TROF Loan definition

TROF Loan means that certain interest-free loan in the maximum principal amount of Six Hundred Thirty Thousand and 00/100 Dollars ($630,000.00) with the Tobacco Commission (as hereafter defined) as lender and RIFA as borrower, for the Company's use and benefit, as more particularly described in Section 6(f)(iii) below. The TROF Loan shall fund RIFA’s acquisition of the Gefertec ARC Equipment for license to the Company as set forth in the Gefertec ARC Equipment License Agreement. In addition to the security provided under Section 7 below for repayment of the TROF Loan, the TROF Loan shall be secured by a first position lien on all equipment and machinery of the Company, as well as a second position deed of trust on the Project Site and improvements.
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Related to TROF Loan

  • Type of Loan means (i) with respect to either Term Loans or Revolving Loans, a Base Rate Loan or a Eurodollar Rate Loan, and (ii) with respect to Swing Line Loans, a Base Rate Loan.

  • Term SOFR Rate Loan means a Loan that bears interest based on Term SOFR Rate.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Dollar Loan means a Loan denominated in Dollars.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.