Housing Loan Sample Clauses

Housing Loan. Each employee, regardless whether he is married to another in the same Bank, is eligible to a housing loan as follows:- (a) Amount of housing loan shall be any amount so long the monthly repayment shall not exceed 75% of the wages of the employee. The repayment period shall not be more than 35 years or the period up to retirement age whichever is earlier. (b) The above loan shall be granted subject and to such other terms and conditions as the Bank may impose.

Housing Loan. In addition, the Company will immediately provide the Employee with an interest-free loan of $8,000.00 (the “Housing Loan”); to cover the extra costs incurred securing accommodation in the Greater Vancouver region. The Housing Loan shall be forgiven by the Company at the rate of $2,666.67 at the end of each employment year, commencing on the Effective Date. If the Employee resigns or is dismissed for just cause, the remaining balance owing on the Housing Loan shall immediately become payable by the Employee to the Company. If the Company terminates the Employee employment without cause, the remaining balance owing on the Housing Loan shall immediately be forgiven.

Housing Loan. While procuring loans for housing, valuation report is necessary.

Housing Loan. Executive and the Company acknowledge and agree that ------------ the terms and conditions of the housing loan between Executive and the Company remain in full force and effect.

Housing Loan. In connection with Executive’s relocation to Seattle in 2001 Safeco provided Executive with a home purchase loan in an amount of $1,275,000. The principal amount will be due one (1) year after the Separation Date. This is consistent with the original loan terms and nothing contained in this Agreement or otherwise amends this loan in any manner.

Housing Loan. Beginning on October 1, 1999 and continuing for twenty-four (24) months, provided that Mr. Xxxxxxxxx xx continuously employed as an Officer of the Company, the Company shall make a loan each month to Mr. Xxxxxxxxx xx the principal amount of Twenty Thousand Dollars ($20,000) at no interest (the foregoing, the "Housing Loan"). On October 1, 2001, the following actions shall be taken: A. If on October 1, 2001, shares of the Company's Common Stock are publicly tradable and the stock issuable to Mr. Xxxxxxxxx xx exercise of the Stock Options has a fair market value of at least Forty Dollars ($40) per share (allowing for splits, conversions and like events), then Mr. Xxxxxxxxx xxxll repay the Housing Loan no more than ninety (90) days thereafter. B. Alternatively, if on October 1, 2001, shares of the Company's common stock are not publicly tradable, or if such stock is publicly tradable but the stock issuable to Mr. Xxxxxxxxx xx exercise of the Stock Options has a fair market value of less than Forty Dollars ($40), then the Housing Loan shall be forgiven by the Company. Such forgiveness shall be considered a Payment and the Company shall make Gross Up Payments to Mr. Xxxxxxxxx xxxh respect to the same.

Housing Loan. Should Jordan purchase a residence and property (“Property”) within the City of Los Altos no later than August 31, 2017, City agrees to make available to Jordan a housing loan of up to Two Million Dollars ($2,000,000 (“City Loan”) providing that said City Loan shall not exceed ninety percent (90%) of the Property purchase price. City Loan shall be limited to purchase of Property within City limits and shall be Jordan’s primary residence. Said loan shall be evidenced by a Promissory Note made by Jordan payable to the City and secured by a First Deed of Trust on the Property. The principal amount of the loan shall bear interest at the 5 Year Treasury Rate as of the Effective Date (i.e. September 1, 2016) amortized over a thirty (30) year period and recalculated to the 5 Year Treasury Rate every five years of the original date of the loan. Jordan shall pay principal and interest for the loan amount which shall be amortized and payable in equal bi-weekly installments through an automatic payroll deduction with the entire balance due in thirty (30) years. Jordan shall be responsible to pay all applicable taxes, insurance and homeowners fees and be responsible at his expense to maintain the Property in good and habitable conditions at all times. The loan may be prepaid earlier without penalty. The Promissory Note shall be due and payable in full: (i) within twelve (12) months of Jordan’s termination by the City pursuant to Section 6.A.1 herein; or Jordan’s death; or the date on which the City delivers notice of non-renewal of this Agreement to Jordan (Section 1.C) or (ii) within six (6) months of the effective date of Jordan’s termination if such termination is the result of Termination by Manager (Section 6.B); or termination with cause (Section 6.A.2); or the date on which the City determines, in its reasonable discretion, that the Property is no longer Jordan’s primary residence for any reason other than his death.

Housing Loan. It was agreed that each University shall procure the establishment of a Housing Loan Fund. A loan equivalent to, at least, eight (8) times of his/her annual salary (CONUASS), shall be granted to each academic staff who meets the conditions for the granting of the loan. The loan shall be repayable within a period and at an interest rate to be determined by the Governing Council of each University.

Housing Loan. The Company shall provide Xxxxxx with an interest-free loan of up to $75,000 to assist him in purchasing a home in the Bay Area. However, the Company will be required to impute interest by using a fair market value rate and recording the free interest as income on Xxxxxx'x annual W-2 statement of earnings. Xxxxxx shall execute a promissory note with the Company upon receiving the borrowed funds. The loan shall be collateralized by Xxxxxx'x vested stock options. Any net proceeds due to Xxxxxx'x exercising of his stock options shall be first used to repay the obligation set forth in the promissory note.

Housing Loan. Employees covered by this Agreement will be eligi- ble to apply for assistance as delineated in the current ‘University policy Guaranteed Housing Loan Plan, Policy Whenever possible, employees will arrange medical and dental appointments at times other than working hours. When it is not possible to make health care appoint- ments outside working hours, employees will arrange their appoint- ments as near as possible to the beginning or end of the work day. If health care appointments must be made during work- ing hours, the employee’s immediate supervisor should be notified several days in advance of the appointment if possible. Appointments for health care will normally be con- sidered leave of absence with pay.