Long Term Loans definition
Long Term Loans. In addition to the conditions precedent to the Credit Facility described in the Commitment Letter, Long-Term Loans shall be subject to the following conditions precedent as of the Closing Date: (i) Lender shall have satisfactorily completed its due diligence with respect to the Properties (including the review and approval of third party reports, zoning compliance and building code compliance) and the IP Collateral, the Long-Term Borrowers and the Guarantors; (
Long Term Loans means Mortgage Loans which finance or refinance the purchase or ownership of developed sites or of improved real estate and which provide for an amortization of the loan over a period of seven years or more;
Long Term Loans means Loans made under either Long-Term Facility.
More Definitions of Long Term Loans
Long Term Loans. The Long-Term Loans may be prepaid, in whole or in part, upon not less than 10 days' prior written notice, at the option of the applicable Long-Term Borrower at any time; PROVIDED that (a) each prepayment shall be in an amount not less than $5,000,000.00 and (b) if such prepayment is made prior to the first Payment Date occurring after the date that is 18 months from the Closing Date (the "LOCKOUT RELEASE DATE"), Lender shall receive a "SPREAD MAINTENANCE PREMIUM" in an amount equal to the product of (a) the principal amount of such prepayment, (b) the Interest Rate Spread and (c) a fraction, the numerator of which shall equal the actual number of days from the date of such payment through the Lockout Release Date and the denominator of which is 360. If any prepayment is made on a date other than a Payment Date, such prepayment shall be accompanied by interest accrued on such prepayment amount through and including the next succeeding Payment Date.
Long Term Loans. Two one-year extension options. Each such extension will be granted upon the request of Long-Term Borrowers, upon written notice to Lender not less than one (1) month nor more than six (6) months prior to the end of the current term, provided that, INTER ALIA, the following conditions are satisfied by Long-Term Borrowers: (i) there exists no event of default (or any event that, with the giving of notice or the passage of time or both would constitute an event of default) at the time the option is exercised or when the option commences, (ii) payment of an extension fee, with respect to the second extension option only, in an amount of 0.25% of the outstanding principal balance of the Loans, (iii) the purchase of an Interest Rate Cap for the extension period at a strike rate as set forth above, (iv) upon exercise of the second extension option, the Interest Rate Spread shall increase to 410 basis points and (v) immediately prior to the second extension, Debt Yield (hereinafter defined) for the Credit Facility shall be not less than 11%, including as the result of any permitted voluntary prepayment at such time in accordance herewith. The entire outstanding principal balance of each Loan, together with any accrued and unpaid interest thereon, shall be due and payable at the expiration of the term of such Loan and any extensions thereto.
Long Term Loans means, collectively, (i) the Restructured IFC Long-Term Loans, (ii) the Long-Term Dollar Notes, (iii) the Restructured IIC Long-Term Loans, and (iv) the Restructured CCC Long-Term Loans.
Long Term Loans means long term (with a maturity term longer than one-year) bank loans, inclusive of all accrued and unpaid interest and charges.
Long Term Loans means Receivables with an original term to maturity of greater than 60 months.
Long Term Loans. Loans with maturities from five to forty years, secured by a first lien on eligible real property, to an eligible agricultural borrower, and subject to certain eligibility requirements and loan purpose restrictions, loans to processing and marketing facilities, farm-related businesses, or rural residents.
Long Term Loans. 385 basis points INTEREST RATE CAP: Each Borrower will be required to purchase an interest rate cap (the "INTEREST RATE CAP") (i) for the initial term of its applicable Loan, at a 30-day LIBOR strike price which shall be no greater than 5.5%, and (ii) for any extension term of such Loan, at such strike price and on such terms and conditions as shall be acceptable to Lender in its sole discretion at such time. The Interest Rate Cap provider must be rated at least "AA" by Standard & Poor's Rating Services and Moody's Investors Service, Inc. and otherwise be ▇▇▇▇▇▇▇bly acceptable to Lender. Each Interest Rate Cap shall be in a notional amount equal to the aggregate amount of the applicable Loan.