General Loan Terms Clause Samples
The 'General Loan Terms' clause defines the fundamental conditions and rules that govern a loan agreement. It typically outlines key aspects such as the loan amount, interest rate, repayment schedule, and any applicable fees or charges. For example, it may specify how and when payments are to be made, what happens in the event of late payment, and the rights and obligations of both the lender and the borrower. This clause serves to ensure that both parties have a clear understanding of the basic terms of the loan, reducing the risk of misunderstandings or disputes.
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General Loan Terms. 18 Section 3.01
General Loan Terms. 15 2.1 THE LOAN........................................................15 2.2
General Loan Terms. Section 3.01.
General Loan Terms. 31 Section 4.1. Funding Notices......................................... 31 Section 4.2.
General Loan Terms. 8 2.1 The Loan .......................................................... 8 2.2
General Loan Terms. 2.1 The Loan. Lender is making a loan (the “Loan”) to Borrowers on the date hereof, in the original principal amount (the “Principal”) of $40,000,000, which shall mature on the Stated Maturity Date. Each Borrower acknowledges receipt of the Loan, the proceeds of which are being and shall be used to (i) repay and discharge existing loans relating to the Properties, (ii) fund certain of the Subaccounts, and (iii) pay transaction costs. Any excess proceeds may be used for any lawful purpose. No amount repaid in respect of the Loan may be reborrowed.
General Loan Terms. 2.1 The Loan
2.2 Interest; Monthly Payments
2.2.1 Generally
2.2.2 Default Rate 2.2.3 Taxes 2.2.4 New Payment Date 2.3 Loan Repayment 2.3.1 Repayment
General Loan Terms. 1.1 Subject to the conditions herein set forth, Lender agrees to loan to or for the benefit of Borrower, and Borrower agrees to draw upon and borrow, in the manner and upon the terms and conditions set forth herein, amounts that shall not exceed, in the aggregate, $100,000 (the "Loan"). Disbursements under the Loan are referred to herein individually as an "Advance" and collectively as "Advances."
1.2 The Loan shall be a non-revolving line of credit, against which Advances may be made to Borrower, with no right of Borrower to readvance any repaid sums. Lender shall have no obligation to make any Advance that would cause the outstanding principal balance of the Loan to exceed the limitations of Paragraph 1.
1.3 The Loan shall be evidenced by a Non-Revolving Credit Line Note in the form attached hereto as Exhibit A (the "Note") of Borrower, executed and delivered simultaneously with the execution of this Agreement, in the face amount of $100,000, payable to Lender upon the terms and conditions contained therein.
General Loan Terms. 31 Section 4.1
General Loan Terms. 18 2.1 The Loan ............................................................................................................... 18 2.2 Interest; Monthly Payments .................................................................................. 18 2.2.1 Generally ................................................................................................... 18 2.2.2 Default Rate............................................................................................... 18 2.2.3 Taxes ......................................................................................................... 18 2.2.4 Breakage Indemnity .................................................................................. 19 2.2.5