Loan Terms. The Loan will be evidenced by the Note and will bear interest and be paid in accordance with the payment terms set forth in the Note.
Loan Terms. The Lender agrees to lend the Borrower under the following terms:
a. Principal Amount: $
b. Interest Rate: % compounded per: (check one) ☐ - Month ☐ - Annum ☐ - Other:
c. Borrower to Receive the Borrowed Money on: , 20 Hereinafter known as the “Borrowed Money.”
Loan Terms. 2.1 The term for such Loan will be ten (10) years, calculated from the date when the Borrower actually draws the Loan. The term under this Agreement shall be automatically extended for another ten years except when the written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement.
2.2 The Borrower hereby agrees and warrants that such Loan provided by the Lender shall be used only for the investment in Qianjun. Without the Lender’s prior written consent, the Borrower shall not transfer or pledge its equity interest hereunder to any other third party.
2.3 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except upon the Lender’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by him from transferring all of the Borrower’s equity in Qianjun to Lender or to any other third party designated by the Lender. In case the funds received by the borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of such Borrower’s equity in Qianjun is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded as repaid.
2.4 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs:
2.4.1 The Borrower dies or becomes a person with no or limited capacity for civil rights;
2.4.2 Xxxxxx Xxxx (the current legal representative of the Lender) quits or is dismissed from the Lender or the Lender’s affiliated corporations;
2.4.3 The Borrower commits crime or is involved in crime;
2.4.4 Any third party claims debt of the Borrower exceeding RMB 1,000,000 (RMB one million) which the Borrower is not able to repay;
2.4.5 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC law; or
2.4.6 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.
Loan Terms. 2.1 The term for such Loan will be ten (10) years from the execution date of this Agreement. The term under this Agreement shall be automatically extended for successive ten year periods unless written notice to the contrary is given by the Lender three months prior to the expiration of this Agreement.
2.2 The Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the Loan in advance except for Lender’s requirement or the expiration of this Agreement. The Borrower shall repay the Loan only in the following way and amount: the Borrower shall repay the Loan only by using all the funds obtained by the Borrower from transferring the entire Borrower’s equity in Shanghai Quan Toodou to Lender or to any other third party designated by the Lender. In case the funds received by the Borrower from transferring the aforesaid equity is subject to any tax or administrative expenses, the Borrower shall only be obliged to repay the net portion of such funds (after deducting any applicable tax and expenses) to the Lender. When all of the Borrower’ equity in Shanghai Quan Toodou is transferred as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower, all the outstanding Loans hereunder shall be regarded as repaid.
2.3 The Lender and the Borrower agree and confirm that the Borrower shall immediately repay the Loan in advance in case any one of the following occurs:
2.3.1 The Borrower dies or becomes a person with no or limited capacity for civil rights;
2.3.2 The Borrower commits a crime or is involved in crime;
2.3.3 Any third party claims debt of the Borrower exceeding RMB1,000,000 (RMB one million) which the Borrower is not able to repay;
2.3.4 There are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business or online audiovisual streaming business under PRC law; or
2.3.5 In the event that the Lender issues a written notice to the Borrower for repayment of the Loan.
Loan Terms. Subject to Section 1.1 above, the Principal Amount shall be transferred to the Company (or to any service provider of the Company on behalf of the Company, as instructed by the Company) by the Lender, in US Dollars or NIS, at the discretion of the Lender, at the exchange rate in effect on the date of the transfer of funds, by means of wire transfer in accordance with the wire instructions to be provided to the Lender by the Company. The Principal Amount shall be used for funding the Company’s operations.
Loan Terms. Subject to the terms and conditions of this Loan Agreement and the other Loan Documents, the Lender agrees to make the Loan to the Borrower in the principal sum of the Loan Amount, such borrowing to be evidenced by the Note and the other Loan Documents.
Loan Terms. The Loan will be evidenced by the Note and will bear interest and be paid in accordance with the payment terms set forth in the Note and the Credit Agreement.
3. Section 2.02 is amended and restated to read as follows:
Loan Terms. You may have only one loan outstanding at any time. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of: • 50% of the Contract Value; or • $50,000 less the highest outstanding Contract Debt during the 12-month period immediately preceding the effective date of the loan. You should refer to the terms of your particular Qualified Plan for any additional loan restrictions. If you have other loans outstanding pursuant to other Qualified Plans, the amount you may borrow may be further restricted. We are not responsible for making any determinations (including loan amounts permitted) or any interpretations with respect to your Qualified Plan. Loan Interest Rate – You will be charged interest on the Contract Debt at an annual rate equal to 5%. Interest charged will accrue daily beginning on the day the loan is effective.
Loan Terms. 1. Lender shall lend One Hundred Fifteen Thousand dollars ($115,000.00) to the Borrower to be used solely to promote rural economic development as more particularly described in the Application Materials. The term of the loan will be 10 years, with 10 equal annual payments of $12,802.55 commencing July 15, 2017, and the final installment due on or before July 15, 2026 (the “Loan”).
2. The Loan will be continuously secured by a Deed of Trust on Real Estate as described in the attached Exhibit A to the lender.
3. Lender shall advance the proceeds of the Loan to the Borrower in a single lump sum of $115,000.00, subject to submission by Borrower to Lender of evidence that the project is proceeding and expenditure of funds in the amount of the requested advance.
4. The Borrower shall repay the Loan in accordance with the note (as hereinafter defined) to be executed by the Borrower and made payable to Lender. The Borrower shall begin to repay the Loan on the date set forth in the Note and shall continue paying without interruption until all indebtedness associated with the Loan has been repaid in full on or before the final maturity date of the Note.
5. The Loan will bear an interest rate of two percent (2%) and indebtedness not paid when due will be subject to late charges, costs, and other charges as provided in the Note.
6. If the Borrower fails to satisfy all conditions, requirements, and terms prerequisite to the advance of the proceeds of the Loan from the Lender as set forth in this agreement on or before July 15, 2016 or such later date as the Lender may approve in writing in furtherance of the purposes of the Act, Regulations, and Rural Development Plan, the Loan commitment shall be considered rescinded.
7. The Borrower will be responsible to reimburse Lender for its costs and expenses related to this transaction, and to obtain and pay for any and all appraisals, surveys, inspections, reports, title insurance, bank fees, etc related to the Project as may be required by Lender.
Loan Terms. 16 Section 2.1 The Loan.................................................................................
