Amount and Terms of the Loan Clause Samples
The 'Amount and Terms of the Loan' clause defines the total sum being lent and the specific conditions under which the loan is provided. It typically outlines the principal amount, interest rate, repayment schedule, and any applicable fees or charges, ensuring both parties are clear on the financial obligations involved. By clearly stating these terms, this clause helps prevent misunderstandings and disputes regarding payment expectations, thereby ensuring transparency and mutual agreement on the loan's key financial details.
Amount and Terms of the Loan. The Loan. Subject to the terms of this Agreement, each Purchaser agrees to lend to the Company at the Closing (as hereinafter defined) the amount set forth opposite such Purchaser’s name on the Schedule of Purchasers attached to this Agreement (each, a “Loan Amount”) against the issuance and delivery by the Company of a convertible promissory note for such amount, in substantially the form attached hereto as Exhibit A (each, a “Note” and collectively, the “Notes”).
Amount and Terms of the Loan. Subject to the terms of this Agreement:
2.1 the Purchaser covenants and agrees to lend to the Company the Loan; and
2.2 the Company agrees to issue to the Purchaser a Note in the Loan Amount as set out in this Agreement.
Amount and Terms of the Loan. SECTION 2.01 LINE OF CREDIT LOAN FACILITY; REQUEST FOR ACQUISITION BORROWINGS AND WORKING CAPITAL BORROWINGS; DISBURSEMENT OF FUNDS.
(a) Subject to and upon the terms and conditions set forth in this Agreement, the Lender hereby establishes in favor of the Borrower a line of credit loan facility of up to Ten Million Dollars ($10,000,000) for Working Capital Borrowings (the "Line of Credit Loan Facility"). Within the limits of the Line of Credit Loan Facility and during the Borrowing Period, the Borrower may borrow in accordance with the terms and conditions of this Agreement, provided, however, that (1) the Borrower may not (A) reborrow any principal repaid, (B) borrow should there exist a Default or Event of Default, or (C) borrow when Borrower's cash and cash equivalents (as shown in Schedule 2.3(a) of the Asset Purchase Agreement) are equal to or greater than Two Million Dollars ($2,000,000), and (2) the Borrower must use the proceeds of each Working Capital Borrowing to fund a use that has been approved by the Lender and listed in Schedule I hereto, or for other needs of Borrower as pre-approved in writing by Lender.
(b) Whenever the Borrower desires to borrow a Working Capital Borrowing under the Line of Credit Loan Facility within the Borrowing Period, but in any event no more often than once every thirty (30) days, it shall give the Lender prior written notice of such Working Capital Borrowing (a "Notice of Borrowing"), which shall be substantially in the form of Exhibit A attached hereto. Each Notice of Borrowing shall be delivered to the Lender no later than five (5) days prior to the requested date of such Borrowing. Each Notice of Borrowing (i) shall be irrevocable, (ii) shall specify the aggregate principal amount of the Working Capital Borrowing which shall be in the minimum amount of Two Hundred Thousand Dollars ($200,000) and shall not exceed Two Million Dollars ($2,000,000), and (iii) shall describe in detail acceptable to Lender the proposed use of the proceeds of such Borrowing. Promptly upon Lender's request therefor, Borrower shall deliver copies of such documents relating to the proposed use as Lender shall request. To the extent that the use is for a purpose other than those listed on Schedule I hereto (an "Off-Schedule Expenditure"), Lender shall notify Borrower in writing no later than three (3) business days after receipt of each Notice of Borrowing of whether Lender consents to the Off-Schedule Expenditure at its sole discretion. ...
Amount and Terms of the Loan. SECTION 2.1. The Loan. The Lender has, on the terms and conditions hereinafter set forth, made a loan (the "Loan") to the Borrower on the date hereof in the amount set forth above, in connection with Borrower's purchase of the Option Shares.
Amount and Terms of the Loan. 1.1 The Loan. The “Loan” hereunder shall mean the loan by the Lender to the Borrower in the principal amount of $2,000,000.
Amount and Terms of the Loan. 1.1 The Loan(s). Subject to the terms of this Agreement, each Purchaser agrees to lend to the Company at the Closing (as hereinafter defined) the amount set forth opposite each such Purchaser’s name on the Schedule of Purchasers attached hereto up to an aggregate amount of $1,250,000 (each, a “Loan Amount” and collectively the “Total Loan Amount” or “Loan”) against the issuance and delivery by the Company of a subordinated promissory note or notes for such amount(s), in substantially the form attached hereto as EXHIBIT A (each, a “Note” and collectively, the “Notes”). Capitalized terms not otherwise defined in this Agreement shall have the meaning ascribed to such terms in the Note.
Amount and Terms of the Loan. 11 SECTION 2.01 Line of Credit Facility; Request for Acquisition Borrowings and Working Capital Borrowings; Disbursement of Funds.................................................11 SECTION 2.02 Note; Maturity....................................................................12 SECTION 2.03
Amount and Terms of the Loan. Party A loaned RMB120,000,000 yuan (RMB One Hundred and Twenty Million Yuan) to Party B with a three year term.
Amount and Terms of the Loan the Note. The Issuer agrees, subject to the terms and conditions in this Agreement, to lend to the Borrowers the proceeds from the sale of the Project Bonds. Such proceeds (after deducting the original Purchaser's bond discount, if any) shall be deposited with the Trustee and disbursed, after deducting the Bond Fund Payment as provided in the Indenture, in accordance with the provisions of Section 4.2 hereof in payment of costs of refunding the Prior Bonds. Concurrently with the issuance of the Project Bonds, the Borrowers agree to and shall execute and deliver a Note in substantially the The Borrowers shall, concurrently with the delivery of the Project Bonds and the Note, deliver or cause to be delivered the Letter of Credit to the Trustee. The Borrowers agree that they will not, either by their action or inaction, in any way adversely affect the continuation or effectiveness of the Letter of Credit. All Loan Payments made hereunder on account of principal of and interest and any premium on the Note shall be made directly to the Trustee at its corporate trust office for the account of the Issuer for deposit in the Reimbursement Account in the Bond Fund. The Borrowers shall have the option to prepay all or part (in the amount of $5,000 or any integral multiple thereof) of the Loan and the Bonds, with accrued interest to the date of such prepayment, at the time and in the amounts equal to the times and amounts at or in which the Project Bonds may be redeemed pursuant to the Indenture, provided, however, that before the Borrowers give the notice in accordance with Section 8.4 of this Agreement of intention to exercise the option to prepay the Loan in whole or in part, the Borrowers shall deposit with the Letter of Credit Bank the full amount of the prepayment price, including accrued interest to the date of prepayment specified in the aforesaid notice and premium, if any, set forth in the Bond Form in the Indenture, or alternatively, shall obtain a written waiver of such deposit requirement from the Letter of Credit Bank. The Borrowers shall be required to prepay the Loan in full with accrued interest to the date of such prepayment on the amount prepaid, upon the happening of an event described in Section 8.3 of this Agreement. Any such prepayment pursuant to said Section 8.3 shall be without premium or penalty. Any such optional or mandatory prepayment shall be made pursuant to the notice provisions described in Section 8.4 of this Agreement. In any event,...
Amount and Terms of the Loan. (a) The Borrower agrees to borrow from the Lender and the Lender agrees to lend and advance to the Borrower a rupee term loan of ₹150,00,00,000/- (Rupees one hundred fifty crore only) for the Purpose on the terms and conditions contained herein forming part of the Total Loan (hereinafter referred to as the “Loan”).
(b) The Borrower agrees that the proceeds of the Loan shall be utilized for the Purpose as per the Financing Plan.