No Loan Clause Samples
The "No Loan" clause establishes that the agreement does not create a loan relationship between the parties. In practice, this means that any funds, goods, or services exchanged under the contract are not to be interpreted as a loan, and the recipient is not considered a borrower with repayment obligations typical of a loan. This clause is essential for clarifying the nature of the transaction, preventing misunderstandings or legal disputes about whether a loan has been made, and ensuring that neither party is subject to regulatory or financial obligations associated with lending.
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No Loan the Buyer does not obtain a loan from a financial institution, all payments except the handover payment must be cleared within 45 days of the use permit issuance. Failure to pay allows the Seller to refuse ownership transfer.
No Loan. The Chargor warrants that at the time of execution of this Contract, there is no loan provided by or borrowring to the Chargor or all of its affiliated companies, and the Chargor and the Company undertake that the Chargor, the Company and all of their affiliated companies will not provide any third party with loans or obtain any borrowring from any third party in the future without the prior written consent of the Chargee.
No Loan. The Syndication Parties shall have no obligation to make any Loan if a Potential Default or an Event of Default shall occur and be continuing.
No Loan. The Lenders shall have no obligation to make any Loan if a Potential Default or an Event of Default shall occur and be continuing.
No Loan or Loans to a single Borrower (including Affiliates of a Borrower) are for an amount in excess of $4,000,000; and
No Loan. Grantor has not borrowed or received any other debt financing that has not been heretofore repaid in full, except to the extent provided in Schedule 7 of the Closing Certificate.
No Loan. The Syndication Parties shall have no obligation to make any Loan if a12.2 Potential Default or an Event of Default shall occur and be continuing. Rights and Remedies. In addition to the remedies set forth in Section 12.1
No Loan. Landlord represents that the Project is not currently subject to any ground lease or to the lien of any mortgage or deed of trust.
No Loan. Landlord represents that there is currently no deed of trust encumbering the Project or any portion thereof.