Redemption Loan definition
Examples of Redemption Loan in a sentence
The Partnership shall pledge the Investment Notes to secure obligations of the Partnership under the Equity Redemption Loan.
Each Loan Tranche may be an Index-Linked Redemption Loan Tranche, a Bullet Loan Tranche, a Scheduled Repayment Loan Tranche, a Controlled Repayment Loan Tranche, a Pass-Through Loan Tranche or a combination of any of the foregoing, depending upon the Redemption/Payment Basis shown in the applicable Loan Tranche Supplement.
In addition, upon the closing of the Equity Redemption Loan, the Partnership will pay its proportionate share of the closing fee in the approximate aggregate amount of $116,000.
The proceeds of the Equity Redemption Loan and Prudential Guarantied Loan shall be applied to make the Investment Loan and acquire the Investment Notes on the date hereof.
Interest on the outstanding indebtedness under the Equity Redemption Loan shall accrue at a rate equal to the 30 day Eurodollar rate plus 50 basis points.
You shall have obtained the Prudential Guarantied Loan and Equity Redemption Loan or the closing of such loans shall occur concurrently with the closing of the transactions contemplated herein; and the lenders of the Prudential Guarantied Loan and Equity Redemption Loan shall have made available to you in full the proceeds of the Prudential Guarantied Loan and Equity Redemption Loan.
Equity Redemption Loan, Prudential --------------------------------------------------- Guarantied Loan, Existing Loans and Replacement Loans.
In the event that the Buyer has advanced funds to the Company pursuant to the Stock Redemption Loan either the Buyer or the Company may elect to offset outstanding amounts under the Stock Redemption Loan against any termination fee to be paid pursuant to this Section 8.3(c).
Further, the Investment Notes are free and clear of all liens and third party interests on the date hereof (other than the interests and rights in favor of PIC under the Redemption Agreement and any pledge of the Investment Notes securing the Equity Redemption Loan (as defined in the Redemption Agreement)), and on the Closing Date, the Remainder Notes shall be free and clear of all liens and third party interests of any kind or nature, except as created by this Agreement.
The Company shall only use the proceeds of the Stock Redemption Loan for the redemption of shares of the Company Series A Preferred Stock, and, if no such redemption occurs in connection with an effective date for redemption (whether due to conversion of such shares of Company Series A Preferred Stock into shares of Company Common Stock or otherwise), then all amounts of the Stock Redemption Loan will be repaid to the Buyer according to the terms of the Loan agreement.