Description of the Loan. 4 Section 2.1. Acknowledgment of Guarantor.................................................... 4 Section 2.2. Term of This Agreement......................................................... 5 Section 2.3. Interest....................................................................... 5 Section 2.4. Repayment...................................................................... 5 Section 2.5. Prepayment..................................................................... 5 Section 2.6. Obligations of Guarantor Hereunder Unconditional............................... 6 Section 2.7. General Terms of Payment....................................................... 6
Description of the Loan. The Loan ("Loan") is evidenced by the Note. The Borrower intends to use the proceeds of the Loan to repurchase certain of the outstanding common stock and/or the 7% subordinated Convertible Notes of the Borrower. Subject to the terms and conditions hereof, Borrower shall, with respect to the Loan:
a. Borrower agrees to pay all taxes and assessments, and all recording, documentary fees, and registration taxes.
b. All interest shall be payable monthly in arrears. All interest shall be computed on the basis of a 360-day year and shall be charged for the actual number of days within the period for which interest is being charged.
c. If any payment to be made by Borrower under the Loan shall become due on a Saturday, Sunday or business holiday under the laws of the State of Florida, the due date of such payment shall be extended to the next succeeding business day, and the period of such extension shall be included in computing any interest in respect of such payment.
d. The Note may be prepaid, at any time, in whole or in part, without premium or penalty.
Description of the Loan. Section 2.1. Acknowledgment of Guarantor. Guarantor hereby --------------------------- acknowledges and agrees that:
(a) Pursuant to this Agreement, Funding Corporation does hereby lend to Guarantor and Guarantor does hereby borrow from Funding Corporation funds in the amount of $153,550,000 (the "Partnership Loan") to be ---------------- evidenced by a promissory note due 2001 ("Partnership Note Due 2001") substantially in the form attached hereto as ------------------------- Exhibit A-1 and a promissory note due 2009 ("Partnership Note Due 2009") ------------------------- substantially in the form attached hereto as Exhibit A-2 issued by Guarantor in favor of Funding Corporation (collectively, the "Initial Partnership Notes");
(b) If proceeds from the issuance of any Additional Senior Secured Notes are loaned to Guarantor, (a) the outstanding principal balance on the Partnership Loan shall be increased by the amount of such proceeds, (b) the Partnership Loan shall include the loan to Guarantor of such proceeds, as evidenced by an additional promissory note issued by Guarantor (together with the Initial Partnership Note, the "Partnership Notes"), and (c) the terms and ----------------- provisions of this Credit Agreement relating to Senior Secured Notes shall apply to the Additional Senior Secured Notes, where appropriate.
Description of the Loan. 1. The loan Amount is RMB15, 000, 000.00 Yuan; in words: RMB Fifteen Million Yuan.
2. The loan lending interest rate shall be same to the current Basis Loan Interest Rate issued by BOC.
3. The loan term shall be starting from 27-11-2009 to 27-10-2010.
4. The loan shall be used for working capital, Party B shall not change the purpose of the loan.
5. Party A shall charge Party B a guarantee fee at a rate of 1.5% of the loan amount, deduct it as releasing the loan in a lump sum.
Description of the Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties made by the Borrower and the Guarantor, the Lender agrees to (a) make available to the Borrower a $10,000,000.00 term loan, as evidenced by the Promissory Note (the "Note") in substantially the form attached hereto as Exhibit "A". The Loan is secured, in part, by the Borrower's Accounts, Equipment, Inventory and General Intangibles, and the Borrower's real property located in Xxxxxx County, Texas, together with all improvements, fixtures, equipment and other appurtenances attached thereto.
Description of the Loan. As the loan provides Indonesia with the foreign currency for importation, it will contribute, as an immediate effect, to improving the deteriorating international balance of payments of Indonesia. It will also contribute to the achievement of development targets, for the counterpart fund of the Loan is to be used for development projects. The development projects to be financed this time are high priority projects of the Government of Indonesia in the field of agriculture, such as rehabilitation and construction of irrigation facilities and development of infrastructure in rural villages, which will counter the adverse effect of the recent severe drought. The implementation of these labour-intensive projects will contribute to increasing agricultural productivity and also to generating immediate employment in Indonesia which is suffering from the large-scale unemployment caused by the economic crisis.
Description of the Loan. The loan is evidenced by the Note in the principal sum of $3,000,000.00, a copy of which is attached hereto as Exhibit A, and principal and interest shall be payable on the Loan as set forth in the Note. Subject to the terms and conditions hereof, Borrower shall, with respect to the Loan:
a. Borrower agrees to pay all taxes and assessments, and all recording, documentary fees, registration taxes, appraisal fees, and all other expenses of closing.
b. All interest shall be payable monthly in arrears. All interest shall be computed on the basis of a 360-day year and shall be charged for the actual number of days within the period for which interest is being charged.
c. If any payment to be made by Borrower under the Loan shall become due on a Saturday, Sunday or business holiday under the laws of the State of Florida, the due date of such payment shall be extended to the next succeeding business day, and the period of such extension shall be included in computing any interest in respect of such payment.
d. Borrower agrees that it shall be responsible for any taxes, fees, penalties or assessments including, but not limited to State of Florida annual intangible tax assessments, which may now or hereafter be imposed by the State of Florida or any governmental agency having jurisdiction thereof as a result of any extensions of the maturity date of the Note pursuant to the terms of this Agreement, and such sums shall automatically be added to the principal due under the Note and shall be secured by the Collateral, if any, securing repayment of the Note.
Description of the Loan. The City agrees to provide the Loan to the Applicant. The Loan principal (the “Principal”) up to but not exceeding $500,000 shall be disbursed to the Applicant according to each “Draw Request” (as defined below) made by the Applicant under paragraph 3 below. The Loan shall be represented by a promissory note (the “Note”) to be signed at Closing in the form of “Exhibit A.” All Principal paid in each Draw Request shall not accrue interest until July 1, 2020 (the “Term Date”). On the Term Date: (i) all Principal shall then be amortized over three (3) annual payments, the first being due on June 1, 2021, accruing interest at the applicable federal mid-term rate in effect on the Term Date (the “Interest Rate”). Job Credits (as defined below) may be earned during the term of the Loan, retroactive to January 1, 2020 (the “Job Credit Effective Date”). Each annual amortized payment shall receive Job Credits earned, if any, from the previous Year before payment is made. A sample amortization schedule, anticipating Job Credits that may be earned each Year as set forth in the Application, a sample interest rate of 2.25%, and Draw Request up to $500,000, is attached to the Exhibit “A” Note for reference. A more accurate and working amortization schedule shall be created by the City on the Term Date.
Description of the Loan. As the Loan provides Indonesia with the foreign currency for importation, it will contribute, as an immediate effect, to improving the deteriorating balance of payments of Indonesia. It will also contribute to the achievement of development targets including poverty alleviation and regional disparity reduction, on a mid-to-long term basis, for the counterpart fund[1] of the Loan is to be used for development programs and projects for the socially vulnerable people affected by the economic structural adjustment. Such development programs and projects are to be implemented in the fields of education, health and social welfare, by such means as building of vocational schools, supply of equipment for community health services, and construction of rehabilitation facilities for the disabled.
Description of the Loan. Section 1.1 Name and Address of Local Borrower 1
Section 1.2 Authorized Officer(s) of Local Borrower 1
Section 1.3 Notices 1
Section 1.4 Loan Information 2
