Credit Facilities 23 2.1 Loans...............................................................................................23 2.2 Letter of Credit Accommodations.....................................................................24
Local Church’s Payment Obligations At Closing or otherwise prior to or on the Disaffiliation Date, Local Church shall pay to the Annual Conference, in a manner specified by Annual Conference, the following:
Bank Financing The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other:
Letters of Credit (a) The Letter of Credit Commitment.
Treatment of Indebtedness Failure of Licensee to satisfy the financial obligations of this License Agreement may result in one or more of the following: