Loan Debt definition

Loan Debt means all liabilities payable or owing by the Obligors to the Finance Parties under or in connection with the Finance Documents (other than under or in connection with any Hedging Document).

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Loan Debt has the meaning given to such term in Article IX(c).

Loan Debt means all indebtedness and other sums due and owing to Purchaser’s construction and mezzanine lender under the applicable loan documents, including principal and interest at the non-default rate, late charges, fees and expenses, and any prepayment premiums; provided, however, in the event that the Repurchase Closing occurs after a foreclosure (or deed in lieu of foreclosure) of Purchaser’s loan(s), the Loan Debt shall mean the sum of (x) all principal and interest, at the non-default rate, due and owing under the loan documents as of the date of foreclosure (or deed in lieu of foreclosure) of such loan, (y) all construction costs, property taxes, insurance costs, and other expenses incurred or advanced by the lender(s), or other successor(s) in interest to Purchaser as owner of the Property, following any such foreclosure or deed in lieu of foreclosure for the purpose of preserving the value of Purchaser’s Proposed Project, and (z) interest at the non-default rate provided in such loan agreement(s) on all of the foregoing amounts from and after the date of foreclosure (or deed in lieu of foreclosure) of such loan(s) through the date of the Repurchase Closing.

Examples of Loan Debt in a sentence

The investment earnings shall be credited to the Loan Debt Service Account and applied toward the Monthly Loan Deposit requirements.
The sixth Monthly Loan Deposit shall be at least equal to the amount required to make the total on deposit in the Loan Debt Service Account equal to the Semiannual Loan Payment amount, taking into consideration investment earnings credited to the account pursuant to Section 3.02.
Moneys on deposit in the Loan Debt Service Account shall be invested pursuant to the laws of the State of Florida.
Borrower has no defenses, offsets, counterclaims or deductions to all or any portion of the Secured Obligations, including Borrower’s obligation to repay the Outstanding Loan Debt, and, to the extent any such defenses, offsets, counterclaims or deductions against Lender exist as of the date of this Agreement, with or without Borrower’s knowledge, they are hereby forever waived and released by Borrower.
The withdrawal of moneys from the Loan Debt Service Account shall be for the sole purpose of making the Semiannual Loan Payment or for discharging the Project Sponsor’s obligations pursuant to Section 8.01.
The Local Government shall establish a Loan Debt Service Account with a Depository and begin making Monthly Loan Deposits no later than the date set forth for such action in Section 10.07 of this Agreement.
The withdrawal of moneys from the Loan Debt Service Account shall be for the sole purpose of making the Semiannual Loan Payment or for discharging the Local Government’s obligations pursuant to Section 8.01.
The Project Sponsor shall establish a Loan Debt Service Account with a Depository and begin making Monthly Loan Deposits no later than the date set forth for such action in Section 10.07 of this Agreement.
ABL Agent agrees that the Term Loan Claimholders have no duty to the ABL Claimholders in respect of the maintenance or preservation of the Term Loan Priority Collateral, the Term Loan Debt, or otherwise.
All collateral for (and guaranties) of the Loan Debt and any other Obligations owing to McKesson shall remain as security for (or guaranties of) the Restructure Note, subject to any existing written subordination agreements signed by McKesson.

More Definitions of Loan Debt

Loan Debt of a Person means of indebtedness of such Person for borrowed money in the form of loans from institutional lenders or debt securities issued by such Person, including principal and accrued but unpaid interest thereon, but excluding trade payables and obligations incurred in the ordinary course of business.

Loan Debt means any Debt arising pursuant to the terms of this Agreement, the Note or any other Loan Documents other than Hedge Debt.

Loan Debt. All loans, notes, or obligations which use the TKA Lease as collateral, including any leasehold mortgage, must be approved by the TRINITY Diaconate or vote of the TRINITY Congregation. TKA shall not encumber or pledge as collateral any property which belongs to TRINITY absent consent of TRINITY, which includes a vote by the TRINITY Congregation. The Session of TRINITY has agreed that, with 90% of the funds for the cost of the project in hand (cash not pledges), TKA can borrow the remaining 10% of the total cost of any project, up to a maximum of $250,000, to be adjusted annually based on inflation. When TKA has 90% of the total cost of the project in hand, the TRINITY Session will recommend that the Congregation approve any request by TKA to borrow the remaining 10%, up to the cap of $250,000, to be adjusted annually based on inflation. However, approval by the Congregation is required for any loan by TKA which in any way impacts the TRINITY property or control of it. A waiver of this provision can be requested by the TKA Board directly to the TRINITY Session which will then petition the Congregation for their approval of any loan outside the parameters set forth above. TRINITY shall have no legal obligation to make any payments on said loans. Should TKA become aware that it is going to default on a loan, then TKA shall, as soon as practicable but in no event more than fifteen (15) days after the date said payment became due, notify TRINITY of said missed payment. Further TKA hereby gives the lender the authority and obligation to communicate all details concerning the loan status to TRINITY in the event of a missed payment and/or default. In the event of a judgment of foreclosure of any leasehold interest against TKA or any interest in the School Property, this first constitutes an event of default and terminates the lease; second however, TKA grants TRINITY the right to satisfy the indebtedness after which TKA will voluntarily convey all assets to TRINITY including, but not limited to, all personal property, bank accounts and accounts receivable. In the event TRINITY procures any indebtedness on School Property, any mortgage will be subject to the leasehold interest of TKA as defined in this agreement and documents incorporated herein. Should TRINITY become aware that it is going to default on a loan, then TRINITY shall, as soon as practicable but in no event more than fifteen (15) days after the date said payment became due, notify TKA of said missed pa...

Loan Debt has the meaning given to it in Recital J;