Commercial Loans Clause Samples
The 'Commercial Loans' clause defines the terms and conditions under which a lender provides financing to a business entity for commercial purposes. It typically outlines the loan amount, interest rate, repayment schedule, and any collateral requirements, as well as the borrower's obligations and restrictions on the use of funds. By clearly specifying these elements, the clause ensures both parties understand their rights and responsibilities, thereby reducing the risk of disputes and facilitating smooth financial transactions.
Commercial Loans. One (1%) percent of principal (renewals of commercial loans and commercial lines of credit do not qualify);
Commercial Loans. The Borrowers represent and warrant 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. 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. 39 4.1 Conditions to Closing Date..................................................... 40 SECTION 5. COVENANTS 42
Commercial Loans. Grantor warrants and represents that the liabilities secured by this Deed of Trust are "commercial loans" within the meaning of the Commercial Law Article of the Annotated Code of Maryland.
Commercial Loans. The Loan has not been entered into primarily for personal, family or household purposes.
Commercial Loans. 38 9.8. Insurance and Risk Management............................38 (iii) 4
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.
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 to finance in whole or part income producing business or activity. ▇▇▇▇▇▇▇▇▇ has executed this Instrument or has caused the same to be executed by its duly authorized representatives as of the date first above written. BETA TECHNOLOGIES, INC., a Delaware corporation By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇ Title: Chief Financial Officer STATE OF Vermont ) SS: COUNTY OF Chittenden I, the undersigned, a Notary Public in and for the County and State aforesaid, DO HEREBY CERTIFY that ▇▇▇▇▇▇ ▇▇▇▇▇▇ the Chief Financial Officer of BETA TECHNOLOGIES INC., personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me in person and acknowledged that he signed and delivered the same instrument as his own free and voluntary act and as free and voluntary act of BETA TECHNOLOGIES INC., for the uses and purposes therein set forth. GIVEN under my hand and official seal this 11th day of December, 2023. /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Being all of the land and premises, together with the property interests appurtenant thereto, as described in, and subject to the terms and conditions of. that certain Ground Lease between the City of Burlington, as Lessor, and Beta Technologies, Inc. as ▇▇▇▇▇▇, elated July 28, 2022, a Memorandum of which was recorded on August 5, 2022 in Book 1669, Page 60 (reference to First Amendment to Memorandum of Ground Lease recorded November 9, 2023, in Book 1714 at Page 271 of the South Burlington Land Records and all as depicted on the plan prepared by Vermont Survey and Engineering, Inc.. entitled “ALTA/NSPS Land Title Survey Showing Areas to be Leased by BETA Technologies, Inc. on Lands of City of Burlington,” recorded August 5, 2022, in Map Slide 652.1. 652.2, and 652.3 of the South Burlington Land Records. The Ground Lease describes the following parcels: Beginning at an unmonumented point located at Northing 715896.39 Easting 1473130.37; Thence South 48 degrees 42 minutes 45 seconds East a distance of 76.22 feet to an unmonumented point further described as being located at Northing 715846.10, Easting 1473187.65; Thence South 48 degrees 42 minutes 45 seconds East a distance of 474.73 feet to an unmonumented point; Thence South 48 degrees 42 minutes 45 seconds East a distance of 43.31 feet to an unmonumented point; Thence South 11 degrees 29 minutes 39...