Definition of Term Loan Asset


Term Loan Asset means a Loan Asset that is a term loan that has been fully funded and does not contain any unfunded commitment on the part of the Transferor arising from an extension of credit by the Transferor to an Obligor.
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Examples of Term Loan Asset in a sentence

Unless there shall be an Event of Default, Trust Moneys shall not include any proceeds of any sale of assets of any Grantor which does not constitute an Asset Sale, a Tranche A Indenture Asset Sale or a Tranche A Term Loan Asset Sale.
A notice which shall (A) refer to this Section 4.3(b) and (B) describe with particularity the Asset Sale or Term Loan Asset Sale or the destruction or condemnation in respect of which such Trust Moneys were held as Collateral, the amount of Trust Moneys applied to the prepayment of principal in respect of Term Loan Notes or the purchase of Securities pursuant to the Asset Sale Offer and the remaining amount of Trust Moneys to be released to PAAC; (ii) Officers' Certificate.
A notice which shall (A) refer to this Section 4.3(b) and (B) describe with particularity the Asset Sale or Term Loan Asset Sale or the destruction or condemnation in respect of which such Trust Moneys were held as Collateral, the amount of Trust Moneys applied to the prepayment of principal in respect of Term Loan Notes or the purchase of Securities pursuant to the Asset Sale Offer and the remaining amount of Trust Moneys to be released; (ii) Officers' Certificate.