Satisfaction of Loan Sample Clauses

Satisfaction of Loan. 81 14.5 Loans to Owner-Employees or Shareholder-Employees. . . . . . . . . . 81
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Satisfaction of Loan. In the event of default, foreclosure on the note and attachment of the security will not occur until a distributable event occurs under the terms of the Plan. If spousal consent (consistent with the requirements for a Qualified Election under Section 9.2) has been obtained, then, notwithstanding any other provision of the Plan, the portion of the Participant's vested interest in the Plan used as security for a loan shall be taken into account for purposes of determining the amount of the benefits payable at the time of death or distribution, but only if the reduction is used as repayment of the loan.
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Satisfaction of Loan. In the event of default, foreclosure on the note and attachment of the security will not occur until a distributable event occurs under the terms of the Plan. If spousal consent (consistent with the requirements for a Qualified Election under Section 8.2) has been obtained, then, notwithstanding any other provision of the Plan, the portion of the Participant's vested account balance used as security for a loan shall be taken into account for purposes of determining the amount of the account balance payable at the time of death or distribution, but only if the reduction is used as repayment of the loan. If less than one hundred percent (100%) of the Participant's vested account balance (determined without regard to the preceding sentence) is payable to the surviving spouse, then the account balance shall be adjusted by first reducing the vested account balance by the amount of the security used as repayment of the loan, and then determining the benefit payable to the surviving spouse.
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Satisfaction of Loan. The Mars Trust shall have paid off in full all amounts owed to the Bank of America by AmerAlia and guaranteed by Mars, individually, Loan Number 51-579258/265/TW, in the principal amount of $9,921,583.00 (plus interest). A copy of a pay off quote or other satisfactory proof of payment shall be delivered to Sentient II LP.
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Satisfaction of Loan. PATY shall use its best efforts to satisfy its obligations under the Loan and repay all amounts owed thereunder by December 31, 2005, in one or more of the following ways:
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Satisfaction of Loan. In full satisfaction of Borrower's obligations under the Loan Agreement and subject to the conditions precedent set forth herein, including the provisions of Section 3 below, Borrower agrees to issue and deliver to Lender, on the date hereof, that number of shares of Borrower's common stock that it believes in good faith equals $1,000,000, or Eight Hundred Thirty Three Thousand, Three Hundred and Thirty Three (833,333) shares of common stock (the "Shares"). In consideration of the Shares and subject to the conditions precedent set forth herein, including the terms and conditions set forth in Section 6(b) of this Agreement, Lender hereby acknowledges that it is entering into this Agreement in full satisfaction of all principal, interest and other monies owed under the Loan Documents and any obligations arising under Loan Documents and any documents and instruments evidencing same. Following its receipt of the legal opinion of Borrower described in Section 6(b) below, Lender shall surrender the Note marked cancelled within three (3) business days after effectiveness of the Registration Statement as set forth in Section 2 of this Agreement. So long as Borrower is not in breach of this Agreement, any and all obligations under the Loan Documents, including the payment of principal on the Maturity Date, shall be stayed until such time as the conditions set forth in Section 6(b) of this Agreement are satisfied. In the event Borrower does not fully satisfy its obligations under Section 6(b), upon written notice from Borrower to Lender which sets forth the breach and, following a thirty (30) day period to cure any such breach capable of being cured by Borrower, the provisions of this Agreement shall be of no further force and effect and the Lender shall be entitled to enforce all of the terms and provisions of the Note, the Loan Agreement and Pledge Agreement.
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Satisfaction of Loan. The Client shall notify NFR promptly in the event any loan for which NFR has provided a determination is paid off by the borrower.
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Related to Satisfaction of Loan

  • Satisfaction of Conditions Precedent Each party will use commercially reasonable efforts to satisfy or cause to be satisfied all the conditions precedent that are applicable to them, and to cause the transactions contemplated by this Agreement to be consummated, and, without limiting the generality of the foregoing, to obtain all material consents and authorizations of third parties and to make filings with, and give all notices to, third parties that may be necessary or reasonably required on its part in order to effect the transactions contemplated hereby.

  • Satisfaction of Conditions The conditions precedent set out in Section 6.1, Section 6.2 and Section 6.3 shall be conclusively deemed to have been satisfied, waived or released at the Effective Time.

  • Satisfaction Requirement If any agreement, certificate or other writing, or any action taken or to be taken, is by the terms of this Agreement required to be satisfactory to any Purchaser, to any holder of Notes or to the Required Holder(s), the determination of such satisfaction shall be made by such Purchaser, such holder or the Required Holder(s), as the case may be, in the sole and exclusive judgment (exercised in good faith) of the Person or Persons making such determination.

  • Satisfaction of Obligations The Borrower shall pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves with respect thereto have been provided on the books of the Borrower.

  • Conditions Precedent to Each Borrowing The obligation of each Lender to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (and each of the giving of the applicable Borrowing Notice and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Borrowing such statements are true):

  • Satisfaction of Liabilities The liquidators shall pay, satisfy or discharge from Company funds all of the debts, liabilities and obligations of the Company (including, without limitation, all expenses incurred in liquidation) or otherwise make adequate provision for payment and discharge thereof;

  • Satisfaction of Claims 31 Acceptance by CONTRACTOR of payments made by Intermediary in accordance with the 32 Agreement shall be deemed satisfaction in full of any COUNTY obligation to CONTRACTOR with 33 respect to those claims for Hospital Services for which payment has been made by COUNTY, 34 notwithstanding CONTRACTOR’s right to appeal any denied claim, as provided for in Paragraph 35 IV. of this Exhibit B to the Agreement and CONTRACTOR’s right to pursue co-payments due from

  • Satisfaction of Closing Conditions The Vendors agree to use their best efforts to ensure that the conditions set forth in Section 5.1, and the Purchaser agrees to use its best efforts to ensure that the conditions set forth in Section 5.3, are fulfilled at or prior to the Closing Time.

  • Conditions Precedent to Borrowing The obligation of the Liquidity Provider to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and, prior to the date of such Borrowing, the Borrower shall have delivered a Notice of Borrowing which conforms to the terms and conditions of this Agreement and has been completed as may be required by the relevant form of the Notice of Borrowing for the type of Advances requested.

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

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