Loan Obligation. If a student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund, and if the student has received federal student financial aid funds, the student is entitled to a refund of the monies not paid from federal student financial aid program funds. If a student defaults on a federal or state loan, both of the following may occur:
Loan Obligation. 5.1 The loan obligation of the Company as at the Signature Date is R0 (Rand nil), as stated in clause 13 of Annexure “A”.
Loan Obligation. 13.1 Total anticipated loan of obligation of the Company as at the Signature Date is the sum of Nil (Nil rand).
Loan Obligation. You will be responsible for the repayment of the amounts owed, regardless of who initiated any transactions under the Account. You have the right to cancel this Agreement by notifying us in writing. Cancellation does not relieve any obligator of liability for any and all charges incurred prior to cancellation. Each obligator is at all times responsible for all amounts borrowed by any authorized user(s).
Loan Obligation. 10.1 The Shareholder acknowledges that he is aware, in terms of the Company’s MOI, and/or the Rules and/or Use Agreement, that he and the other Shareholders shall be bound to a loan agreement with the Company in terms of which an amount of money (the “Loan Obligation”) has been or will be loaned to the Company which amount shall be determined by the Directors from time to time; provided that any increase in the Loan Obligation should not be effected without the required resolution being passed by the Shareholders in terms of clause 10.2 and the MOI of the Company.
Loan Obligation. Pursuant to the Noteholder’s full and complete legal assignment of all legal right, title and interest to the patent applications appended hereto as consideration.
Loan Obligation. Sellers have advised Buyer that, as of the Execution Date, the Properties are encumbered by certain liens securing indebtedness in the aggregate amount of less than $20,000,000.00 (collectively, the "Loan Obligation"). Sellers shall, at their sole cost and expense, fully prepay the Loan Obligation on the Closing Date, pursuant to the terms of Section 6.5 hereof.
Loan Obligation. The lenders under the Loan Obligation (and any other party with applicable consent rights) shall permit Sellers to fully prepay the Loan Obligation in accordance with the terms of Section 6.5 hereof.
Loan Obligation. Sellers shall, at their sole cost and expense, fully prepay the Loan Obligation on the Closing Date (so that upon the Closing, Buyer will take title to the Properties free and clear of any liens relating to the Loan Obligation). Sellers shall pay all fees, charges and related costs in connection with the prepayment of the Loan Obligation (including, without limitation, any prepayment fees or penalties), which fees, charges, penalties and costs shall not result in any adjustment to the Purchase Price.
Loan Obligation. Subject to Section 3.2 below, the Plan Sponsor agrees that if the Test Condition is not met by the Company on the Testing Date, it shall make available to the Company a Loan in an aggregate principal amount equal to the lesser of (i) the Cash Shortfall and (ii) the Maximum Amount (such lesser amount, the “Loan Amount”).
