Loan Closing. The closing of the Construction Loan. Major Capital Event. One or more of the following: (i) sale of all or any part of, or any interest in, Company property (including the Project and the Property), exclusive of sales or other dispositions of tangible personal property in the ordinary course of business; (ii) placement and funding of any indebtedness of the Company secured by some or all of its assets with respect to borrowed money, excluding short term borrowing in the ordinary course of business; (iii) condemnation of all or any material part of, or any interest in, the Property through the exercise of the power of eminent domain; or (iv) any unrestored material loss of Company property or any part thereof or interest therein by casualty, failure of title or otherwise. Major Decision. As defined in Section 6.2(a).
Loan Closing. If the conditions precedent to the closing of the Loan are not complied with as of the Closing Date, Lender may terminate Lender’s obligation to fund the Loan by written notice to Borrower.
Loan Closing. The lender may require the borrower to pay no more than actual closing costs incurred in connection with the making, closing, disbursing or extending of a reverse mortgage loan. A reverse mortgage loan agreement or extension agreement may provide for deferral of payment of any portion of actual closing costs. Deferred closing costs shall be added to the outstanding loan balance as provided in subdivision 1, clause (e). Unless the agreement provides for deferral, actual closing costs shall be paid by the borrower at the time of signing the agreement. Upon signing a reverse mortgage loan agreement or extension agreement the lender shall furnish to the borrower:
Loan Closing. Subject to the terms and conditions of this Agreement, Xxxxxx agrees to close this Loan upon Xxxxxxxx’s satisfaction of the requirements set forth in this Section 2.1.2 and Section 3.1 below (collectively, Closing Conditions):
Loan Closing. The Loan shall be closed and become effective as follows:
Loan Closing. The first date on which all or any part of the proceeds of the Line of Credit Loan are initially disbursed by the Lender to or for the benefit of Borrower.
Loan Closing. All documents required by the provisions of the Loan Documents to be executed or delivered to the Administrative Agent on or before the Effective Date shall have been executed and shall have been delivered at the office of the Administrative Agent set forth in Section 11.2 on or before the Effective Date.
Loan Closing. All loans guaranteed by the Agency shall be closed by attorneys, escrow companies, escrow departments of lending institutions, or other persons, or entities skilled and experienced in conducting loan closings. The lender shall:
Loan Closing. (a) On such date and time as shall be agreed upon by the Lender and the Borrower (such date and time being herein referred to as the “Closing Date”), the Lender and the Borrower shall execute and deliver this Loan Agreement and the Lender and the Borrower, as applicable, shall execute and deliver the documents described in subsection (b) at the offices of Xxxxx Xxxx, A Professional Law Corporation (“Bond Counsel”), San Francisco, California, or such other location as may be mutually agreed upon by the Lender and the Borrower. The simultaneous delivery of such documents and funding of the Loan as provided in Section 3.01, is referred to herein as the “Loan Closing.”
Loan Closing. CPC shall perform the due diligence necessary to the determination of compliance with the commitment letter and readiness to close on awards made under this Program. As part of this process CPC shall draft or otherwise provide closing documents appropriate to accomplish the financing of loans of the type to be made under this Program. Included in these documents shall be 1) a Regulatory Agreement, which shall, at a minimum, include all necessary terms and conditions required for a CDBG-DR project, 2) promissory note; and 3) mortgage, all using a form to be approved by HTFC, and 4) a pro forma title insurance policy. Upon approval by HTFC, HTFC shall execute the necessary documents and CPC shall close the loan in question. For the avoidance of doubt, it is understood that CPC will have financed the full amount necessary to complete the construction of the awardee’s project in accordance with the commitment letter, including the portion thereof attributable to the award made under the Program, and that upon the conversion of such construction financing to its permanent terms HTFC shall become the permanent loan mortgagee (by assignment from CPC or otherwise) for that portion attributable to the award made under the Program.
