Subject to Lender definition

Subject to Lender s conversion rights as set forth in the Loan Agreement, the Borrower will have the right at any time and from time to time, upon not less than fifteen (15) business days notice to Lender to prepay all or any portion of the unpaid principle balance of this Note without penalty, but with interest accrued to the date of prepayment on the unpaid principal balance of the Note. Notwithstanding the foregoing, Borrower shall not be required to provide Lender with advance notice of any prepayment received by Lender on or prior to January 31, 1996. The Borrower agrees that if, and as often as, this Note is placed in the hands of an attorney for collection or to defend or enforce any of the Lender's rights under this Note, the Loan Documents (as defined in the Loan Agreement) or otherwise relating to the indebtedness hereby evidenced, the Borrower will pay the Lender's reasonable attorneys' fees,, all court costs and all other expenses incurred by the Lender in connection therewith. The Lender may collect a late charge equal to five percent (5%) of each payment which is not received by the Lender within ten (10) days after the due date of such payment. Such late charge represents the estimate of reasonable compensation for the loss which will be sustained by the Lender arising from the Borrower's failure to make timely payments and may be collected without prejudice to the rights of the Lender to collect any other amounts arising from the Borrower's default in payment or to accelerate the maturity of the indebtedness hereby evidenced. In addition to the foregoing late charge, at the option of the Lender, after the occurrence of any Event of Default (as defined in the Loan Agreement), the unpaid balance of this Note will bear interest at a Default Rate which is equal to five percent (5.0%) in excess of the Note Rate (eight percent (8.0%) in excess of the Prime Rate) and such interest which has accrued will be paid at the time of and as a condition precedent to curing any Event of Default (as defined in the Loan Agreement). During the existence of any Event of Default, the Lender may apply payments received on any amount due hereunder or under the terms of any instrument now hereafter evidencing or securing payment of this indebtedness as the Lender determines from time to time. Payment of the indebtedness hereby evidenced is secured by certain security interests described in the Loan Documents (as defined under the Loan Agreement). On the breach by the Borrower of any...
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Subject to Lender s conversion rights set forth below, the Borrower shall p▇▇ ▇▇▇ outstanding principal balance and all accrued and unpaid interest due hereunder on November 26, 2005 (the "Maturity Date"). Notwithstanding anything to the contrary contained herein, if at any time prior to the Conversion Start Date (as hereinafter defined), the Borrower shall fail to make any quarterly payment of interest due hereunder (each, a "Pre-Conversion Unmatured Interest Default"), the Borrower shall forfeit any right to pay the amount of such Pre-Conversion Unmatured Interest Default (or cause any other entity or affiliate of the Borrower, including any guarantor, to pay such amount) and the outstanding principal amount hereof shall bear interest at the Default Rate until such time as this Note is repaid in full or the full amount due under this Note is converted in accordance with the terms herein; provided, further, that, at any time after the Conversion Start Date, the Borrower shall fail to make any quarterly payment of interest due hereunder, such failure shall constitute an Event of Default under Section 8(a) hereof.
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Examples of Subject to Lender in a sentence

  • Subject to Lender right to maintain Reserves hereunder, at the Lender’s sole discretion, all amounts received in the Cash Collateral Account may be applied to reduce the Obligations as set forth in Section 2.1.

  • Seller acknowledges that a Short Sale is Subject to Lender approval.

  • Subject to Lender receiving a confidentiality agreement satisfactory to Lender from such Person interested in purchasing or being assigned any rights of Lender in the Loan Documents, Borrower hereby consents to and agrees that Lender may disclose to any Person any and all information connected with or related to the Revolving Loan or other Loan Documents for the purpose of selling or assigning any rights of Lender in the Loan Documents.

  • K2 HEALTHVENTURES LLC $ 15,000,000.00 $ 10,000,000.00 $ 10,000,000.00 $ 15,000,000.00 $ 50,000,000.00 1 Subject to Lender approval in its sole and absolute discretion.

  • Subject to Lender approval, a portion of the Project Costs may be donated or supplied without cost by third parties as a charitable contribution to Howard or NCMC.

  • Subject to Lender complying with its obligations set forth herein, Borrower agrees that if it or its affiliates consummate the transactions contemplated by (i) the MSH PSA, (ii) the HBLR PSA or (iii) the MSREF PSA, the Borrower shall borrow the necessary funds from Lender on the terms set forth herein.

  • Subject to Lender s approval, Borrower is free to select the insurance agent or insurer through which insurance is obtained.

  • Subject to Lender approval, a portion of the Howard Contribution may be contributed by ▇▇▇▇▇▇’▇ donation of HUH Assets transferred to the NCMC Hospital site.

  • Subject to Lender complying with the corporate formalities required in the jurisdiction of its formation and under the Investment Company Act of 1940 to ensure that the liabilities of each Series are not the liabilities of any other Series, GSAL acknowledges and agrees that the assets and revenues of all the Series will not represent an aggregate pool of assets for the purpose of discharging the payment obligations of the Lender under this Agreement.

  • Subject to Lender approval, Surety shall have the right to engage in one or more Surety Transactions, and to structure and restructure all or any part of the Surety Bond and Backstop Policy in connection therewith, including such amendments to representations and warranties in the Loan Documents as may be appropriate.