VTB Loan definition

VTB Loan means the principal amount of TWO MILLION DOLLARS ($2,000,000), which amount reflects the portion of the Purchase Price payable by the Purchaser pursuant to Section 3.1(d).

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VTB Loan means the promissory note or other debt instrument issued by the Borrower to the Vendor, in form and substance satisfactory to the Administrative Agent.

VTB Loan means the vendor-take-back loan agreement dated December 28, 2012 between the REIT and Huntingdon.

Examples of VTB Loan in a sentence

• Advances under the Acquisition Credit Facility may be used by the Borrower to fund the Target Acquisition, payments on the VTB Loan permitted by the VTB Loan Subordination Agreement and other Acquisitions permitted by the Required Lenders.

• Advances under the Revolving Credit Facility may be used by the Borrower for general corporate purposes and working capital requirements and for certainty, may not be used to fund payments on the VTB Loan or Acquisitions.

• Beginning on the Closing Date and for so long as any indebtedness remains outstanding under the VTB Loan, the Purchaser shall permit the Seller at the Seller’s expense, and at a time acceptable to the Purchaser, to visit and inspect the Purchaser’s properties; discuss the Purchaser’s affairs, finances, and accounts with its officers, during normal business hours as may be reasonably requested by the Seller but not greater than once in any three (3) month period.

More Definitions of VTB Loan

VTB Loan means the senior secured first priority vendor take back promissory note in substantially the form attached hereto as Schedule “A”, to be entered into at the Time of Closing by the Purchaser and the Seller, as applicable.