Net Loan Balance definition
Net Loan Balance means, with respect to any Eligible Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve.
Net Loan Balance means, as of the date it is to be determined, the difference of (a) the Aggregate Outstanding Loan Balance as of such date less (b) the Excess Concentration Amount as of such date.
Net Loan Balance. With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve.
Examples of Net Loan Balance in a sentence
At Closing, Buyer (or its successors and/or assigns) will receive a credit against the Purchase Price in an amount equal to the Net Loan Balance, as defined below.
The Borrower shall accept the release of each such Loan (or portion thereof, in the case of an Overconcentration Loan), and the Aggregate Outstanding Eligible Loan Balance shall be reduced by the Net Loan Balance (or portion thereof, in the case of an Overconcentration Loan) (as of the end of the most recent Collection Period) of each such Loan.
As used herein, “Equity” means the difference between the Purchase Price for the Membership Interests and the Net Loan Balance, as adjusted by credits and prorations provided for herein.
More Definitions of Net Loan Balance
Net Loan Balance means, with respect to any Dealer Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve.
Net Loan Balance. With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve. Nonconforming Contract: Defined in Section 6.2(c)(ii).
Net Loan Balance. Before January 1, 2020 (and on January 1, 2020 and thereafter if the Company has not adopted the CECL Methodology) with respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve. Beginning on January 1, 2020, so long as the Company has adopted the CECL Methodology, with respect to any Loan, the Outstanding Balance.
Net Loan Balance means, as of the date it is to be determined, the difference of (a) the Aggregate Outstanding Loan Balance as of such date less (b) the Excess Concentration Amount as of such date. “Non-Defaulting Lender” shall mean, at any time, a Lender that is not a Defaulting Lender or a Potential Defaulting Lender. “Non-Renewing Lender” is defined in Section 2.1(b). “Obligations” means all loans, advances, debts, liabilities and obligations, for monetary amounts owing by the Borrower to the Lenders, the Bank Parties, the Administrative Agent, the Managing Agents or any of their permitted assigns, as the case may be, whether due or to become due, matured or unmatured, liquidated or unliquidated, contingent or non-contingent, and all covenants and duties regarding such amounts, of any kind or nature, present or future, arising under or in respect of any of this Agreement, any other Transaction Document or any Fee Letter delivered in connection with the transactions contemplated by this Agreement, whether or not evidenced by any separate note, agreement or other instrument. This term includes, without limitation, all principal, interest (including interest that accrues after the commencement against the Borrower of any action under the Bankruptcy Code), Commitment Fees, Unused Fees, Minimum Earnings Fees and other fees, including, without limitation, any and all arrangement fees, loan fees, facility fees, and any and all other fees, expenses, costs or other sums (including attorney costs) chargeable to the Borrower under any of the Transaction Documents. “Obligor” means, with respect to any Loan, the Person or Persons obligated to make payments pursuant to such Loan, including any guarantor thereof. For purposes of calculating the Advance Rate, Excess Concentration Amount and LTV, all Loans included in the Collateral or to become part of the Collateral the Obligor of which is an Affiliate of another Obligor shall be
Net Loan Balance means as of any date of determination, the excess of (a) the aggregate Adjusted Outstanding Loan Balances of Eligible Loans over (b) the Excess Concentration Balance at such time. For purposes of calculating the Net Loan Balance, the aggregate Adjusted Outstanding Loan Balances of Eligible Loans shall be calculated as if reduced by the aggregate amount of Principal Collections received that have not been applied to any corresponding Loans on the records of the Servicer.
Net Loan Balance means, as of the date it is to be determined, the difference of (a) the Aggregate Outstanding Loan Balance as of such date less (b) the Excess Concentration Amount as of such date. “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all affected Lenders in accordance with the terms of Section 12.1 and (b) has been approved by the Required Lenders. “Non-Defaulting Lender” shall mean, at any time, a Lender that is not a Defaulting Lender or a Potential Defaulting Lender. “Non-Renewing Lender” is defined in Section 2.1(b). “Obligations” means all loans, advances, debts, liabilities and obligations, for monetary amounts owing by the Borrower to the Lenders, the Bank Parties, the Administrative Agent, the
Net Loan Balance. With respect to any Loan, the excess of the related Outstanding Balance over the related Loan Loss Reserve. Net Yield Percentage: For any Collection Period, the ratio, expressed as a percentage, the numerator of which is equal to the product of (i) 12 and (ii) the excess of (A) the product of (I) Collections (for the respective Collection Period) and (II) 20% over the (B) the sum of amounts distributed under Section 2.7(a)(i) through (v) and the denominator of which is equal to the Capital as of the first day of such Collection Period. Nonconforming Contract: Defined in Section 6.2(c)(ii). Nonconforming Contract Payment Amount: With respect to a Nonconforming Contract, an amount equal to the sum of (i): (x) the product of the Outstanding Balance of such Contract as of the last day of the related Collection Period and a fraction, the numerator of which is Capital as of the Funding Date and the denominator of which is the Outstanding Balance of Eligible Contracts as of the Funding Date; (ii) accrued and unpaid Carrying Costs, Increased Costs, Indemnified Amounts and Additional Amounts related to such Contract through the date of such deposit; (iii) any related Servicer Advances; and (iv) and all Hedge Costs due to the relevant Hedge Counterparties for any termination in whole or in part of one or more transactions related to the relevant Hedging Agreement, as required by the terms of any Hedging Agreement. Nonextending Investor: Defined in Section 2.1(b)(ii).