Base Facility Note definition

Base Facility Note means a promissory note, in the form attached as Exhibit B to this Agreement, which will be issued by the Borrower to the Lender, concurrently with the funding of each Base Facility Advance, to evidence the Borrower’s obligation to repay the Base Facility Advance.
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Base Facility Note means a promissory note, in the form attached as EXHIBIT B to this Agreement, which will be issued by the Borrower to the Lender, concurrently with the funding of each Base Facility Advance, to evidence the Borrower's obligation to repay the Base Facility Advance. On the Closing Date, two Base Facility Notes shall be issued, an Amended and Restated Base Facility Note in the amount of $12,515,000 and a Base Facility Note in the amount of $87,485,000.
Sample 1
Base Facility Note. If no prepayment is permitted under the applicable Base Facility Note, such prepayment amount shall be held by Lender (or its appointed collateral agent) as substitute cash collateral in accordance with a security agreement and other documents in form and substance acceptable to Lender. Any substitute cash collateral remaining will be returned to the Borrower on the earlier of the date when the Minimum Aggregate Facility Debt Service Coverage Ratio for the Trailing 12 Month Period and the Maximum Aggregate Loan to Value Ratio for the Trailing 12 Month Period are again met or the Credit Facility Termination Date. If on the date the Borrower pays any amounts required by this Section, Revolving Advances are Outstanding but are not then due and payable, Lender shall hold such amounts (which amounts shall bear interest at a rate determined by Lender) as additional collateral until the next date the Revolving Advances are due and payable, at which time Lender shall apply the appropriate portion of such prepayment to such Revolving Advances.
Sample 1

Examples of Base Facility Note in a sentence

  • The obligation of the Borrower to repay a Base Facility Advance will be evidenced by a Base Facility Note.

  • The Assignment and Assumption Agreement shall provide for (i) the transfer and assignment by Borrower to Successor Borrower of the Substitute Collateral, subject to the lien and security interest in favor of Lender, (ii) the assumption by Successor Borrower of all liabilities and obligations of Borrower under the relevant Base Facility Note, and (iii) the release by Lender of Borrower from all liabilities and obligations under the relevant Base Facility Note.

  • As at December 31, 2010, the Company had restricted cash of $3.4 million (2009 - $nil) set aside in a debt service reserve account, as required by the Borrowing Base Facility (Note 7).

  • Upon Borrower’s compliance with the requirements of Section 3.10(a), Borrower shall assign all its obligations and rights under the relevant Base Facility Note, together with the Substitute Collateral, to a successor entity (the “Successor Borrower”) designated by Lender or, if not so designated by Lender, designated by Borrower and acceptable to Lender in its sole discretion.

  • As at December 31, 2014, the Company had restricted cash of $1.5 million (December 31, 2013 - $1.5 million) set aside in a debt service reserve account, as required by the Borrowing Base Facility (Note 16).

  • The Pledge Agreement shall provide Borrower’s authorization and direction that all interest on, principal of and other amounts payable with respect to the Substitute Collateral shall be paid directly to Lender to be applied to Mortgage Payments due under the Base Facility Note subject to Defeasance.

  • The obligation of the Borrower to repay a Base ------------------ Facility Advance will be evidenced by a Base Facility Note.

  • As at September 30, 2011, the Company had restricted cash of $2.2 million (December 31, 2010 - $3.4 million) set aside in a debt service reserve account, as required by the Borrowing Base Facility (Note 15).

  • As at September 30, 2010 the Company had restricted cash of $1.9 million (2009 - $nil), as required by the Borrowing Base Facility (Note 6), and represents the aggregate amount of interest for six months on the loan balance outstanding.

  • The Pledge Agreement shall provide Borrower's ---------- authorization and direction that all interest on, principal of and other amounts payable with respect to the Substitute Collateral shall be paid directly to Lender to be applied to Mortgage Payments due under the Base Facility Note subject to Defeasance.

Related to Base Facility Note

  • Purchase Facility has the meaning set forth in Section 1.1 of the Sale Agreement.

  • Credit Note means a document issued by a registered person under sub-section (1) of section 34;

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Existing Facility Agreement means the senior secured credit facility dated 26 October 2000 made between, inter alia, UPC Broadband, UPC Financing and Toronto Dominion (Texas) LLC as facility agent and the banks and financial institutions listed therein, as amended from time to time.

  • Receivables Purchase Facility means any securitization facility made available to the Borrower or any of its Subsidiaries, pursuant to which receivables of the Borrower or any of its Subsidiaries are transferred to one or more SPCs, and thereafter to certain investors, pursuant to the terms and conditions of the Receivables Purchase Documents.

  • Revolving Note means a promissory note of the Borrower payable to a Lender in substantially the form of Exhibit 11.1(d) hereto, evidencing Indebtedness of the Borrower under the Revolving Loan Commitment of such Lender.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Warehouse Facility means any bank credit agreement, repurchase agreement or other credit facility entered into to finance the making of Mortgage loans originated by the Company or any of its Subsidiaries.

  • Amended Facility Agreement means the Facility Agreement as amended and supplemented by this Agreement.

  • Term Note means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

  • Initial Revolving Facility means the Initial Revolving Credit Commitments and the Initial Revolving Loans and other extensions of credit thereunder.

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Revolver Note means any one of such Revolver Notes.

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(a) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $795,000,000.

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Tranche B Term Note shall have the meaning provided in Section 1.05(a).

  • Credit Facility Agreement means the Credit Facility and Reimbursement Agreement dated as of January 1, 2007, between the Bond Bank and the Bank providing for the timely payment, when due, of a portion of the principal of and interest on the Notes, all subject to such conditions and under such terms as described in Article X of the Indenture.