Payment of Loan definition

Payment of Loan. Upon the loan due date, payment shall be made to the Company for the principal loan amount and the accrued interest. If the employee does not have the funds to repay the loan, the Company may offset and utilize the Options or shares underlying the Options for the purpose of paying the principal and interest due. The number of shares needed for such offset will be determined based on the total loan amount and cumulative accrued interest divided by the per share price of the stock as quoted on Nasdaq as of the close of business for the preceding day of the period being measured. If an employee chooses to exercise and sell their options, the employee agrees that the principle loan amount and accrued interest will be paid out of the sale proceeds and remitted by the broker to the Company on the employee's behalf. A late payment charge may be applied to the outstanding amount and accrued interest.
Sample 1

Examples of Payment of Loan in a sentence

  • The effectiveness of this Loan Modification Agreement is conditioned upon the following: • Bank’s receipt of this Seventh Loan Modification duly executed by the Borrower; and • Payment of Loan Variance and Legal Documentation fees.

  • Payment of Loan.................................................................................................................................................................................

  • A final distribution of Cash Flow, in accordance with the Waterfall, shall be made immediately prior to the Payment of Loan Closing or Borrower Buyout Closing, as applicable.

  • The effectiveness of this Loan Modification Agreement is conditioned upon the following: • Bank’s receipt of this Sixth Loan Modification duly executed by the Borrower; and • Payment of Loan Variance and Legal Documentation fees.

  • From and after the Payment of Loan Closing or Borrower Buyout Closing, as applicable, the Subordinated Loan shall be deemed to have been paid in full, and neither Borrower nor Subordinated Lender shall have any further obligations under this Subordinated Loan Agreement, other than as to any indemnities against claims made by third parties.

  • If Borrower elects (or is deemed to have elected) the Payment of Loan Option, then the closing of such transaction (the "Payment of Loan Closing") shall occur within sixty (60) days after the date Borrower gave Subordinated Lender the Borrower's Buy/Sell Election.

  • Agent Bank shall pay actually received fund of loan fund to account for loan fund at [seventeen (17) o’clock] (Beijing time) on each withdrawal date or earlier in accordance with Article 8.1 (Issuing of Loan Fund) and make payment in accordance with Article 8.2 (Payment of Loan Fund).

  • Payment of Loan Payments on Default; Suit Therefor Section 14.03.

  • To the extent that after the Valuation Date Borrower disposes of any assets and receives Net Proceeds from Sales or Refinancings, such proceeds shall be held and not distributed by Borrower until after the Payment of Loan Closing or Borrower Buyout Closing, as applicable.

  • NesbettSuite 31311 Stone Street, 3rd FloorAtlanta, GA 303038New York, NY 10004T: 404.526.6200 F: 404.526.6218T: 212.825.3210 F: 212.825.3229 Corautus Genetics Closes on $2.5 Million Loan Facility - Boston Scientific Agrees To Accelerate Payment of Loan Commitment Citing Progress in Clinical Development - ATLANTA, GA…January 13, 2004 – Corautus Genetics Inc.

Related to Payment of Loan

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Term Advance has the meaning specified in Section 2.01(a).

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Prepayment means any prepayment, whether in part or in full, in respect of any Receivable.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Type of Loan means (i) with respect to either Term Loans or Revolving Loans, a Base Rate Loan or a Eurodollar Rate Loan, and (ii) with respect to Swing Line Loans, a Base Rate Loan.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Debt Prepayment Application means, with respect to any asset disposition, the application by the Company or any Subsidiary thereof of cash in an amount equal to the Net Proceeds Amount (or portion thereof) with respect to such asset disposition to pay Senior Indebtedness of the Company or such Subsidiary.

  • Term Loan as defined in Section 2.1.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Notice of Loan Prepayment means a notice of prepayment with respect to a Loan, which shall be substantially in the form of Exhibit 2.05 or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Term B Loan is defined in Section 2.2(a)(ii) hereof.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Loan Payment means any amount payable by the Loan Parties to the Bank pursuant to the Legal Agreements or these General Conditions, including (but not limited to) any amount of the Withdrawn Loan Balance, interest, the Front-end Fee, interest at the Default Interest Rate (if any), any prepayment premium, any transaction fee for a Conversion or early termination of a Conversion, any premium payable upon the establishment of an Interest Rate Cap or Interest Rate Collar, and any Unwinding Amount payable by the Borrower.”

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Mandatory Prepayments means the prepayments of the Loans required by Section 3.5 hereof.

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Term A Loan is defined in Section 2.2(a)(i) hereof.

  • Additional Advance means each additional loan that is made under an RBC Homeline Plan after the initial advance, including any new or additional advances, increases to principal, or further borrowings or extensions of the term, including in the case of any fluctuating account or accounts, revolving loans, or lines of credit, additional segments of such facilities made after the initial advance. They are referred to collectively as Additional Advances.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.