Examples of Subordinated Loan in a sentence
Subordinated Loan Agreement Pursuant to a subordinated loan agreement entered into betweenthe Sellers and the Guarantor, dated 14 November 2008, as subsequently amended (the "Subordinated Loan Agreement") each of the Sellers granted to the Guarantor a subordinated loan (the "Subordinated Loan") with a maximum amount equal to the relevant individual commitment limit as specified in the Subordinated Loan Agreement (each, the "Individual Commitment Limit").
On November 21, 2019, given that CIBC had advised Bentley that it would not advance new funds under the CIBC Loan after November 26, 2019, and that the decision in respect to the CIBC Condition would not be known until early December 2019, Bentley, as borrower, Bentley Development, as guarantor, and HUK 89 Limited, as lender (the “ Huk 89”), entered into a Subordinated Loan and Security in order to make available to Bentley a loan in the aggregate principal amount of $5 million (the “Interim Loan”).
The portion of Aggregate Premium Interests to be paid to each of the Sellers (the "Individual Premium Interests") will be determined on the basis of the formula to be agreed from time to time by the parties pursuant to the terms of the Subordinated Loan Agreement.
Each advance granted pursuant to the Subordinated Loan Agreement shall be identified in (i) a term loan advanced to fund the purchase price of Receivables to be sold in the framework of an Issuance Assignment (the "Issuance Advance"); and (ii) a term loan advanced for the purpose of purchasing further Eligible Assets and/or Integration Assets in the framework of an Integration Assignment (the "Integration Advance").