Common use of Loan Rate Factor Clause in Contracts

Loan Rate Factor. The Basic Loan Payment is conditional upon Lender acquiring the Collateral at the Collateral Cost indicated above. Lender and Borrower agree that the Basic Loan Payment described herein is based on a Loan Rate Factor of 2.944% which equates to $29.44 for each full $1,000 of Collateral Cost and that the Basic Loan Payment shall be adjusted upwards or downwards by such Loan Rate Factor to the extent by which the actual purchase price paid by Lender for the Collateral (“Actual Cost”) is greater or lesser than the Collateral Cost indicated above, and thereafter, the Actual Cost shall be the Collateral Cost. Lender and Borrower further agree that the Basic Loan Payment and Loan Rate Factor described herein may be adjusted in accordance with the provisions of Section 4(a) of the Loan Agreement

Loan Rate Factor. The Basic Loan Payment is conditional upon Lender acquiring financing the Collateral at the Collateral Cost indicated above. Lender and Borrower agree that the Basic Loan Payment described herein is based on a Loan Rate Factor of 2.9442.7196% which equates to $29.44 27.196 for each full $1,000 of Collateral Cost and that the Basic Loan Payment shall be adjusted upwards or downwards by such Loan Rate Factor to the extent by which the actual purchase price paid financed by Lender for the Collateral (“Actual Cost”) is greater or lesser than the Collateral Cost indicated above, and thereafter, the Actual Cost shall be the Collateral Cost. Lender and Borrower further agree that the Basic Loan Payment and Loan Rate Factor described herein may be adjusted in accordance with the provisions of Section 4(a) of the Loan AgreementLoan.