ORIGINAL LOAN Clause Samples
The 'Original Loan' clause defines the specific loan agreement or amount that serves as the basis for the contract. It typically identifies the principal sum, the date of the original loan, and the parties involved, ensuring that all references to the loan within the agreement are clear and unambiguous. By precisely specifying the original loan, this clause helps prevent confusion or disputes about which financial arrangement is being referenced, thereby ensuring clarity and consistency throughout the contract.
ORIGINAL LOAN. 27 OTS..........................................................................................................27 OUTSTANDING..................................................................................................27
ORIGINAL LOAN. The mortgage loan refinanced in connection with the origination of a Refinance Loan. The Office of Thrift Supervision.
ORIGINAL LOAN. 15 OTS..............................................................................................................
ORIGINAL LOAN. (i) Effective as of the Closing Date, the Original Credit Agreement and the Original Notes are hereby amended and restated in full by this Agreement and the Notes and all Advances outstanding under the Original Credit Agreement shall be deemed Advances outstanding under this Agreement. On the Closing Date, the Original Notes shall be canceled and promptly thereafter returned to Borrower. Without limiting the generality of the foregoing, effective as of the Closing Date, the commitment to disburse the undisbursed portion of the Original Loan shall automatically terminate, and Borrower acknowledges and agrees that, effective as of the Closing Date, no Original Lender (or any Lender) shall have any further obligation to Borrower under the Original Credit Agreement or the Original Notes. Effective as of the Closing Date, all references in any Loan Document to the "Credit Agreement", the "Loan Agreement", the "Loan Documents" and to any Loan Document shall mean this Agreement, the Loan Documents and such Loan Document, respectively, as modified and amended by this Agreement.
(ii) On February 16, 2000, certain of the Lenders shall purchase, and certain of the Lenders shall sell, to one another, the percentage interest in the Commitment as reflected in Schedule 2.1(e) hereto, in order to reallocate the Carryover Principal Balance under the Notes among the Lenders to correspond to the Pro Rata Shares of the Lenders specified in Schedule 1.1 hereto. The applicable purchase price payments are specified in Schedule 2.1(e) hereto and are referred to herein as the "Adjusting Purchase Payments". The Adjusting Purchase Payments shall be made to the Agent by the applicable purchasing Lender by Federal Reserve wire transfer initiated by the payor no later than 8:00 a.m. California time on February 16, 2000. Upon receipt of all such payments, the Agent shall promptly send appropriate portions thereof to the selling Lenders by Federal Reserve wire transfer. The parties to this Agreement acknowledge that the Adjusting Purchase Payments do not include interest, which Borrower is obligated pursuant to the terms of Section 6.20 to pay through and including February 16, 2000. The parties to this Agreement acknowledge and agree that, for purposes of making the calculations and the Adjusting Purchase Payments set forth in Schedule 2.1(e), Bank One, NA shall be deemed to have acquired, immediately prior to the Closing Date, all of the rights, title, interest and obligations of Bank ...
ORIGINAL LOAN. Lender agrees to amend and restate, on the Closing Date, the Original Note in the amount of Five Hundred Thousand Dollars ($500,000) (the "Original Loan"), provided all conditions precedent set forth in Section 7 are satisfied or waived. Amounts borrowed under this
ORIGINAL LOAN. The Borrower and the Lender entered into a loan agreement as set in clause 1.
ORIGINAL LOAN. Agreement
ORIGINAL LOAN. The mortgage loan refinanced in connection with the origination of a Refinance Loan. $66,453,545.05. The Office of Thrift Supervision.
ORIGINAL LOAN