Commercial Loans. One (1%) percent of principal (renewals of commercial loans and commercial lines of credit do not qualify);
Commercial Loans. The Borrower represents and warrants that the Advances are and shall be "Commercial Loans" as such term is used in Chapter 306 of the Texas Finance Code. In the event that applicable law provides for an interest ceiling under Chapter 303 of the Texas Finance Code, the ceiling shall be the indicated (weekly) ceiling and shall be used when appropriate in determining the Maximum Rate.
Commercial Loans. Lending to a company involves a multi layered approach. Our team guides lenders and borrowers through every aspect of the complexities involved in the lending process to accomplish their respective financing and business goals. Our clients include commercial banks, institutional lenders, specialty finance companies, hedge funds, insurance companies and private lenders, along with corporate and noncorporate borrowers in a variety of industries. Our team is experienced in both domestic and cross-border lending transactions. ☑ TRANSACTION CONSIDERATIONS • Loan agreement is drafted by lender’s solicitors • Corporate due diligence • AML checks on funds • Solvency checks • Corporate due diligence • Solvency checks • Guarantor agreement • Independent legal advice • Companies House debenture for both fixed and floating charges • Solvency checks • Land Registry legal charge • Property title checks required • Asset valuation ☑ REAL ESTATE TEAM Our corporate team work closely with our property team to ensure the appropriate property due diligence is undertaken to identify issues early and attain enforceable security. Our lawyers can guide you through the complexities of commercial lending while anticipating the challenges and applying practical solutions to your specific needs throughout every phase of the process. If the security property suffers from any title defects, restrictions or encumbrances, our team shall ensure that they are resolved prior to the loan agreement being finalised. For example, where a property has a prior legal charge or debenture, the existing lenders consent may be required for the borrower to take a second loan. On the other hand a subsequent lender may require first priority in which case this can be dealt with by way of a deed of subordination. Drafting Loan Agreement ✓ ✓ 1st revision ✓ ✓ Standard loan / facility / legal mortgage types ✓ ✓ Up to £100k ✓ ✓ Secured or unsecured ✓ ✓ 2nd revision ✓ Negotiations with 3rd party / solicitor ✓ Dealing with execution and completion ✓ Basic due diligence (bankruptcy search / insolvency search) ✓ Basic AML check on funds ✓ Transfer of funds via our bank account ✓ * Subject to our Terms of Engagement and any disbursements payable. DRAFTING SERVICE FROM INCLUDES Secured charge £500 Basic title check re ownership and restrictions Land charges bankruptcy search Drafting application for registration Submitting application Lender consent £500 Obtaining consent from secured lender (where we are on the pan...
Commercial Loans. 38 9.8. Insurance and Risk Management............................38 (iii) 4
Commercial Loans. 39 4.1 Conditions to Closing Date..................................................... 40 SECTION 5. COVENANTS 42
Commercial Loans. Neither the Loans or Notes nor any participation therein constitutes a "security" for the purposes of the U.S. federal securities laws and state securities or "blue sky" laws and no consent, approval, authorization or order of, or filing, qualification or registration with, any court or governmental agency or body is required under the U.S. federal securities laws and state securities or "blue sky" laws in connection with the making of the Loans, the issuance of the Notes or any transfer of an interest therein by way of participation, assignment or otherwise. The Loans, the Notes and other obligations hereunder are commercial loans and not securities.
Commercial Loans. All of Seller's secured and unsecured commercial loans carried on the books of Seller excluding Nonperforming or Classified Loans with respect to Seller's banking business as of the close of business on the Closing Date, plus accrued interest, fees and unposted activity (the "Commercial Loans"). A true and complete list, to the best of Seller's knowledge, of Commercial Loans as of June 30, 1998, is set forth on Schedule G hereto. The parties acknowledge that Schedule G shall be updated as of the Closing Date in accordance with Section 6.02 hereof.
Commercial Loans. The Loan has not been entered into primarily for personal, family or household purposes.
Commercial Loans. An Acquired Company owns good and valid title to, and is the sole owner and holder of, each Commercial Loan, free and clear of all Security Interests other than Security Interests set forth in Schedule 3.11(d). At the time of origination, the security interest of the Acquired Company in the Subject Property securing each Commercial Loan was a first priority lien. Each Commercial Loan (A) was incurred by an Acquired Company in the ordinary course of its business, (B) is secured by a valid and enforceable lien encumbering the Subject Property securing the same, and (C) is a valid and enforceable obligation of the borrower thereunder for the amount thereof subject to state or federal Laws that may prevent immediate enforceability of remedies, including foreclosure and bankruptcy Laws. Each Commercial Loan was originated in all material respects in compliance with all applicable state and federal Laws.
Commercial Loans. Mortgagor hereby stipulates and warrants that the loans secured hereby are commercial loans, and that all of the proceeds of such loans will be used solely to acquire or carry on a business or commercial enterprise.
