Additional Loan Provisions Clause Samples
The "Additional Loan Provisions" clause defines supplementary terms and conditions that apply to a loan agreement beyond the standard provisions. This may include details such as specific covenants the borrower must follow, additional reporting requirements, or unique repayment arrangements tailored to the parties' needs. By outlining these extra stipulations, the clause ensures that both lender and borrower are aware of and agree to any special obligations or rights, thereby reducing ambiguity and addressing specific risks or requirements not covered in the main loan terms.
Additional Loan Provisions. Under the terms of this verbal agreement, Ms. ▇▇▇▇▇▇▇▇▇ may, at her discretion, provide additional loans to Orbit Innovations Group Inc. to cover future expenses, such as offering costs, filing fees, and professional fees.
Additional Loan Provisions. If any Regulatory Change, or compliance by the Bank or any Person controlling the Bank with any request or directive of any Governmental Authority, central bank or comparable agency (whether or not having the force of law) shall (a) impose, modify or deem applicable any assessment, reserve, special deposit or similar requirement against assets held by, or deposits in or for the account of or loans by, or any other acquisition of funds or disbursements by, the Bank; (b) subject the Bank or any Loan to any tax, duty, charge, stamp tax or fee or change the basis of taxation of payments to the Bank of principal or interest due from the Borrower to the Bank hereunder (other than Non-Excluded Taxes and Excluded Taxes); or (c) impose on the Bank any other condition regarding the Loan or the Bank’s funding thereof, and the Bank shall determine (which determination shall be conclusive, absent manifest error) that the result of the foregoing is to increase the cost to, or to impose a cost on, the Bank or any Person controlling the Bank of making or maintaining such Loan or to reduce the amount of principal or interest received by the Bank hereunder, then the Borrower shall pay to the Bank or such controlling Person, within thirty (30) Business Days after receipt of written notice thereof from the Bank, which notice shall set forth the Bank’s supporting calculations in reasonable detail, such additional amounts as the Bank shall, from time to time, determine are sufficient to compensate and indemnify the Bank for such increased cost or reduced amount, so long as such amounts have accrued on or after the day which is 180 days prior to the date on which Bank first made demand therefore.
Additional Loan Provisions. Tenant agrees to pay as Supplementary Rent, any Mortgagee or HUD-mandated deposits to reserves for the repair and/or replacement of the Leased Premises (“Replacement Reserves”), insurance premiums (excluding mortgage insurance premiums (MIP), which shall be Landlords’ responsibility), water rates, taxes and assessments, and any other impounds relating to the Premises securing the Loan and required by Lender and/or HUD (collectively, the “Required Deposits”). Tenant shall pay the Required Deposits in advance on the first day of each and every month during the Term, without previous demand, notice or presentment therefor and without abatement, offset or deduction of any kind whatsoever, except for and only to the extent of any amounts owing to Landlord hereunder that Landlord or Lender requires Tenant to pay directly to Lender and which Tenant has timely and fully paid directly to Lender. Notwithstanding any other language to the contrary, Landlord acknowledges and agrees that Tenant shall not be obligated by Landlord to deposit funds into any reserves, escrows or other deposits required under the Lease for any expenditure or obligation for which a Required Deposit is also required to the extent the cost of such expenditure or obligation has been funded by Tenant into the Required Deposit. Landlord agrees to reimburse, or to permit Mortgagee to reimburse, Tenant out of, as applicable, the Replacement Reserve and the property insurance escrow maintained with respect to the Facility (the “Facility RR” and the “Facility PIE”) for the actual, out-of-pocket costs of repairs and replacements to and property insurance premiums for the Facility paid for by Tenant. Tenant’s reimbursement rights are subject to the conditions that (i) each such reimbursement is permissible under, and is paid in accordance with, applicable Mortgagee’s policies and requirements and HUD rules and regulations, (ii) Landlord and/or Mortgagee actually receives the reimbursement funds out of the Facility RR or Facility PIE, (iii) Tenant has complied with the terms of the Lease relating to Alterations and repairs or insurance, as applicable, (iv) no Event of Default or default otherwise exists under the Lease (including this Addendum), and (v) Landlord receives a copy of the reimbursement request, reimbursement payment receipt and related documentation regardless of whether the reimbursement request is made directly to Landlord or Mortgagee. Further and notwithstanding any other language to th...
Additional Loan Provisions