Emergency Loans are available to provide urgent assistance for students. Typically, these types of loans are short term in nature. Tuition bursaries continue to be the first avenue pursued when accessing tuition assistance. 4. Work Study budget for the 2008/2009 budget year was set at approximately $700,000.00 to provide students the opportunity to gain employable skills and experience while helping them financially with their academic studies. Other means of financial assistance continue to be provided whenever an opportunity presents itself. St. Clair College makes every effort to support the financial needs of all students. Personal deferrals or payment plans are established if personal circumstances dictate the necessity of the additional support.
Emergency Loans. Notwithstanding anything contained in this Agreement to the contrary, (a) the Managing Partner shall have the power and the authority at any time, and from time to time, to make Emergency Expenditures on behalf of the Partnership and to treat any such Emergency Expenditures as an unsecured loan (an "EMERGENCY LOAN") to the Partnership, and (b) the other Partner shall have the right to make Emergency Expenditures on behalf of the Partnership and to treat any such Emergency Expenditures as an Emergency Loan, provided that in the case of this clause (b) only, (i) such Partner has first given written notice to the Managing Partner of such Partner's intention to make such Emergency Loan, which notice shall contain a description of the purpose of the Emergency Loan and the date on which such Emergency Loan is intended to be made, and which notice shall be given at least two (2) Business Days prior to the date that such Partner intends to make such Emergency Loan, and (ii) the Managing Partner has failed to make an Emergency Loan for such purpose before the date such Partner stated in its notice to the Managing Partner. All Emergency Loans shall bear interest at a rate equal to the Preferred Return Rate, with interest to accrue from the date such expenditure is made until the date repaid. The principal balance of each Emergency Loan plus the accrued and unpaid interest thereon shall be due and payable as set forth in Article 5 hereof.
Emergency Loans. Students who have designated [XCC] as their Home Institution may apply for an emergency loan from WOU.
Emergency Loans. If capital is required for an Emergency prior to the date when a Capital Contribution would be made pursuant to a Capital Call Notice, then the Board may request funding by way of a loan from any Member that is able to fund in accordance with the Company’s timing requirements (such loan, an “Emergency Loan”); provided that no Member shall have the right to make an Emergency Loan without the request of the Board for such funding; and provided, further, that, for the avoidance of doubt, no Member shall have an obligation to make an Emergency Loan. Any Emergency Loan made pursuant to this Section 3.3(d) shall bear interest at the Default Rate, and shall be repaid promptly (and in any event within three Business Days) by the Company following receipt by the Company of Capital Contributions pursuant to a Capital Call Notice for the funds required for such Emergency.
Emergency Loans
