Maximum Loan Sample Clauses
The Maximum Loan clause sets a cap on the total amount of money that can be borrowed under a loan agreement. It specifies the highest principal sum the lender is obligated to provide, regardless of the borrower's requests or needs. For example, even if the borrower qualifies for more based on collateral or creditworthiness, the lender will not advance funds beyond this predetermined limit. This clause ensures both parties have a clear understanding of the financial boundaries of the agreement and protects the lender from overexposure while helping the borrower manage expectations.
Maximum Loan. (a) A loan to a Member may not exceed 50% of the then value of such Member's Vested Interest in his Accounts.
(b) Paragraph (a) above to the contrary notwithstanding, the amount of a loan made to a Member under this Article shall not exceed an amount equal to the difference between:
(1) The lesser of $50,000 (reduced by the excess, if any, of (A) the highest outstanding balance of loans from the Plan during the one-year period ending on the day before the date on which the loan is made over (B) the outstanding balance of loans from the Plan on the date on which the loan is made) or one-half of the present value of the Member's total nonforfeitable accrued benefit under all qualified plans of the Employer or a Controlled Entity; minus
(2) The total outstanding loan balance of the Member under all other loans from all qualified plans of the Employer or a Controlled Entity.
Maximum Loan. The maximum amount a Participant may borrow, including the outstanding balance of existing Plan loans, is 50% of his or her vested Account balances, not to exceed $50,000. However, the $50,000 maximum is reduced by the Participant’s highest outstanding loan balance during the 12 month period ending on the day before the day the loan is processed. For purposes of this paragraph, the qualified plans of all Related Companies shall be treated as though they are part of this Plan to the extent it would decrease the maximum loan amount.
Maximum Loan. (a) A loan to a Member may not exceed 50% of the then value of such Member's Vested Interest in his Accounts (excluding his Member IRA ▇▇▇ount).
(b) Paragraph (a) above to the contrary notwithstanding, the amount of a loan made to a Member under this Article shall not exceed an amount equal to the difference between:
(1) The lesser of $50,000 (reduced by the excess, if any, of (A) the highest outstanding balance of loans from the Plan during the one-year period ending on the day before the date on which the loan is made over (B) the outstanding balance of loans from the Plan on the date on which the loan is made) or one-half of the present value of the Member's total nonforfeitable accrued benefit (excluding his Member IRA ▇▇▇ount) under all qualified plans of the Employer or a Controlled Entity; minus
(2) The total outstanding loan balance of the Member under all other loans from all qualified plans of the Employer or a Controlled Entity."
Maximum Loan. Subject to the terms of this Agreement, Lender shall make a loan (the "LOAN") to Borrower, in the aggregate maximum principal amount (the "PRINCIPAL") of
Maximum Loan. BOTS reserves the right to set and change from time to time the maximum allowed Loan percentage per Trading Strategy.
Maximum Loan. 17 Model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Maximum Loan. (a) A loan to a Member may not exceed 50% of the then value of such Member's Vested Interest in his Accounts and no loan may be made for an amount which would require the liquidation of a Member's Dow ESOP Account or the portion of a Member's Employer Contribution Account which is invested in the Company Stock Fund.
(b) Paragraph (a) above to the contrary notwithstanding, the amount of a loan made to a Member under this Article shall not exceed an amount equal to the difference between:
(1) The lesser of $50,000 (reduced by the excess, if any, of (A) the highest outstanding balance of loans from the Plan during the one-year period ending on the day before the date on which the loan is made over (B) the outstanding balance of loans from the Plan on the date on which the loan is made) or one-half of the present value of the Member's total nonforfeitable accrued benefit under all qualified plans of the Employer or a Controlled Entity; minus
(2) The total outstanding loan balance of the Member under all other loans from all qualified plans of the Employer or a Controlled Entity.
Maximum Loan