Other Loan Terms. Each loan of portfolio securities must be terminable at any time by the Lending Agent on behalf of the Fund at any time and the Borrower shall be required to return the loaned securities as promptly as practicable and in any event within the customary period for settlement of trades of such securities. Although voting rights may pass with the loaned securities, if a Fund becomes aware of a proxy involving a material event that is likely to affect the Fund’s investment in such securities, the Fund must direct the Lending Agent to take action to call the loan in time to vote the proxy
Other Loan Terms. Loan Terms Cash Advance Mobile Asset Finance Maximum gross Cash Advance amount Kenya Shillings forty million (KES 40,000,000) Kenya Shillings forty million (KES 40,000,000) Minimum gross Cash Advance amount Kenya Shillings ten thousand (KES 10,000) Kenya Shillings one hundred thousand (KES 100,000) Installment percentages options 33%, 50% or 67% of the daily Till or Paybill Revenues * percentages outside of above range may be considered subject to approval by the Lender Between 10% and 66% of the daily Till or Paybill Revenues * percentages outside of above range may be considered subject to approval by the Lender Maximum tenor 12 months 36 months
Other Loan Terms. LIMITED RECOURSE: No deficiency or other judgment for repayment of principal and interest on the Loan will be entered by lender against Borrower or Key Principals identified below following an event of default except in the event of fraud or material misrepresentation by Borrower or Key Principals in connection with the Loan (including but not limited to the failure to pay the first full monthly payment of principal and interest when due). In addition, Borrower and Key Principals will be liable for certain recourse obligations as more particularly provided in Lender's standard promissory note form and described in paragraph 23 of the Summary of Standard Terms and Conditions attached hereto. CARVE-OUTS: Ronaxx X. Xxxxx xxx John X. Xxxxxxx ("Xey Principals", whether one or more) will each execute a guaranty with respect to the limited recourse carve-out provisions described above.
Other Loan Terms. In connection with the loans set forth in Section 7.1 and 7.2 above (the "Loans") Employee and Employee's spouse shall execute any documents reasonably requested by the Company or the institution granting the Loans, including loan and security agreements, promissory notes and deeds of trust. Such documents shall have such other terms and provisions as are typical for residential loans, including standard default provisions and a provision regarding the payment of fees and expenses, including reasonable attorneys' fees, incurred enforcing or collecting the Loans.
Other Loan Terms. Limited Recourse: No deficiency or other judgment for repayment of principal and interest on the Loan will be entered by Lender against Borrower or Key Principals following an Event of Default (as defined in the Loan Documents) except in the event of fraud or material misrepresentation by Borrower or Key Principals in connection with the Loan (including, but not limited to, the failure to pay the first full monthly payment of principal and interest when due and failure to timely establish the Lockbox required should Borrower fail to comply with the Reporting Requirements, as set forth hereinafter). In addition, Borrower and Key Principals will be liable for Lender's standard carve-outs and limitations as set forth in Section 2 of the Standard Terms and Conditions.
Other Loan Terms. All costs, fees or other amounts (other than interest) chargeable to Borrower by Lender under this Agreement, the Note or any other instruments, documents or agreements executed or delivered in connection herewith (collectively, the “Loan Documents”) shall be added to the outstanding principal amount of the Note on the date such sums are incurred or on the date they become due and owing from Borrower, whichever is later. Upon the occurrence of an Event of Default (as defined herein), all amounts then outstanding on the Note (including principal and interest) shall bear interest at the rate of eighteen percent (18%) per annum, compounded annually until the Event of Default is cured.
Other Loan Terms. The outstanding principal advanced to Company pursuant to the Transaction Agreements shall bear interest at the rate of twelve percent (12%) per annum, compounded annually. All costs, fees or other amounts (other than interest) chargeable to Company by Lender under the Transaction Agreements shall be added to the outstanding principal on the date such sums are incurred or on the date they become due and owing from Company, whichever is later. Upon the occurrence of an Event of Default under the Transaction Agreements, all amounts then outstanding (including principal and interest) shall bear interest at the rate of eighteen percent (18%) per annum, compounded annually until the Event of Default is cured. Notwithstanding any other provision of the Transaction Agreements, interest under the Transaction Agreements shall not exceed the maximum rate permitted by law. If any amount is paid under the Transaction Agreements as interest in excess of such maximum rate, then the amount so paid will not constitute interest but will constitute a payment on account of the principal amount advanced to the Company pursuant to the Transaction Agreements. If such excessive interest exceeds the unpaid principal balance of the Note, such excess shall be refunded to the Company.
Other Loan Terms. In connection with the loans set forth in Sections 7.1 and 7.2 above (the “Loans”) Employee and Employee’s spouse shall execute any documents reasonably requested by Company, including loan and security agreements, promissory notes and deeds of trust. Such documents shall have such other terms and provisions as are typical for residential/personal loans, including standard default provisions and a provision regarding the payment of fees and expenses, including reasonable attorneys’ fees, incurred enforcing or collecting the Loans. Additionally, the Loans shall provide that they are to be forgiven if Employee dies or becomes permanently disabled while he is an employee of the Company. Employee acknowledges that nothing herein will limit the Company’s right to terminate Employee’s employment at any time, in its discretion, pursuant to Section 9.1(b) hereof.
Other Loan Terms
