Seller Loan is defined in Section 7.08.
Seller Loan means the $ subordinate loan made by the Seller to the Borrower in connection with the acquisition of the Project.
Seller Loan means a loan that, following the occurrence of a Regulatory Event, the Seller may elect to advance to the Issuer in accordance with the Auto Portfolio Purchase Agreement, for an amount equal to the Seller Loan Purchase Price to be applied by the Issuer in order to redeem all (and not some only) of the Junior Notes in accordance with Note Condition 5.5 (Optional redemption for regulatory reasons), which satisfies the Seller Loan Conditions.
Examples of Seller Loan in a sentence
Xxx and Xxxxxx have executed this Correspondent Seller Loan Purchase and Sale Agreement (Servicing Released) to be effective as of the day and year first above written.
The parties acknowledge that the uses of HUD- Insured Loan Funds, Subordinate Loan Proceeds, Seller Loan Proceeds, and Tax Credit Equity are restricted in accordance with the applicable statutes, regulations, administrative, and contractual requirements governing the allocation and disbursement of such funds.
City has agreed to make the Seller Loan to the Borrower in the amount of $7,300,000.00.
A portion of the Seller Loan Proceeds may be used for application to Collateral Payments required under the Bond Documents.
At the time of the Initial Closing, Seller Loan Proceeds will be fully credited, and at Borrower's direction, the required Collateral Payments will be attributed to permit the Trustee to disburse Bond Proceeds to be applied in accordance with the approved Disbursement Request at Initial Closing.
More Definitions of Seller Loan
Seller Loan means the loan, with an aggregate principal amount equal to one billion two hundred million dollars ($1,200,000,000), deemed to have been made by Seller to OpCo Purchaser in a single drawing on the Closing Date pursuant to, and subject to the terms and conditions of, the Seller Financing Loan Agreement.
Seller Loan means a loan from Building 208 Holdings, LLC, to the Borrower in the principal sum of $10,450,000.
Seller Loan means the loans in the aggregate principal amount of $600,000 made by Purchaser to GGC in four installments (the “Installments”) on each of September 21,2020 ($150,000), October 15, 2020 (210,000), November 18,2020 ($90,000) and December 18,2020 ($150,000). The Instalments shall be evidenced by zero-interest Promissory Notes, in the form of Exhibit C hereto (each a “Note”). In the event (i) either GGC, the Sellers or the Purchaser terminates the Transaction because the aggregate valuation set forth in the Fairness Opinion for GGC and Helix Holdings, LLC is not equal to or greater than $43,000,000, then $210,000 of the Seller Loan which has been advanced to GGC as of the date of such termination will be forgiven in its entirety and GGC shall be permitted to retain such forgiven principal advances; or (ii) the Purchaser terminates the Transaction and does not pay the Purchase Price to the Sellers and the Purchaser does not have Cause (as defined below) for such termination and non- payment, then 75% of the outstanding amount of the Seller Loan which has been advanced to GGC as of the date of termination will be forgiven in its entirety and GGC shall be permitted to retain such forgiven principal advances, provided however, if both (i) and (ii) apply to Purchaser’s termination, GGC shall obtain forgiveness in the amount of (ii).The remaining balance of the outstanding amount of the Seller Loan will remain due and owing by GGC to the Purchaser, to be repaid upon the earlier of (i) the consummation of a debt or equity financing in the aggregate amount of not less than $4.5 million by an Acquired Company and (ii) 12 months following the date of each advance, subject to the terms and conditions provided in the Note. In connection with the forgoing, Seller Loan forgiveness shall be allocated to each Note in proportion to amount. In the alternative, upon the Closing, the loan advances shall be applied to the Purchase Price paid to each Seller and shall be offset against the cash amounts owing by the Purchaser to each Seller. “Cause” shall mean (i) evidence that GGC cannot complete a PCAOB audit or review of financial statements because of fraud or material accounting errors;(ii) material misstatements or misrepresentations made by the Sellers following the date hereof and prior to the Closing of the Transaction, (iii) the failure by the Sellers to provide the Purchaser with the due diligence materials necessary or advisable to properly evaluate the business of GGC ...
Seller Loan means the Inter Company Loan Agreement, dated September 2, 2005, between Seller and the Company in the original maximum principal amount of $500 million.
Seller Loan shall have the meaning set forth in Section 3.19(d).
Seller Loan means a loan from Communities for a Better Life, a California nonprofit public benefit corporation, to the Borrower in the principal sum of $790,000.