LOC Loan definition

LOC Loan shall have the meaning set forth in Section 2.23.

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LOC Loan as defined in subsection 4.5(c).

LOC Loan shall have the meaning given to such term in the Loan Agreement dated as of February 14, 1996 by and between Village Farms of Texas, L.P., as borrower, Farm Credit Bank of Texas and Texas Production Credit Association, as lenders, and CoBank, as Administrative Agent.

Examples of LOC Loan in a sentence

The LOC Loan shall be payable on demand, shall be a Base Rate Loan, and shall be an Obligation hereunder.
Any LOC Loan Segment shall be treated as fully disbursed for purposes of determining the amount that Borrower may borrow under the Loan.
In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR LOC Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR LOC Loan for all purposes of this Agreement.
All such notations shall constitute prima facie evidence of the accuracy of the information so recorded and be enforceable against the Company with the same force and effect as if such amounts were each set forth in a separate DSR LOC Loan Note executed by the Company.
All such notations shall constitute prima facie evidence of the accuracy of the information so recorded and be enforceable against the Company with the same force and effect as if such amounts were each set forth in a separate CP LOC Loan Note executed by the Company.
In the case of the LOC Loan, the Interest Period may be selected at the time a request for an advance is made, in the manner required by the Bank for giving such notice.
Borrower must not have any outstanding Advances on the LOC Loan for at least ninety (90) consecutive days during in each twelve (12) month period following the date of this Agreement.
Whenever any payment hereunder or under the CP LOC Loan Note is stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be.
Item Processing Letter of Credit Deposits LOC Loan Payments Pledging Services Repurchase Agreements Safekeeping Stress Testing Model Wire Transfers.
Each CP LOC Loan shall mature and be repaid in full on the applicable CP LOC Loan Required Payment Date.

More Definitions of LOC Loan

LOC Loan has the meaning set forth in Section 1(a)(iii) of this Agreement.

LOC Loan means a Pooled Loan representing an advance under a Seller LOC offered to the related Obligor, together with the monthly maintenance fees under such Seller LOC, in each case, as modified from time to time pursuant to all Automatic LOC Payment Modifications with respect to such LOC Loan made in accordance with the terms of the applicable Loan Agreement in connection with each Subsequent LOC Advance under such LOC Loan; provided, however, that notwithstanding the foregoing, with respect to any Seller LOC and any advance thereunder, “LOC Loan” shall only include the Seller’s rights, title, interests, remedies, powers and privileges and obligation, if any, to receive payment and/or enforce remedies under such Seller LOC with regard to the fully disbursed portion of such Seller LOC represented by such advance and shall exclude the Seller’s rights, title, interests, remedies, powers and privileges to (i) make future advances under the Seller LOC under which such LOC Loan was originated and (ii) any subsequently disbursed portion of such Seller LOC unless and until transferred pursuant to the Loan Purchase Agreement.

LOC Loan means a Pooled Loan representing an advance under an OnDeck LOC offered to the related Obligor, together with the monthly maintenance fees under such OnDeck LOC, in each case, as modified from time to time pursuant to all Automatic LOC Payment Modifications with respect to such LOC Loan made in accordance with the terms of the applicable Loan Agreement in connection with each Subsequent LOC Advance under such LOC Loan; provided, however, that notwithstanding the foregoing, with respect to any OnDeck LOC and any advance thereunder, “LOC Loan” shall only include the Seller’s rights, title, interests, remedies, powers and privileges and obligation, if any, to receive payment and/or enforce remedies under such OnDeck LOC with regard to the fully disbursed portion of such OnDeck LOC represented by such advance and shall exclude the Seller’s rights, title, interests, remedies, powers and privileges to (i) make future advances under the OnDeck LOC under which such LOC Loan was originated and (ii) any subsequently disbursed portion of such OnDeck LOC unless and until transferred pursuant to the Loan Purchase Agreement.

LOC Loan shall have the meaning given to such term in Section 2.1(f)(ii).

LOC Loan means a Pooled Loan representing an advance under a Seller LOC offered to the related Obligor, together with the monthly maintenance fees under such Seller LOC, in each case, as modified from time to time pursuant to all Automatic LOC Payment Modifications with respect to such LOC Loan made in accordance with the terms of the applicable Loan Agreement in connection with each Subsequent LOC Advance under such LOC Loan; provided, however, that notwithstanding the foregoing, with respect to any Seller LOC and any advance thereunder, “LOC Loan” shall only include a Seller’s rights, title, interests, remedies, powers and privileges and obligation, if any, to receive payment and/or enforce remedies under such Seller LOC with regard to the fully disbursed portion of such Seller LOC represented by such advance and shall exclude such Seller’s rights, title, interests, remedies, powers and privileges to (i) make future advances under the Seller LOC under which such LOC Loan was originated and (ii) any subsequently disbursed portion of such Seller LOC unless and until transferred pursuant to the Loan Purchase Agreement.