Advance Loan Maturity Date definition
Examples of Advance Loan Maturity Date in a sentence
On the Advance Loan Maturity Date, the entire unpaid principal balance of this note and all accrued and unpaid interest on the unpaid principal balance of this note shall be finally due and payable.
The Commitment Fee shall be payable in arrears on the first Business Day of each calendar quarter beginning July 1, 1996 (with the payment due on July 1, 1996 to cover the period from the Effective Date until July 1, 1996), with the final fee payment due on the Advance Loan Maturity Date for any period then ending for which the Commitment Fee shall not have been theretofore paid.
On the terms and conditions hereinafter set forth, the Bank agrees to make Advances to Borrower from time to time during the period beginning on the Effective Date and ending on the Advance Loan Maturity Date in such amounts as Borrower may request up to the aggregate amount of $2,000,000.00 (the "Advance Line of Credit").
Each Term Loan shall be a fully amortizing loan in approximately equal installments of principal and interest and shall mature on the Term Loan Maturity Date specified in the Conversion Notice, which date shall be either the 3rd anniversary of the Advance Loan Maturity Date or the 8th anniversary of the Advance Loan Maturity Date.
Additionally, if the amount of the Advance Loans (plus all accrued but unpaid interest) is not paid in full on the Advance Loan Maturity Date, Borrower will be charged (subject to Section 9.11) a delinquency charge of (a) 5% of the sum of the outstanding principal balance (plus all accrued but unpaid interest), or (b) $250.00, whichever is less.
The Interest Rate on a Term Loan shall be a fixed rate determined on the date an Advance converts to a Term Loan and shall equal the Cost of Funds plus 1.65% for a Term Loan which matures on the 3rd anniversary of the Advance Loan Maturity Date or the Cost of Funds plus 1.85% for a Term Loan which matures on the 8th anniversary of the Advance Loan Maturity Date.
The principal of the Advance Loans shall be due and payable on the Advance Loan Maturity Date.
Such interest shall be payable on the earlier of demand and the Advance Loan Maturity Date, and shall accrue until the earlier of (a) waiver or cure (to the satisfaction of Lender) of the applicable Event of Default, (b) agreement by Lender to rescind the charging of interest at the Default Rate, or (c) payment in full of the Obligations.
The unpaid principal and interest due on the Advance Note shall be due and payable on the Advance Loan Maturity Date unless earlier due in whole or in part pursuant to the mandatory prepayment provisions of Section 9(c) hereof.
Subject to the terms and conditions set forth herein, Lender agrees to make a single advance or multiple advances, on a non-revolving basis (each such advance, an “Advance Loan”), to Borrower from time to time on any Business Day during the period from the Agreement Date to the first to occur of the (a) Advance Availability Termination Date, and (b) the Advance Loan Maturity Date, in an aggregate amount not to exceed the lesser of (y) the Advance Commitment, and (z) the Advance Availability.