Common use of LOAN VALUE Clause in Contracts

LOAN VALUE. You may borrow any amount up to the difference between the loan value and any existing contract debt. At any time the loan value is 90% of the net cash value. There is one exception. If the contract is in default, the loan value during the days of grace is what it was on the date of default.

LOAN VALUE. You may borrow any amount up to the difference between the loan value and any existing contract debt. At any time the loan value is 90% of the net cash value. There is one exception. If the contract is in I default, the loan value during the days of grace is what it was on the date of default.