Maximum Loan-To-Value Sample Clauses

Maximum Loan-To-Value. Receipt and satisfactory review of an appraisal of the Premises indicating a loan-to-value not to exceed eighty five percent (85%) of the amount equal to the appraised value of the Premises less the Environmental Reserve.
Sample 1
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Maximum Loan-To-Value. The loan to value of the Property does not exceed sixty-six percent (66%) based on an updated appraisal obtained at Borrower's cost; provided that Borrower shall not be obligated to pay for more than two updated appraisals in any calendar year.
Sample 1
Maximum Loan-To-Value. The combined loan to value ratio of the outstanding principal balance of the First Lien Real Estate Note plus the outstanding principal balance of the Second Lien Real Estate Note plus the outstanding principal balance of the Third Lien Real Estate Note plus the amount of the requested advance under the Third Lien Real Estate Note shall not exceed 80% of the value Loan Terms, Conditions and Procedures Addendum of the Headquarters Property based on an appraisal of the Headquarters Property satisfactory to the Agent in form and substance.
Sample 1
Maximum Loan-To-Value. Receipt and satisfactory review of an appraisal of each Pledged Pool Property securing the loan indicating a loan-to-value for the applicable Note not to exceed eighty five percent (85%) of the appraised value of said Pledged Pool Property less an environmental reserve, where required, in an amount determined in the sole discretion of Bank (as listed in Schedule A attached hereto, as may be amended, modified or restated, from time to time);
Sample 1
Maximum Loan-To-Value. The unpaid principal balance of the Loan shall not be more than eighty percent (80%) of the as stabilized value of the Property as reasonably determined by Lender.
Sample 1
Maximum Loan-To-Value. The principal amount of the Loans (including, if applicable, the Primary Commitment Increase under §2.10 and the Commitment Increase under §2.11 hereof) shall not exceed sixty percent (60%) of the Appraised Value (as determined by the Appraisal of the Mortgaged Property most recently delivered to, and approved by, the Required Lenders in accordance with the terms of this Agreement) of the Mortgaged Property. This covenant shall be tested quarterly at the end of each calendar quarter commencing with the calendar quarter ending December 31, 2009 and continuing through and including the Maturity Date. In the event any such quarterly test reveals that the then principal amount of the Loans exceeds sixty percent (60%) of the then Appraised Value, Borrower and Guarantor shall be required to prepay the Loans within thirty (30) days in an amount necessary to satisfy this covenant, which prepayment shall not be prohibited during the Lock-Out Period. In connection with any such prepayment of the Loans, Borrower shall pay Agent for the account of the Lenders any sums that may be due under §4.8. Any portion of the Loans that is prepaid may not be reborrowed.
Sample 1
Maximum Loan-To-Value. Borrower shall at all times maintain a Loan to Value of less than or equal to 40%.
Sample 1
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Related to Maximum Loan-To-Value

  • Loan to Value The maximum principal amount of the Loan does not exceed one hundred twenty-five percent (125%) of the aggregate fair market value of the Properties.

  • Loan-to-Value Ratio The fraction, expressed as a percentage, the numerator of which is the original principal balance of the related Mortgage Loan and the denominator of which is the Appraised Value of the related Mortgaged Property.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Loan Amount 4. ACCOUNT NAME(S) .............................................................................................................................................................................. BANK NAME / BRANCH ...................................................................................................................................................................

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including September 6, 2016, $13,000,000, (ii) as of any date of determination during the period from September 7, 2016 through and including October 2, 2016, $17,500,000, and (iii) as of any date of determination during the period from October 3, 2016 through and including December 31, 2016, $20,000,000.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Funding Availability This Contract is at all times subject to state appropriations. The Department makes no express or implied representation or guarantee of continued or future funding under this Contract. The Department has, as of the date of the execution of this Contract, obtained all requisite approvals and authority to enter into and perform its obligations under this Contract, including, without limitation, the obligation to make the initial payment or payments required to be made under this Contract on the date or dates upon which such initial payment or payments may otherwise be disbursed during the current contract period, (i.e., Sept ember 1, 2015, through August 31, 2017). The Grantee acknowledges the Department’s authority to make such payments is contingent upon the Texas Legislature's appropriation to the Department of sufficient funds and the availability of funds to the Department for such purpose. If the State of Texas or the federal government terminates its appropriation through the Department or fails to pay the full amount of the allocation for the operation of any grant or reimbursement program hereunder , or the funds are otherwise unavailable, the Department may immediately and without penalty reduce payments or terminate this Contract, in whole or in part. Upon termination of the Contract or reduction of payments, the Grantee shall return to the Department any unexpended funds already disbursed to the Grantee. Neither the Department nor the State of Texas shall incur liability for damages or any loss that may be caused or associated with such termination or reduction of payments. The Department shall not be required to give prior notice for termination or reduction of payments.

  • Maximum Interest Rate In no event shall any interest rate provided for hereunder exceed the maximum rate legally chargeable under applicable law with respect to loans of the Type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon payment in full of the Obligations, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 3.3, have been paid or accrued if the interest rate otherwise set forth in this Agreement had at all times been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Agent, for the account of the applicable Lenders, an amount equal to the excess of (a) the lesser of (i) the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all times, been in effect over (b) the amount of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to the Borrower such excess.

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