New Loan Sample Clauses
The "New Loan" clause defines the terms and conditions under which a new loan is established between the parties. It typically outlines the principal amount, interest rate, repayment schedule, and any specific covenants or requirements that must be met for the loan to be advanced. This clause ensures that both lender and borrower have a clear, mutual understanding of the obligations and expectations associated with the new loan, thereby reducing the risk of disputes and providing a structured framework for the lending arrangement.
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New Loan. Buyer may apply for mortgage loan financing (the “Loan”) on terms acceptable to Buyer: If an FHA/VA loan applies, see attached FHA/VA Loan Addendum. $ (d) Seller Financing (see attached Seller Financing Addendum) $ (e) Balance of Purchase Price in Cash at Settlement $ PURCHASE PRICE. Total of lines (a) through (e)
New Loan. The Borrower has requested that the Lender make a short-term loan in the original principal amount of $450,000.00 (the “New Loan”) to fund ongoing business operations. Upon the satisfaction of all of the conditions precedent set forth in Paragraph 4 of this Agreement, as determined by the Lender in the Lender’s sole and exclusive discretion, and subject to the terms and conditions of the New Debenture and the Related Documents, the New Loan shall (a) be made by the Lender in accordance with the terms and conditions of the New Debenture and the other Financing Documents, (b) constitute a portion of the Obligations, and (c) be secured by all of the collateral granted to the Lender by the Obligors. The Borrower hereby acknowledges and agrees that (x) the New Loan is a single, one time loan, (y) by making the New Loan the Lender is not agreeing to make any further loans in the future, and (z) will be repaid in full on or before July 29, 2012.
New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $21,052,640, receipt of which is hereby acknowledged by the Trustee.
(b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.
New Loan. Buyer agrees to apply for a new loan as ------------------------ provided in Section 2~3. Buyer will apply for one or more of the following loans: [ ] CONVENTIONAL [ ] FHA [ ] VA [ ] OTHER (specify) ____________________________ If an FHAWA loan applies, see attached FHANA Loan Addendum If the loan is to include any particular terms, then check below and give details: [ ] SPECIFIC LOAN TERMS ________________________
New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $4,705,506.22, receipt of which is hereby acknowledged by the Trustee.
(b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.
New Loan. Buyer shall be responsible for all costs with respect to any new loan obtained by ▇▇▇▇▇. Seller shall have no obligation to pay any charge in connection therewith unless specifically set forth in this contract.
New Loan. This agreement is contingent upon buyer's ability to obtain a new loan in the amount of $ . Buyer is not required to accept any loan w ith interest rate exceeding % amortized over years or pay any closing costs or points exceeding $ . Buyer shall provide seller w ith w ▇▇▇▇▇▇ proof of a loan commitment on or before , 20 .
New Loan. Buyer agrees to apply for a new loan as provided in Section 2.3. Buyer will apply for one or more of the following loans: [ ] CONVENTIONAL [ ] FHA [ ] VA [ ] OTHER (specify) _______. If an FHA/VA loan applies, see attached FHA/VA Loan Addendum. If the loan is to include any particular terms, then check below and give details: [ ]SPECIFIC LOAN TERMS_____________ $______ (c) Loan Assumption (see attached assumption Addendum if applicable) $89,500 (d) Seller Financing (see attached Seller Financing Addendum if applicable) $_____ (e) Other (specify)___________ $10,000 (f) Balance of Purchase Price in Cash at Settlement $100,000 PURCHASE PRICE. Total of lines (a) through (f)
New Loan. Buyer may apply for mortgage loan financing (the "Loan") on terms acceptable to Buyer: If an FHA/VA loan applies, see attached FHA/VA Loan Addendum.
New Loan. This agreement is contingent upon buyer's ability to obtain a new loan in the amount of $________________. Buyer is not required to accept any loan with interest rate exceeding ___________% amortized over __________years or pay any closing costs or points exceeding $____________. Buyer shall provide seller with written proof of a loan commitment on or before_______________, 20_____.