Loan Recoveries definition

Loan Recoveries means all payments and any other sums received with respect to a Program Loan, including, but not limited to, from the disposition of any collateral for such loan. Notwithstanding the foregoing, Loan Recoveries shall not include any amounts due to the seller of a Closed Loan for payment or sums due prior to the date of the purchase of such Closed Loan by the MPF Bank.
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Loan Recoveries shall have the meaning set forth in Section 8.8(a). "Long Term Debt" shall mean, in respect of any applicable Person(s) and as of any applicable date of determination thereof, all Debt of such Person(s) which should be classified as "funded indebtedness" or "long term indebtedness" on a balance sheet of such Person(s) as of such date in accordance with GAAP, including, without limitation, to the extent not otherwise included, capital lease obligations of such Person(s) to the extent classified as long term at such time. "Maturity Date" shall mean the earlier of (i) May 15, 2020 and (ii) the date on which the principal amount of all outstanding Loans have been declared or automatically have become due and payable (whether by acceleration or otherwise). "Material Adverse Effect" shall mean any act, event, condition or circumstance which has had or could have a material and adverse effect on (i) the business, operations, condition (financial or otherwise), performance, prospects, assets or liabilities of any Loan Party, (ii) the ability of any Loan Party to perform its obligations under any Loan Document to which it is a party or by which it is bound, or the enforceability of any of the Indebtedness or any Loan Document or any rights or remedies of Agent or Lenders thereunder, or (iii) any Loan Party's interest in, or the value, perfection or priority of Agent's, for and on behalf of Lender's security interest or lien in any Collateral or the ability of Agent to realize on any Collateral. "Multiemployer Plan" shall mean any "multiemployer plan" as defined in Section 4001(a)(3) of ERISA, which is contributed to by (or to which there is or may be an obligation to contribute of) the Borrower, any of its Subsidiaries or an ERISA Affiliate, and each such plan for the five-year period immediately following the latest date on which the Borrower, any of its Subsidiaries or an ERISA Affiliate contributed to or had an obligation to contribute to such plan. "Net Income" shall mean, in respect of any applicable Person(s) and for any applicable period of determination, the net income (or loss) of such Person(s) for such period, as determined in accordance with GAAP. "Notice of Conversion/Continuation" shall have the meaning set forth in Section 2.5(b). "OFAC" shall mean the U.S. Department of the Treasury's Office of Foreign Assets Control. "Owned Real Estate" shall mean all real property owned by the Borrower and/or its Subsidiaries. "Patriot Act" shall mean the USA PATR...
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Loan Recoveries shall have the meaning set forth in Section 8.8(a).
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Examples of Loan Recoveries in a sentence

  • The MPF Provider shall also pay to the Boston Bank any interest on such Loan Recoveries which was also rescinded or must be returned.

  • Except for funds received from the MPF Provider, if the Boston Bank shall in any manner receive any Loan Recoveries or property in connection with any such Loan, including but not limited to payments from PFIs or the proceeds of collateral pledged by PFIs to secure their respective obligations under PFI Agreements, the Boston Bank shall transfer to the MPF Provider its pro rata share of all such receipts as provided in the FHLB Guide.

  • If all or part of any payment of Loan Recoveries or other amounts paid to the Boston Bank is rescinded or must otherwise be returned for any reason and if the Boston Bank has paid to the MPF Provider its pro rata share thereof, then the MPF Provider shall pay to the Boston Bank an amount equal to the MPF Provider’s pro rata share of the amount which was rescinded or which must be so returned by the Boston Bank in accordance with the requirements of the FHLB Guide.

  • The MPF Provider shall also pay to the MPF Bank any interest on such Loan Recoveries which was also rescinded or must be returned that the MPF Bank is obligated to pay or return to the Borrower.

  • If all or part of any payment of Loan Recoveries or other amounts paid to the MPF Bank is rescinded or must otherwise be returned for any reason and if the MPF Bank has paid the same to the MPF Provider, then the MPF Provider shall pay to the MPF Bank an amount equal to MPF Provider’s Share of the amount which was rescinded or which must be so returned by the MPF Bank, in accordance with the provisions of the FHLB Guide referenced in and incorporated into the Services Agreement.

  • Whenever Agent receives a payment of any Loan Recoveries in connection with the Loan to which a Lender is entitled to its Commitment Percentage, Agent shall promptly pay to such Lender its Commitment Percentage thereof, subject to the provisions of Section 25(c) above.

  • The Lead Bank will receive and hold all Loan Recoveries with respect to the Designated Loan for the benefit of the Participant Bank.

  • The Participant Bank shall also pay to the Lead Bank any interest on such Loan Recoveries which was also rescinded or must be returned that the Lead Bank is obligated to pay or return to the Borrower.

  • All Loan Recoveries received by Agent in connection with the Loan or the Loan Documents shall be applied by Agent as set forth herein.

  • If all or part of any payment of Loan Recoveries or other amounts paid to the Lead Bank is rescinded or must otherwise be returned for any reason and if the Lead Bank has paid the same to the Participant Bank, then the Participant Bank shall pay to the Lead Bank an amount equal to the amount paid to the Participant Bank which was rescinded or which must be so returned by the Lead Bank, in accordance with the provisions of the FHLB Guide referenced in and incorporated into the Services Agreement.