REC Loan definition
REC Loan means a Tranche C Loan which the Borrower has requested on the basis of the satisfaction (or waiver in accordance with the terms thereof) of the conditions set forth in Section 3.5 of the Credit Agreement
REC Loan means the anticipated $360,000 loan from North West Rural Electric Cooperative.
REC Loan means the loan made pursuant to the REC Loan Agreement and evidenced by the REC Note.
Examples of REC Loan in a sentence
The Borrower may not submit a Notice of Borrowing in respect of Tranche C Loans that are REC Loans on or after the REC Loan Availability Termination Date.
Delivery to Administrative Agent of a Notice of Tranche C Borrowing in the form of Exhibit D-3A, in accordance with Section 2.3(b), which Notice of Tranche C Loan Borrowing shall state the applicable Projects (and REC Documents) to which such Tranche C Loan that is a REC Loan relates and include a certification as to certain of the matters set forth in this Section 3.5.
The REC Loan Availability Termination Date shall not have occurred.