Common use of Loan by the City Clause in Contracts

Loan by the City. Subject to the terms and conditions provided in this Agreement and in the Loan Documents, and all applicable laws and regulations, the City agrees to make the Loan to the Borrower and the Borrower agrees to borrow up to Four Hundred Forty Seven Thousand Eight Hundred Six Dollars ($447,806) at zero percent (0%) interest, for a term of twenty (20) years, as specified in the Note.

Loan by the City. Subject to the terms and conditions provided in this Agreement and in the Loan Documents, and all applicable laws and regulations, the City agrees to make the Loan to the Borrower and the Borrower agrees to borrow up to Four Six Hundred Forty Seven Thousand Eight Hundred Six Dollars ($447,806600,000) at zero percent (0%) interest, for a term of twenty not less than (2040) years, as specified in the Note.