Term Loan Account definition

Term Loan Account means the account on the books of the Lender in the name of the Borrower in which the following shall be recorded: the principal outstanding and interest accrued under the Term Loan; all Costs with respect to the Term Loan; all payments made by the Borrower on account of indebtedness evidenced by the Term Note; and other appropriate debits and credits.
Term Loan Account means the account opened and maintained by the Borrower in the books of .
Term Loan Account means Agent's US Dollar account number 07236272493 in the name of Agent at Fifth Third Bank -- Cincinnati, ABA# 000-000-000, Account Name: Guggenheim Corporate Funding, or such other account(s) as may be specified in writing by Agent as the "Term Loan Account".

Examples of Term Loan Account in a sentence

  • First charge on fixed asset of Durgapur Unit is already held by Punjab National bank on Term Loan Account and therefore taking the estimated market value of the fixed asset, short term borrowings have been classified as secured.

  • The Bank shall maintain on its books a record of account in which the Bank shall make entries setting forth all payments made, the application of such payments to interest and principal, accrued and unpaid interest (if any) and the outstanding principal balance under the Term Loan (the "Term Loan Account").

  • The principal and the amounts of all payments on the Term Note shall be recorded by the Lender in the Term Loan Account of the Borrower.

  • The Bank shall provide the Borrower with a monthly statement of the Borrower's Term Loan Account, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Borrower notifies the Bank to the contrary within 30 days after the Borrower's receipt of any such statement which it deems to be incorrect.

  • All statements regarding the Term Loan Account shall be deemed to be accurate absent manifest error or unless objected to by the Borrower within 30 days after receipt.


More Definitions of Term Loan Account

Term Loan Account the deposit account into which proceeds of the Term Loans are funded on the Effective Date.
Term Loan Account has the meaning set forth in Section 2.6(c).
Term Loan Account is defined in Section 2.3.2. -----------------
Term Loan Account shall have the meaning assigned to it in Section 1.10.
Term Loan Account means the bookkeeping account established by each Term Loan Bank in the name of the Borrower pursuant to Subsection 2.1g hereof.
Term Loan Account means an account maintained hereunder by Administrative Agent on its books of account, at Administrative Agent’s office and with respect to the Borrower, in which the Borrower will be charged with all Term Loans made to, and all other Obligations incurred by, the Borrower in connection with the Term Loan facilities.
Term Loan Account. The Bank shall maintain on its books a record of account in which the Bank shall make entries setting forth all payments made, the application of such payments to interest and principal, accrued and unpaid interest (if any) and the outstanding principal balance under the Term Loan (the "Term Loan Account"). The Bank shall provide the Borrowers with a monthly statement of the Borrowers' Term Loan Account, which statement shall be considered to be correct and conclusively binding on the Borrower unless any Borrower notifies the Bank to the contrary within 18 months after such Borrowees receipt of any such statement which it deems to be incorrect.