Real Estate Loans Sample Clauses

Real Estate Loans. Any indebtedness or obligations in respect of borrowed money backed principally by real estate, such as mortgage, mezzanine, bridge and other loans on Real Property and debt securities, such as collateralized mortgage backed securities and other debt securities.
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Real Estate Loans. For the purpose of this policy a real estate loan is defined as any loan whose purpose is to buy or hold/carry real estate with the loan being secured by the real estate. All real estate loans must conform to requirements of the regulatory agencies. UG should limit its risk to that which is commensurate with the return usually available to the insurance subsidiary as a lender. The yield on any loan should meet the insurance subsidiary profit expectations after allowing for the cost of funds, the risk factors and the cost of administration. The lending function has been a normal business risk. UG, however, will always strive to maintain a high quality portfolio and to do so will only accept that risk which can be adequately measured and meets the insurance subsidiaries credit standards.
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Real Estate Loans. The Parties acknowledge and agree that certain real estate loans entered into by the Borrower have been guaranteed by Mx. Xxxxxxxx, who is also the President of the Lender, pursuant to personal guaranties entered into by Mx. Xxxxxxxx, and that the Parties expect that Mx. Xxxxxxxx shall enter into personal guaranties for additional loans which the Borrower may incur (all such guaranties in effect at any time being collectively referred to as the “Cxxxxxxx Guaranties”). As consideration for the agreements of the Lender herein, following the Effective Date, Bxxxxxxx agrees to indemnify and reimburse Mx. Xxxxxxxx for all costs and expenses that may be incurred by Mx. Xxxxxxxx related to or arising from the Cxxxxxxx Guaranties. Mx. Xxxxxxxx is an intended third party beneficiary of this Agreement for purposes of this Section 2.10, and may enforce this Section 2.10 as though a party to this Agreement.
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Real Estate Loans. (a) NBD has extended a term loan to the Company in the original principal amount of $2,540,000 ("1995 Mortgage Loan"), evidenced by an Installment Business Loan Note in such amount, dated October 31, 1995 (together with any amendments, restatements, replacements or renewals, the "1995 Term Note"). In connection with the 1995 Mortgage Loan, the Company granted to NBD a mortgage (the "1995 Mortgage") on the property commonly known as 24750 Xxxxxxxxx Xxxxx, Xxxxxxxxxx Xxxxx, Xxxxxxxx, xxich the Company acknowledges secures the 1995 Term Note, the other Obligations of the Borrowers under this Agreement and any other amounts owed by the Company to NBD. (b) NBD has extended a term loan to the Company in the principal amount of $2,500,000 ("1993 Mortgage Loan"), evidenced by a Term Note, dated June 29, 1993 (together with any amendments, restatements, replacements or renewals, the "1993 Term Note"). In connection with the 1993 Mortgage Loan, the Company granted to NBD a mortgage (the "1993 Mortgage") on the property commonly known as 38700 Xxxxx Xxxxx, Xxxxxxxxxx Xxxxx, Xxxxxxxx, xxich the Company acknowledges secures the 1993 Term Note, the other Obligations of the Borrowers under this Agreement and any other amounts owed by the Company to NBD.
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Real Estate Loans. (a) During the period of time beginning on the date that a Successful Syndication occurs (the "Real Estate Loan Availability Date"), and ending on the first anniversary of the Real Estate Loan Availability Date, subject to and upon the terms and conditions set forth herein, each Lender severally (and not jointly) agrees to fund its Pro Rata Share of Real Estate Loans to Borrowers (or Borrower Agent for their benefit) from time to time in amounts requested by Borrowers (or Borrower Agent on their behalf) up to, in the aggregate for all such loans at any time requested, the Real Estate Subline. The Real Estate Loans made hereunder shall be evidenced by the Real Estate Notes. (b) Borrowers may prepay at any time, at their option and without payment of any premium or penalty, in whole or in part, the Real Estate Loans, provided that: (i) on each such prepayment, Borrowers shall pay all accrued interest on the principal so prepaid to the date of such prepayment and (ii) to the extent prepaid, Real Estate Loans may not be re-borrowed under this Section 2.3 and the Real Estate Subline shall be permanently reduced by the amount of any such prepayment(s). (c) The Real Estate Loans and all interest accrued with respect thereto, to the extent not prepaid, shall be due and payable in full on the earlier to occur of (i) the date that is eighteen months after the Real Estate Loan Availability Date (on which date the Real Estate Subline shall be permanently reduced to zero) or (ii) the effective date of any termination of this Agreement, whether terminated by Agent and the Lenders or by Borrowers.
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Real Estate Loans. (i) the Oklahoma Real Estate Loans and (ii) the loans from Lender to Rush and/or wholly owned subsidiary of Rush designated by Rush to finance the acquisition, construction and refinancing of certain real estate and improvements thereon; provided, however, the term "Real Estate Loans" shall not include any loans secured by real property located in California. It is acknowledged that (A) GMAC shall have no obligation to make loans to Rush or any member of the Rush Group and (B) neither Rush nor any member of the Rush Group shall have any obligation to borrow from GMAC.
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Real Estate Loans. Borrower shall (a) use commercially reasonable efforts to cause each Real Estate Loan Document which constitutes chattel paper or an instrument to have only one (1) original counterpart and (b) ensure that each Real Estate Loan Document is in form that is in compliance with all applicable material state and federal laws.
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Real Estate Loans. On November 30, 2016, we transferred $50 million of real estate loans from held for investment to held for sale. In connection with the December 2016 Real Estate Loan Sale, we sold a portfolio of first and second lien mortgage loans with a carrying value of $58 million and recorded a net loss in other revenues of less than $1 million. On June 30, 2016, we transferred $257 million of real estate loans from held for investment to held for sale. In connection with the August 2016 Real Estate Loan Sale, we sold a portfolio of second lien mortgage loans with a carrying value of $250 million and recorded a net loss in other revenues of $4 million. We did not have any other material transfer activity to or from finance receivables held for sale during 2017, 2016 or 2015. 84
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Related to Real Estate Loans

  • Existing Loans Schedule 2.3(j) lists, as of the date hereof, all (i) secured loans encumbering the Properties or any direct or indirect interest in the applicable Contributed Entity and (ii) any other indebtedness of any Contributed Entity or subsidiary (collectively, the “Disclosed Loans”) and the outstanding aggregate principal balance as of the date set forth on Schedule 2.3(j). To the Knowledge of Contributor, no monetary default (beyond applicable notice and cure periods) by any party exists under any of the Disclosed Loans and the documents entered into in connection therewith (collectively, the “Disclosed Loan Documents”) and no non-monetary default (beyond applicable notice and cure periods) by any party exists under any of the Disclosed Loan Documents.

  • Acquisition Loans The proceeds of the Acquisition Loans may be used only for the following purposes: (i) for working capital and general corporate purposes, including, without limitation, the issuance of Letters of Credit and to pay outstanding Floor Plan Loans; and (ii) to make Permitted Acquisitions.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Existing Loan Seller represents and warrants to Buyer that the Existing Loan is the only indebtedness secured by the Property and that the information contained on Exhibit H is true, correct and complete in all material respects. To Seller’s Knowledge, neither Seller nor any guarantor is in default or breach of any provisions of the documents evidencing the Existing Loan and, to Seller’s Knowledge, no event or circumstance has occurred or exists which but for the passage of time would be a default under the Existing Loan. At Closing, Buyer shall accept the conveyance of the Property subject to the Existing Loan, including, without limitation, all liens securing its payment. If this Contract is still pending, by no later than fifteen (15) days after the Effective Date, Seller shall cause Existing Lender to deliver to Buyer (or for Seller to deliver to Buyer) a complete assumption and application, and thereafter Buyer shall, at its sole cost and expense, during the pendency of this Contract use diligent, commercially reasonable efforts, in cooperation with Seller, to facilitate Buyer’s assumption of the Existing Loan, including, without limitation, promptly furnishing and/or paying for all items required by the holder of the Existing Loan or its servicer to process Buyer’s application and pay all costs required by the holder of the Existing Loan or its servicer (such costs and all other costs and expenses of the holder of the Existing Loan or its servicer to consider, investigate, process, approve and document the transaction contemplated by this Contract, including all application, underwriting, legal, rating agency and assumption fees, being sometimes collectively referred to as the “Assumption Costs”); provided, however, in no event shall the Assumption Costs include any legal fees of Seller’s own counsel or legal fees of Existing Lender’s counsel necessitated by Seller’s negotiation of the Assumption Documents or necessitated by Seller’s pursuit of an exchange contemplated by Section 16.14 hereof. In addition, any assumption fee based solely on the amount of the Existing Loan need not be paid until Closing. Such efforts by Buyer shall include causing Buyer’s rights under this Contract to be assigned by no later than Closing to a single purpose entity or other special purpose entity as required by the holder of the Existing Loan or its servicer and causing an appropriate guarantor (“New Guarantor”) to become a guarantor of any non-recourse carveouts and environmental indemnitees of the Existing Loan in place and stead of the principals of Seller from and after the Closing Date. If the Assumption Documents require that Buyer or New Guarantor give representations or warranties to Existing Lender with respect to matters affecting the Property prior to Closing, Seller and such principals of Seller currently liable therefor shall indemnify, defend and hold harmless Buyer and New Guarantor from all claims from Existing Lender and all damages, costs and expenses owed to Existing Lender as a result of a breach thereof, provided that the representations and warranties so made are limited to reasonable matters affecting the Property prior to Closing. Except as expressly provided in this Section 4.4, Buyer, and not Seller, shall be responsible for all costs, fees and expenses incurred or payable as a result of the Assumption Costs and complying with the requirements of the Existing Loan for an assumption, and Buyer hereby agrees to indemnify, defend and hold harmless Seller from all of said costs, fees and expenses. Buyer’s foregoing indemnity regarding the Assumption Costs shall survive Closing and any termination of this Contract. The liens, assignments and security interests of the Existing Loan shall each be Permitted Exceptions (as shall be the Assumption Document to be executed at Closing).

  • Loans, Advances and Investments Neither the Seller nor any Restricted Subsidiary shall make any loan (other than Mortgage Loans), advance, or capital contribution to, or investment in (including any investment in any Restricted Subsidiary, joint venture or partnership), or purchase or otherwise acquire any of the capital stock, securities, ownership interests, or evidences of indebtedness of, any Person (collectively, “Investment”), or otherwise acquire any interest in, or control of, another Person, except for the following: (a) Cash Equivalents; (b) Any acquisition of securities or evidences of indebtedness of others when acquired by the Seller in settlement of accounts receivable or other debts arising in the ordinary course of its business, so long as the aggregate amount of any such securities or evidences of indebtedness is not material to the business or condition (financial or otherwise) of the Seller; (c) Mortgage Notes acquired in the ordinary course of the Seller’s business; (d) Investment in any existing Affiliate or any Subsidiary (including Investments by the Seller in CH Funding, LLC, a Delaware limited liability company) or JV; provided that (i) at the time any such investment is made and immediately thereafter, the Seller and the Restricted Subsidiaries are in compliance with all covenants set forth in the Repurchase Documents and no Default or Event of Default shall have occurred and be continuing and (ii) the aggregate outstanding amount of all such Investments shall not exceed $10,000,000 at any time; (e) Loans to officers or employees in an aggregate amount not to exceed $300,000; and (f) Investments in companies in the business of originating and servicing mortgage loans so long as such Investment is a direct equity investment and so long as such Investment does not cause a breach of any other covenant (affirmative or negative) hereunder.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Loans 3.1. On each Loan Subscription Date, not later than the time specified by Xxxxxx (such time to be posted to the TALF Website in advance of such Loan Subscription Date), each TALF Agent may submit to Lender, in the manner specified by Xxxxxx from time to time, a request for Loans on behalf of each Applicable Borrower proposing to borrow Loans on the next scheduled Loan Closing Date (each such request, a “Loan Request”). Each TALF Agent shall complete the Loan Request in accordance with instructions provided by Custodian from time to time, in the form attached hereto as Appendix 3A or, in the case of a Loan to be secured by CMBS Collateral, Appendix 3B. Lender shall promptly provide Custodian with the information contained in each such Loan Request. Notwithstanding the foregoing, a TALF Agent shall not be permitted to submit a Loan Request unless (x) it has previously delivered to Custodian a copy of the Letter of Agreement pursuant to which it became a party hereto and (y) in the case of a Loan to be secured by Newly Issued CMBS Collateral and with respect to each such Item of Newly Issued CMBS Collateral, the following documents shall have been delivered to Lender and Custodian at or before the stated times: (1) not later than 5:00 p.m. on the eighth Business Day before the applicable Loan Subscription Date, the Offering Materials (as defined below) (which may be in preliminary form to the extent Offering Materials in final form are not then available), (2) not later than 5:00 p.m. on the sixth Business Day prior to the applicable Loan Subscription Date, an AUP Report (TALF) and an AUP Report (Industry) relating to such Offering Materials and (3) not later than the Business Day after any supplement to such Offering Materials is furnished to prospective investors, each such supplement, together with an AUP Report (TALF) and an update to the earlier AUP Report (Industry); provided, that each such supplement and related AUP Report (TALF) and update to AUP Report (Industry) shall be delivered not later than 5:00

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • Disbursement of Loan Proceeds (a) The Trustee, as the agent of the Trust, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the Trust, in a form meeting the requirements of Section 5.02(3) of the Bond Resolution. (b) The Trust and Trustee shall not be required to disburse any Loan proceeds to the Borrower under this Loan Agreement, unless: (i) the proceeds of the Trust Bonds shall be available for disbursement, as determined solely by the Trust; (ii) in accordance with the Bond Act, and the Regulations, the Borrower shall have timely applied for, shall have been awarded and, prior to or simultaneously with the Loan Closing, shall have closed a Fund Loan for a portion of the Allowable Costs (as defined in such Regulations) of the Project in an amount not in excess of the amount of Allowable Costs of the Project financed by the Loan from the Trust; (iii) the Borrower shall have on hand moneys to pay for the greater of (A) that portion of the total Costs of the Project that is not eligible to be funded from the Fund Loan or the Loan, or (B) that portion of the total Costs of the Project that exceeds the actual amounts of the loan commitments made by the State and the Trust, respectively, for the Fund Loan and the Loan; and (iv) no Event of Default nor any event that, with the passage of time or service of notice or both, would constitute an Event of Default shall have occurred and be continuing hereunder.

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