PNC Term Loan definition

PNC Term Loan has the meaning specified in the Intercreditor Agreement
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PNC Term Loan means the term loans made pursuant to the PNC Term Loan Agreement, which PNC Term Loan has an aggregate principal balance outstanding of $32,415,923.15 as of the date hereof.
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PNC Term Loan means the term loan between Borrowers and PNC in the original principal amount of $5,000,000.00 pursuant to the PNC Term Loan Documents and any amendments, extensions, modifications, replacements or substitutions to such loan.
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Examples of PNC Term Loan in a sentence

  • As a condition of the PNC Line and the PNC Term Loan, the Company is required to maintain certain levels of net worth, working capital and other financial ratios; to limit the amount of capital expenditures it may incur without PNC Bank’s approval; and to restrict the payment of dividends.

  • As a condition of the PNC Line and the PNC Term Loan, the Company is required to maintain certain levels of net worth, working capital and other financial ratios; to limit the amount of capital expenditures it may incur without PNC Bank's approval; and to restrict the payment of dividends.

  • In connection with the execution of the PNC Term Loan Agreement, GPM will execute a guaranty with respect to the PNC Term Debt.

  • Interest on borrowings under the PNC Line and the PNC Term Loan is based on short-term market rates, which may be further adjusted based upon the Company maintaining certain financial ratios.

  • The PNC Term Loan bore interest at Prime plus 9% or LIBOR plus 10% per annum at the Company’s election.

  • During the summer of 2005, numerous payroll checks were written on a Metropolitan bank account to employees.

  • This Agreement ----------------------------------------------- shall become effective upon disbursement of the Chase Term Loan by Chase, payment, termination and cancellation of the PNC Term Loan, Chemical Term Loan and Silicon Letter of Credit, and related agreements, and entering into the Security Agreement, Bayer Mortgage and Intercreditor Agreement as referred to in the recitals to this Agreement.

  • PNC CREDIT AGREEMENT On January 30, 1998, the Company entered into the Second Amended and Restated Credit Agreement, as subsequently amended, with PNC Bank for a $6.5 million revolving credit facility through April 2001 (the "PNC Line") and a seven-year term loan (the "PNC Term Loan"), secured by substantially all of the Company's assets.

  • The Company’s capital commitments and obligations as of December 31, 2013 consisted of the PNC Term Loan, the PNC Revolving Line of Credit, an Academy Bank Real Estate Loan entered into to fund the new operation center in North Dakota, as well as other bank debt and certain capital and operating leases.

  • The PNC Term Loan currently bears interest at a rate equal to the Euro-dollar rate plus 175 basis points.


More Definitions of PNC Term Loan

PNC Term Loan shall have the meaning set forth in the Recitals.
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PNC Term Loan the term loan in the initial principal amount ------------- of $10,000,000 made by PNC to the Borrower pursuant to the PNC Letter Agreement.
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Related to PNC Term Loan

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • New Term Loan shall have the meaning provided in Section 2.14(c).

  • Tranche B Term Loan as defined in Section 2.1.

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Tranche C Term Loan as defined in Section 2.1.

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.

  • Additional Term Loan has the meaning specified in Section 2.01(c).

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Tranche A Term Loan as defined in Section 2.1.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

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

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • 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.

  • New Term Loans as defined in Section 2.24.

  • Additional Term Loans means any term loan added pursuant to Section 2.22, 2.23 or 9.02(c)(i).

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

  • Replacement Term Loans shall have the meaning provided in Section 13.1.

  • Original Term Loans means the "Term Loans" under, and as defined in, the Original Credit Agreement.

  • Tranche B Term Loan Lender means a Lender with a Tranche B Term Loan Commitment or an outstanding Tranche B Term Loan.

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

  • Tranche C Term Loan Commitment means, with respect to each Tranche C Term Loan Lender, the commitment of such Lender to make Tranche C Term Loans under the Tranche C Term Loan Incremental Facility Agreement.

  • Tranche A Term Loan Lender means a Lender with a Tranche A Term Loan Commitment or an outstanding Tranche A Term Loan.