Refinance Clause Samples
A refinance clause allows one party, typically a borrower, to replace an existing loan with a new one, often to take advantage of better terms such as lower interest rates or extended repayment periods. This clause outlines the conditions under which refinancing is permitted, including any required approvals, fees, or limitations on timing and frequency. Its core practical function is to provide flexibility for the borrower to improve their financial position or adapt to changing market conditions, while also protecting the lender’s interests by setting clear parameters for when and how refinancing can occur.
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Refinance. If Borrower has identified the Mortgage Loan as a Refinance on the Summary of Loan Terms, then: Borrower is refinancing the Mortgaged Property in connection with the closing of the Mortgage Loan, Key Principal’s Controlling Interest in Borrower will not change as a result of, or in connection with, the refinance, and no Transfer of a Controlling Interest in Borrower is occurring in connection with the closing of the Mortgage Loan; and Borrower has fully disclosed to Lender as applicable, either the source (including the full name of each Person) of any cash-in funds provided by Borrower or otherwise required to close the Mortgage Loan or the intended use of any cash-out proceeds (and any recipient (including the full name of each Person) of any such proceeds) received from Lender in connection with the refinancing, as applicable. Recent Acquisitions. In the event that the Mortgaged Property was acquired by Borrower, Key Principal, Guarantor, or a Borrower Affiliate (or if a Controlling Interest in Borrower was acquired by Key Principal, Guarantor, or another Borrower Affiliate, as applicable) within the twenty-four (24) month period prior to the Effective Date, Borrower has also delivered to Lender complete fully executed copies of all Acquisition Closing Documents related to such prior Acquisition. - PERSONAL LIABILITY Non-Recourse Mortgage Loan; Exceptions. Except as otherwise provided in this Article 3 or in any other Loan Document, none of Borrower, or any director, officer, manager, member, partner, shareholder, trustee, trust beneficiary, or employee of Borrower, shall have personal liability under this Loan Agreement or any other Loan Document for the repayment of the Indebtedness or for the performance of any other obligations of Borrower under the Loan Documents, and ▇▇▇▇▇▇’s only recourse for the satisfaction of such Indebtedness and the performance of such obligations shall be ▇▇▇▇▇▇’s exercise of its rights and remedies with respect to the Mortgaged Property and any other collateral held by ▇▇▇▇▇▇ as security for the Indebtedness. This limitation on Borrower’s liability shall not limit or impair Lender’s enforcement of its rights against Guarantor under any Loan Document. Personal Liability of Borrower (Exceptions to Non-Recourse Provision).
Refinance. The Lender shall have the option to obtain any refinance facility or loan from any Person, against the security of this Loan.
Refinance. ▇▇▇▇▇▇▇▇ agrees that the entire outstanding amount of the Loan, including all accrued and unpaid interest, if any, will be due and payable if Borrower refinances the Loan. If the Borrower refinances any other mortgage loan or obtains an equity line of credit secured by the Property: (a) the Lender will not subordinate the Mortgage to any such refinanced or equity mortgages, and (b) the Lender may declare the entire outstanding amount of the Loan, including all accrued and unpaid interest, if any, immediately due and payable.
Refinance. In respect of any security or Indebtedness, means to refinance, extend, renew or re-fund, or to issue a security or Indebtedness in exchange or replacement for, such security or Indebtedness in whole or in part. Refinanced and Refinancing shall have correlative meanings.
Refinance. The "Amount Refinanced" is included in the amount financed under this Agreement. If the Amount Refinanced is under an agreemntewith a third party, you acknowledge you have the right to terminate the agreement and you will provide Xeroxwitha statement from the third party idetnifying the equipment at issue, the amount to be paid off and the payee's name and mailing address. If the Amount Refinanced is under an agreement with Xerox, the refinancing will renrdyeour prior agreement null and void. If you breach any of your obligations under this Agreement, the full Amount Refinanced will be immediately due and payable.
1. W7845PT - Refinance of Xerox Agreement $3,269.00 10.5% $946.60
Refinance. The "Amount Refinanced" is included in the amount financed under this Agreement. If the Amount Refinanced is under an agreement with a third party, you acknowledge you have the right to terminate the agreement and you will provide Xerox with a statement from the third party identifying the equipment at issue, the amount to be paid off and the payee's name and mailing address. If the Amount Refinanced is under an agreement with Xerox, the refinancing will render your prior agreement null and void. If you breach any of your obligations under this Agreement, the full Amount Refinanced will be immediately due and payable.
Refinance. It, directly or indirectly, shall not take any action or permit or cause any action to be taken by any of its agents or Affiliates, or by any independent contractor(s) on its behalf, to personally, by telephone, mail, or electronically by e-mail or through the Internet or otherwise solicit the Lease-Merchandise Lessee under any Lease to refinance such Lease, in whole or in part, except as permitted pursuant to the Lease Decisioning Guidelines.
Refinance. The City shall permit a prepayment and refinance of the First Lender Loan and shall agree to subordinate this Agreement and the City Deed of Trust to the refinanced First Lender Loan provided that:
(1) following such refinance, the principal amount of all debt secured by the Property does not exceed the Permitted Encumbrance Amount;
(2) the refinanced First Lender Loan is a fully amortized fixed rate loan, is fully documented, and requires no balloon payments;
(3) if the remaining balance of the original First Lender Loan exceeds ninety percent (90%) of the Maximum Restricted Resale Price, then the refinanced First Lender Loan reduces the Owner's principal and interest payments; and
(4) the total new housing cost to the Owner after the refinance does not exceed the Owner's ability to pay.
Refinance. For purposes of this Agreement, “Refinance” means any voluntary or involuntary refinancing, encumbrance, or other hypothecation of the Property, including, without limitation, any encumbrance of the Property by a mortgage or deed of trust that is recorded after this Agreement. Any Refinance of the Property will be subject to the conditions set forth in this Agreement.
Refinance. The "Amount Refinanced" is included in the amount financed under this Agreement. If the Amount Refinanced is under an agreement with a third party, you acknowledge you have the right to terminate the agreement and you will provide Xerox with a statement from the third party identifying the equipment at issue, the amount to be paid off and the payee's name and mailing address. If the Amount Refinanced is under an agreement with Xerox, the refinancing will render your prior agreement null and void. If you breach any of your obligations under this Agreement, the full Amount Refinanced will be immediately due and payable. GENERAL TERMS & CONDITIONS: