Unsecured Loan means any Loan other than a Secured Loan.
Unsecured Loan. A senior unsecured Loan obligation of any Person which is not (and by its terms is not permitted to become) subordinate in right of payment to any other debt for borrowed money incurred by the Obligor under such Loan.
Unsecured Loan means any loan that is (a) not secured by a pledge of collateral and (b) senior or pari passu in right of payment to any other unsecured indebtedness of the related Obligor.
Examples of Unsecured Loan in a sentence
Unsecured Loan – For individuals with higher credit scores, 700 and above.
Common examples of secured loans include: Life insurance loans Vehicle loans Mortgages Secured credit cards Car title loans Bad credit loans Unsecured Loan In contrast to secured loans, unsecured loans don’t require collateral and are only backed by a contract.
More Definitions of Unsecured Loan
Unsecured Loan means a Loan that is, as of the date of the origination thereof, not secured, which for the avoidance of doubt shall include Convenience Checks.
Unsecured Loan means a Loan that is, as of the date of the origination thereof, not secured by any collateral pursuant to the terms of the applicable loan agreement.
Unsecured Loan has the meaning given to the term “Loan” (or equivalent) in any Unsecured Facilities Agreement.
Unsecured Loan. A senior unsecured Loan which is not (and by its terms is not permitted to become) subordinate in right of payment to any other debt for borrowed money incurred by the Obligor under such Loan.
Unsecured Loan. Any assignment of or other interest in an unsecured loan that is not subordinated to any other unsecured indebtedness of the Obligor.
Unsecured Loan means a loan that is not a secured loan;”.
Unsecured Loan. A loan that is not secured by a valid perfected security interest on specified collateral.