Transaction Characterization. A. It is the intent of the parties hereto that this Agreement and the other Loan Documents are a contract to extend a financial accommodation (as such term is used in the Code) for the benefit of Borrower and that the Loan Documents evidence one unitary, unseverable transaction pertaining to the Premises.
Appears in 6 contracts
Samples: Loan Agreement (Summit Hotel OP, LP), Loan Agreement (Summit Hotel OP, LP), Loan Agreement (Summit Hotel Properties LLC)
Transaction Characterization. A. It is the intent of the parties hereto that this Agreement and the other Loan Documents are a contract to extend a financial accommodation (as such term is used in the Code) for the benefit of Borrower and that the Loan Documents evidence one unitary, unseverable transaction pertaining to the PremisesBorrower.
Appears in 3 contracts
Samples: Loan Agreement (Eaco Corp), Loan Agreement (Family Steak Houses of Florida Inc), Loan Agreement (Kona Grill Inc)
Transaction Characterization. A. It is the intent of the parties hereto that this Agreement and the other Loan Documents are a contract to extend a financial accommodation (as such GECC Contract No. 14336001 GECC Property Nx. 00000 Xxx Xxxxxxx, XX term is used in the Code) for the benefit of Borrower and that the Loan Documents evidence one unitary, unseverable transaction pertaining to the Premises.
Appears in 1 contract
Transaction Characterization. A. It is the intent of the parties hereto that this Agreement and the other Loan Documents are a contract to extend a financial accommodation (as such term is used in the Code) for the benefit of Borrower and that the Loan Documents evidence one unitary, unseverable transaction pertaining transaction. Borrower acknowledges that the Loan is cross-defaulted and cross-collateralized with Other Agreements, except as otherwise contemplated by Sections 13.P(4), and that such cross-default and cross-collateralization is a material inducement to Lender making the PremisesLoan.
Appears in 1 contract
Samples: Loan Agreement (Romacorp Inc)
Transaction Characterization. A. It is the intent of the parties hereto that this Agreement and the other Loan Documents are a contract to extend a financial accommodation (as such GECC Contract No. 14336001 GECC Property Xx. 00000 Xxx Xxxxxxx, XX term is used in the Code) for the benefit of Borrower and that the Loan Documents evidence one unitary, unseverable transaction pertaining to the Premises.
Appears in 1 contract
Samples: Loan Agreement (Summit Hotel OP, LP)
