MOA Loan definition
MOA Loan means an amount not exceeding $9,900,000 or such other amount being the commitment available to the Borrowers, as joint and several borrowers, by Lloyds TSB Bank plc, as lender, under the MOA Loan Agreement;
Examples of MOA Loan in a sentence
The Lenders have agreed to make available to the Borrowers, as joint and several borrowers, a loan facility of up to the lesser of (i) $83,250,000; and (ii) 75% of the Appraised Market Value of the Vessels for the purpose of providing post-delivery finance to assist the Borrowers in financing (a) (in part) their purchase of the Vessels from the Seller pursuant to the MOAs and (b) the repayment of the MOA Loan in accordance with the terms of the MOA Loan Agreement.