Exit Loan definition

Exit Loan has the meaning assigned in Section 3.07.

Exit Loan shall have the meaning ascribed to such term in the recitals.

Exit Loan means that certain loan to be made by the Exit Lender to fund certain Administrative Expense Claims and fund other payments to creditors as detailed herein.

Examples of Exit Loan in a sentence

• For each Whole Loan, we recalculated the “Whole Loan UW NCF Exit Interest DSCR” as the quotient of the: a.Appraisal Stabilized NCF and b.Whole Loan Exit Loan Annual Interest, as shown on the Final Data File.

• Using the product of the: a.Total Senior Participation Maturity Date Balance and b.Exit Constant, as shown on the Final Data File, we recalculated the “Total Senior Participation Exit Loan Annual Interest” of each Total Senior Participation.

• Using the product of the: a.Whole Loan Maturity Date Balance and b.Exit Constant, as shown on the Final Data File, we recalculated the “Whole Loan Exit Loan Annual Interest” of each Whole Loan.

• Additional Plan Payments: Creditors' Trust Funding + $2,000,000.00 $5,000,000.00 Exit Loan Interest + $1,899,027.78 DIP Loan Repayment + $10,157,777.77 $0.00 Unused Credit Line Fee + $100,000.00 $0.00 (B).

• On the Effective Date or as soon as practicable thereafter and without need for any further action, the Reorganized Debtors may, subject to the terms of the Exit Loan Agreement, (i) cause any or all of the Debtors to be merged into one or more of the Reorganized Debtors, dissolved or otherwise consolidated, (ii) cause the transfer of assets between or among the Reorganized Debtors, or (iii) engage in any other transaction in furtherance of the Plan.

More Definitions of Exit Loan

Exit Loan means that certain loan extended to the District pursuant to that certain “Debtor in Possession Credit Agreement” dated as of February 9, 2019 between the District and the City of Tulare, California on the terms in existence as of the Effective Date.

Exit Loan means the loan funded by the Exit Lender, not to exceed $20,143,000, pursuant to the Commitment Letter and the Loan Transactional Documents.

Exit Loan means the loan made by Development Finance, L.P. or its assignee to Debtor in the amount of $10,000,000 and described in the Debtor’s Notice of Exit Financing filed with the Bankruptcy Court on March 8, 2013 (Docket No. 291).

Exit Loan means that certain loan up to the amount of $50,000.00 non- interest bearing unsecured loan provided by Galina and Mark Datskovsky, which the Debtors shall enter into on the Effective Dateshall be disbursed in full on the Effective Date and memorialized by a promissory note issued by the Reorganized Debtors on the Effective Date in the form attached as a Plan Supplement, with a principal amount of $50,000.00 and bearing a maturity date of December 31, 2021 at 0% interest per annum, with payments commencing in the fifth and final year of the Term of the Plan.

Exit Loan means the loan from a lender in an amount up to $13,400,000.

Exit Loan means the Borrowing made to the Borrower pursuant to Section 2.01.

Exit Loan means the loan in the amount of approximately $300,000 that will be made to Debtors on the Effective Date by Robert E. Wheaton, Debtors’ president and CEO, in order to provide the balance of the funding needed to implement the Plan on the Effective Date. The loan will bear interest at the rate of 6.5% per annum and will be repaid in equal monthly amortizing installments over a period of five years. It will be secured by a second-position mortgage or deed of trust, as appropriate, an assignment of rents, and a security interest against the Artesia Property. The Exit Loan will become the senior lien against the Artesia Property when the Wells Fargo Artesia Loan is paid in full.