Operating Loan definition

Operating Loan as defined in Section 2.5.

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Operating Loan means any Loan used to finance working capital and current or seasonal assets (e.g., inventories and accounts receivable) with an original maturity date of fourteen (14) months or less.

Operating Loan means any interfund loan, or portion thereof, that is not a capital loan, including any interfund loan, or portion thereof, made for the purpose of paying operating expenses. [Formerly 294.460; 2013 c.338 §14]

Examples of Operating Loan in a sentence

• Each Operating Loan shall be nonrecourse to the Partners, and shall be repayable out of 50% of the available Net Operating Income or Sale or Refinancing Proceeds in accordance with Article XI of this Agreement.

• Any such Operating Loan shall be funded to the Custodian Reserve Account.

• The Bank may demand the payment of principal and interest under the Operating Loan (and any other uncommitted facility) hereunder and cancel any undrawn portion of the Operating Loan (and any other uncommitted facility) hereunder, at any time whether or not an Event of Default has occurred.

• The Borrower shall repay any Operating Loan on the related Repayment Date.

• The occurrence of an Event of Default is not a precondition to the Bank’s right to accelerate repayment and cancel the availability of the Operating Loan.

More Definitions of Operating Loan

Operating Loan means the operating loan in the amount of up to $2 million made by a bank to the Company.

Operating Loan means the operating loan made by the Bank to the Partnership.

Operating Loan means a loan by a Member to the Company pursuant to Article VII and shall be evidenced by an “Operating Note.”

Operating Loan has the meaning given in Section 2.1(b).

Operating Loan means a Loan under the Operating Facility.

Operating Loan and “Operating Loans” means one or more loans by Manager or an Affiliate of Manager required to be made pursuant to this Agreement, on terms and conditions reasonably acceptable to the Manager and City and with an interest rate not to exceed the “prime rate” as shown from time to time in the Wall Street Journal, plus one percent (1%), the proceeds of which are used to pay Operating Expenses.

Operating Loan means the loan agreement entered into between the Company, Samper Developments Ltd. and Sky Ascent Financial Group Inc. dated September 17, 2019 as amended on December 31, 2019.