shall mean that certain disbursement account established and administered pursuant to Section 3.4(b) of the Security Agreement.

Line of Credit Loan means a short-term or temporary loan for project planning, engineering design, and construction issued before or during the planning stage of a project;