On the Construction Loan Repayment Date Sample Clauses

On the Construction Loan Repayment Date. Borrower shall, upon demand by Agent, cause the redemption of all of the Outstanding Series 1991 Bonds and Outstanding Series 1993 Bonds on the Tranche A Construction Loan Repayment Date (including, without limitation, notifying the Series 1991 Trustee and/or the Series 1993 Trustee, as the case may be, to effect such redemptions on such date) if the Tranche A Agreement Construction Loans are not converted to Tranche A Agreement Term Loans by the Lenders on or prior to such date in accordance with the provisions of this Agreement; provided that if due to the timing of such demand given by Agent to Borrower, the Series 1991 Trustee and/or the Series 1993 Trustee, as the case may be, cannot effect such redemption on the Tranche A Construction Loan Repayment Date, Borrower shall cause the Series 1991 Trustee and/or the Series 1993 Trustee, as the case may be, to effect such redemption as soon as possible following such date as is permitted under the Series 0000 Xxxxxxxxx and/or the Series 1993 Indenture, as the case may be. No Series 1991 Drawing made by the Series 1991 Trustee to pay the purchase price of Series 1991 Bonds being redeemed shall be converted into any Tranche A Loan, and Borrower shall reimburse the Issuing Bank as required pursuant to Section [3.2(d) (i)] hereof. No Series 1993 Drawing made by the Series 1993 Trustee to pay the purchase price of Series 1993 Bonds being redeemed shall be converted into any Tranche B Loan, and Borrower shall reimburse the Issuing Bank as required pursuant to Section [3.2(d) (i)] hereof. 63 Borrower shall, upon demand by Agent, cause the redemption of all of the Outstanding Series 1993 Bonds and Outstanding Series 1991 Bonds on the Tranche B Construction Loan Repayment Date (including, without limitation, notifying the Series 1993 Trustee and/or the Series 1991 Trustee, as the case may be, to effect such redemptions on such date) if the Tranche B Agreement Construction Loans are not converted to Tranche B Agreement Term Loans by the Lenders on or prior to such date in accordance with the provisions of this Agreement; provided that if due to the timing of such demand given by Agent to Borrower, the Series 1993 Trustee and/or the Series 1991 Trustee, as the case may be, cannot effect such redemption on the Tranche B Construction Loan Repayment Date, Borrower shall cause the Series 1993 Trustee and/or the Series 1991 Trustee, as the case may be, to effect such redemption as soon as possible following such date as is...
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Related to On the Construction Loan Repayment Date

  • No Construction Loans No Mortgage Loan was made in connection with (i) the construction or rehabilitation of a Mortgage Property or (ii) facilitating the trade-in or exchange of a Mortgaged Property other than a construction-to-permanent loan which has converted to a permanent Mortgage Loan;

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Loan Repayment Upon the terms and conditions of this Agreement, the Issuer agrees to make the Loan to the Company. The proceeds of the Loan shall be deposited with the Trustee pursuant to Section 3.3 hereof. In consideration of and in repayment of the Loan, the Company shall make, as Loan Payments, to the Trustee for the account of the Issuer, payments which correspond, as to time, and are equal in amount as of the Loan Payment Date, to the corresponding Bond Service Charges payable on the Bonds. All Loan Payments received by the Trustee shall be held and disbursed in accordance with the provisions of the Indenture and this Agreement for application to the payment of Bond Service Charges. The Company shall be entitled to a credit against the Loan Payments required to be made on any Loan Payment Date to the extent that the balance of the Bond Fund is then in excess of amounts required (a) for the payment of Bonds theretofore matured or theretofore called for redemption, or to be called for redemption pursuant to Section 6.1 hereof (b) for the payment of interest for which checks or drafts have been drawn and mailed by the Trustee or Paying Agent, and (c) to be deposited in the Bond Fund by the Indenture for use other than for the payment of Bond Service Charges due on that Loan Payment Date. Except for such interest of the Company as may hereafter arise pursuant to Section 8.2 hereof or Sections 5.06 or 5.07 of the Indenture, the Company and the Issuer each acknowledge that neither the Company, the State nor the Issuer has any interest in the Bond Fund or the Bond Purchase Fund, and any moneys deposited therein shall be in the custody of and held by the Trustee in trust for the benefit of the Holders.

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave.

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.

  • Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New Loans A certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may be, as specified in Sections 5.8.1 [Increased Costs Generally] or 5.8.2 [Capital Requirements] and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Lender, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.

  • Application of Funds in the Collection Account The Master Servicer may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes:

  • Refinancing Preparation Advance If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Association shall pay the amount so withdrawn to itself or the Bank, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

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