NM Loan definition
Examples of NM Loan in a sentence
Any notice given to Mortgagee shall refer to NM Loan No. 338136 and NY Life Loan No. 374-0185.
In the case of each Borrowing of NM Loans, each NM Lender shall make the amount of its NM Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice.
Subject to the terms and conditions set forth herein and in the Interim Order, each Initial NM Lender agrees, severally and not jointly, to make a Term Loan (the “Initial NM Loans”) in Dollars to the Borrower on the Closing Date, equal to such Initial NM Lender’s NM Loan Percentage of the aggregate amount of the Initial NM Loan Amount, less an original issue discount of 3.00%.
Proceeds of each NM Loan made pursuant to this Agreement shall be remitted to the Collateral Account and, so long as no Default exists or would result, shall be available for withdrawal by the Borrower on a weekly basis to fund, subject to variances permitted under Section 8.19, expenses in accordance with the DIP Budget or the relevant Project Budget, pursuant to Section 2.03.
Upon each Revolving Borrowing of an NM Loan (other than a NM Loan the proceeds of which are used repay an LC Disbursement with respect to the Day Club CapEx LC or the Existing LC) made prior to the Final Effective Date, the Borrower shall simultaneously be deemed to have made a request for a Roll-Up Borrowing in a principal amount equal to the Roll-Up Ratio multiplied by the principal amount of such Revolving Borrowing of an NM Loan.
Subject to the terms and conditions set forth herein and in the Orders, each NM Lender agrees, severally and not jointly, to make an additional Term Loan (the “Additional NM Loans” and, together with the Initial NM Loans, the “NM Loans”) in Dollars to the Borrower on the Final Order Entry Date (or, if not practicable, on the following Business Day), equal to such Lender’s NM Loan Percentage of the aggregate amount of the NM Lender Delayed Draw Commitment Amount, less an original issue discount of 3.00%.
If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s NM Loan included in such Borrowing.
Each of the Borrower and each Lender agrees that on the Borrowing date of each Third Amendment NM Loan, the Borrower shall receive proceeds of such Loans based on a purchase price of 85.00% of the principal amount thereof (it being understood that if the Third Amendment Final Order is not entered, the Third Amendment NM Loan First Tranche Amount shall be deemed to have been issued at a purchase price of 98.00% of the principal amount thereof).