Real Estate Loan. Subject to the terms and conditions set forth herein, TD Banknorth, N.A. severally agrees to make the Real Estate Loan to S&W Corp. in the original principal amount of the Real Estate Loan Commitment. The Real Estate Loan shall bear interest at the rate per annum equal to six and eighty-five one hundredths of one percent (6.85%) until paid in full. Interest shall be computed on the basis of a 360 day year and for the actual number of days elapsed.
Real Estate Loan. 4.1. Subject to the terms and conditions hereof, including, without limitation, Section 6, Fidelity agrees to make a loan to the Company in an amount equal to the Real Estate Loan Amount. The Company hereby agrees to repay to Fidelity the Real Estate Loan, together with interest thereon, in the manner provided herein. The principal owing hereunder in respect of the Real Estate Loan at any given time shall equal the Real Estate Loan Amount minus all principal payments on the Real Estate Loan received by Fidelity hereunder.
Real Estate Loan. 6.01 The terms, provisions and conditions hereof having been fulfilled, no DEFAULT or EVENT OF DEFAULT having occurred and the provisions of Section 2.08(a) having been fulfilled, and those in Sections 2.08(b) and 2.08(c) having been represented by the BORROWER to have been fulfilled, the BANK made the REAL ESTATE LOAN to BORROWER in accordance with the terms, provisions and conditions set forth below.
Real Estate Loan a. Obligors acknowledge that FAS executed and delivered documents in connection with a real estate loan secured by the Real Estate under a Loan Agreement and other documents which are presently held by Lender under an Assignment of Notes, Mortgages and Other Loan Documents, recorded on January 5, 1996 in O.R. Book 2665, Page 2918, of the Public Records of Lee County, Florida. Obligors acknowledge that FAS is the sole borrowxx under the Real Estate Loan. In consideration of the establishment of the Revolving Credit Loan and the adjustment of the interest rate on the Real Estate Loan, Concept, Distribution and Media have executed absolute, unconditional and continuing Guaranties of all Indebtedness of FAS. Obligors acknowledge that they have no offsets or defenses to the Real Estate Loan or any of the Loan Documents associated with the Real Estate Loan
Real Estate Loan. Borrower hereby represents and warrants that ---------------- on December 28, 2000, Bank made the Real Estate Loan to Borrower in the principal amount of $8,125,000.00 for the purposes set forth in the Construction Loan Agreement. The obligation of Borrower to repay the Real Estate Loan is currently evidenced by the Real Estate Note, upon which there is currently owing a principal balance of $7,752,604 as of the Effective Date of this Agreement. Borrower represents and warrants that such unpaid amount is unconditionally owed by Borrower to Bank without offset, defense or counterclaim of any kind, nature or description whatsoever. The outstanding principal balance of the Real Estate Loan bears interest and is payable as set forth in the Real Estate Loan Documents. Section 4.2.
Real Estate Loan. Subject to the terms and conditions hereof, Banks severally agree to lend to X.Xxx and X.Xxx agrees to borrow from Banks, the proceeds of the Real Estate Loan, from time to time in accordance with the terms hereof until the Initial Real Estate Maturity Date, for the purpose of developing and constructing the Project; provided, however, no Bank shall be obligated to make any Advances on the Real Estate Loan if, after giving effect to such Advances on the Real Estate Loan, the sum of such Bank’s Pro Rata Share of the aggregate Advances on the Real Estate Loan then outstanding would exceed such Bank’s Individual Real Estate Commitment. Each borrowing under the Real Estate Loan shall consist of Advances on the Real Estate Loan made on the same day ratably by each Bank in accordance with its Percentage, and each Bank’s Advances made on the Real Estate Loan on such day shall bear interest at the Construction Phase Loan Rate, computed on each Advance on the Real Estate Loan from the date it is made by Banks. All Advances on the Real Estate Loan made by a Bank shall be evidenced also by a Construction Note in the amount of such Bank’s Individual Real Estate Commitment. Unless the Conversion of the Real Estate Loan is successfully made pursuant to the terms and conditions of Section 1.2, the entire principal balance of the Real Estate Loan shall mature and be payable in full, together with all Obligations with respect to the Real Estate Loan, at the Initial Real Estate Maturity Date, or such earlier date upon acceleration of the Real Estate Loan. At the option of Borrowers, the Initial Real Estate Maturity Date may be extended for up to three (3) additional months if the following conditions are satisfied: (a) Borrowers give written notice of their request for the extension to Administrative Bank by no earlier than one hundred twenty (120) days and by no later than forty-five (45) days prior to the Initial Real Estate Maturity Date; (b) as of the date of request and on the Initial Real Estate Maturity Date there exists no Default or Event of Default; and (c) the execution and delivery by Borrowers to Administrative Bank on or before the Initial Real Estate Maturity Date such documentation as Administrative Bank may reasonably require to evidence the extension in the form and substance reasonably acceptable to Administrative Bank. The extension of the Initial Real Estate Maturity Date shall not extend the Real Estate Term Maturity Date. Each Bank shall enter in its ...
Real Estate Loan. THOUSAND EIGHT HUNDRED TWENTY SEVEN AND 14/100 DOLLARS ($1,109,827.14), the proceeds of which will be used to renew and extend the amounts left owing and unpaid on that certain Promissory Note dated June 30, 1994, as previously extended and modified in the stated principal amount of $1,375,385.38 (the "Real Estate Loan"). The Real Estate Loan made by Bank under this Section 2.01(a) shall be evidenced by a promissory note (the "Real Estate Note") of even date herewith. The Real Estate Note shall be repayable as follows;
Real Estate Loan. The duly executed Real Estate Note made payable to the order of Bank described in Section 2.01(a).
Real Estate Loan. Pursuant to the Original Credit Agreement, the Lender made the Original Real Estate Loan. As of the date hereof, the outstanding balance of the Original Real Estate Loan is $2,651,649.61. The Lender hereby agrees to make a real estate term loan in the original principal amount equal to $4,700,000 less the outstanding balance as of the date hereof of the Original Real Estate Loan. The amount of the real estate term loan described in the immediately preceding sentence, together with the outstanding balance as of the date hereof of the Original Real Estate Loan is referred to herein as the "Real Estate Loan". The Real Estate Loan shall be secured by the Collateral and by the Real Estate, as provided in Article III hereof and pursuant to the Mortgage. Upon fulfillment of the applicable conditions set forth in Article IV hereof, the Lender shall disburse loan proceeds by crediting the same to the Borrower's demand deposit account specified in Section 2.1(b) hereof unless the Lender and the Borrower shall agree in writing to another manner of disbursement.
Real Estate Loan. 6.01 Subject to the terms, provisions and conditions hereof and provided that no DEFAULT or EVENT OF DEFAULT shall have occurred, the BANK agrees to make the REAL ESTATE LOAN to BORROWER in accordance with the terms, provisions and conditions set forth below.
