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Agenda - 03-21-2000-5a
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Agenda - 03-21-2000-5a
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Last modified
8/29/2008 6:01:18 PM
Creation date
8/29/2008 11:16:25 AM
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BOCC
Date
3/21/2000
Document Type
Agenda
Agenda Item
5a
Document Relationships
2000 S EDC - Approval of Resolution Concerning Revised Documents Governing Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2000
Minutes - 03-21-2000
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2000
RES-2000-021 Resolution Regarding Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2000
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35 <br />EXHiBYT C ~_D <br />For all purposes of this Agreement, the. following terms shall have the following <br />meanings, unless the context clearly requires otherwise: <br />"Advance" means a payment by a Bank of proceeds loaned to the Company <br />pursuant to this Agreement relating to a specific Program Loan. <br />"Borrowing" means an aggregate of Advances by the Banks to the Company <br />related to a single Program Loan. <br />"Business Day" has the meaning assigned in the Support Agreement. <br />"Collateral" has the meaning assigned in the Security Agreement. <br />"Commitment Period" means the period beginning on the date of this Agreement <br />and ending on the earliest of (a) June 30, 2002, (b) the date on which the Banks have <br />advanced the full aggregate amount of their Loan Commitments, or (c) the date on which <br />the Banks terminate their obligations to make Advances upon the occurrence of an Event <br />of Default. <br />"Company Loan Loss. Account" has the meaning assigned in the Support <br />Agreement. <br />"Default Condition". means the occurrence or existence of an event or condition <br />that, upon the giving of notice or the passage of time, or both, would constitute an Event <br />of Default. <br />"Event of Default" has the meaning assigned in Section 6.1. <br />"Loan" means the aggregate of all Advances made by the Banks to the Company <br />pursuant to this Agreement. <br />"Loan Commitment," for any Bank, means that Bank's maximum aggregate <br />obligation to make Advances to the Company during the Commitment Period. Schedule 1 <br />sets forth the izutial Loan Commitment for each Bank. <br />"Loan Loss" means the sum of (a) any deficiency from scheduled principal <br />repayments (b) any collection costs, including reasonable attorneys' fees, actually <br />incurred by the Company, in each case in connection with any Program Loan the <br />principal of which the Company has declared to be due and payable in full after a default <br />pursuant to the terms of that Program Loan. <br />
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