Outstanding Loan. Notwithstanding any other provision of this Article X, the portion of a Participant’s Account that secures a loan to such Participant under Article IX may not be taken as a withdrawal.
Outstanding Loan. As of any Due Date, a Loan with a Stated Principal Balance greater than zero, which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Loan prior to such Due Date.
Outstanding Loan. In connection with the Prior Agreement, Employer has previously made a ten-year loan to Employee in the original principal amount of $3,000,000 bearing interest at the applicable federal long-term rate (determined in accordance with section 1274 of the Code) payable annually in arrears, and repayable annually as of each anniversary of the making of such loan in equal installments of principal of $300,000 plus accrued interest. Following the Effective Time, payment of each installment of principal and interest will be deferred until determination of Employer's Operating Earnings for the prior fiscal year. If Employee remains in the employ of Employer on the date an installment is due and if Employer has met the goal of Operating Earnings of $35,000,000 or more for the prior year, such installment and accrued interest shall be forgiven; and all remaining installments and accrued interest shall be forgiven in the event of termination of the Employment Period pursuant to Sections 3(a), (b), (e) and (f) hereof. For purposes of this subsection (f), "Operating Earnings" shall mean (i) Earnings Before Taxes before provisions for interest income and expense, gain or loss on investments (and marketable securities), gain or loss on businesses sold and before write-up or write-down of assets plus (ii) any Add Back Expenses.
Outstanding Loan. Employee has an outstanding loan balance due to the Company in the amount of $15,315. This loan balance will be forgiven in its entirety if and when the Company determines, in its sole discretion, that Employee has completed satisfactorily the technology transfer/manufacturing outsourcing project. If a Termination Without Cause occurs prior to the loan forgiveness date, then the loan balance would be forgiven at that time. Otherwise, the entire loan balance is due and payable within thirty (30) days of the effective date of any termination of Employee's employment.
Outstanding Loan. The outstanding loan from CMC (Australia) Pty. Limited to the Executive in the unpaid principal amount of $A 150,000.00 as of October 13, 1999, and secured by real property located at 660 Xxxx Xxxxxxx Xxxx Xxxxx Xxxxx Xxx XXX Xxxxxxxxx, xxidenced by a second mortgage note dated the 6th day of June, 1994, shall, at the Executive's option, be repaid from either (i) the proceeds of the sale of Executive's residence in Australia or (ii) the proceeds of a new loan from the Company in the amount of the unpaid principal and interest and upon terms and conditions satisfactory to the Company and secured by a Deed of Trust lien in favor of the Company on Executive's residence in the vicinity of Dallas, Texas, at the time Executive completes relocation of his residence to Dallas, Texas.
Outstanding Loan. You agree that you shall pay to the Company $1,000.00 on or before December 10, 2004 and that 25,000 shares of Avici Common Stock owned by you (the applicable stock certificate for which is held by the Company as security) shall be forfeited, returned to the Company and cancelled, in full satisfaction of the Secured Promissory Note dated July 27, 2000, between you and the Company.
Outstanding Loan. 22 OVERCOLLATERALIZATION STEP-UP TRIGGER EVENT..................................................................22 PASS-THROUGH RATE............................................................................................23
Outstanding Loan. After giving effect to the $7,500,000 principal Loan payment made by the Borrower to CLBN on or about October 2, 1995, the parties hereto acknowledge and agree that the outstanding principal amount of the Loan (as of October 3, 1995) is $6,500,000.
Outstanding Loan. As of any Due Date, a Loan with a Stated Principal Balance greater than zero, which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Loan prior to such Due Date. Overcollateralization Amount ---------------------------- As of any Distribution Date, (a) the Pool Principal Balance as of the last day of the immediately preceding Due Period minus (b) the aggregate Class Certificate Balance of all Classes of Offered Certificates (after taking into account all distributions of principal on that Distribution Date).
Outstanding Loan. Notwithstanding any other provision of this Article, if a Participant's Account shows that the Participant has an outstanding balance securing a loan, the Participant shall not be permitted to make a withdrawal pursuant to this Article of any portion of the Participant's Account that secures the loan.
