Loan Amount and Purpose Clause Samples
The 'Loan Amount and Purpose' clause defines the total sum of money being lent and specifies the intended use of those funds. Typically, this clause will state the exact dollar amount of the loan and outline whether the money is to be used for purposes such as purchasing real estate, funding business operations, or consolidating debt. By clearly stating both the amount and the purpose, this clause ensures that both parties understand the financial scope of the agreement and helps prevent misuse of the loaned funds.
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Loan Amount and Purpose. Subject to the terms and conditions of this Agreement, the Lender agrees to lend to the Borrower such amounts as the Borrower may from time to time request prior to June 1, 1999, but not to exceed principal advances in the aggregate amount of Five Million Dollars ($5,000,000.
Loan Amount and Purpose. Subject to the terms and conditions set forth in this Agreement, the Bank agrees to advance up to FOUR MILLION DOLLARS ($4,000,000) (the “Loan”) which Loan shall be secured by a mortgage on the real property located at 50 Enterprise Center, Middletown, Rhode Island (the “Property”).
Loan Amount and Purpose. Lender will make a loan to Borrower in the principal amount of TWELVE MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($12,500,000.00) (the “Loan”) to be used to refinance a mortgage loan with another lender. The Loan will be available in one disbursement at the closing of the Loan, unless otherwise provided in this Agreement.
Loan Amount and Purpose. The Term Loan amount shall be Four Million Five Hundred Thousand Dollars ($4,500,000) which amount is the unpaid principal balance of the Borrower's note dated July 28, 1999.
Loan Amount and Purpose. The Lender agrees to loan the Borrower the principal sum of Fifty-Three Thousand Eight Hundred Thirty-One Dollars ($53,831) (the “Loan”). The Loan proceeds shall be used solely for the purpose of: · Acquiring office equipment; and · Funding the purchase of long-term investments related to the Company’s operations.
Loan Amount and Purpose. On the basis of the representations, warranties and covenants of Borrower contained herein and subject to the terms and conditions set forth herein and in the other Loan Documents, on the Effective Date, ▇▇▇▇▇▇ agrees to lend to Borrower, and ▇▇▇▇▇▇▇▇ agrees to borrow from Lender, $6,646,000.00, which shall be disbursed in full on the date hereof and used to make the CDE Investment and pay certain fees and expenses.
Loan Amount and Purpose. Party A shall provide a loan of Nine Hundred Forty-One Million Two Hundred Ten Thousand Four Hundred Ten Yuan and Seventy Cents (¥94,012,410.70) to Party B (hereinafter referred to as the “Loan”), for the establishment of a marine food vocational training school, which includes training of offshore fishery seafarers, nearshore aquaculture, water product supply chain management, water product branding, hotel and catering management, and other professional talent development.
Loan Amount and Purpose. The Lender agrees to loan to the Borrower the principal amount of USD (hereinafter referred to as the "Loan Amount") for the purpose of .
Loan Amount and Purpose. The Lender agrees to loan the Borrower the amount of Two Hundred Fifty Thousand Dollars ($250,000.00) ("Loan") for the purpose of remodeling a newly purchased police department facility, as described in Exhibit A, attached to this Agreement. ● Property ID: 27483 ● Legal Acreage: 1.853 acres ● GEO ID: 3000-03000-22002 ● Legal Description: CITY OF LA VERNIA, LOT 220B & 257, ACRES 1.853 ● Situs Address: ▇▇▇▇ ▇▇ ▇▇▇, ▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ● Owner: The City of La Vernia
Loan Amount and Purpose. Subject to the terms and conditions set forth in this Agreement, the Bank agrees to advance up to Nine Hundred Twenty Thousand and 00/100 Dollars ($920,000.00) (the “Bridge Loan”) to be used by the Borrower to finance a portion of the cost of purchasing the real property located at ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ (the “Property”). The Bridge Loan will be repaid with the proceeds of debentures (the “Debentures”) guaranteed by the U.S. Small Business Administration (“SBA”) pursuant to a Section 504 Authorization for Debenture Guaranty issued by the SBA on April 1, 2010 (the “SBA Loan Authorization”). The balance of the long term financing required in connection with the purchase of the Property is being provided by the Bank with a real estate loan (the “Real Estate Loan”) under the terms of a Real Estate Loan Agreement (the “Real Estate Loan Agreement”) dated as of the same date as this Agreement.