COMMITMENT LETTER COMPLIANCE definition
COMMITMENT LETTER COMPLIANCE. This Note is contingent upon BORROWER'S compliance with all of the terms and conditions contained in the commitment letter issued by THE BANK to BORROWER on June 23, 1998. Upon breach of any term or condition contained therein THE BANK shall have the right to declare this loan in default and demand payment in full of the principal balance remaining unpaid, together with all interest which shall have accrued thereon. PAYMENT AT MATURITY: THIS LOAN IS PAYABLE IN FULL AT MATURITY OR UPON DEMAND IN THE EVENT OF A DEFAULT HEREUNDER OR DEFAULT UNDER THE FINANCING AGREEMENT SECURING THIS NOTE OR DEFAULT UNDER THE TERMS OF ANY OTHER LOAN INSTRUMENT. YOU MUST REPAY THE ENTIRE PRINCIPAL BALANCE OF THE LOAN AND UNPAID INTEREST THEN DUE. THE BANK IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TIME. YOU WILL THEREFORE BE REQUIRED TO MAKE PAYMENT OUT OF OTHER ASSETS YOU MAY OWN OR YOU WILL HAVE TO FIND A LENDER WILLING TO LEND YOU THE MONEY. IF YOU REFINANCE THIS LOAN AT MATURITY, YOU MAY HAVE TO PAY SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW LOAN EVEN IF YOU OBTAIN REFINANCING FROM THE BANK.
COMMITMENT LETTER COMPLIANCE. This Note is contingent upon BORROWERS' compliance with all of the terms and conditions contained in the commitment letter issued by THE BANK to BORROWERS on or about June 5, 1996. Upon breach of any term or condition contained therein THE BANK shall have the right to declare this loan in default and demand payment in full of the principal balance remaining unpaid, together with all interest which shall have accrued thereon. Further, providing the said commitment letter so provides, THE BANK reserves the right to increase the interest rate in accordance with the provisions of the loan commitment for failure of the BORROWER or any guarantor to submit required financial information within thirty days of the date of request by THE BANK. PAYMENT AT MATURITY: THIS LOAN IS PAYABLE IN FULL:
COMMITMENT LETTER COMPLIANCE. Funding under this Note is contingent only upon Borrower's compliance with all of the terms and conditions contained in the commitment letter issued by THE BANK to Borrower on January 21, 2000. Also upon breach of any term or condition contained therein THE BANK shall have the right to declare this loan in default and demand payment in full of the principal balance remaining unpaid, together with all interest which shall have accrued thereon. Further, providing the said commitment letter so provides, THE BANK reserves the right to increase the interest rate in accordance with the provisions of the loan commitment for failure of the Borrower or any guarantor to submit required financial information within thirty days of the date of request by THE BANK. WAIVER OF PRESENTMENT: EACH AND ALL PARTIES hereto whether maker, endorsers, sureties, guarantor or otherwise do hereby jointly and severally waive presentment and demand for payment, notice of dishonor, protest and notice of protest.
More Definitions of COMMITMENT LETTER COMPLIANCE
COMMITMENT LETTER COMPLIANCE. This Note is contingent upon Borrower's compliance with all of the terms and conditions contained in the commitment letter issued by THE BANK to Borrower on May 28,