Interest Free Loan. For the 2016 calendar year, the District will also make an interest-free loan available to each employee at the beginning of the calendar year in order to enable the employee to make an immediate HSA contribution so that they have sufficient funds in the employee’s HSA at the beginning of the plan year to satisfy the deductible. The loan shall be interest-free and shall be documented by an election form/loan agreement. In order to obtain the loan, each employee will be required to sign an election form and loan agreement under which the employee will agree to repay the loan amount by payroll deduction, and if there is an interruption in pay due to an unpaid leave or termination of employment, the employee shall further agree to otherwise timely repay the loan.
Interest Free Loan. With respect to any taxable year ending prior to the second (2nd) anniversary of the Class C Common Measuring Date, if a Common Member is allocated any taxable income arising from a sale or other disposition (other than in the ordinary course of business) of the Property contributed by such Member pursuant to Code Section 704(c) other than taxable income arising from a fully taxable sale or disposition for which such Member has elected to receive an interest-bearing Tax Loan under Section 4.8.3, then (i) the Tax Loan for such tax liability shall be due and payable to the Company no later than ninety (90) days after the second (2nd) anniversary of the Class C Common Measuring Date (or if a Common Member exercises its put option pursuant to the Bresnan Put Agreement, then the date of closing thereunder) and shall be interest-free, and (ii) the Tax Loan Amount due shall be reduced by the amount of income taxes paid by the Member attributable to its recognition of imputed income under the interest-free Tax Loan.
Interest Free Loan. Where the Subscription Proceeds are paid to the Issuer, the Issuer is entitled to treat such Subscription Proceeds as an interest free loan to the Issuer until such time as the Subscription is accepted and the certificates representing the Shares have been issued to the Subscriber.
Interest Free Loan. In March 1998, the Company loaned Executive the principal amount of $500,000, free of interest (the “Interest-Free Loan”). This loan is intended to qualify as a relocation loan under Section 7872 of the Internal Revenue Code and has been fully repaid as of the effective date of this Agreement.
Interest Free Loan. 7.3.1 You may be eligible for an interest-free loan if you are a New Zealand based borrower. Loan interest charged will still show on your statements but will be automatically written off at the end of the year. Inland Revenue will send you a confirmation of the write-off. You are not eligible for an interest-free loan if you are an overseas based borrower.
Interest Free Loan. 7.3.1 You may be eligible for an interest-free loan if you are in New Zealand for 183 or more consecutive days. Interest charged will still show on your statements but will be automatically written off at the end of the year. Inland Revenue will send you a confirmation of the write-off.
Interest Free Loan. Company has loaned Executive the principal ------------------ amount of $500,000, free of interest (the "Interest-Free Loan"). This loan is intended to qualify as a relocation loan under Section 7872 of the Internal Revenue Code. Except as provided in Section 4 of this Agreement, the Interest-Free Loan shall become: (y) due and payable in a single installment on the tenth (10th) anniversary of its making; and (z) interest-bearing in the event Executive ceases to be an employee of Company.
Interest Free Loan. Employee shall be entitled to an interest-free loan of up to $200,000 to be applied to a new home purchase, with the principal of such loan subject to repayment to be reduced by 50% on the second anniversary of the Effective Date, and the balance to be forgiven on the third anniversary of employment. Employee will execute a promissory note evidencing the loan substantially in the form of Exhibit B attached hereto.
Interest Free Loan. In view of the likelihood that the Executive may not sell his California home until after he has acquired a new home in the Nashville area, the Executive shall be entitled to an interest-free loan from the Company in an amount up to one million dollars ($1,000,000) for a period of two (2) years or until the Executive consummates the sale of his home in Los Angeles, whichever first occurs. Such loan will be made at the time the Executive purchases a home in the Nashville area and, if reasonably possible, will be structured so as to comply with the provisions of Treasury Regulation Section 1.7872-5T(b)(6). Such loan will be secured by a mortgage, deed of trust or other appropriate lien, on customary terms and provisions, on, at the Executive's option (i) the Nashville residence, (ii) the Executive's Los Angeles residence or (iii) other collateral reasonably acceptable to the Company, in favor of the Company.
Interest Free Loan. On the Effective Date, Company will make and fund an interest free loan to Brewery of US$100,000. The loan will be repaid to Company by Brewery by the Company reducing each invoice payment to Brewery by US$.37.5 per case invoiced until the loan is repaid in full. After eight months, Company will consider other terms if necessary at the request of Brewery. If Company defaults in the -11- performance of any of Company's obligations under this agreement, then Brewery shall be relieved of any obligations to repay the loan. If this Agreement is terminated by Brewery for any reason, the unpaid balance of the loan becomes immediately due and payable and if Brewery then fails to repay the loan balance within thirty (30) days, the unpaid balance shall bear interest at the rate of 1.5% per month until paid. Additionally, if Company is required to refer the loan to attorneys for collection, Brewery shall be responsible for all attorney's fees but no less than twenty percent (20%) of the amount sought to be collected.
