Commercial Loans. One (1%) percent of principal (renewals of commercial loans and commercial lines of credit do not qualify);
Commercial Loans. The Borrowers represent and warrant that the Advances are and shall be “Commercial Loans” as such term is used in Chapter 306 of the Texas Finance Code. In the event that applicable law provides for an interest ceiling under Chapter 303 of the Texas Finance Code, the ceiling shall be the indicated (weekly) ceiling and shall be used when appropriate in determining the Maximum Rate.
Commercial Loans. Company Bank may make or renew any commercial loan, commercial loan commitment, commercial letter of credit, or other extension of commercial credit up to $1,000,000 that is made in the ordinary course of business in a manner consistent with Company Bank’s current policies and procedures and recent past practice. Company Bank may not make or renew any commercial loan, commercial loan commitment, commercial letter of credit, or other extension of commercial credit that is greater than $1,000,000 unless Buyer acting through its President and Chief Commercial Banking Officer or his designee(s) first consents in writing (which consent will not be unreasonably withheld, conditioned or delayed).
Commercial Loans. The Collateral Obligations relate to or are comprised of only securities and commercial loans, the proceeds of which loans were used primarily for commercial purposes and not for personal, family or household purposes.
Commercial Loans. Grantor warrants and represents that the liabilities secured by this Deed of Trust are "commercial loans" within the meaning of the Commercial Law Article of the Annotated Code of Maryland.
Commercial Loans. 38 9.8. Insurance and Risk Management............................38 (iii) 4
Commercial Loans. 39 4.1 Conditions to Closing Date..................................................... 40 SECTION 5. COVENANTS 42
Commercial Loans. Neither the Loans or Notes nor any participation therein constitutes a "security" for the purposes of the U.S. federal securities laws and state securities or "blue sky" laws and no consent, approval, authorization or order of, or filing, qualification or registration with, any court or governmental agency or body is required under the U.S. federal securities laws and state securities or "blue sky" laws in connection with the making of the Loans, the issuance of the Notes or any transfer of an interest therein by way of participation, assignment or otherwise. The Loans, the Notes and other obligations hereunder are commercial loans and not securities.
Commercial Loans. An Acquired Company owns good and valid title to, and is the sole owner and holder of, each Commercial Loan, free and clear of all Security Interests other than Security Interests set forth in Schedule 3.11(d). At the time of origination, the security interest of the Acquired Company in the Subject Property securing each Commercial Loan was a first priority lien. Each Commercial Loan (A) was incurred by an Acquired Company in the ordinary course of its business, (B) is secured by a valid and enforceable lien encumbering the Subject Property securing the same, and (C) is a valid and enforceable obligation of the borrower thereunder for the amount thereof subject to state or federal Laws that may prevent immediate enforceability of remedies, including foreclosure and bankruptcy Laws. Each Commercial Loan was originated in all material respects in compliance with all applicable state and federal Laws.
Commercial Loans. The Loan has not been entered into primarily for personal, family or household purposes.
