Silver Loan definition

Silver Loan has the meaning specified in Section 6.19.
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Silver Loan means a special loan that includes at least a commitment of two borrowers or a borrower and a guarantor, as well as the encumbrance of any property that constitutes another security of repayment of the loan (there is no limit on the ratio of the value of the property to the value of the loan).
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Examples of Silver Loan in a sentence

  • The Holder is unconditionally and absolutely authorized and directed by the Borrower to record on the attached Schedule A (i) the date and amount of each advance made by the Holder and the resulting increase in the Silver Loan Amount, and (ii) the date and amount of each repayment on account of outstanding Obligations paid to the Holder and the resulting decrease in the Silver Loan Amount.

  • Such notations, in the absence of manifest mathematical error, is prima facie evidence of such advances, repayments and the outstanding Silver Loan Amount, as adjusted from time to time.

  • The Make Whole Fee shall be due and payable on the date on which the Silver Loan Amount is repaid in full.

  • The failure to record the date and amount of any advance on the attached Schedule A shall not limit or otherwise affect the obligation of the Borrower to repay the Silver Loan Amount of the advances actually made by the Holder together with all interest accruing on such principal amount.

  • With respect to each Prepayment, the “Early Termination Fee” shall be an amount equal to: [Redacted – Commercial Information] x such Silver Loan Amount being prepaid x [Redacted – Commercial Information] (the original life of the loan), less all previously paid interest payments, including the first-year interest reserve held by the Holder.

  • Notwithstanding the foregoing, to the extent the Holder has not received payment of at least [Redacted – Commercial Information] of the interest owed under the Note on and when the Silver Loan Amount is repaid in full hereunder, the Borrower shall pay a fee (the “Make Whole Fee”) equal to such amount that will enable the Holder to receive [Redacted – Commercial Information] of the interest owed hereunder.

  • The Make Whole Fee shall be an amount equal to: [Redacted – Commercial Information] x the initial Silver Loan Amount being repaid x [Redacted – Commercial Information] (the original life of the loan), less all previously paid interest payments, including any Early Termination Fee and the first-year interest reserve held by the Holder.