Select Loan definition
Select Loan means a Loan for which, pursuant to an agreed designation by the Parties as contemplated by Schedule 35 to the Asset Sale Agreement, the related Asset is not offered for sale to PFL pursuant to Schedule 2 to the Asset Sale Agreement and is instead designated as a “Select Loan”; ” provided, that to the extent Bank elects not to sell any Select Loan Identified For Purchase (as defined in the Asset Sale Agreement), such Loan shall no longer be deemed to be a Select Loan for purposes of this Agreement and the Asset Sale Agreement.