Refinanced definition

Refinanced means, in respect of any Debt, or the agreement or contract pursuant to which such Debt is incurred, (a) such Debt (or more than 20% of the principal amount thereof) or related agreement or contract is extended, renewed, defeased, refinanced, replaced, refunded or repaid, and (b) any other Debt issued in exchange or replacement for or to refinance such Debt (or more than 20% of the principal amount thereof), in whole or in part, whether with the same or different lenders, arrangers and/or agents and whether with a larger or smaller aggregate principal amount and/or a longer or shorter maturity, in each case to the extent permitted under the terms of the Credit Documents.
Refinanced means a borrower had difficulty repaying her loan, and therefore received extended maturity on her outstanding loan. There is no variable to describe default, since loan default is technically not permissible at TGMP. Instead, borrowers who have difficulty repaying their loans are initially guaranteed by their four group members. If the borrower continuously cannot repay her loan, she is considered a “refinanced” borrower. As such, refinanced borrowers include those who have “defaulted” on their loans.
Refinanced means any completed financing or loan transaction, issuance of debt, equity or hybrid securities, exchange offer, tender offer or other similar transaction, in each case in one or a series of transactions, regardless of the form or structure thereof, which results in the repayment or refinancing of or an extension of the maturity of the 2022 Notes.

Examples of Refinanced in a sentence

The Mortgagor has received all disclosure materials required by applicable law with respect to the making of mortgage loans of the same type as the Mortgage Loan and rescission materials required by applicable law if the Mortgage Loan is a Refinanced Mortgage Loan and has acknowledged receipt of such materials to the extent required by applicable law and such documents will remain in the Mortgage File.

The principal amount of any Indebtedness incurred to Refinance other Indebtedness, if incurred in a different currency from the Indebtedness being Refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on the date of such Refinancing.

The principal amount of any Indebtedness Incurred to Refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being Refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated that is in effect on the date of such Refinancing.

In no event shall Base Servicing Fees accrue concurrently on any day for a Refinanced Mortgage Loan and for a Mortgage Loan.

Subordinated Indebtedness, then such Refinancing Indebtedness shall be subordinate to the Notes or the relevant Note Guarantee, if applicable, at least to the same extent and in the same manner as the Indebtedness being Refinanced.


More Definitions of Refinanced

Refinanced means, in respect of any indebtedness, to refinance, replace or repay, or to issue other indebtedness, in exchange or replacement for, such indebtedness. “Refinance” and “Refinancing” shall have correlative meanings.