Receivables Loan definition

Receivables Loan means the line of credit loan extended by Lender to Borrower in accordance with the terms of this Agreement in an outstanding principal amount not to exceed at any time the Maximum Receivables Loan Amount.

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Receivables Loan means that certain receivables loan in the aggregate principal amount of $50,000,000 extended to Borrower and certain of its Affiliates by Lender pursuant to the Receivables Loan Documentation.

Receivables Loan means a loan made in respect of the Receivables Finance Facility.

Examples of Receivables Loan in a sentence

• This Amendment shall constitute a Facility Document under the terms of the Receivables Loan Agreement as amended hereby.

• This Amendment does not constitute a novation or termination of the Receivables Loan Agreement or any Facility Document and all obligations thereunder are in all respects continuing with only the terms thereof being modified as provided herein.

• Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Receivables Loan Agreement.

• The Originator hereby further acknowledges that the execution and performance of this Agreement are conditions precedent for the Agent and the Lenders to enter into the Receivables Loan Agreement and that the agreement of the Agent and the Lenders to enter into the Receivables Loan Agreement will directly or indirectly benefit the Originator and constitutes good and valuable consideration for the rights and remedies of the Agent and each Lender with respect hereto.

• The Originator will perform and comply with each covenant and other undertaking in the Receivable Loan Agreement that the Company undertakes to cause the Originator to perform, subject to any grace periods for such performance provided for in the Receivables Loan Agreement.

More Definitions of Receivables Loan

Receivables Loan means, as the context requires, singly each Advance and collectively all Advances made by Lenders to Borrower under or pursuant to this Agreement.

Receivables Loan means that certain receivables loan extended to Bluegreen Corporation and/or its Affiliates pursuant to the Receivables Loan Documentation.

Receivables Loan has the meaning set forth in Section 6.1(c).

Receivables Loan as defined in the Background Statements. Receivables Loan Agreement: as defined in the Background Statements. Receivables Loan Documents: as defined in the Background Statements. Release Payment(s): as defined in Section 2.7(c) hereof. Release Percentage: at the context requires, the Release Percentage (Phase I/II) or the Release Percentage (Phase III). Release Percentage (Phase I/II): with respect to Encumbered Timeshare Product within Phase I/II and the release of the same from the lien of the Mortgage, a percentage which is calculated in the following manner: (i) on the Effective Date 5.18% and (ii) as of the Monthly Payment Date occurring in each of April, July, October and January throughout the Term commencing July 2015, the Release Percentage (Phase I/II) shall be recalculated to equal the (a) then unpaid principal balance of the Loan advanced against Encumbered Timeshare Product in Phase I/II (after adjusting for payments or Advances made on or under the Loan up to the time of such recalculation) (b) divided by the product of (i) the then Retail Value of the Encumbered Timeshare Product in Phase I/II (ii) multiplied by 75%. Notwithstanding periodic recalculations of the Release Percentage (Phase I/II), in no event shall the Release Percentage (Phase I/II) ever fall below 5% of the Retail Value. Release Percentage (Phase III): with respect to Encumbered Timeshare Product within Phase III and the release of the same from the lien of the Mortgage, a percentage which is calculated in the following manner. At the time of the End of Construction Advance, the percentage obtained when the (a) unpaid principal balance of the Loan advanced against Encumbered Timeshare Product in Phase III (b) is divided by the product of (i) the Retail Value of the Encumbered Timeshare Product in Phase III (ii) multiplied by 75%. Effective as of the Monthly Payment Date occurring in each of April, July, October and January throughout the Term commencing following the making of the End of Construction Advance, the Release Percentage (Phase III) shall be recalculated to equal the (a) then unpaid principal balance of the Loan advanced against Encumbered Timeshare Product in Phase III (after adjusting for payments or Advances made on or under the Loan up to the time of such recalculation) (b) divided by the product of (i) the then Retail Value of the Encumbered Timeshare Product in Phase III (ii) multiplied by 75%. Notwithstanding periodic recalculations of the Release Percentag...

Receivables Loan means an amount advanced by a Bank pursuant to Section 1.01(c).

Receivables Loan means the loan provided for in the Receivables Loan Agreement and the Loan Documents up to the Maximum Receivables Loan Amount.

Receivables Loan the revolving line of credit loan made pursuant to paragraph 2.1(b).