Examples of Outstanding Loan Amount in a sentence
If we wish, the Outstanding Loan Amount will become payable immediately if: a.
If the Borrower uses the Project for uses that are other than those described in ARTICLE 1(F) ("ineligible uses"), the Borrower shall, upon demand by DEQ, prepay an amount equal to the Outstanding Loan Amount multiplied by the percentage (as determined by DEQ) of ineligible use of the Project.
These expenses and Costs will be added to the Outstanding Loan Amount, will be payable immediately, will bear interest at the current Interest Rate in effect at the time, until fully repaid, and will be secured by the Mortgage in the same priority.
If you do not pay them, we may declare that you are in default under the Mortgage, or we may add the fees to the Outstanding Loan Amount, or we may do both.
This legal action may include suing you for the Outstanding Loan Amount.