PNC Term Loan definition

PNC Term Loan has the meaning specified in the Intercreditor Agreement
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PNC Term Loan means the term loans made pursuant to the PNC Term Loan Agreement, which PNC Term Loan has an aggregate principal balance outstanding of $32,415,923.15 as of the date hereof.
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PNC Term Loan means the term loan between Borrowers and PNC in the original principal amount of $5,000,000.00 pursuant to the PNC Term Loan Documents and any amendments, extensions, modifications, replacements or substitutions to such loan.
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Examples of PNC Term Loan in a sentence

  • Interest on borrowings under the PNC Line and the PNC Term Loan is based on short-term market rates, which may be further adjusted based upon the Company maintaining certain financial ratios.

  • As a condition of the PNC Line and the PNC Term Loan, the Company is required to maintain certain levels of net worth, working capital and other financial ratios; to limit the amount of capital expenditures it may incur without PNC Bank’s approval; and to restrict the payment of dividends.

  • Interest incurred from borrowings under the PNC Line and the PNC Term Loan is based on short-term market rates, which may be further adjusted based upon the Company maintaining certain financial ratios.

  • The PNC Term Loan bore interest at Prime plus 9% or LIBOR plus 10% per annum at the Company’s election.

  • As a condition of the PNC Line and the PNC Term Loan, the Company is required to maintain certain levels of net worth, working capital and other financial ratios; to limit the amount of capital expenditures it may incur without PNC Bank's approval; and to restrict the payment of dividends.

  • In connection with the execution of the PNC Term Loan Agreement, GPM will execute a guaranty with respect to the PNC Term Debt.

  • This Agreement ----------------------------------------------- shall become effective upon disbursement of the Chase Term Loan by Chase, payment, termination and cancellation of the PNC Term Loan, Chemical Term Loan and Silicon Letter of Credit, and related agreements, and entering into the Security Agreement, Bayer Mortgage and Intercreditor Agreement as referred to in the recitals to this Agreement.

  • Borrowings under the PNC Term Loan were $10,000,000 through June 30, 1999 and scheduled quarterly principal payments commenced on September 30, 1999.

  • The terms of each of the PNC Term Loan Documents and Affiliate Loan Documents shall be satisfactory to the Administrative Agent and the Lenders, and the Borrower shall have delivered copies of each of the PNC Term Loan Documents and Affiliate Loan Documents to the Administrative Agent, certified by a Responsible Officer of the Borrower as being true, correct and complete.

  • An entity applies IAS 37 or other Standards, as appropriate, to any liabilities that it retains after disposal of an investment property.


More Definitions of PNC Term Loan

PNC Term Loan shall have the meaning set forth in the Recitals.
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PNC Term Loan the term loan in the initial principal amount ------------- of $10,000,000 made by PNC to the Borrower pursuant to the PNC Letter Agreement.
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Related to PNC Term Loan

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • New Term Loan shall have the meaning provided in Section 2.14(c).

  • Tranche B Term Loan as defined in Section 2.1.

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Tranche C Term Loan as defined in Section 2.1.

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.

  • Additional Term Loan has the meaning specified in Section 2.01(c).

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Tranche A Term Loan as defined in Section 2.1.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Eurodollar Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 or 9.02(c)(i).

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • New Term Loans as defined in Section 2.24.

  • Additional Term Loans means any term loan added pursuant to Section 2.22, 2.23 or 9.02(c)(i).

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Replacement Term Loans has the meaning specified in Section 10.01.

  • Original Term Loans means the "Term Loans" under, and as defined in, the Original Credit Agreement.

  • Tranche B Term Loan Lender each Lender that has a Tranche B Term Loan Commitment or is the holder of a Tranche B Term Loan.

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche A Term Loan Lender each Lender that has a Tranche A Term Loan Commitment or is the holder of a Tranche A Term Loan.