Funds of Lender. Any funds of Lender used for any purpose referred to in this Article V shall constitute Advances secured by the Loan Documents and shall bear interest at the rate specified in the Note to be applicable after default thereunder.
Appears in 2 contracts
Samples: Secured Construction Loan Agreement (Campus Crest Communities, Inc.), Secured Construction Loan Agreement (Campus Crest Communities, Inc.)
Funds of Lender. Any funds of Lender used for any purpose referred to in this Article V V, shall constitute Advances secured by the Loan Documents and shall bear interest at the rate specified in the Note to be applicable after default thereunder.
Appears in 2 contracts
Samples: Construction Loan Agreement (Campus Crest Communities, Inc.), Construction Loan Agreement (Campus Crest Communities, Inc.)
Funds of Lender. Any funds of Lender used for any purpose referred to in this Article V IV shall constitute Advances secured by the Loan Documents and shall bear interest at the rate specified in the Note to be applicable after default or maturity thereunder.
Appears in 2 contracts
Samples: Construction Loan Agreement (Meritage Hospitality Group Inc /Mi/), Loan Agreement (Schlotzskys Inc)
Funds of Lender. Any funds of Lender used for any purpose referred to in this Article V shall constitute Advances secured by the Loan Documents and shall bear interest at the rate specified in the Note to be applicable after default thereunderfor past-due payments.
Appears in 1 contract
Samples: Construction Loan Agreement (Micropac Industries Inc)
Funds of Lender. Any funds of Lender used for any purpose referred to in this Article V shall constitute Advances secured by the Loan Documents Credit Agreement and shall bear interest at the rate specified in the Note to be applicable after default thereunder.
Appears in 1 contract
Samples: Secured Construction Loan Agreement (Lakes Entertainment Inc)
