CREM Note definition

CREM Note means, collectively, the Secured Promissory Note in the amount of $2,388,000.00 and any renewal, replacement or substitution therefor and any additional promissory note hereafter entered into by Borrower in favor of Lender.
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Examples of CREM Note in a sentence

  • Borrower's payment of the Loan Fee to Lender is and shall be in addition to all other payments (including without limitation principal and interest) now or hereafter payable to Lender pursuant to the CREM Note and the other Loan Documents.

  • All payments received on the CREM Note shall be applied first to expenses that are neither principal nor interest, then to reasonable costs and expenses required to be paid under the terms of this Agreement, then to interest to the extent then accrued and then to principal.

  • The Loan shall be evidenced by the CREM Note and this Agreement, and principal and interest on the Loan shall be payable as provided in the CREM Note.

  • The payment and performance by Borrower of its obligations under the CREM Note and the Loan Documents shall be secured by (i) the Security Documents; (ii) UCC Financing Statement filed with the Nevada Secretary of State; and (iii) such other collateral and security as may be (A) required under this Agreement or any of the other Loan Documents, or (B) otherwise provided to Lender.

  • Borrower may, at its option, prepay the CREM Note in whole or in part without penalty or premium.

  • Thereupon, Lender may, at its option, declare the CREM Note and/or the Revolving Note and all other amounts of the Indebtedness to be immediately due and payable together with interest accrued thereon, which shall bear interest at the Default Rate (as defined in the CREM Note) and Lender shall have the right to pursue all legal rights and remedies allowed by law.

  • The CREM Note evidences a $2,388,000 term loan entered by and between Borrower and Lender concurrently herewith.

  • The funds borrowed under the CREM Note have been used solely in connection with Borrower’s acquisition of the Real Property and for other valid corporate purposes.

  • Subject to the terms and conditions contained in this Agreement, and in reliance upon the representations and warranties hereinafter set forth, Lender agrees to extend to Borrower the credit evidenced by the CREM Note.

  • Any interest due on the CREM Note or on any other amount constituting Indebtedness hereunder, shall be calculated on the basis of the actual number of days elapsed over a year containing 360 days.

Related to CREM Note

  • RMB Note means a Note denominated in Renminbi.

  • New Note shall have the meaning assigned to such term in Section 38.

  • Term Note means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

  • debit note means a document issued by a registered person under sub-section (3) of section 34;

  • o Note The account name to which EFT payments will be paid is to the name submitted on Part II of this form. • Routing Number: Enter the bank or financial institutional nine-digit routing number, including applicable leading zeros.