Security for Loan Repayment Sample Clauses

Security for Loan Repayment. The repayment of the loan shall be secured by a bank letter of credit in the amount of the original principal balance of the loan issued in a form acceptable to the City. The letter of credit will be issued before the loan proceeds will be distributed.
Security for Loan Repayment. At the election of the Landowners, the repayment of the loan shall be secured by either:
Security for Loan Repayment. The repayment of the Loan shall be secured by pledge agreements which are payable to the Borrower by donors on a periodic basis. Copies of Donor Agreements memorializing such pledges held by Borrower shall be provided to City and shall be incorporated by reference as if fully set forth in this document.