THE TERMS OF THE LOAN Sample Clauses

THE TERMS OF THE LOAN. In consideration of the loan of up to five hundred thousand and no/100 dollars ($500,000) (the "Payment Obligation"), and subject to the terms and conditions hereinafter set forth, the Borrower promises to pay to the order of the Lender, or her assigns, on demand anytime after ___________, 2022, at the principal office of the Borrower, the amount of Payment Obligation loaned, as evidenced by the promissory notes in substantially the form attached hereto, from the Borrower, together with interest thereon payable at the rate of twelve percent (12%) per annum from the date the Payment Obligation is loaned to the Borrower, to the date of repayment of such Payment Obligation by the Borrower to the Lender. The Borrower may immediately record this loan agreement as an account receivable and anticipate the loan of the Payment Obligation to the Borrower from the Lender but the Lender is not obligated to contribute any more than the maximum amount of the Payment Obligation expressed above in the form of either a loan or equity contribution to the Borrower. During the first three (3) years of this Agreement, the Borrower shall have the right, but not the obligation, to deliver a promissory note, or notes, in the form attached to this agreement and to otherwise provide notice to the Lender of the amount of money to be advanced and the name of the bank where the deposit is to be made for the account of the Borrower. Within ten days after receipt of such notice, Lender shall deposit the amount evidenced by the note, up to the maximum provided above, to the designated bank. The cash proceeds to be paid by Lender to Borrower pursuant to the terms of this Agreement shall be used and dealt with by the Borrower as a contribution to equity capital and shall be subject to the risks of the business of the Borrower which includes, but is not limited to, serving as the General Partner (sic commodity pool operator) of limited partnerships (sic pools) whose interests are sold to the public to raise equity to engage in the business of commodity trading. The Borrower shall have the right to deposit any cash proceeds of this Subordinated Loan Agreement in any account or accounts in its own name in any bank or trust company free from any security interest of the Lender. The Lender irrevocably agrees that the obligations of the Borrower under this Agreement with respect to the payment of principal and interest shall be and are subordinate in right of payment and subject to the prior pay...
Sample 1
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THE TERMS OF THE LOAN. The aforesaid Loan shall be for a term of one month commencing from the date of the Note. The principal balance of the Loan, together with all interest accrued thereon, shall be payable monthly by Borrower as required by the terms of this Loan Agreement and the Note.
Sample 1

Related to THE TERMS OF THE LOAN

  • Terms of the Loan 2.1 The Lender will lend to the Company, and the Company will borrow from the Lender by way of one advance to be evidenced by a promissory note in the form attached hereto as Schedule “A”, the Principal sum of fifty thousand dollars (USD) subject to the terms and conditions of this Agreement and the Securities.

  • Amount and Terms of the Loans 2.1 Commitments 25 2.2 Borrowings 26 2.3 Disbursements; Funding Reliance; Domicile of Loans 29 2.4 Evidence of Debt; Notes 30

  • Amounts and Terms of the Loans 34 2.1. The Revolving Credit Loans................................................... 34 2.2. Making the Loans............................................................. 35 2.3. Fees......................................................................... 36 2.4. Reduction and Termination of the Commitments................................. 37 2.5. Repayment.................................................................... 37 2.6. Prepayments.................................................................. 38 2.7. Conversion/Continuation Option............................................... 39 2.8. Interest..................................................................... 40 2.9. Interest Rate Determination and Protection................................... 41 2.10.

  • SPECIAL TERMS AND CONDITIONS OF TRUST The following special terms and conditions are hereby agreed to:

  • OTHER TERMS OF THE AGREEMENT Except as specifically amended hereby, all of the terms and conditions of the Agreement shall continue to be in full force and effect and shall be binding upon the parties in accordance with their respective terms.

  • Terms of the Agreement Each Party shall treat the terms of this Agreement as the Confidential Information of other Party, subject to the exceptions set forth in Section 7.2. Notwithstanding the foregoing, each Party acknowledges that the other Party may be obligated to file a copy of this Agreement with the SEC, either as of the Effective Date or at some point during the Term. Each Party shall be entitled to make such a required filing, provided that it requests confidential treatment of certain commercial terms and sensitive technical terms hereof to the extent such confidential treatment is reasonably available to it. In the event of any such filing, the filing Party shall provide the other Party with a copy of the Agreement marked to show provisions for which the filing Party intends to seek confidential treatment and shall reasonably consider and incorporate the other Party’s comments thereon to the extent consistent with the legal requirements governing redaction of information from material agreements that must be publicly filed. The other Party shall promptly provide any such comments.

  • Terms of Loan (a) The General Partner may, but need not, advance monies from time to time to the Partnership to meet any necessary cash requirements of the Partnership including, but not limited to, operating expenses of the Partnership or the payment of principal and interest required under any note. The aggregate amount of such advances to the Partnership shall become an obligation of the Partnership to the General Partner and shall be payable out of the gross income of the Partnership together with simple interest on a monthly basis at a rate equal to the Xxxxxx Bank and Trust Company of Chicago’s prime rate in effect from time-to-time plus one percent (1%) per annum (the “Loan Rate”). All such loans from the General Partner, and all repayments of such loans to the General Partner, shall be in cash and not in promissory notes, other property or services. The repayment of such loan shall be at a time, in the discretion of the General Partner, that there is sufficient cash flow from the operation of the Partnership to permit such repayment without impairing the solvency of the Partnership, provided that any such unpaid advances shall become immediately due and payable upon termination and dissolution of the Partnership. Notwithstanding the foregoing, no payment of interest on any such loan from the General Partner shall be paid by the Partnership if and while payments of First Tier Distributions as defined and provided for in Section 15.2 below are not current, and no repayment of principal shall be made to the General Partner for any such loan if and while payments of First Tier Distributions or Second Tier Distributions as defined and provided for in Section 15.2 below are not current. If and to the extent that there is sufficient cash flow as required above to repay such advances, such repayment to the General Partner shall be made on or before the fifteenth day after the end of each quarter.

  • Miscellaneous Terms and Conditions The following terms and conditions also apply.

  • STANDARD TERMS AND CONDITIONS OF TRUST Subject to the provisions of Part II hereof, all the provisions contained in the Standard Terms and Conditions of Trust are herein incorporated by reference in their entirety and shall be deemed to be a part of this instrument as fully and to the same extent as though said provisions had been set forth in full in this instrument.

  • Amounts and Terms of the Advances and Letters of Credit SECTION 2.01. The Advances and Letters of Credit. (a)

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