GMAC Loan Sample Clauses

GMAC Loan. The Partners acknowledge and agree that, so long as the GMAC Loan is in effect, this Article 3 shall not be amended without GMAC’s prior written consent.
Sample 1Sample 2
AutoNDA by SimpleDocs
GMAC Loan. Seller shall have delivered a payoff letter from GMAC Financing evidencing payment in full of that certain loan in the original principal amount of $36,217.44 provided by GMAC to Seller.
Sample 1
GMAC Loan. Liabilities of Seller, not to exceed $44,000 in the aggregate, under that certain loan from GMAC (the "GMAC Loan") relating to the purchase of the 2007 Chevy Suburban, including outstanding principal as of the Closing Date and interest that accrues from and after the Closing Date, but only to the extent such liabilities do not result from any failure to pay when and as due or any other breach of the terms and conditions of such GMAC Loan, including, without limitation, any penalties, late charges or interest accrued on or before the Closing Date.
Sample 1
GMAC Loan. Such evidence as Lenders may require that the GMAC Loan has closed and been funded.
Sample 1
GMAC Loan. The Partners hereby ratify and agree that the Partnership will borrow from the Standby Lender, the GMAC Loan of not more than $50,000,000 pursuant to the Loan Documents for the purpose of refinancing the cost of acquiring, developing and operating the Properties. The Partners acknowledge and agree that the Partnership has previously executed a commitment letter for each of the Properties (collectively, "Commitment Letters") with the Standby Lender relating to the GMAC Loan secured by the Properties. The Partners hereby ratify and approve the Commitment Letters and agree that the General Partner shall have authority on behalf of the Partnership to enter into, execute, deliver and perform the Loan Documents with respect to
Sample 1
GMAC Loan. (a) Each Seller listed on Schedule 4(a) hereto has granted a mortgage or deed of trust to GMAC Commercial Mortgage Corporation (together with its successors and assigns, "Lender") as security for an existing mortgage financing (the "Existing Financing"), originally made by Lender to such Sellers, jointly and severally, in the original aggregate principal amount of $200,000,000. It is the intention of Sellers and Purchaser, and Purchaser hereby agrees, that Purchaser shall acquire the Properties, subject to all of the obligations of the Sellers from and after the Closing under that certain Loan Agreement, dated as of June 18, 1998 (the "Loan Agreement"), and all related loan documents for the Existing Financing as set forth on Schedule 4(a) hereto (together with the Loan Agreement, collectively, the "Loan Documents"). In addition, it is the intention of Sellers and Purchaser, and Purchaser hereby agrees, that, at Closing, Purchaser (or its, direct or indirect, wholly-owned subsidiary or subsidiaries) shall assume each and every obligation of Sellers arising from and after the Closing under the Loan Documents to which such Sellers are a party.
Sample 1
GMAC Loan. Schedule 4(a) hereto sets forth a true, correct and complete list of all of the Loan Documents, and the Loan Documents have not been amended, modified or otherwise supplemented except as set forth on Schedule 4(a) and contain the entire agreement between such Seller and Lender. Such Seller has delivered to or made available for inspection by Purchaser a true, correct and complete copy of the Loan Documents. Based solely on information received from Lender, the outstanding principal balance of the Existing Financing, and the balance of all escrows held in connection with the Existing Financing, in each case as of September 30, 2003, are set forth on Schedule 11(a)(xxi). All interest and other amounts due and payable under the Loan Documents have been paid in full, and to such Seller's knowledge, no default exists under the Loan Documents.
Sample 1
AutoNDA by SimpleDocs

Related to GMAC Loan

  • Term Loan Advance Subject to Section 2.3(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate plus three percent (3.00%), which interest shall be payable monthly.

  • PPP Loan On or about January 24, 2022, the PPP Loan was forgiven in full by the PPP Lender and the U.S. Small Business Administration in accordance with the terms of the PPP Loan, CARES Act, and all other applicable Laws.

  • Swing Loan Note The obligation of the Borrower to repay the unpaid principal amount of the Swing Loans made to it by PNC Bank together with interest thereon shall be evidenced by a demand promissory note of the Borrower dated the Closing Date in substantially the form attached hereto as Exhibit 1.1(S) payable to the order of PNC Bank in a face amount equal to the Swing Loan Commitment.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Term Loan Note A promissory note made by the Borrower in favor of a Term Loan Lender in the principal face amount equal to such Term Loan Lender’s Term Loan Commitment, in substantially the form of Exhibit B hereto.

  • Initial Loan The obligation of the Lender to make its initial Loan hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Loan, of the condition precedent that the Lender shall have received all of the following items, each of which shall be satisfactory to the Lender and its counsel in form and substance:

  • Revolving Loan Facility On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to the Borrower from time to time during the period beginning on the Effective Date up to, but not including the Termination Date, such loans in Dollars as the Borrower may request under this Section 2.01(b) (individually, a “Revolving Loan”); provided, however, that (i) the sum of (A) the Effective Amount of all Revolving Loans made by such Lender at any time outstanding and (B) such Lender’s Revolving Proportionate Share of the Effective Amount of all L/C Obligations and all Swing Line Loans at any time outstanding shall not exceed such Lender’s Revolving Loan Commitment at such time and (ii) the sum of (A) the Effective Amount of all Revolving Loans made by all of the Revolving Lenders at any time outstanding and (B) the Effective Amount of all L/C Obligations and Swing Line Loans at any time outstanding shall not exceed the Revolving Loan Facility at such time. All Revolving Loans shall be made on a pro rata basis by the Revolving Lenders in accordance with their respective Revolving Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Revolving Lender equal to such Lender’s Revolving Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein, the Borrower may borrow, repay and reborrow Revolving Loans until the Termination Date in respect of the Revolving Loan Facility.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

Time is Money Join Law Insider Premium to draft better contracts faster.