Home Loan. Subject to the provisions of subsection (c) below, simple interest will accrue on the outstanding principal balance of the HOME Loan at a per annum rate of interest equal to three percent (3%), commencing on the date of disbursement.
Home Loan. Commission agrees, subject to the terms and conditions of this Agreement and in consideration of the representations, covenants and obligations of Borrower contained in this Agreement, to make the HOME Loan to Borrower, to be used solely for the purposes described herein.
Home Loan. Borrower shall use the HOME Loan for construction costs, consistent with the Approved Development Budget. Use of the HOME Loan for reimbursement of costs incurred prior to the date of this Agreement is subject to Section 92.206(d)(1) of the HOME Regulations.
Home Loan. Wichita GP irrevocably and unconditionally guarantees and covenants that the Partnership shall obtain the HOME Loan on the terms set forth in the Financing Summary concurrently with the execution of this Agreement. Wichita GP has obtained the Consent of AHF to the terms and forms of the HOME Loan Documents.
Home Loan. In connection with Employee’s relocation to the Seattle area, Safeco provided Employee with a home purchase loan in the amount of $780,000. The principal amount, together with any accrued interest from the Termination Date, will be due one (1) year after the Termination Date. This is consistent with the original loan terms as reflected in that certain Promissory Note Secured by a Deed of Trust, dated October 8, 2001, and nothing contained in this Agreement or otherwise amends Employee’s obligations with respect to this loan in any manner.
Home Loan. Commission agrees, subject to the terms and conditions of this Agreement and in consideration of the representations, covenants and obligations of Borrower contained in this Agreement, to make the HOME Loan to Borrower, to be used solely for the purposes described herein. Commission acknowledges that the HOME Loan funds are to pay for costs not included within the HUD Capital Advance, as outlined in the Proposed Budget attached hereto as Exhibit "H". In the event Borrower secures financing in excess of that which is necessary to achieve complete construction of the Project, the Commission reserves the right to receive from Borrower a payment on the Note referred to in Section 2 of such excess amount, if approved by HUD.
Home Loan. The outstanding agreement made with Executive concerning the purchase of Executive’s residence is modified as of the Effective Date so that the entire outstanding principal balance, together with all accrued interest, on the Effective Date shall be forgiven at such time. In addition, the Company shall reimburse the Executive for taxes incurred by the Executive in connection with such principal and interest forgiveness as of the Effective Date; and such reimbursement shall occur, and/or in its discretion the Company may pay directly to the applicable taxing authority in lieu of such tax reimbursement to the Executive, no later than ten (10) days after the Executive presents satisfactory documentation of the taxes incurred and a determination by the Company of the taxes incurred, provided that, except as provided in the next sentence, all payments to be made under this Section 4.3 must be made by the end of the Executive’s taxable year next following the Executive's s taxable year in which the income recognition event occurs for tax purposes. Any right to reimbursement arising due to a tax audit or litigation addressing the existence or amount of a tax liability must be made by the end of the Executive’s taxable year following the Executive’s taxable year in which the taxes that are the subject of the audit or litigation are remitted to the taxing authorities or, where no such taxes are remitted, the end of the Executive’s taxable year following the year in which the audit is completed or there is a final and non-appealable settlement or the resolution of the litigation.
Home Loan. $ Buyer to obtain a Home Loan, either an equity loan or a refinance loan, on residence located at . This is a contingency of the purchase. The loan shall have a maximum interest rate of %, amortized over months and due and payable in months.
Home Loan. You acknowledge and agree that USD$25,000 remains outstanding and in effect in regard to the promissory note (the “Promissory Note") you signed in favor of MitoKor on May 15, 2001, in regard to the interest free loan of USD$50,000 for a five year term, a copy of which is in Schedule E and that your obligations under the Promissory Note are now to the Company. Any payments to you pursuant to Sections 15, 16 or 18 of this Agreement will be applied to any outstanding balance under the Promissory Note at or following the termination of your employment.
Home Loan. The Company will provide you with a loan of $50,000 for use for a down payment on your purchase of a principal residence in the Seattle, Washington area within a reasonable commute to the Company’s Seattle facilities, subject to your execution of a full recourse promissory note secured by a security interest in the residence purchased with the proceeds of the loan. The loan will be payable in quarterly installments over a four-year period, and subject to the minimum interest rate determined by the Company’s accountants at the time of the loan necessary to avoid adverse accounting charges and the imputation of income. The loan will be payable in full upon your termination of employment. However, within 30 days from the due date of each quarterly installment, provided you remain an employee in good standing on such date, the Company will provide you with a retention bonus equal (on an after-tax basis) to the installment payment then due, which bonus will be subject to and used to offset the amount then due on the loan.
