Permitted Subordinate Loans definition
Permitted Subordinate Loans means (i) that certain loan in the original principal amount of $653,000.00 made by Borrower in favor of Seven Hills Charter School, Inc. and Seven Hills Charter School on November 25, 1997, (ii) that certain loan in the original principal amount of $7,407,500.00 made by Borrower in favor of The Charter School for Applied Technologies on June 27, 2001, (iii) that certain loan in the original principal amount of $4,343,112.94 made by Borrower in favor of Friendship Public Charter School, Inc. on November 8, 2000 and (iv) that certain loan in the original principal amount of $8,500,000.00 made by Borrower in favor of The Renaissance Academy-Edison Charter School on March 30, 2000.