Common use of New Loan Clause in Contracts

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_____.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement