FUND LOANS Sample Clauses
The FUND LOANS clause defines the terms and conditions under which a lender provides funds to a borrower in the form of loans. It typically outlines the process for disbursing loan amounts, any requirements or conditions that must be met before funds are released, and may specify timelines or procedures for drawing down on the loan. This clause ensures that both parties understand how and when the loan funds will be made available, thereby providing clarity and structure to the funding process and reducing the risk of disputes over loan disbursement.
FUND LOANS. The Directors or any Affiliate of any Director may lend funds to the Fund for such period of time as the Management Committee may determine, and with interest payable in an amount equal to the lesser of (i) the interest rate at which the Directors or such Director Affiliate could then borrow such amount or (ii) the maximum amount of interest then permitted under any applicable usury laws; provided, however, that if the Fund is able to obtain comparable financing from an unrelated lending institution, the amount of interest and similar charges or fees paid to the Directors or such Affiliate would not exceed those charged by such unrelated lending institution on comparable loans for the same purpose. Any such amounts shall be repaid to the Directors or any Director Affiliate before any distributions may be made pursuant to Article 9. In no event shall a loan made to the Fund by any Person be deemed to be a part of any Fund Interest that such Person may hold, nor shall the Directors or their Affiliates provide the Fund with permanent financing.
FUND LOANS. The Fund may obtain or assume, in the sole discretion of the Manager, loans to acquire, operate or refinance the Investments.
FUND LOANS. The Banks who have issued a Fund Loan Commitment ---------- agree, severally in accordance with their respective Commitment Ratios relating to the Fund Loan Commitment, and not jointly, upon the terms and subject to the conditions of this Agreement, to lend to the Borrower: (i) an aggregate amount not to exceed $75,000,000 under the Fund Loan Commitment on the date of the First Amendment to this Agreement; and (ii) provided that the Omega Acquisition Date occurs on or before March 31, 1996, and provided further that not less than fifteen (15) days prior to the Omega Acquisition Date, the Borrower shall have provided the Administrative Agent with copies of the Omega Acquisition Agreement and all other documents related to the transfer of the Omega Assets to the Borrower, including, without limitation, lien search results from appropriate jurisdictions with respect to the Omega Assets, all of which shall be certified by an Authorized Signatory to be true, complete and correct, and all of which shall be in form and substance satisfactory to the Administrative Agent, an aggregate amount not to exceed $10,000,000 under the Fund Loan Commitment on the Omega Acquisition Date. Advances under the Fund Loan Commitment may be repaid and reborrowed as provided in Section 2.2(b) and 2.2(c) hereof, as applicable, in order to effect changes in the Interest Rate Bases applicable to Advances thereunder, provided, -------- however, that there shall be no net increase in the aggregate principal ------- amount outstanding under the Fund Loan Commitment on any date other than the date of the First Amendment to this Agreement or the Omega Acquisition Date. In any event, the Fund Loan Commitment shall terminate upon the earlier to occur of the close of business on the Omega Acquisition Date or March 31, 1996."
(b) Section 2.8 of the Loan Agreement, Notes; Loan Accounts, is hereby -------------------- amended by adding the following at the end of existing Section 2.8(a): "Any Bank (i) which is not a U.S. Person (a "Non-U.S. Bank") and (ii) which ------------- could become completely exempt from withholding of United States Federal income taxes in respect of payment of any obligations due to such Bank hereunder relating to any of its Loans if such Loans were in registered form for United States Federal income tax purposes may request the Borrower (through the Administrative Agent), and the Borrower agrees thereupon, to register such Loans as provided in Section 11.5(f) hereof and ...
FUND LOANS. Open an Imperial RAL Individual Tax Refund Receiving Sub-Account for each Obligor, using the Obligor's social security number, individual tax payer identification number, or adopted tax payer identification number as the sub-account number. -22-NEXT PAGE