We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Loan Limitations Sample Clauses

Loan LimitationsBuyer may purchase the Property using any of the following types of loans: 134 Conventional FHA VA Bond Other .
Loan LimitationsBuyer may purchase the Property using any of the following types of loans: 129 Conventional Other .
Loan Limitations. Note: the separate loan program required by the DOL will override any inconsistent selections made below. (complete only if loans to Participants are permitted) a. [ ] N/A. No loan limitations selected below. b. [ ] Limitations (select all that apply): 1. [ ] Loans will be treated as Participant directed investments.
Loan LimitationsBuyer may purchase the Property using any of the following types of loans: 171 Conventional FHA VA Bond Other . 172 If either or both of the FHA or VA boxes are checked, and Buyer closes the transaction using one of those loan types, Seller agrees 173 to pay those closing costs and fees that Buyer is not allowed by law to pay not to exceed $ .
Loan LimitationsBuyer may purchase the Property using any of the following types of loan: □ Conventional □ FHA 161 □ VA □ Bond □ Other .
Loan Limitations. (complete only if loans to Participants are permitted; leave blank if none apply) a. [X] Limitations (select one or more): 1. [X] Loans will be treated as Participant directed investments. 2. [ ] Loans will only be made for hardship or financial necessity as specified below (select a. or b.) a. [ ] hardship reasons specified in Plan Section 6.12 b. [ ] financial necessity (as defined in the loan program). 3. [X] The minimum loan will be $ 1,000 . 4. [X] A Participant may only have one (1) (e.g., one (1)) loan(s) outstanding at any time. 5. [ ] All outstanding loan balances will become due and payable in their entirety upon the occurrence of a distributable event (other than satisfaction of the conditions for an in-service distribution (including a hardship distribution), if applicable). 6. [ ] The home loan term will be years. (if not selected, the Administrator establishes the term for repayment of a home loan) 7. [ ] Account restrictions. Loans will only be permitted from the following Participant Accounts (select all that apply or leave blank if no limitations apply): a. [ ] Account(s) attributable to Employer matching contributions b. [ ] Account attributable to Employer contributions other than matching contributions c. [ ] Rollover Account d. [ ] Transfer Account e. [ ] Other: f. [ ] by determining the limits by only considering the restricted accounts. g. [ ] by determining the limits taking into account a Participant's entire interest in the Plan. b. [X] Loan payments. Loans are repaid by (if left blank, then payroll deduction applies unless Participant is not subject to payroll (e.g., partner who only has a draw)): 1. [ ] payroll deduction 2. [X] ACH (Automated Clearing House) 3. [ ] check a. [ ] Only for prepayment c. [X] Interest rate. Loans will be granted at the following interest rate (if left blank, then 3. below applies): 1. [X] .5 percentage points over the prime interest rate 2. [ ] %
Loan Limitations. Loans acquired by UG under this agreement shall be limited to and comply with the Ohio Revised Code section 3907.14 Investment of capital, surplus, and accumulations.
Loan Limitations. Note: the separate loan program required by the DOL will override any inconsistent selections made below. (complete only if loans to Participants are permitted) a. [ ] N/A. No loan limitations selected below. b. [ ] Limitations (select one or more): 1. [ ] Loans will only be made for hardship or financial necessity (as defined in the loan program). 2. [ ] The minimum loan will be $ (may not exceed $1,000). 3. [ ] A Participant may only have (e.g., one (1)) loan(s) outstanding at any time. 4. [ ] All outstanding loan balances will become due and payable in their entirety upon the occurrence of a distributable event (other than satisfaction of the conditions for an in-service distribution, if applicable). 5. [ ] Loans are repaid by (if left blank, then payroll deduction applies): a. [ ] payroll deduction b. [ ] ACH (Automated Clearing House) c. [ ] check 1. [ ] checks may be used for any payment 6. [ ] Loans will be granted at the following interest rate (if left blank, then c. below applies): a. [ ] % over the prime interest rate b. [ ] % c. [ ] the Plan Administrator establishes the rate in a nondiscriminatory manner B. Rollover Limitations. Will the Plan accept rollover contributions and/or direct rollovers of distributions from the sources specified below? a. [ ] No. b. [ ] Yes.
Loan Limitations. A Participant loan may not be made to the extent such loan (when added to the outstanding balance of all other loans made to the Participant) exceeds the lesser of: (a) $50,000 (reduced by the excess, if any, of the Participant’s highest outstanding balance of loans from the Plan during the one-year period ending on the day before the date on which such loan is made, over the Participant’s outstanding balance of loans from the Plan as of the date such loan is made) or (b) one-half (1/2) of the Participant’s vested Account Balance, determined as of the Valuation Date coinciding with or immediately preceding such loan, adjusted for any contributions or distributions made since such Valuation Date. A Participant may not receive a Participant loan of less than $1,000 nor may a Participant have more than one Participant loan outstanding at any time. A Participant may renegotiate a loan without violating the one outstanding loan requirement to the extent such renegotiated loan is a new loan (i.e., the renegotiated loan separately satisfies the reasonable interest rate requirement under Section 14.4, the adequate security requirement under Section 14.5, and the periodic repayment requirement under Section 14.6). and the renegotiated loan does not exceed the limitations under (a) or (b) above, treating both the replaced loan and the renegotiated loan as outstanding at the same time. However, if the term of the renegotiated loan does not end later than the original term of the replaced loan, the replaced loan may be ignored in applying the limitations under (a) and (b) above. In applying the limitations under this Section, all plans maintained by the Employer are aggregated and treated as a single plan. In addition, any assignment or pledge of any portion of the Participant’s interest in the Plan and any loan, pledge, or assignment with respect to any insurance contract purchased under the Plan will be treated as loan under this Section. A separate written loan policy or written modifications to this loan policy may (1) modify the limitations on the amount of a Participant loan; (2) modify or eliminate the minimum loan amount requirement; (3) permit a Participant to have more than one loan outstanding at a time; (4) prescribe limitations on the purposes for which loans may be required; or (5) prescribe rules for reamortization, consolidation, renegotiation, or refinancing of loans.
Loan Limitations. 1. The Borrower shall restrict development to the Real Property and any off-site easements or construction as may be necessary to develop the Lots in accordance with the Purpose. 2. The Borrower shall demonstrate at closing to the satisfaction of the Lender, that it shall have invested a minimum of $3,000,000.00 equity into the Project (collectively, the "Borrower's Equity"). Two million dollars ($2,000,000) of the Borrower's Equity shall be demonstrated to be in the land at closing, and one million dollars ($1,000,000) shall be allocated by the Borrowerto fund marketing/administration and other miscellaneous costs incurred in the initial phase of development at the Project, and the Lender shall not be required to fund any advance under the Loan for such purpose. 3. As each section or phase of the Project receives final site plan approval from the County (the "Approved Section"), the Lender shall disburse development costs to the Borrower in connection therewith, subject to the terms of this Development Agreement. On a case-by-case basis, however, if the Borrower requests additional development disbursements with respect to a section of the Project that has not received final site plan approval, the Lender, in its reasonable discretion, may disburse funds to the Borrower for the development of sections or phases that: (i) have received preliminary site plan approval, and (ii) are within sixty (60) days of receiving final site plan approval from all necessary government departments, as determined by the Borrower's engineers. 4. So long as: (i) the Borrower is not in default hereunder, (ii) the Borrower complies with the terms of the Deed of Trust, and (iii) the Borrower has paid to the Lender such other amounts as may be due the Lender under the Deed of Trust and in connection with all amounts advanced and remaining outstanding under the construction portion of the Loan in connection with the Lot to be released, the Lender shall permit a Lot to be released from the lien of the Deed of Trust, upon payment to the Lender of the following amounts (herein referred to collectively, as the "Partial Release Payment"): (a) $75,000.00 per lot for each single family lot (b) $55,000.00 per lot for each carriage home lot (c) $45,000.00 per lot for each 20' wide town house lot (d) $50,000.00 per lot for each 22' wide town house lot 5. The Borrower must have a binding commitment for development bonding prior to the date hereof, and said bonds for the Approved Section must...