SBA Loans means (a) the loans listed on SCHEDULE 1.1(P) hereto (exclusive of any reserves for loan losses) and all obligations of a Seller to make additional extensions of credit in connection with such loans, as such loans may be increased, decreased, amended, renewed, or extended in the ordinary course of business between July 1, 1999 and the close of business on the Closing Date (included within such loans shall be any Letters of Credit and ISDA Transactions related to such loans), (b) loans originated at the Branches and made in the ordinary course of business between July 1, 1999 and the close of business on the Closing Date, which loans are secured by an SBA guaranty, whether in whole or in part (exclusive of any reserves for loan losses) (included within such loans shall be any Letters of Credit and ISDA Transactions related to such loans), and all obligations of a Seller to make additional extensions of credit in connection with such loans, as such loans may be increased, decreased, amended, renewed, or extended in the ordinary course of business between July 1, 1999 and the close of business on the Closing Date and (c) any application taken at a Branch in the ordinary course of business between the date hereof and the close of business on the Closing Date and pending on the Closing Date for a loan which would be secured by an SBA guaranty, whether in whole or in part; provided, however, that SBA Loans shall not include any loan described in subsections (a) or (b) above if such loan, as of the Closing Date, is (i) subject to a current legal proceeding related to a Customer's inability or refusal to pay such loan, (ii) not current and with respect to which proceedings are pending against the obligor or obligors of such loan under Title 11 of the United States Code or (iii) Nonperforming; and provided, further, that with respect to any such loan, to the extent that as of the Closing Purchaser shall not have received an SBA Consent, such loan shall no longer be deemed an "SBA Loan" hereunder and shall not be included in the Purchased Assets. Each SBA Loan shall include all documents executed or delivered in connection with such loan to the extent such documents are in the loan file relating to such loan, any and all collateral held as security therefor or in which a security interest, Lien or mortgage has been granted and any and all guarantees, insurance and other credit enhancements relating thereto, together with Accrued Interest thereon, all as exists at th...
SBA Loans means the following loans: (1) SBA Loan 4917845007 (Bank #16499) dated November 28, 2011 in the original loan amount of $421,000.00 entered into by Sanford HP, BH, and BHP, as borrowers; (2) SBA Loan 4917795005 (Bank #16498) dated November 28, 2011 in the original loan amount of $844,000.00 entered into by Sanford HP, BH, and BHP, as borrowers; (3) SBA Loan 4917955005 (Bank #16501) dated November 28, 2011 in the original loan amount of $636,000 entered into by Edenville HP, BH, BHP, as borrowers; (4) SBA Loan 4918065000 (Bank #16500) dated November 28, 2011 in the original loan amount of $1,297,000 entered into by Edenville HP, BH, BHP, as borrowers; (5) SBA Loan 49182850-07 (Bank #16504) dated November 28, 2011 in the original amount of $730,000 entered into by Secord HP, BH, BHP, as borrowers; (6) SBA Loan 49181950-04 (Bank #16503) dated November 28, 2011 in the original loan amount of $390,000 entered into by Secord HP, BH, BHP, as borrowers; and (7) SBA Loan 49183150-03 (Bank #16502) dated as of November 28, 2011 in the original loan amount $2,500,000 entered into by Sanford HP, BH, BHP, as borrowers.
Examples of SBA Loans in a sentence
Notwithstanding the foregoing, the Servicer shall not be required to make a Monthly Advance with respect to an SBA Loan if it determines, in good faith, that such advance would be nonrecoverable from amounts received in respect of the SBA Loans.
Subject to the terms of Section 9.01 herein, the Servicer shall have no obligation to appear with respect to, prosecute or defend any legal action which is not incidental to the Servicer's duty to service the SBA Loans in accordance with this Agreement.
The Trustee shall not be accountable for the use or application by the Servicer of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Servicer in respect of the SBA Loans or deposited in or withdrawn from the Principal and Interest Account by the Servicer.
The Trustee may reimburse the Servicer from the Expense Account pursuant to Section 6.03(c)(i) for all amounts advanced by it pursuant to the preceding sentence except when the claim relates directly to the failure of the Servicer to service and administer the SBA Loans in compliance with the terms of this Agreement.
Capital infusion is the aggregate amount from Form 641, Total Dollar Amount of SBA Loans, Total Dollar Amount of non- SBA loans and Dollar Amount of Equity Capital Received.
More Definitions of SBA Loans
SBA Loans means any loans made by ABL to small businesses and partially guaranteed by SBA, all originated in accordance with the SBA Rules and Regulations and pursuant to the authorization contained in Section 7(a) of the SBA Act.
SBA Loans means (i) certain Note Agreement, dated March 12, 2021, by and between the Seller and CalPrivate Bank, and (ii) that certain Note Agreement, dated July 29, 2020, by and between the Seller and the U.S. Small Business Administration, as modified by that certain Loan Modification Agreement dated October 10, 2021.
SBA Loans mean loans originated by or through or with the assistance of or the repayment of which is guaranteed, in whole or in part, by the Small Business Administration.
SBA Loans means loans made pursuant to Section 7(a) of the Small Business Investment Act of 1958, as amended.
SBA Loans means, collectively, the loans listed on Schedule 1.1(o) hereto and all obligations of Seller to make additional extensions of credit in connection with such loans, as such loans may be increased, decreased, amended, renewed, or extended in the ordinary course of business between the date of this Agreement and the close of business on the Closing Date; provided, however, that SBA Loans shall not include any loan described above if such loan, as of the Closing Date, is (i) subject to a current legal proceeding related to a Customer’s inability or refusal to pay such loan or (ii) not current and with respect to which proceedings are pending against the obligor or obligors of such loan under Title 11 of the United States Code; and provided, further, that with respect to any such loan, to the extent that as of the Closing, Purchaser shall not have received a SBA Consent, such loan shall no longer be deemed a “SBA Loan” hereunder. Each SBA Loan shall include all documents executed or delivered in connection with such loan to the extent such documents are in the loan file relating to such loan; Seller’s rights in and to any and all collateral held as security therefor or in which a security interest, Lien or mortgage has been granted; and all guarantees therefor; together with Accrued Interest thereon, all as exists at the close of business on the Closing Date.
SBA Loans means loans offered through SmartBiz by SmartBiz Lenders that are guaranteed, in part, by the Small Business Administration, as further described in Exhibit A.
SBA Loans means unsecured loans made to the Credit Parties in an aggregate principal amount not to exceed $10,000,000 pursuant to the PPP, used solely in accordance with PPP rules and regulations, to finance payroll, rent, mortgage interest, utilities or other expenses permitted under the PPP rules and regulations.