Subordinated Loan Commitment definition

Subordinated Loan Commitment means the obligation of the Lender to make Subordinated Loans hereunder in an aggregate principal amount not exceeding $300,000,000.

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Subordinated Loan Commitment means the obligation of the Lender to make Subordinated Loans hereunder in an aggregate principal amount not exceeding $300,000,000. “Subordinated Loan Documents” shall mean, collectively, this Agreement, the Subordination Agreement, the Subordinated Note, and each Notice of Borrowing. “Subordinated Loan Interest Rate” shall mean (i) from the Closing Date through April 30, 2018, 5.75% per annum, (ii) from May 1, 2018 through April 30, 2020, 7.75% per annum, (iii) from May 1, 2020 through April 30, 2022, 8.75% per annum, and (iv) thereafter, 9.75% per annum. “Subordinated Note” shall mean a promissory note of the Borrower payable to the Lender in the principal amount of the Subordinated Loan Commitment, in substantially the form of Exhibit A. “Subordination Agreement” shall mean, so long as such agreement is in effect, that certain Subordination Agreement, dated as of the date hereof, among the Lender, the Senior Agent, and the Borrower, as the same may be amended, restated, amended and restated, supplemented, modified, refunded, replaced or refinanced from time to time. “Subsidiary” shall mean as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the Board of Directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person.

Subordinated Loan Commitment means at any time with respect to a Subordinated Facilities Lender, the aggregate principal amount of their Loan under the Subordinated Bilateral Credit Facility Agreement to which it is a party.

Examples of Subordinated Loan Commitment in a sentence

Subject to the terms and conditions set forth herein, the Lender agrees to make subordinated term loans (each, a “Subordinated Loan” and, collectively, the “Subordinated Loans”) to the Borrower during the Availability Period in an aggregate principal amount not exceeding the Subordinated Loan Commitment.
Unless previously terminated, the Subordinated Loan Commitment shall terminate on the last day of the Availability Period.
Subject to the terms and conditions set forth herein, the Lender agrees to make subordinated term loans (the “Subordinated Loans”) to the Borrower in a maximum aggregate principal amount equal to the Subordinated Loan Commitment.
The Company may draw under the Subordinated Loan Facility from (and including) the date of this Agreement to (and including) the Completion Date, upon which date any undrawn amount of the Total Subordinated Loan Commitment shall be immediately cancelled and the Company shall not be entitled to request further Drawings.
Subject to the terms and conditions set forth herein, the Lender agrees to make subordinated term loans (each, a “Subordinated Loan” and, collectively, the “Subordinated Loans”) to the Borrower during theSubordinated Loan CommitmentAvailability Period in an aggregate principal amount outstanding at any time that will not result in the aggregate Subordinated Loans exceeding the Subordinated Loan Commitment.
On and subject to the terms of this Agreement, each Subordinated Lender agrees to make available to the Company loans in United States dollars and Chilean pesos in an aggregate amount equal to such Subordinated Lender’s Subordinated Loan Commitment.
Each Lender shall have received from the Borrowers payment of a closing fee, in cash, in an amount equal to the product of (i) 40 basis points and (ii) such Lender’s Subordinated Loan Commitment.
B▇: /▇/ DICK FAGERSTAL ---------------------------------- Senior Vice President SHIPOWNER: CHILES GALILEO LLC BY: /▇/ ▇▇▇▇ ▇▇▇ERSTAL ---------------------------------- Senior Vice President EXHIBIT A Reference is made to Section 5 of the Subordinated Loan Commitment by Chiles Offshore Inc.
The Borrower, the Senior Lender and the Subordinated Lender acknowledge and agree that the Subordinated Loan Commitment is hereby made by the Subordinated Lender pursuant to the authority granted to it by and under EESA.
Immediately upon the execution and delivery of this Agreement, the Company shall have available under the Subordinated Loan Commitment, as required, from Chiles Offshore Inc.

More Definitions of Subordinated Loan Commitment

Subordinated Loan Commitment has the meaning set forth in Schedule 5 to this Agreement;

Subordinated Loan Commitment means, for each Lender, the principal amount set forth beside such Lender’s name on Schedule I attached hereto.