Terms of Loans Sample Clauses

Terms of Loans. Any Participant or Beneficiary who is a "party in --------------- interest" as to the Plan, as defined in Section 3(14) of ERISA, may borrow from the Plan as provided in this Section 6. (References to Participants in this Section shall include Beneficiaries). Loans shall not be made available to highly compensated employees (as defined in section 414(q) of the Code) in an amount greater than the amount made available to other employees. The minimum amount that may be borrowed is $1,000, and higher amounts may be borrowed in multiples of $500. The maximum amount that may be borrowed is the lesser of (i) $50,000 (reduced by the highest outstanding loan balance of that Participant for the prior 12 months) and (ii) 50 per cent of the Participant's vested Plan Benefit. The period of repayment for any loan shall be five (5) years. A Participant may prepay a loan in a lump sum on any date more than three (3) months after the loan is made. Each loan shall be secured by the Participant's Plan Benefit. For the purposes of determining the portion of a Participant's Plan Benefit that is distributable by withdrawal or otherwise, and the portion of a Participant's Accounts that are subject to the allocation of earnings, appreciation, or depreciation, the amount of a loan will be deducted from the Participant's accounts in the following order: (i) the Special Employee Contributions Account (if any), (ii) the Employee-Elected Company Contributions Account, (iii) the vested portion of the Company Contributions Account when the loan is made. A partial deduction to an account will be allocated according to the Participant's then current investment election. Each loan shall bear interest at the Fixed Income Fund rate at the time the loan is made or other reasonable rate of interest determined by UDLP at the time the loan is made. SECTION 6(b)
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Terms of Loans. (a) HWWS loans under this part—
Terms of Loans. (a) * * *
Terms of Loans. Each Lender has made a Loan in the principal amount set forth in Schedule 2.1 under the Existing Credit Agreement. Such Loans shall continue to remain outstanding under the terms and conditions of this Agreement. Any amount of such Loans repaid may not be reborrowed.
Terms of Loans. 5 2.1 Loans. .........................................................................5 2.2
Terms of Loans. 8 5. Interests................................................................9
Terms of Loans. All borrowings shall be made for an Interest Period in Euros. The terms applicable to each Drawing are as follows:
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Terms of Loans. Section 2.1 Loans 27 Section 2.2 Borrowings of Loans 28 Section 2.3 Repayment of Loans; Evidence of Indebtedness 28 Section 2.4 Optional Prepayment 29 Section 2.5 Mandatory Prepayment 30 Section 2.6 Interest Rate 31 Section 2.7 Maximum Interest Rate 32 Section 2.8 Inability to Determine Interest Rate 32 Section 2.9 Fees 34 Section 2.10 Payments 34 Section 2.11 Illegality 35 Section 2.12 Break Funding Payments 35 Section 2.13 Increased Costs 35 Section 2.14 Taxes 37 Section 2.15 Scheduled Availability Period; Reduction of Committed Loan Limit 41 Section 2.16 Agent’s Clawback 42 ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE BORROWER Section 3.1 Financial Condition 42 Section 3.2 No Material Adverse Effect 43 Section 3.3 Existence and Power; Investment Company 43 Section 3.4 Organizational Power; Authorization; Enforceable Obligations 44 Section 3.5 No Legal Bar 44 Section 3.6 No Material Litigation 44 Section 3.7 Compliance 45 Restricted - External
Terms of Loans. The specific provisions of the Revolving Line of ---------------- Credit, including, but not limited to, the rate of interest, term, late charge, prepayment rights, borrowing base limitations and default rate of interest, are contained in that certain "Revolving Line of Credit Promissory Note" of even date herewith from Borrower to Fifth Third (the "Line of Credit Note"), in the form attached hereto as Exhibit A, as the same may be amended, restated, ---------- modified, extended and/or replaced from time to time. The specific provisions of the Draw Loan, including, but not limited to, the rate of interest, term, late charge, prepayment rights, conditions for draws and default rate of interest, are contained in that certain "Draw Note" of even date herewith from Borrower to Fifth Third (the "Draw Note"), in the form attached hereto as Exhibit B, as the same may be amended, restated, modified, extended and/or ---- replaced from time to time. The Line of Credit Note and the Draw Note are sometimes collectively referred to herein as the "Notes".
Terms of Loans. 2 6. Guarantees. . . . . . . . . . . . . . . . . . . . . . . . . . . .3 7.
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