Loan Requirements Clause Samples
Loan Requirements. A loan made to a family purchasing a home con- structed or substantially rehabilitated under the program:
(1) Must be secured by a second ▇▇▇▇- ▇▇▇▇ held by HUD on the property in- volved;
(2) May not exceed $15,000;
(3) May not bear interest;
(4) Is repayable to HUD upon the sale, lease, or other transfer of the property; except, as an alternative, the nonprofit organization may elect to provide the Homeowner Incentive under § 280.55(c) for subsequent sale or transfer of the property (the Home- owner Incentive is not available upon the lease of the property).
(5) Must be applied by the family to the purchase price of the home.
(6) May not be used by the family to provide the downpayment required under § 280.45.
(7) Is subject to such other terms and conditions as HUD may require.
Loan Requirements. On or after the first contract anniversary, you may borrow from us on the contract. All these conditions must be met:
Loan Requirements. If and to the extent the insurance requirements with respect to a Property Owner set forth in the Loan Documents evidencing or securing the Loan (or any other loan obtained by Owner or a Property Owner secured by one or more Properties) exceed the requirements set forth in this Section 12, the more stringent requirements set forth in such loan documents shall govern.
Loan Requirements. A loan pursuant to Section 7.3 shall not be made to a Member unless such loan meets all of the following requirements:
Loan Requirements. A loan shall not be made to a Participant pursuant to Section 1 unless such loan meets all of the following requirements:
Loan Requirements. After the first anniversary, you may borrow from us on the
Loan Requirements. This Mortgage is in consideration of a loan from Lender to Borrower in the amount of ($ ) (the “Loan”), as evidenced by the Note, for the purchase of the Property. The Loan has been made to Borrower through ▇▇▇▇▇▇'s NextDown Program and can be made to Borrower only if Borrower agrees to the requirements set forth herein. In consideration of the Loan and of the mutual covenants and understandings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, ▇▇▇▇▇▇ and Borrower agree as follows:
Loan Requirements. Recipient hereby represents and warrants to EDA that it is a locally owned and operated for-profit restaurant with a commercial (non-home-based) establishment in the City of Prior Lake which has been operating since March 13, 2020 and that one of the following is true and correct:
a) Recipient is a full-service restaurant which relies primarily on the service of lunch and/or dinner to customers in its interior dining room without access to a drive-thru or take-out window and held on March 13, 2020 and continues to hold an on-sale intoxicating liquor license; or,
b) Recipient is a full-service restaurant serving breakfast, lunch and dinner where the majority of customers are served and consume food in its interior dining room without access to a drive-thru or take-out window.
Loan Requirements. The local Scout council, supported by a local amateur radio club with a designated control operator, will need to do the following: • Complete an application (see page 3). • Sign the loan agreement (see page 4). • Submit the application and loan agreement to ▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ with a copy to ▇▇▇.▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇ • Upon approval, you will need to provide UPS or FedEx shipping account numbers so shipment can be arranged from the station’s current location to the local council. Those costs can be expected to range from $20 to $50 via UPS Ground, depending on the distance to be shipped. UPS advises us to use “freight collect” with the receiving council’s account number. • Maintain the equipment in a secure location and ensure active use by the local Scouting program. • At the end of the loan, pack up all equipment and ship it to the location specified for either the next loan location or to Icom America for repair/refurbishment.
Loan Requirements. Loans to Participants shall be made on such terms and conditions as the Employer may determine in its sole discretion, provided that loans shall:
(a) Be available to all Participants on a reasonably equivalent basis;
(b) Other than by operation of the limitations contained in Section 10.2, not be made available to Highly Compensated Employees in an amount greater than the amount made available to other Employees;
(c) Bear a reasonable rate of interest;
(d) Provide for level amortization over its term with payments at quarterly or more frequent intervals, as determined by the Employer;
(e) Provide for repayment in full on or before the earlier of (i) the date when the Participant ceases to be an Employee or (ii) the date five (5) years after the loan is made. Notwithstanding the foregoing, if the loan is used to acquire a dwelling unit that, within a reasonable period of time, is to be used as the principal residence of the Participant, the loan must be repaid by the date five (5) years after the loan is made, or, effective January 1, 2001, ten (10) years, as approved by the Committee, after the loan is made; and