Homestead Loan and Pinehurst Loan Sample Clauses

Homestead Loan and Pinehurst Loan. There shall be due and payable on the Closing Date interest on the Principal Indebtedness outstanding on the Closing Date for the Homestead Loan and the Pinehurst Loan from the Closing Date through the last day of the first Interest Period, and there shall be due and payable on the first day of each Interest Period commencing with the first day of the third Interest Period (x) interest on the Principal Indebtedness of each of the Homestead Loan and the Pinehurst Loan that has accrued during the preceding Interest Period, and (y) a portion of the Principal Indebtedness of each of the Homestead Loan and Pinehurst Loan computed by amortizing the Principal Indebtedness outstanding on the Closing Date over a period of Twenty Five (25) years at the Contract Rate applicable to the Homestead Loan and Pinehurst Loan, respectively. All outstanding Principal Indebtedness on the Homestead Loan, together with all accrued and unpaid interest thereon, shall be due and payable on the Homestead Loan Maturity Date. All outstanding Principal Indebtedness on the Pinehurst Loan, together with all accrued and unpaid interest thereon, shall be due and payable on the Pinehurst Loan Maturity Date.
Sample 1
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Homestead Loan and Pinehurst Loan. (1) Neither Homestead nor Pinehurst shall have a right to prepay any portion of the Principal Indebtedness of their respective Resort Loans prior to and including the second (2nd) anniversary of the Closing Date. From and after the day following the second anniversary of the Closing Date, Homestead and Pinehurst may prepay, in whole but not in part, the outstanding Principal Indebtedness of their respective Resort Loans upon ninety (90) days' prior written notice sent to and received by Lender at Lender's address as provided and in the manner specified in this Agreement; provided that any prepayment shall be accompanied by the payment of (A) all accrued and unpaid interest, (B) any other amounts due and unpaid under the Loan Documents, and (C) the Prepayment Premium. Any prepayment permitted by this Section 2.3(b)(ii) shall be made on the first day of the month following the expiration of the ninety (90) day period after Lender receives the written notice required by this Section 2.3(b)(ii).
Sample 1

Related to Homestead Loan and Pinehurst Loan

  • Term Loan Agreement An Event of Default (as defined in the Term Loan Agreement) shall occur.

  • Loan Agreements Notwithstanding any term hereof (or any term of the UCC that might otherwise be construed to be applicable to a “securities intermediary” as defined in the UCC) to the contrary, none of the Collateral Agent, the Collateral Custodian nor any securities intermediary shall be under any duty or obligation in connection with the acquisition by the Borrower, or the grant by the Borrower to the Collateral Agent, of any Loan Asset in the nature of a loan or a participation in a loan to examine or evaluate the sufficiency of the documents or instruments delivered to it by or on behalf of the Borrower under the related Loan Agreements, or otherwise to examine the Loan Agreements, in order to determine or compel compliance with any applicable requirements of or restrictions on transfer (including without limitation any necessary consents). The Collateral Custodian shall hold any Instrument delivered to it evidencing any Loan Asset granted to the Collateral Agent hereunder as custodial agent for the Collateral Agent in accordance with the terms of this Agreement.

  • Execution of Credit Agreement; Loan Documents The Administrative Agent shall have received (i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person party thereto, as applicable and (iv) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto.

  • Additional Loan Documents Borrower shall have executed and delivered to Lender such other documents as shall have been requested by Lender to renew, and extend, the Loan Documents to secure payment of the Obligations of Borrower, all in form satisfactory to Lender and its counsel.

  • The Loan Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date.

  • Mortgage Loan Documents 2. Residential loan application.

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • First Loans and Letters of Credit On the Closing Date:

  • of the Loan Agreement Section 1.1 of the Loan Agreement is hereby amended as follows:

  • The Mortgage Loans Concurrently with the execution and delivery of this Agreement, the Seller hereby transfers to the Purchaser, without recourse, all of its right, title and interest existing now or in the future in,

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