-Year Loan definition
Examples of -Year Loan in a sentence
The Mortgage Loans will be conventional fixed rate one- to four-family residential mortgage loans with original terms to maturity of not more than 15 years from the date of origination, in the case of the Mortgage Loans identified on the 15 Year Loan Schedule (the "15 Year Loans"), and 30 years from the date of origination, in the case of the Mortgage Loans identified on the 30 Year Loan Schedule (the "30 Year Loans").
Upon such subscription, the Company will, at the request and option of each subscribing offeree, loan (the "Four Year Loan") such subscribing offeree sufficient funds, on a full recourse and secured basis, to purchase two additional Shares (all such Shares hereinafter the "Loan Shares") for each Share subscribed for hereunder for cash (the "Cash Shares").
The Seller agrees to sell, and the Depositor agrees to purchase, the mortgage loans (the "Mortgage Loans"), identified on the schedules annexed hereto as Exhibit 1 (the "15 Year Loan Schedule") and Exhibit 2 (the "30 Year Loan Schedule," and together with the 15 Year Loan Schedule, the "Mortgage Loan Schedule").
The Parties agree to use good faith to (A) discuss the causes of such Tier 1 Concentration Event, and (B) work together to modify this Agreement in a commercially reasonable manner to enable Bank to continue to retain loans under Section 2.5(a)(i) hereof, including, following the occurrence of a Tier 1 Concentration Event, to increase the Required Retained Loans Battery Only Limit, the Maximum 20 Year Loan Product Retention Percentage and/or the Maximum 25 Year Loan Product Retention Percentage.
Upon oral confirmation of the number and type of Shares subscribed for by a subscribing offeree, the Company will prepare and distribute for execution to such subscribing offeree (i) one execution copy of each of the Loan Agreement and Four Year Note, if applicable, (ii) two copies of the Pledge Agreement, if applicable, (iii) two copies of the Employee Option Agreement, (iv) an assignment separate from certificate, if the subscribing offeree has requested a Four Year Loan and (v) an IRS Form W-9.
So long as there are no Credit Extensions outstanding hereunder at any time during any Fiscal Year, Loan Parties shall not be obligated to pay the fees and expenses of the Administrative Agent and such professionals with respect to such examinations and evaluations during such Fiscal Year.
So long as there are no Credit Extensions outstanding hereunder at any time during any Fiscal Year, Loan Parties shall not be obligated to pay the fees and expenses of the Administrative Agent and such professionals with respect to such appraisals during such Fiscal Year.
Each such notice will specify the date and amount of such prepayment, whether the Loan to be prepaid is a Three Year Loan or a Five Year Loan, and the Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans.
At the Closing, upon the terms and subject to the conditions of this Agreement, the Company shall deliver to Purchaser a certificate or certificates representing the Shares duly executed and authenticated by the Company; provided, however, that if any portion of the Shares are being purchased with the proceeds of a Four Year Loan, the Company shall retain possession of all of the Shares in accordance with the terms of the Pledge Agreement.
Outstanding balances of principal under the 7 Year Revolving Loan (and not previously converted) will be automatically converted into a Converted 7 Year Loan as of the last day of the Availability Period, and outstanding balances of principal under the 10 Year Revolving Loan (and not previously converted) will be automatically converted into a Converted 10 Year Loan as of the last day of the Availability Period.