Examples of Borrower Loan in a sentence
As a condition to the making of the Authority Loan, facilitating the Borrower Loan, and taking assignment of the Borrower Note, Senior Lender requires that Junior Lender execute and deliver this Agreement.
To evidence its obligation to repay the Borrower Loan, Borrower shall execute and deliver to the Authority a Promissory Note, in the maximum principal amount of *$11,800,000.00 (the Borrower Note), payable to the order of the Authority; provided, that the Authority shall endorse the Borrower Note to Senior Lender in conjunction with the issuance of the Bond.
The Authority shall, in turn, make a loan to Borrower (the Borrower Loan), in the maximum principal amount of *$11,800,000.00 from the proceeds of the Bond, such Borrower Loan having the same tenor, rate of interest, and terms of repayment as the Authority Loan.
Each Borrower acknowledges and agrees that no Provider has committed to provide any Bank Products or Cash Management Services solely as a result of this Agreement and that any provision of any Bank Products or Cash Management Services by any Provider is in the sole and absolute discretion of such Provider, subject in all respects to any existing or future written agreement between any such Provider and any Borrower, Loan Party or other Subsidiary.