Loan Restructuring Sample Clauses
The Loan Restructuring clause outlines the terms and procedures for modifying the original repayment schedule or other key conditions of a loan agreement. Typically, this clause allows the lender and borrower to negotiate changes such as extending the loan term, adjusting interest rates, or altering payment amounts in response to financial difficulties or changing circumstances. Its core practical function is to provide a formal mechanism for adapting the loan agreement to new realities, thereby helping both parties avoid default and maintain a workable financial relationship.
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Loan Restructuring. If Party A fails to repay the loan due on time, Party A shall submit a written application for loan restructuring to Party B at least one month before the maturity date of the current loan. If Party B agrees to Party A’s application, the Parties shall sign a loan restructuring agreement. If Party B disagrees with Party A’s application, Party A shall still repay the due loan in accordance with the provisions of this contract. Otherwise, Party B has the right to treat the loan as overdue.
Loan Restructuring. 7.1 In case Party A fails to return due loan on schedule, it shall put forward written application of loan restructuring to Party B one month before due date of loan. If Party B agrees on Party A’s application, both parties shall sign agreement of loan restructuring. In case Party B does not agree, Party A shall repay due loan by the time agreed in this agreement. Otherwise, Party B has right to deal with this loan as past due loan.
Loan Restructuring. The Parties agree that on the Execution Date the Loans will be consolidated and restructured into a single Restructured Loan obligation in the amount of $43,245,770. The Parties agree that the Restructured Loan will be paid as follows:
(a) On the Execution Date, Caspian Services shall make a cash payment via a bank wire to Baiseitov in the amount of $6,000,000 which shall be credited to a reduction of principal due under the Restructured Loan, as of July 31, 2011. Caspian Services may elect to make cash bank wire payment directly to Baiseitov in its discretion may cause its wholly owned subsidiary Caspian Services Group Limited to effect the payment or its part thereof on its behalf;
(b) On the Closing Date, Caspian Services shall issue to Baiseitov 90,000,000 of restricted Common Stock at the agreed price of $.12 per share for a total of $10,800,000, which amount will be immediately credited against the principal of the Restructured Loan as if the Common Stock had been delivered on July 31, 2011;
(c) On the Closing Date, the balance of the Restructured Loan will be evidenced by the Note in the principal amount of $26,445,770 conforming in all material respects to Exhibit A;
(d) The Note will be secured by a first position security interest in the following described assets of Caspian Services and its subsidiaries under the terms of the Security Agreements:
(i) Assets and 100% of the shares of Caspian Services Group Limited, a British Virgin Islands company limited by shares;
(ii) Assets and 100% of the shares of Caspian Geophysical Limited a British Virgin Islands company limited by shares;
(iii) Assets and 100% of the shares of participatory interest in Caspian Services Group LLP a Republic of Kazakhstan registered and domiciled limited liability partnership;
(iv) Assets and 100% of the shares of participatory interest in Tat-Arka LLP a Republic of Kazakhstan registered and domiciled limited liability partnership;
(v) Assets and shares of common stock representing 80% of the shares issued and outstanding of JSC Kazamorgeophysica a Republic of Kazakhstan registered and domiciled joint stock company;
(vi) 50% of the shares of participatory interest in Veritas Caspian LLP a Republic of Kazakhstan registered and domiciled limited liability partnership;
(vii) All geophysical equipment of Caspian Services’ subsidiaries, excluding all equipment of Veritas Caspian LLP;
(viii) All marine vessels and small size craft fleet of Caspian Services’ subsidiaries;
(ix) C...
Loan Restructuring. The Company's inventory loan with Silicon Valley Bank (the "Loan") shall have been restructured to Purchaser's satisfaction to provide for a maximum pay-down of $75,000, with the balance to be repaid over a period of no less than six months from the Closing Date.
Loan Restructuring. Notwithstanding any other term of this Agreement, beginning on and after July 31, 2022, the Principal Amount outstanding on such date will be restructured from ‘original issue discount’ loans to a cash paying loan with interest accruing and payable in accordance with Section 3.1(c).
(v) Section 3.1 (Interest) of the First Loan Agreement is amended by revising subsection (b) and adding new subsections (c), (d) and (e) as follows:
Loan Restructuring. As at the date of the Agreement, the Property Company was indebted to the Group in the aggregate amount of approximately HK$5,697 million. In accordance with the Agreement, the Property Company and the Group completed a loan restructuring prior to the entering into of the Agreement, whereby all such loans had been assigned to and capitalised by the Vendor. Conditions to the Agreement Despite that the Disposal Completion has taken place, the parties to the Agreement are required to fulfill the following conditions post Disposal Completion, unless such conditions are waived:
Loan Restructuring