LOF definition

LOF means Lloyd’s Standard Form of Salvage Agreement, 2011 or any future amended version, the current edition of which is attached as Annex 3.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

LOF means Letter of Finding.

LOF shall have the meaning ascribed to such word in Section 2.3(a) hereof.

Examples of LOF in a sentence

• If Investor has enabled the “Auto Invest” feature on their LOF user account, Investor authorizes the Issuer to automatically execute and deliver the Subscription Agreement on Investor’s behalf for each Note purchased through Auto Invest, provided such Notes meet the investment criteria and do not cause Investor to exceed its self-set maximum investment amount; Investor further acknowledges that each such automated execution constitutes an irrevocable subscription upon acceptance.

• Upon such receipt by LOF or its processor, the borrower’s payment obligation on that installment is deemed satisfied as to the borrower (subject to returns or reversals; if a payment is returned, the borrower remains obligated).

• Borrower Loans generally close at the end of their 5-day listing period unless: • the borrower member withdraws the loan request prior to funding; • bids for the entire amount of the borrower member’s loan request have been received earlier, in which case the Borrower Loan will close earlier; or • the loan request is canceled by LOF for reasons relating to the operation and integrity of the LOF websites, such as attempted fraud or a failure to verify information upon request.

• Borrower remittances are deposited into LOF operating accounts and are not transmitted to investors.

• Mechanics Each Note is issued after Acceptance and ACH settlement, when LOF disburses the corresponding Borrower Loan proceeds from LOF’s general funds.

More Definitions of LOF

LOF means the food produced during a period of time indicated by a specific code.

LOF means to the firm of Lewis Overbeck & Furman, all predecessors and successors and all attorneys employed by, a member of or otherwise affiliated with LOF at any time.

LOF. “Issuer”, “I”, “we,” “us,” “our”). This Agreement will govern all purchases of Borrower Payment Dependent Notes (“Notes”) that you (“Investor”) may, from time to time, make from LOF. Any Note you purchase will be a special, limited obligation of LOF only and not an obligation of the borrower on the corresponding Borrower Loan (as defined below). The Note will be unsecured; you will not own the corresponding Borrower Loan and you will have no right to pursue the borrower on the corresponding Borrower Loan for payment of such loan or the Note tied to such loan. LOF offers and sells the Notes pursuant to an offering statement under Regulation A, Tier 2. LOF will not accept any subscription unless and until the offering statement has been qualified by the U.S. Securities and Exchange Commission, and will accept subscriptions only while such qualification—and any required state registrations, including Texas issuer-dealer and applicable agent registrations—remain effective. The Notes are offered pursuant to an Offering Circular (as supplemented from time to time, the “Offering Circular”). The Offering Circular contains detailed information about LOF’s operations, including risks, terms of the Notes, and the nature of the corresponding Borrower Loans. In consideration of the covenants, agreements, representations, and warranties hereinafter set forth, and for other good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:

LOF as at any date of determination, the ratio obtained by dividing (i) the sum of Cash Balances as at such date, and the present value at the Discount Rate of the projected Net Cash Flow derived from the Proved Reserves of the Etame Block Field(s) as certified in the most recent Reserve Certification and calculated using the Proved Reserves Criteria, the Agreed Oil Price and other IFC Base Case Assumptions, for the period commencing on the day following such determination date through the longest economic life of the Etame Block Field(s) as certified in such Reserve Certification; by (ii) the aggregate amount of principal outstanding and any overdue interest and other amounts owing on that date on or in respect of all Indebtedness for Borrowed Money of the Borrower (excluding any Subordinated Debt);

LOF means ▇▇▇▇▇’▇ Standard Form of Salvage Agreement,2000 2011 or any future amended version, the current edition of which is attached as Annex 3.

LOF means the Letter of Offer

LOF means each lot as depicted on the Plat, regardless of whether such lots are subsequently combined or otherwise modified.