The Loan Terms Sample Clauses

The Loan Terms. Conditions and Procedures Addendum to the Original Credit Agreement is hereby amended by deleting Section 1.9(a) and substituting therefor the following:
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The Loan Terms. COMPANY agrees to loan to BORROWER the principal sum of $XXX.XX at a fixed interest rate of XX% per annum (the "Loan"). Interest shall be calculated on a 360-day year consisting of twelve 30-day months and shall be payable quarterly commencing on the last day of the next calendar quarter following the initial disbursement. The principal balance of the Loan shall be due and payable five years from the date of the initial disbursement. At the end of each of the first five years from the date of the initial disbursement, COMPANY is obligated to extend the Loan's maturity for an additional year if BORROWER continues to satisfactorily perform its obligations under this Agreement. Annually thereafter, COMPANY has the option of extending the Loan's maturity for an additional year, but is not obligated to do so. BORROWER may pre-pay the Loan, in whole or in part, at any time without penalty. COMPANY agrees that this debt shall be subordinated to all other creditors.
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The Loan Terms 
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Related to The Loan Terms

  • Loan Terms The Loan will be evidenced by the Note and will bear interest and be paid in accordance with the payment terms set forth in the Note.

  • General Loan Terms 18 Section 3.01

  • Loan Term The loan term is one year from July 1, 2020 (calculated from the date when Party A actually lends the loan, and Party B shall issue a receipt separately) to July 1, 2021.

  • of the Loan Agreement Section 1.1 of the Loan Agreement is hereby amended as follows:

  • Terms of Loan (a) The General Partner may, but need not, advance monies from time to time to the Partnership to meet any necessary cash requirements of the Partnership including, but not limited to, operating expenses of the Partnership or the payment of principal and interest required under any note. The aggregate amount of such advances to the Partnership shall become an obligation of the Partnership to the General Partner and shall be payable out of the gross income of the Partnership together with simple interest on a monthly basis at a rate equal to the Xxxxxx Bank and Trust Company of Chicago’s prime rate in effect from time-to-time plus one percent (1%) per annum (the “Loan Rate”). All such loans from the General Partner, and all repayments of such loans to the General Partner, shall be in cash and not in promissory notes, other property or services. The repayment of such loan shall be at a time, in the discretion of the General Partner, that there is sufficient cash flow from the operation of the Partnership to permit such repayment without impairing the solvency of the Partnership, provided that any such unpaid advances shall become immediately due and payable upon termination and dissolution of the Partnership. Notwithstanding the foregoing, no payment of interest on any such loan from the General Partner shall be paid by the Partnership if and while payments of First Tier Distributions as defined and provided for in Section 15.2 below are not current, and no repayment of principal shall be made to the General Partner for any such loan if and while payments of First Tier Distributions or Second Tier Distributions as defined and provided for in Section 15.2 below are not current. If and to the extent that there is sufficient cash flow as required above to repay such advances, such repayment to the General Partner shall be made on or before the fifteenth day after the end of each quarter.

  • Terms of the Loan 2.1 The Lender will lend to the Company, and the Company will borrow from the Lender by way of one advance to be evidenced by a promissory note in the form attached hereto as Schedule “A”, the Principal sum of fifty thousand dollars (USD) subject to the terms and conditions of this Agreement and the Securities.

  • Amount and Terms of Loan The Borrower agrees to borrow from IREDA and IREDA agrees to lend to the Borrower, on the terms and conditions contained herein as also in the General Conditions, the sum mentioned in Schedule-I amounting to Rs. lakhs (Rupees only) . The said sums are hereinafter referred to as "the Loan".

  • Amount and Terms of the Loan Subject to the terms of this Agreement:

  • Modifications to Loan Agreement 1. The Loan Agreement shall be amended by deleting the following definition appearing in Section 1.1 thereof:

  • Mortgage Loan Schedules The Mortgage Loan Seller agrees to provide to the Purchaser as of the date hereof a preliminary listing of the Mortgage Loans (the “Preliminary Mortgage Loan Schedule”) setting forth the information listed on Exhibit 2 to this Agreement with respect to each of the Mortgage Loans being sold by the Mortgage Loan Seller. If there are changes to the Preliminary Mortgage Loan Schedule, the Mortgage Loan Seller shall provide to the Purchaser as of the Closing Date a final schedule (the “Final Mortgage Loan Schedule”) setting forth the information listed on Exhibit 2 to this Agreement with respect to each of the Mortgage Loans being sold by the Mortgage Loan Seller to the Purchaser. The Final Mortgage Loan Schedule shall be delivered to the Purchaser on the Closing Date, shall be attached to an amendment to this Agreement to be executed on the Closing Date by the parties hereto and shall be in form and substance mutually agreed to by the Mortgage Loan Seller and the Purchaser (the “Amendment”). If there are no changes to the Preliminary Mortgage Loan Schedule, the Preliminary Mortgage Loan Schedule shall be the Final Mortgage Loan Schedule for all purposes hereof.

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