1/19/2024 0 Comments Drawdown meaning in loan![]() ![]() Such written notice should be received by the Bank on the second business day preceding the last day of the Drawdown Period at the latest. Incremental Loan means an Incremental Term Loan or an Incremental Revolving Loan.ĬD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.Examples of Drawdown Period in a sentence Revolving Loan means a Loan made pursuant to Section 2.01. Swingline Advance means any swingline loan made by the Swingline Lender to the Borrower pursuant to Section 2.01, and all such swingline loans collectively as the context requires. ![]() PPP Loan has the meaning set forth in Section 3.28. Tranche B Loans may be denominated in Canadian Dollars (as Canadian Prime Rate Loans, Bankers’ Acceptances, Drafts or BA Equivalent Notes), US Dollars (as Base Rate Loans or Eurocurrency Rate Loans) or any Alternative Currency (as Eurocurrency Rate Loans). Tranche B Loan means an extension of credit by a Lender to TCCI under Article II and shall, unless the context otherwise requires, be deemed to include Drafts accepted or purchased by any such Lender, and BA Equivalent Notes issued to such Lender in exchange for Drafts, including a Loan converted to a term Loan pursuant to Section 2.13(c). ![]() Tranche A Loans shall be denominated in US Dollars or any Alternative Currency. Tranche A Loan means an extension of credit by a Lender to a Tranche A Borrower under Article II in the form of a Committed Loan or a Money Market Loan, including a Loan converted to a term Loan pursuant to Section 2.13(c). Original Loan shall have the meaning set forth in the recitals hereto. RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR. Revolving Advance has the meaning given in Section 2.1.ĭrawdown Request means a notice substantially in the form set out in Schedule 3 (Drawdown Request). ![]() Term Loan means an advance made by any Term Lender under the Term Facility.īuydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan. VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA. Loan Advance The meaning specified in Section 2.2(a). Term Loan Advance means any Term Loan funds advanced under this Agreement. Term Advance has the meaning specified in Section 2.01(a). Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.įacility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.įunding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan. ![]()
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