Reduction of Loan Sample Clauses

Reduction of Loan. Effective on the Maturity Date, the Payment Amount shall be reduced to the extent provided by the following formulae:
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Reduction of Loan. Notwithstanding anything to the contrary contained herein, LHC may reduce the principal amounts of the Indebtedness in the event the Cost Certification Audit or the final subsidy layering analysis of the Project completed by LHC disclose that the actual Construction Costs incurred by Borrower were less than the estimated Construction Costs upon which the calculation of the principal amount of the Loan was based. The principal amount of the Loan may be reduced based on the actual Construction Costs incurred by Borrower and the final amount, terms and conditions of the Borrower’s other sources of financing, if any. If the amount of the Loan proceeds advanced to Borrower prior to completion of the Cost Certification Audit and final subsidy layering analysis exceeds the principal amount of the Loan supported by the Cost Certification Audit and final subsidy layering analysis (“Excess Proceeds”), Borrower shall pay LHC the amount of any Excess Proceeds in one lump sum payment within thirty (30) days of receiving written notice from LHC that the Excess Proceeds are due and payable. LHC reserves the right to reopen the subsidy layering review in the event additional sources are received for construction or development of the Project.
Sample 1
Reduction of Loan. Clause 2.1 of the Agreement is hereby amended to reduce the maximum aggregate principal amount of the Facility from Twenty-Five Million U.S. Dollars (US$25,000,000) to Fifteen Million U.S. Dollars (US$15,000,000).
Sample 1
Reduction of Loan. Notwithstanding anything contained in this Loan Agreement or any other Loan Document to the contrary, effective June 2, 2009 the availability under the Loan shall decrease to Eighty Five Million Dollars and No/100 ($85,000,000.00) and if the outstanding balance of the Loan exceeds Eighty Five Million Dollars and No/100 ($85,000,000.00) on June 2, 2009 the Borrower shall immediately pay down the Loan so that the outstanding balance does not exceed Eighty Five Million Dollars and No/100 ($85,000,000.00). (Signatures on Next Page)
Sample 1
Reduction of Loan. Notwithstanding anything to the contrary contained herein, LHC may reduce the principal amounts of the Indebtedness in the event the Cost Certification Audit or the final subsidy layering analysis of the Project completed by LHC disclose that the actual Total Development Costs incurred by Borrower were less than the estimated Total Development Costs upon which the calculation of the principal amount of the Loan was based. The principal amount of the Loan may be reduced based on the actual Total Development Costs incurred by Xxxxxxxx, the amount of any tax credits awarded to the Project, if any, the amount of any bond proceeds, if any, and the final amount, terms and conditions of the Borrower’s other sources of financing, if any. If the amount of the Loan proceeds advanced to Borrower prior to completion of the Cost Certification Audit and final subsidy layering analysis exceeds the principal amount of the Loan supported by the Cost Certification Audit and final subsidy layering analysis ("Excess Proceeds"), Borrower shall pay LHC the amount of any Excess Proceeds in one lump sum payment within thirty (30) days of receiving written notice from LHC that the Excess Proceeds are due and payable. LHC reserves the right to reopen the subsidy layering review in the event additional sources are received for construction or development of the Project.
Sample 1

Related to Reduction of Loan

  • Termination of Loans In addition to BTC’s authority to terminate a loan of Securities pursuant to the terms of the applicable Securities Lending Agreement as described in Section 2.4 above, BTC shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Lending Agreement promptly:

  • Acceleration of Loan On the service of a notice under paragraph (a)(ii) of Clause 19.2, the Loan, all accrued interest and all other amounts accrued or owing from the Borrower or any Security Party under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand.

  • Reduction of Commitment Prepayment of Loans Section 2.05 of the Financing Agreement is hereby amended as follows:

  • Acceleration of Loans Declare the unpaid principal of and any accrued interest in respect of all Loans, any reimbursement obligations arising from drawings under Letters of Credit and any and all other indebtedness or obligations of any and every kind owing by a Credit Party to any of the Lenders hereunder to be due whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Credit Parties.

  • Type of Loan Credit Card

  • Advance of Loan (a) The Facility Agent must promptly notify each Lender of the details of the requested Loan and the amount of its share in that Loan.

  • 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).

  • Application of Voluntary Prepayments by Type of Loans Any prepayment of any Loan pursuant to Section 2.10(a) shall be applied as specified by the Borrower in the applicable notice of prepayment.

  • Procedure for Revolving Advances Borrowing (a) Borrowing Agent on behalf of any Borrower may notify Agent prior to 12:00 p.m. on a Business Day of a Borrower’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

  • Prepayment of Loan So long as ECOLOGY shall hold this loan, the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount . Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest, the RECIPIENT shall first contact ECOLOGY’s Revenue/Receivable Manager of the Fiscal Office.

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