Home Loan Sample Clauses

Home Loan. Subject to the provisions of subsection (c) below, simple interest will accrue on the outstanding principal balance of the HOME Loan at a per annum rate of interest equal to three percent (3%), commencing on the date of disbursement.
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Home Loan. Commission agrees, subject to the terms and conditions of this Agreement and in consideration of the representations, covenants and obligations of Borrower contained in this Agreement, to make the HOME Loan to Borrower, to be used solely for the purposes described herein.
Home Loan. Wichita GP irrevocably and unconditionally guarantees and covenants that the Partnership shall obtain the HOME Loan on the terms set forth in the Financing Summary concurrently with the execution of this Agreement. Wichita GP has obtained the Consent of AHF to the terms and forms of the HOME Loan Documents.
Home LoanIn connection with Employee’s relocation to the Seattle area, Safeco provided Employee with a home purchase loan in the amount of $780,000. The principal amount, together with any accrued interest from the Termination Date, will be due one (1) year after the Termination Date. This is consistent with the original loan terms as reflected in that certain Promissory Note Secured by a Deed of Trust, dated October 8, 2001, and nothing contained in this Agreement or otherwise amends Employee’s obligations with respect to this loan in any manner.
Home Loan. Commission agrees, subject to the terms and conditions of this Agreement and in consideration of the representations, covenants and obligations of Borrower contained in this Agreement, to make the HOME Loan to Borrower, to be used solely for the purposes described herein. Commission acknowledges that the HOME Loan funds are to pay for costs not included within the HUD Capital Advance, as outlined in the Proposed Budget attached hereto as Exhibit "H". In the event Borrower secures financing in excess of that which is necessary to achieve complete construction of the Project, the Commission reserves the right to receive from Borrower a payment on the Note referred to in Section 2 of such excess amount, if approved by HUD.
Home Loan. The outstanding agreement made with Executive concerning the purchase of Executive’s residence is modified as of the Effective Date so that the entire outstanding principal balance, together with all accrued interest, on the Effective Date shall be forgiven at such time. In addition, the Company shall reimburse the Executive for taxes incurred by the Executive in connection with such principal and interest forgiveness as of the Effective Date; and such reimbursement shall occur, and/or in its discretion the Company may pay directly to the applicable taxing authority in lieu of such tax reimbursement to the Executive, no later than ten (10) days after the Executive presents satisfactory documentation of the taxes incurred and a determination by the Company of the taxes incurred, provided that, except as provided in the next sentence, all payments to be made under this Section 4.3 must be made by the end of the Executives taxable year next following the Executive's s taxable year in which the income recognition event occurs for tax purposes. Any right to reimbursement arising due to a tax audit or litigation addressing the existence or amount of a tax liability must be made by the end of the Executive’s taxable year following the Executive’s taxable year in which the taxes that are the subject of the audit or litigation are remitted to the taxing authorities or, where no such taxes are remitted, the end of the Executive’s taxable year following the year in which the audit is completed or there is a final and non-appealable settlement or the resolution of the litigation.
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Home Loan. $ Buyer to obtain a Home Loan, either an equity loan or a refinance loan, on residence located at . This is a contingency of the purchase. The loan shall have a maximum interest rate of %, amortized over months and due and payable in months.
Home LoanThe Company will loan to Given for purposes of purchasing the New Home a sum of up to Two Hundred Thousand Dollars ($200,000). This New Home Loan will bear simple interest at seven percent (7%) per year, with interest to accrue and not compound during the initial three (3) years of the loan, and with no payments of principal or interest to be due during these initial three years. After the initial three (3) years of the New Home Loan, interest only payments will be due and payable on the 15th day of each calendar month, with the interest accrued as of the third anniversary of the Loan to be amortized and paid in 36 equal monthly installments over the subsequent three (3) year period together with the interest then currently accruing. The New Home Loan will be secured by a customary form second deed of trust on the New Home, and will be subordinate to any seller financing or bank or financial institution first deed of trust on the New Home. In addition, the New Home Loan will be repayable as follows: (A) Installments of twenty-five percent (25%) of the original principal balance of the Loan, plus accrued interest on this amount, will be forgiven by the Company upon the closing of each single transaction which provides the Company with committed funds of at least $2,000,000 in the form of either equity, convertible debt or gross income to the Company; (B) Within thirty days after the sale of any securities of the Company then held by Given which were acquired pursuant to options granted to him by the Company, an amount equal to twenty-five percent (25%) of the net proceeds (netting out in the account the sums necessary to exercise the options) received by Given from the sale of these securities; (C) Upon the sale of the New Home; and (D) In full upon the earlier of the fifth anniversary of the making of the New Home Loan or one (1) year after the termination of Given's employment by the Company. If any portion of the Loan is forgiven pursuant to Section 3(a)(v)(A), at the time of the forgiveness, the Company will also pay to Given an amount to take into account the gross up for federal and state income taxes on the forgiven amounts.
Home Loan. ADFA will provide a construction and permanent loan to the Project through HOME funding (the “HOME Loan”). The Home Loan will be evidenced by a promissory note in a form acceptable to ADFA (the “Note”). Absent any default, interest will accrue on the HOME Loan at an annual rate of one percent (1%), with equal amortizing payments of principal and interest as set forth in the Note to be paid monthly commencing one year after the placed-in-service date and continuing for a term of [NUMBER OF YEARS] years; provided that interest shall not begin to accrue on any HOME Loan funds advanced until one year after the placed-in-service date, when the first monthly payment of principal and interest under the Note is due.
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