{"component": "clause", "props": {"groups": [{"snippet": "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\u2019s 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 \u0007\u0003\b 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 \u0007\u0003\b 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 \u2587\u2587\u2587\u2587\u2587\u2587\u2019s only recourse for the satisfaction of such Indebtedness and the performance of such obligations shall be \u2587\u2587\u2587\u2587\u2587\u2587\u2019s exercise of its rights and remedies with respect to the Mortgaged Property and any other collateral held by \u2587\u2587\u2587\u2587\u2587\u2587 as security for the Indebtedness. This limitation on Borrower\u2019s liability shall not limit or impair Lender\u2019s enforcement of its rights against Guarantor under any Loan Document. Personal Liability of Borrower (Exceptions to Non-Recourse Provision).", "samples": [{"hash": "20r6b0DXIrs", "uri": "/contracts/20r6b0DXIrs#refinance", "label": "Multifamily Loan and Security Agreement", "score": 33.4469936315, "published": true}, {"hash": "jq4FRbYlKXM", "uri": "/contracts/jq4FRbYlKXM#refinance", "label": "Multifamily Loan and Security Agreement", "score": 32.4469936315, "published": true}, {"hash": "3AxSl656iAa", "uri": "/contracts/3AxSl656iAa#refinance", "label": "Multifamily Loan and Security Agreement", "score": 32.4469936315, "published": true}], "snippet_links": [{"key": "if-borrower", "type": "clause", "offset": [0, 11]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [27, 44]}, {"key": "summary-of-loan-terms", "type": "definition", "offset": [67, 88]}, {"key": "the-mortgaged-property", "type": "clause", "offset": [120, 142]}, {"key": "in-connection-with", "type": "clause", "offset": [143, 161]}, {"key": "the-closing", "type": "definition", "offset": [162, 173]}, {"key": "key-principal", "type": "definition", "offset": [196, 209]}, {"key": "controlling-interest", "type": "definition", "offset": [212, 232]}, {"key": "borrower-will", "type": "clause", "offset": [236, 249]}, {"key": "transfer-of-a", "type": "clause", "offset": [322, 335]}, {"key": "to-lender", "type": "clause", "offset": [468, 477]}, {"key": "the-source", "type": "clause", "offset": [504, 514]}, {"key": "each-person", "type": "clause", "offset": [543, 554]}, {"key": "funds-provided", "type": "clause", "offset": [571, 585]}, {"key": "by-borrower", "type": "clause", "offset": [586, 597]}, {"key": "intended-use", "type": "definition", "offset": [658, 670]}, {"key": "the-refinancing", "type": "clause", "offset": [818, 833]}, {"key": "recent-acquisitions", "type": "definition", "offset": [850, 869]}, {"key": "in-the-event", "type": "clause", "offset": [871, 883]}, {"key": "borrower-affiliate", "type": "definition", "offset": [969, 987]}, {"key": "prior-to-the-effective-date", "type": "clause", "offset": [1159, 1186]}, {"key": "copies-of-all", "type": "clause", "offset": [1250, 1263]}, {"key": "closing-documents", "type": "definition", "offset": [1276, 1293]}, {"key": "related-to", "type": "definition", "offset": [1294, 1304]}, {"key": "prior-acquisition", "type": "definition", "offset": [1310, 1327]}, {"key": "except-as-otherwise-provided", "type": "clause", "offset": [1390, 1418]}, {"key": "article-3", "type": "clause", "offset": [1427, 1436]}, {"key": "other-loan", "type": "clause", "offset": [1447, 1457]}, {"key": "trust-beneficiary", "type": "clause", "offset": [1560, 1577]}, {"key": "agreement-or", "type": "definition", "offset": [1650, 1662]}, {"key": "repayment-of", "type": "clause", "offset": [1695, 1707]}, {"key": "the-performance", "type": "clause", "offset": [1732, 1747]}, {"key": "other-obligations-of-borrower", "type": "clause", "offset": [1755, 1784]}, {"key": "the-loan-documents", "type": "clause", "offset": [1791, 1809]}, {"key": "satisfaction-of", "type": "clause", "offset": [1846, 1861]}, {"key": "obligations-shall", "type": "definition", "offset": [1908, 1925]}, {"key": "exercise-of", "type": "clause", "offset": [1938, 1949]}, {"key": "rights-and-remedies", "type": "definition", "offset": [1954, 1973]}, {"key": "with-respect-to", "type": "clause", "offset": [1974, 1989]}, {"key": "other-collateral", "type": "definition", "offset": [2021, 2037]}, {"key": "security-for-the-indebtedness", "type": "clause", "offset": [2056, 2085]}, {"key": "limitation-on", "type": "definition", "offset": [2092, 2105]}, {"key": "enforcement-of", "type": "clause", "offset": [2162, 2176]}, {"key": "any-loan", "type": "clause", "offset": [2212, 2220]}, {"key": "personal-liability-of-borrower", "type": "clause", "offset": [2231, 2261]}, {"key": "exceptions-to", "type": "clause", "offset": [2263, 2276]}, {"key": "recourse-provision", "type": "clause", "offset": [2281, 2299]}], "size": 4, "hash": "fa89c63b1f73023cd87e551ec0d27eb3", "id": 3}, {"snippet": "The Lender shall have the option to obtain any refinance facility or loan from any Person, against the security of this Loan.", "samples": [{"hash": "jOpdLZhDX1L", "uri": "/contracts/jOpdLZhDX1L#refinance", "label": "Loan Agreement", "score": 26.57289505, "published": true}, {"hash": "dHb3QfMaKuE", "uri": "/contracts/dHb3QfMaKuE#refinance", "label": "Loan Agreement", "score": 26.38945961, "published": true}, {"hash": "hfl3TKkNUqH", "uri": "/contracts/hfl3TKkNUqH#refinance", "label": "Loan Agreement", "score": 26.3702945709, "published": true}], "snippet_links": [{"key": "the-lender", "type": "clause", "offset": [0, 10]}, {"key": "option-to", "type": "clause", "offset": [26, 35]}, {"key": "any-person", "type": "clause", "offset": [79, 89]}, {"key": "security-of", "type": "clause", "offset": [103, 114]}], "size": 10, "hash": "6e09360837189a723e9190062a6d5812", "id": 1}, {"snippet": "\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 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.", "samples": [{"hash": "iscXbSFbUGf", "uri": "/contracts/iscXbSFbUGf#refinance", "label": "Mortgage Agreement", "score": 23.4325809479, "published": true}, {"hash": "bb25r9LkABV", "uri": "/contracts/bb25r9LkABV#refinance", "label": "Mortgage Agreement", "score": 23.42710495, "published": true}, {"hash": "lGa1SMtzesb", "uri": "/contracts/lGa1SMtzesb#refinance", "label": "Mortgage Agreement", "score": 23.4175224304, "published": true}], "snippet_links": [{"key": "amount-of-the-loan", "type": "definition", "offset": [44, 62]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [78, 105]}, {"key": "due-and-payable", "type": "definition", "offset": [123, 138]}, {"key": "if-borrower", "type": "clause", "offset": [139, 150]}, {"key": "the-borrower", "type": "clause", "offset": [175, 187]}, {"key": "other-mortgage-loan", "type": "definition", "offset": [203, 222]}, {"key": "equity-line-of-credit", "type": "definition", "offset": [237, 258]}, {"key": "the-property", "type": "clause", "offset": [270, 282]}, {"key": "the-lender", "type": "clause", "offset": [288, 298]}, {"key": "the-mortgage", "type": "clause", "offset": [320, 332]}, {"key": "lender-may", "type": "definition", "offset": [389, 399]}], "size": 4, "hash": "2bbe99883327045cbfcf6f67fdf5d811", "id": 4}, {"snippet": "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.", "samples": [{"hash": "iQXNQTgGSEA", "uri": "/contracts/iQXNQTgGSEA#refinance", "label": "Revolving Credit Agreement (SeaCube Container Leasing Ltd.)", "score": 23.4887065887, "published": true}, {"hash": "ikB9bmkzWpq", "uri": "/contracts/ikB9bmkzWpq#refinance", "label": "Revolving Credit Agreement (SeaCube Container Leasing Ltd.)", "score": 21.8542098999, "published": true}, {"hash": "7Cstf7esJXb", "uri": "/contracts/7Cstf7esJXb#refinance", "label": "Revolving Credit Agreement (SeaCube Container Leasing Ltd.)", "score": 21.238193512, "published": true}], "snippet_links": [{"key": "in-respect-of", "type": "clause", "offset": [0, 13]}, {"key": "to-issue", "type": "clause", "offset": [93, 101]}, {"key": "in-exchange", "type": "clause", "offset": [129, 140]}, {"key": "such-security", "type": "definition", "offset": [161, 174]}], "size": 6, "hash": "e1a7dae3bf90cd685f7fe5d958358716", "id": 2}, {"snippet": "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:", "samples": [{"hash": "inlGgZVWxIj", "uri": "/contracts/inlGgZVWxIj#refinance", "label": "Lease Agreement", "score": 31.3126792908, "published": true}, {"hash": "9UwDIV21ypB", "uri": "/contracts/9UwDIV21ypB#refinance", "label": "State Term Contract", "score": 19.0, "published": true}], "snippet_links": [{"key": "amount-financed", "type": "definition", "offset": [43, 58]}, {"key": "an-agreement", "type": "clause", "offset": [115, 127]}, {"key": "a-third-party", "type": "clause", "offset": [133, 146]}, {"key": "you-acknowledge", "type": "clause", "offset": [148, 163]}, {"key": "right-to-terminate-the-agreement", "type": "clause", "offset": [177, 209]}, {"key": "will-provide", "type": "clause", "offset": [218, 230]}, {"key": "the-third-party", "type": "definition", "offset": [259, 274]}, {"key": "the-equipment", "type": "definition", "offset": [287, 300]}, {"key": "amount-to-be-paid", "type": "clause", "offset": [315, 332]}, {"key": "mailing-address", "type": "clause", "offset": [362, 377]}, {"key": "the-refinancing", "type": "clause", "offset": [438, 453]}, {"key": "agreement-null-and-void", "type": "clause", "offset": [477, 500]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [528, 560]}, {"key": "due-and-payable", "type": "definition", "offset": [609, 624]}, {"key": "general-terms-conditions", "type": "definition", "offset": [626, 652]}], "size": 2, "hash": "33f8a1a40a6b9712e5379bc427075f39", "id": 8}, {"snippet": "In the event that Sav Max obtains replacement refinancing --------- with which it: (i) repays or refinances the entire amount owed under the \u2587\u2587\u2587\u2587\u2587 Fargo Credit Agreement on terms which release Certified from all obligations under its Loan Purchase Agreement, (ii) repays all amounts owing to Certified under the Certified Inventory Note and all amounts owing to GCC on the October 2, 1995 Notes, and (iii) causes the obligations under the Preferred B Shares to legally be brought current with respect to dividends and mandatory redemption obligations, then Certified shall:\n(a) release Certified's security interest in the collateral described in the Security Agreement and cancel the Security Agreement;\n(b) release the pledge of stock in Sav Max owned by \u2587\u2587\u2587\u2587 pursuant to the Stock Pledge Agreement and cancel the Stock Pledge Agreement; and\n(c) Terminate the obligations of Sav Max and \u2587\u2587\u2587\u2587 pursuant to Section 5.1, 5.2, 5.3, 6 and the inclusion of any breach of such provisions as an Event of Default under Section 11. No other refinancing or sale of the Sav Max indebtedness owing to \u2587\u2587\u2587\u2587\u2587 Fargo Bank or Certified shall be made nor shall any commitment be made with respect thereto without the prior written consent of Certified.", "samples": [{"hash": "aRkPNe0j59k", "uri": "/contracts/aRkPNe0j59k#refinance", "label": "Forbearance and Debt Restructure Agreement (Certified Grocers of California LTD)", "score": 16.0, "published": true}], "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "amount-owed", "type": "definition", "offset": [119, 130]}, {"key": "the-\u2587", "type": "clause", "offset": [137, 142]}, {"key": "agreement-on-terms", "type": "clause", "offset": [160, 178]}, {"key": "all-obligations", "type": "clause", "offset": [208, 223]}, {"key": "loan-purchase-agreement", "type": "definition", "offset": [234, 257]}, {"key": "amounts-owing", "type": "clause", "offset": [275, 288]}, {"key": "inventory-note", "type": "definition", "offset": [322, 336]}, {"key": "preferred-b-shares", "type": "definition", "offset": [439, 457]}, {"key": "with-respect-to", "type": "clause", "offset": [488, 503]}, {"key": "redemption-obligations", "type": "definition", "offset": [528, 550]}, {"key": "security-interest-in-the-collateral", "type": "clause", "offset": [598, 633]}, {"key": "the-security-agreement", "type": "clause", "offset": [647, 669]}, {"key": "pledge-of-stock", "type": "clause", "offset": [721, 736]}, {"key": "owned-by", "type": "definition", "offset": [748, 756]}, {"key": "stock-pledge-agreement", "type": "clause", "offset": [778, 800]}, {"key": "obligations-of", "type": "clause", "offset": [862, 876]}, {"key": "section-51", "type": "clause", "offset": [906, 917]}, {"key": "inclusion-of", "type": "clause", "offset": [939, 951]}, {"key": "breach-of", "type": "definition", "offset": [956, 965]}, {"key": "event-of-default-under", "type": "definition", "offset": [988, 1010]}, {"key": "section-11", "type": "clause", "offset": [1011, 1021]}, {"key": "sale-of-the", "type": "clause", "offset": [1047, 1058]}, {"key": "consent-of", "type": "clause", "offset": [1213, 1223]}], "size": 1, "hash": "1ec2172086586761f02789a50689f52e", "id": 9}, {"snippet": "If Redeveloper refinances its senior private financing on either the Parking Structure or Building, it shall maximize the dollars available at time of refinance and shall obtain Agency\u2019s prior written approval, which First Amended and Restated DDA \u2013 One Waterfront Place v8 January 4, 2008 approval shall not be unreasonably withheld so long as the refinance meets the requirements of this Section 4. All funds received in refinance in excess of the cost of refinance shall be used first to pay down the PDC Loan.", "samples": [{"hash": "9BJCiwberQf", "uri": "/contracts/9BJCiwberQf#refinance", "label": "Disposition and Development Agreement", "score": 26.5961666107, "published": true}], "snippet_links": [{"key": "private-financing", "type": "definition", "offset": [37, 54]}, {"key": "parking-structure", "type": "definition", "offset": [69, 86]}, {"key": "available-at", "type": "definition", "offset": [130, 142]}, {"key": "prior-written-approval", "type": "definition", "offset": [187, 209]}, {"key": "amended-and-restated", "type": "definition", "offset": [223, 243]}, {"key": "meets-the-requirements", "type": "definition", "offset": [359, 381]}, {"key": "section-4", "type": "clause", "offset": [390, 399]}, {"key": "funds-received", "type": "definition", "offset": [405, 419]}, {"key": "cost-of", "type": "definition", "offset": [450, 457]}, {"key": "to-pay", "type": "clause", "offset": [488, 494]}], "size": 1, "hash": "3a68e8aeab5a210c386215039746b67f", "id": 10}, {"snippet": "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:\n(1) following such refinance, the principal amount of all debt secured by the Property does not exceed the Permitted Encumbrance Amount;\n(2) the refinanced First Lender Loan is a fully amortized fixed rate loan, is fully documented, and requires no balloon payments;\n(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\n(4) the total new housing cost to the Owner after the refinance does not exceed the Owner's ability to pay.", "samples": [{"hash": "4Z9HqvWsnGv", "uri": "/contracts/4Z9HqvWsnGv#refinance", "label": "Occupancy, Resale, and Refinancing Restriction Agreement", "score": 26.3990421295, "published": true}, {"hash": "jdA3ZJ4baKX", "uri": "/contracts/jdA3ZJ4baKX#refinance", "label": "Occupancy, Resale, and Refinancing Restriction Agreement", "score": 25.5311431885, "published": true}], "snippet_links": [{"key": "the-city-shall", "type": "clause", "offset": [0, 14]}, {"key": "first-lender-loan", "type": "clause", "offset": [56, 73]}, {"key": "agree-to", "type": "clause", "offset": [84, 92]}, {"key": "this-agreement", "type": "clause", "offset": [105, 119]}, {"key": "city-deed-of-trust", "type": "definition", "offset": [128, 146]}, {"key": "provided-that", "type": "definition", "offset": [183, 196]}, {"key": "the-principal-amount", "type": "definition", "offset": [228, 248]}, {"key": "debt-secured", "type": "clause", "offset": [256, 268]}, {"key": "the-property", "type": "clause", "offset": [272, 284]}, {"key": "permitted-encumbrance-amount", "type": "clause", "offset": [305, 333]}, {"key": "fixed-rate-loan", "type": "clause", "offset": [393, 408]}, {"key": "fully-documented", "type": "definition", "offset": [413, 429]}, {"key": "balloon-payments", "type": "definition", "offset": [447, 463]}, {"key": "the-original", "type": "definition", "offset": [497, 509]}, {"key": "resale-price", "type": "definition", "offset": [583, 595]}, {"key": "the-owner", "type": "definition", "offset": [643, 652]}, {"key": "principal-and-interest-payments", "type": "definition", "offset": [655, 686]}, {"key": "the-total", "type": "clause", "offset": [696, 705]}, {"key": "housing-cost", "type": "definition", "offset": [710, 722]}, {"key": "ability-to-pay", "type": "definition", "offset": [784, 798]}], "size": 3, "hash": "70faec1b85307d26d7bf7a45454595fa", "id": 6}, {"snippet": "For purposes of this Agreement, \u201cRefinance\u201d 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.", "samples": [{"hash": "16YBW2ff2eS", "uri": "/contracts/16YBW2ff2eS#refinance", "label": "Resale Restriction Agreement and Option to Purchase", "score": 34.7087364197, "published": true}, {"hash": "drfhGTzSH9W", "uri": "/contracts/drfhGTzSH9W#refinance", "label": "Resale Restriction Agreement", "score": 34.6567268372, "published": true}, {"hash": "apK8ryexK50", "uri": "/contracts/apK8ryexK50#refinance", "label": "Property Restriction Agreement and Option to Purchase", "score": 24.0704994202, "published": true}], "snippet_links": [{"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [0, 30]}, {"key": "voluntary-or-involuntary", "type": "clause", "offset": [54, 78]}, {"key": "the-property", "type": "clause", "offset": [131, 143]}, {"key": "without-limitation", "type": "clause", "offset": [156, 174]}, {"key": "mortgage-or-deed-of-trust", "type": "definition", "offset": [213, 238]}, {"key": "the-conditions", "type": "clause", "offset": [327, 341]}, {"key": "in-this-agreement", "type": "definition", "offset": [352, 369]}], "size": 3, "hash": "63caa5efc625aafc3a8714d9a9097398", "id": 5}, {"snippet": "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.\n1. C8130H2 - Refinance of Xerox Agreement $565.00 9.75% $119.48", "samples": [{"hash": "csin6wWFPeZ", "uri": "/contracts/csin6wWFPeZ#refinance", "label": "State or Local Government Negotiated Contract", "score": 31.1675987244, "published": true}], "snippet_links": [{"key": "amount-financed", "type": "definition", "offset": [43, 58]}, {"key": "a-third-party", "type": "clause", "offset": [132, 145]}, {"key": "you-acknowledge", "type": "clause", "offset": [147, 162]}, {"key": "right-to-terminate-the-agreement", "type": "clause", "offset": [176, 208]}, {"key": "will-provide", "type": "clause", "offset": [217, 229]}, {"key": "the-third-party", "type": "definition", "offset": [256, 271]}, {"key": "the-equipment", "type": "definition", "offset": [284, 297]}, {"key": "amount-to-be-paid", "type": "clause", "offset": [312, 329]}, {"key": "mailing-address", "type": "clause", "offset": [359, 374]}, {"key": "an-agreement", "type": "clause", "offset": [410, 422]}, {"key": "the-refinancing", "type": "clause", "offset": [435, 450]}, {"key": "agreement-null-and-void", "type": "clause", "offset": [473, 496]}, {"key": "obligations-under-this-agreement", "type": "clause", "offset": [524, 556]}, {"key": "due-and-payable", "type": "definition", "offset": [605, 620]}], "size": 3, "hash": "8446ca1c74cda0c52bd69ef716b429ac", "id": 7}], "next_curs": "ClISTGoVc35sYXdpbnNpZGVyY29udHJhY3Rzci4LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhJyZWZpbmFuY2UjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["miscellaneous", "MISCELLANEOUS"], ["refinance-of-first-lender-loan", "Refinance of First Lender Loan"], ["restrictive-covenants", "Restrictive Covenants"], ["loan-requirements", "Loan Requirements"], ["place-garage-spaces-project-financing", "Place Garage Spaces Project Financing"]], "title": "Refinance", "size": 59, "children": [["citys-rights", "City\u2019s Rights"], ["request-to-refinance", "Request to Refinance"], ["service-of-notice", "Service of Notice"], ["data-security", "DATA SECURITY"], ["late-charge", "LATE CHARGE"]], "id": "refinance", "related": [["refinancing", "Refinancing", "Refinancing"], ["refinancing-facilities", "Refinancing Facilities", "Refinancing Facilities"], ["refinancing-term-loans", "Refinancing Term Loans", "Refinancing Term Loans"], ["refinancing-preparation-advance", "Refinancing Preparation Advance", "Refinancing Preparation Advance"], ["refinancing-of-swingline-loans", "Refinancing of Swingline Loans", "Refinancing of Swingline Loans"]], "related_snippets": [], "updated": "2025-07-26T06:10:53+00:00", "also_ask": ["What key protections should be included to prevent adverse refinancing terms?", "How can the clause be structured to maximize borrower flexibility while protecting lender interests?", "What are the most common negotiation points and leverage tactics for each party?", "How do courts typically interpret ambiguous refinance provisions in disputes?", "How does this clause compare to standard market practice in similar transactions?"], "drafting_tip": "Specify permitted refinancing terms to prevent disputes, define eligible lenders to maintain creditworthiness, and require notice to ensure transparency.", "explanation": "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\u2019s interests by setting clear parameters for when and how refinancing can occur."}, "json": true, "cursor": ""}}