SIB Loan definition

SIB Loan means Loan # 231001/ PID # 115599 made by and through the State of Ohio - ODOT State Infrastructure Bank Federal Loan Program, in the principal amount of $7,000,000, plus interest and fees, to the TID, as further set forth in the SIB Loan Documents on file with ODOT, ETNA, PATASKALA, the TID and the COUNTY.
Sample 1Sample 2
SIB Loan means that certain draw down loan extended by the SIB to the City and the County in the original principal amount of $18,240,000, but in no event to exceed $28,095,903.00 in the total principal amount.
Sample 1
SIB Loan means collectively, the State funded State Infrastructure Loan made to the Authority by the State of Florida Department of Transportation (“FDOT”) pursuant to that certain Loan Agreement dated February 1, 2006 in the initial principal amount of $4,500,000 (the “Original SIB Loan”) and the State-Funded State Infrastructure Loan to be made to the Authority by FDOT in a principal amount not exceeding $4,000,000 to be used to finance a portion of the Berth Rehabilitation Project (the “New SIB Loan”).
Sample 1

Examples of SIB Loan in a sentence

  • The Borrower shall be in default if it fails to repay the SIB Loan (the Principal Payments and the Interest Payments) or otherwise fails to comply with any term of this Agreement.

  • The SIB Loan will not bear interest, but will be repaid in full by the Developer on or before the Financial Close Date or as required by the terms of Section 20.04 if this Agreement is terminated for failure to reach Financial Close by the Financial Close Deadline.

  • Information on the SIB Loan application process is contained in Exhibit Y.

  • In the event the CTB terminates this Agreement pursuant to Section 5.1, the SIB Borrower shall cease all further Early Work and, within ten (10) business days following delivery of notice of termination, the SIB Borrower: (i) shall wire to an account designated by the Department a sum equal to the outstanding amount of the SIB Loan.

  • Upon the occurrence of an Event of Default that has not been fully cured within the specified timeframe, the CTB may elect, by delivery of notice to the SIB Borrower, to terminate this Agreement and to require immediate repayment of the SIB Loan in full subject to the provisions of Section 4.2 and/or to resort to any other available remedies, including those liabilities outlined in Section 20.04 of the Comprehensive Agreement.

  • The SIB Loan will be limited recourse in nature and will be due and payable as required by Section 3.3. The SIB Borrower covenants and agrees to repay the SIB Loan from funds available for the Project as identified in this Agreement, the Comprehensive Agreement and the Project Financing Agreements.

  • The entire principal of the SIB Loan shall be due and payable on the earliest to occur of the following: (i) the Financial Close Date (as defined by the Comprehensive Agreement), (ii) the occurrence of a default under this Agreement or the Comprehensive Agreement or (iii) on or before the terms outlined in Section 350(e)(7) of the National Highway Designation Act of 1995.

  • All capitalized terms used herein which are defined in the SIB Loan Agreement shall have the same meanings herein as therein.

  • The SIB Borrower hereby covenants and agrees that so long as the SIB Loan is outstanding, the design and construction of the Project will comply with all Federal requirements that generally apply to projects under Title 23 to the extent applicable to the loan of federal funds under this Agreement for the purposes set forth in Section 3.4.

  • The Borrower shall not use the SIB Loan Proceeds for any purpose other than that described in this Agreement.


More Definitions of SIB Loan

SIB Loan has the meaning ascribed thereto in Section 7.06(d). Signage Plan is defined as the Construction Documentation associated with the signage elements of the Project.
Sample 1
SIB Loan means the $30,000,000.00 financing to be obtained by FEC from the SIB.
Sample 1

Related to SIB Loan

  • Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Term Loan as defined in Section 2.1.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Term B Loan is defined in Section 2.2(a)(ii) hereof.

  • Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Term C Loan is defined in Section 2.2(a)(iii) hereof.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • Term A-2 Loan means an advance made by any Term A-2 Lender under the Term A-2 Facility.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Revolving Loan Note means a promissory note in the form of Exhibit 2.5-1, as it may be amended, supplemented or otherwise modified from time to time.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Revolving Loan has the meaning specified in Section 2.01(a).