Merchant Loan definition

Merchant Loan a business credit card line of credit available to Borrower Group in the principal amount of $250,000.00, as described and governed by Lender’s Standard Business Credit Card Terms, which are incorporated herein by this reference.
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Examples of Merchant Loan in a sentence

  • You shall make all payments due from you to DTB using our M-Pesa Till Number or any other avenue availed by DTB for loan repayments as will be availed on the DTB Merchant Loan Product menus.

  • You hereby expressly consent and authorize DTB to disclose, respond, advise exchange and communicate the details or information pertaining to your DTB Merchant Loan Product Account to Credit Reference Bureaus as required under the banking Act or any other regulatory body.

  • The $350.000.00 Merchant Loan will be used as a business credit card line of credit facility, and will be used by the Borrower Group for furtherance of Borrower Group’s business purposes.

  • In addition to securing the liabilities, obligations and responsibilities of the Borrower Group described therein, the Instruments of Security are hereby modified and amended so that they shall hereafter also secure the full payment and performance by the Borrower Group of all their respective liabilities, obligations, and responsibilities under the 2013 RLC Note, 2013 Term Note, and New Merchant Loan Documents.

  • The Merchant Loan will be used as a business credit card line of credit facility, and will be used by the Borrower Group for furtherance of Borrower Group’s business purposes.

  • On or about the date hereof, the Borrower Group has requested that Lender: (i) reduce the face amount of the RLC Note from $1,500,000.00 to $750,000.00; (ii) increase the face amount of the Term Note from $3,500,000.00 to $5,785,457.50; (iii) increase the amount of the Merchant Loan to $350,000.00; and (iv) modify numerous terms and provisions of the Initial Loan Documents (collectively the “Modified Initial Loan Documents”).

  • Merchant Loan Sales BROKER has the authority to contract with referral sources to receive a referral fee up to 1%.

  • The Merchant Loan Documents are hereby modified so that they evidence and secure a credit card merchant loan from Lender to Borrower Group in the amount of $350,000.00 (the “New Merchant Loan Documents”).

  • The RLC Loan, Term Loan, and Merchant Loan will be sometimes collectively referred to below as the “Loans”.