NRLC definition
Examples of NRLC in a sentence
Each of the Credit Parties agrees to sign such other and further documents, and to take such other actions, as may be reasonably appropriate to carry out the intentions expressed in this Agreement, including, without limitation, documentation in respect of the reaffirmation and confirmation of liens, and the priority of such liens, on the collateral for the NRLC.
Bishops and priests used their influence to meet with local political leaders to plead for a pro-life agenda, and fund local efforts to support pregnant women considering abortion.23 As the first pro-life organization, NRLC became the blueprint for pro life tactics in the United States.
Subject to the conditions herein set forth, and subject to the payment of a commitment fee in the amount of $31,000 (50 basis points), to the Lender by Borrower, Lender agrees to make the NRLC available to or for the benefit of Borrower, and Borrower may draw upon the NRLC, in the manner and upon the terms and conditions herein expressed, amounts that shall not exceed the Maximum NRLC Loan Amount.
No NRLC Advance shall be made on or after the NRLC Maturity Date.
Notwithstanding any partial prepayment of principal under the NRLC, there shall be no change in the due date or the amount of any scheduled payment with respect to the NRLC unless Lender, in its sole discretion, agrees in writing to such change.
Although the outstanding principal of the NRLC Note may be zero from time to time, the Loan Documents shall remain in full force and effect until the Commitment terminates and all Obligations are paid and performed in full.
However, Lender in its sole and absolute discretion may elect to make one or more NRLC Advances prior to full satisfaction of one or more such conditions and/or requirements.
The NRLC shall be a non-revolving line of credit, against which NRLC Advances may be made to Borrower, and repaid by Borrower.
Borrower’s delivery of the $7,500.00 fee to Lender in consideration for Lender temporarily increasing the Maximum NRLC Loan Amount.
The Loan is evidenced by and made pursuant to the terms and conditions contained in that certain NRLC Note, dated of even date herewith, in the original principal amount of $6,200,000.00, as the same may be extended, supplemented, consolidated, amended, replaced, renewed, increased, modified or restated (the “Note”).