PURCHASE MONEY LOAN Sample Clauses

PURCHASE MONEY LOAN. On the Closing Date, if Buyer (or its Affiliate acquiring title to the Parcel(s), as the case may be) elects to obtain financing through a purchase money loan, not to exceed the aggregate principal amount of $5,000,000 (the "PURCHASE MONEY LOAN"), Buyer (or its Affiliate acquiring title to the Parcel(s), as the case may be) shall execute, acknowledge (where applicable) and deliver to Escrow Agent (i) a promissory note substantially in the form of EXHIBIT J attached hereto (the "PURCHASE MONEY NOTE"), which Purchase Money Note (A) shall be in an original principal amount equal to the Purchase Money Note Principal Amount, (B) shall bear interest at the rate of ten percent (10%) per annum with monthly payments, in arrears, of accrued interest due and payable thereunder until the maturity of the Purchase Money Note, (C) shall be prepayable concurrently with the prepayment of any senior loan secured by the Core Parcels (or any of them) and each Purchase Money Deed of Trust (defined below) shall contain appropriate provisions accelerating the Purchase Money Loan upon the prepayment of any such senior loan(s), and (D) shall mature on the day after the maturity date for the senior loan secured by the Core Parcels, (ii) a mortgage, assignment of rents and security agreement or deed of trust, assignment of rents and security agreement, as the case may be, substantially in the form attached hereto as EXHIBIT K (the "PURCHASE MONEY DEED OF TRUST") for each Parcel transferred to Buyer or its Affiliate hereunder whereby a security interest in and to the Parcel is created in favor of Seller to secure the Purchase Money Loan (PROVIDED THAT, each such Purchase Money Deed of Trust shall be modified as reasonably necessary in order to address local law issues and concerns of the jurisdiction where the Parcel that is the collateral thereunder is located), (iii) a hazardous substances remediation and indemnification agreement substantially in the form attached hereto as EXHIBIT L (the "ENVIRONMENTAL INDEMNITY"), (iv) such UCC financing statements as Seller may reasonably require in order to evidence and perfect Seller's security interest in any personal property located on or used in connection with any Parcel transferred to Buyer or its Affiliate hereunder, (v) copies of "borrower's" governance documents and such other documentation as Seller may reasonably require to evidence the due formation or organization of "borrower" and the due authorization by "borrower" of the Purch...
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PURCHASE MONEY LOAN. You may include the name of the seller on the check or draft for this Note.
Sample 1
PURCHASE MONEY LOAN. 7 1.37 Residential ............................................................................................7 1.38 Schedule ...............................................................................................7 1.39 Second Deed of Trust ...................................................................................8 1.40 Security ...............................................................................................8 1.41 Servicer ...............................................................................................8 1.42 Total Insured Amount ...................................................................................8 2 Coverage .......................................................................................................8 2.1
Sample 1
PURCHASE MONEY LOAN. Purchaser shall have executed the Purchase Money Loan Documents and the same (as appropriate) shall have been delivered to the Title Company for recording.
Sample 1
PURCHASE MONEY LOAN. The Corporation shall, upon the terms and subject to the conditions of this Agreement, extend credit to the Trust in the principal amount of Three Hundred and Fifty Million Dollars ($350,000,000), which is the purchase price payable by the Trust for the shares of ESOP Shares. Prior to receipt of the shares of ESOP Shares, the Trust will duly execute and deliver the Purchase Money Loan Documents.
Sample 1
PURCHASE MONEY LOAN. Borrower acknowledges that the fundamental nature and character of the Group Loans is a purchase money loan in that the existence and use of the credit accommodations will enable and facilitate the acquisition of Used Motor Vehicles and service parts and accessories merchandise as inventory for Borrower and all of the Dealers.
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Related to PURCHASE MONEY LOAN

  • The Loan Section 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Loan Agreement, various currencies that shall have an aggregate value equivalent to the amount of one hundred million dollars ($100,000,000), being the sum of withdrawals of the proceeds of the Loan, with each withdrawal valued by the Bank as of the date of such withdrawal.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Repayment If no repayment right is set forth on the face hereof, this Note may not be repaid at the option of the Holder hereof prior to the Stated Maturity Date. If a repayment right is granted on the face of this Note, this Note may be subject to repayment at the option of the Holder on any Interest Payment Date on and after the date, if any, indicated on the face hereof (each, a “Repayment Date”). On any Repayment Date, unless otherwise specified on the face hereof, this Note shall be repayable in whole or in part in increments of $1,000 at the option of the Holder hereof at a repayment price equal to 100% of the Principal Amount to be repaid, together with interest thereon payable to the Repayment Date. For this Note to be repaid in whole or in part at the option of the Holder hereof, this Note must be received by the Indenture Trustee, with the form entitled “Option to Elect Repayment”, below, duly completed by the Indenture Trustee. Exercise of such repayment option by the Holder hereof shall be irrevocable. In the event of a repayment of this Note in part only, a new Note for the portion hereof not repaid shall be issued in the name of the Holder hereof upon the surrender hereof.

  • Refinancing Debt Borrowed Money that is the result of an extension, renewal or refinancing of Debt permitted under Section 10.2.1(b), (d) or (f).

  • Repayment of Loan 6.1.1 Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement.

  • Evidence of Debt; Repayment of Loans (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the principal amount of each Loan of such Lender as provided in Section 2.11.

  • Prepayment of Debt Make any prepayment (whether optional or mandatory), repurchase, redemption, defeasance or any other payment in respect of any Subordinated Debt.

  • Prepayment of Other Indebtedness, Etc (a) Amend or modify any of the terms of any Indebtedness of any Loan Party or any Subsidiary (other than Indebtedness arising under the Loan Documents) if such amendment or modification would add or change any terms in a manner adverse to any Loan Party or any Subsidiary, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto.

  • Prepayment of Loan So long as ECOLOGY shall hold this loan, the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount . Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest, the RECIPIENT shall first contact ECOLOGY’s Revenue/Receivable Manager of the Fiscal Office.

  • Repayment of Debt If the General Partners unanimously elect, or are required by one or more third parties, to repay or repurchase at the Closing Date (or thereafter in connection with the sale of properties) any indebtedness of Target or any subsidiary of Target, at the Closing Date (or thereafter in connection with the sale of properties), the General Partners shall pay in cash such indebtedness plus any costs, expenses or fees associated with such repayment or repurchase, including without limitation any prepayment fees or penalties, to be repaid, pro rata in accordance with their respective Capital Accounts. For these purposes, “indebtedness” shall be deemed to include the costs of unwinding any interest rate swaps, caps, treasury locks and other derivatives and xxxxxx associated with the indebtedness that is being repaid.

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