Certain Loans Clause Samples

Certain Loans. There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees of indebtedness by Purchaser to, or for the benefit of, any of the officers, directors, or director-nominees of Purchaser or any of the members of the families of any of them.

Certain Loans. The Company is repaying to the Stockholders the loans identified on SCHEDULE 4.10.

Certain Loans. Neither the Company nor any Subsidiary has any accounts or loans receivable from any Person which is affiliated with the Company or any Subsidiary or from any director or officer or, other than in the ordinary and usual course of business, any employee of the Company or any Subsidiary, except as set forth in Schedule 2.9.

Certain Loans. There shall not have been an increase of more than $2.75 million ($2,750,000) in commercial loans and multi-family loans delinquent ninety days or more (90) days as of any month end prior to the Closing Date, compared to the amount of such delinquencies as of the month end prior to the date of this Agreement; and

Certain Loans. Notwithstanding any other provision of this Agreement, any Loan procured through fraud, willful misconduct or gross negligence by an ITT ESI employee shall, upon written notice from the CUSO to ITT ESI (identifying such Loan and describing the fraud, willful misconduct or gross negligence by the ITT ESI employee), be deemed a Charged Off ITT ESI Risk Loan without regard to whether the First Loss Risk for the applicable Loan Pool has been exceeded. ITT ESI may, at any time, discharge its obligations with respect to any such Loan as if it were a Mature Loan subject to Section 3.6, regardless of the number of monthly payments made thereon and, in such event, any such Loan shall no longer be considered an ITT ESI Risk Loan for any purpose under this Agreement.

Certain Loans. Prior to making, renewing or otherwise modifying any of the following types of Loans, the Company shall inform Parent: (A) Loans to any person or entity if immediately after making such Loan, such Loan is risk rated “7” or worse by the Company (which includes all “criticized” and “classified” Loans) and is in the amount of $2,500,000 or greater, and (B) Loans to any person or entity if immediately after making such Loan, such person or entity would be directly indebted to the Company or any Company Subsidiary, excluding participations sold, in an aggregate amount of $10,000,000 or greater.

Certain Loans. As of the date hereof, there are no outstanding loans or advances from the Company or any of its Subsidiaries to employees of the Company or any of its Subsidiaries.

Certain Loans. Except as set forth on Schedule 5.15, there are no loans, receivables, advances or similar amounts owed to ECP by any director, employee, consultant or shareholder of ECP, or owing by any person connected with, any director of ECP, nor is any amount owed by ECP to any of its directors, any persons connected with a director, employee or shareholder other than normal compensation and advances in the ordinary course of business to employees for reimbursable business expenses not exceeding US$2,000 for any one individual.

Certain Loans. Prior to the Closing Date, the Company shall cause ▇▇▇▇▇ Bank to sell and ▇▇▇▇▇ Bank shall sell the Schedule 2 Loan Notes, which Schedule 2 Loan Notes have been selected by Parent and Company for disposition and sale, to a third party that is not a director, officer, employee, Affiliate or agent of the Company or ▇▇▇▇▇ Bank. If for any reason, the Schedule 2 Loan Notes are not sold prior to Closing, then immediately prior to Closing, the Company shall cause ▇▇▇▇▇ Bank to transfer and ▇▇▇▇▇ Bank shall transfer the Schedule 2 Loan Notes to an entity for the benefit of and controlled by the stockholders of the Company as of the Effective Time so that as of Closing there are no Schedule 2 Loan Notes on the balance sheets of ▇▇▇▇▇ Bank or any Company Subsidiary or Affiliate.