Repayment of Line of Credit. The entire principal amount of each individual Advance under the Line of Credit, and all fees and interest accrued thereon, shall be payable, on the earlier of:
Repayment of Line of Credit. The entire principal amount of each individual Advance under the Line of Credit, and all fees and interest accrued thereon, shall be payable, on the earlier of:
(1) One hundred and twenty (120) days from the Advance Date for each draw under the Credit Facility;
(2) The earliest date on which a Collateral Loan becomes past due for sixty (60) days or more; provided, however, that Borrower may cure such deficiency by delivering a substitute Eligible Note and Commercial/ Church Loan as Collateral for the benefit of Credit Union within ten ( 10) days after receiving written notice of such deficiency;
(3) The date the Borrower assigns, sells, transfers, conveys, or commences foreclosure upon an Eligible Note or Commercial/Church Loan held as Collateral for the Credit Facility , or
(4) Termination of this Agreement.
Repayment of Line of Credit. Subject to the terms and conditions of this Letter Agreement, Borrower may borrow, repay and reborrow under the Line of Credit until the Expiration Date, on which date the outstanding principal balance and any accrued but unpaid interest shall be due and payable.
Repayment of Line of Credit. Unless repayment is demanded sooner by Bank or is otherwise due sooner pursuant to the terms of ARTICLE VII, Borrower shall make payment in full of the entire outstanding principal amount of the Line of Credit Note and all accrued and unpaid interest thereon on the Maturity Date.
Repayment of Line of Credit. 2.1 ¨ Daily Repayment of Principal/Monthly Payment of Interest. If this box is checked, the aggregate amount of Automated Sweep Advances outstanding under the Line of Credit shall be automatically debited from the Account and repaid on a daily basis, provided that there are available funds in the Account and subject to any applicable Target Balance. Interest due on Automated Sweep Advances outstanding under the Line of Credit shall be automatically debited from the Account and repaid from available funds in the Account on the day of each month specified for the payment of interest in the Loan Documents (“Interest Payment Date”), subject to any applicable Target Balance. Any available funds in the Account on the Interest Payment Date shall be used to satisfy the monthly interest payment first, with any excess to be applied to principal as set forth above. Partial repayments will continue as funds become available until repayment is made in full. If there are insufficient funds available in the Account to cover the payment of amounts due for interest on the outstanding principal in accordance with the payment schedule set forth above, an Automated Sweep Advance under the Line of Credit shall automatically occur to fund such payment to the extent that there is availability under the Line of Credit. x Daily Repayment of Principal and Daily Payment of Interest. If this box is checked, the aggregate amount of Automated Sweep Advances outstanding under the Line of Credit, plus accrued interest or other amounts due to the Bank, shall be automatically debited from the Account and repaid on a daily basis, provided that there are available funds in the Account and subject to any applicable Target Balance. If the funds available in the Account are less than the amount necessary to repay the aggregate amount of Automated Sweep Advances due to the Bank under the Line of Credit, a partial repayment shall be debited from available funds in the Account, subject to any applicable Target Balance. Partial repayments will continue as funds become available until repayment is made in full. If there are insufficient funds available in the Account to cover the payment of amounts due for interest on the outstanding principal in accordance with the payment schedule set forth above, an Automated Sweep Advance under the Line of Credit shall automatically occur to fund such payment to the extent that there is availability under the Line of Credit.
2.2 The Line of Credit is considered ...
Repayment of Line of Credit. Unless sooner due in accordance with the terms of this Agreement or Bank has extended the Term Loan as contemplated herein, the Borrower hereby promises to pay in full on the Expiration Date, the aggregate unpaid principal amount of all Advances and then outstanding, together with all accrued and unpaid interest thereon. Bank agrees to lend to Borrower on the Expiration Date an amount equal to the outstanding amount of all Advances (the "Term Loan") provided no ---------- Event of Default has occurred or is continuing on the Expiration Date, and provided such Term Loan is to be evidenced by and subject to a promissory note to be in form and content safisfactory to Bank and executed by Borrower. Interest shall accrue and be payable on the terms set forth in the promissory note. The proceeds of Term Loan shall be used solely to repay such Advances.
Repayment of Line of Credit. The entire principal outstanding under the Line of Credit, and all fees and interest accrued thereon, shall be payable, on the earlier of:
(1) The earliest date on which a Collateral Loan becomes past due for sixty (60) days or more; provided, however, that Borrower may cure such deficiency by delivering a substitute Eligible Note and Commercial/ Church Loan as Collateral or cash monies for the benefit of Credit Union within ten (10) days after receiving written notice of such deficiency;
(2) The date the Borrower assigns, sells, transfers, conveys, or commences foreclosure upon an Eligible Note or Commercial/Church Loan held as Collateral for the Credit Facility , or
(3) Termination of this Agreement.
Repayment of Line of Credit. The entire principal amount of each individual Advance under the Line of Credit, and all fees and interest accrued thereon, shall be payable, on the earlier of:
2.6.1 Forty-Five (45) days from the Funding Date of the Eligible Mortgage Loan, or
Repayment of Line of Credit. The entire principal amount of each individual Advance under the Line of Credit, and all fees and interest accrued thereon, shall be payable, on the earlier of:
2.6.1 Forty-five (45) days from the Funding Date of the Eligible Mortgage Loan, or
3.1.1. The Purchase Date for the Eligible Mortgage Loan(s), or
3.1.2. The earliest date on which the Eligible Mortgage Loan becomes past due 60 days or more, or
3.1.3. The date the Borrower assigns, sells, transfers, conveys, or commences foreclosure upon the Eligible Mortgage Loan closed or acquired with respect thereto, or
Repayment of Line of Credit. 2.1 ¨ Daily Repayment of Principal/Monthly Payment of Interest. If this box is checked, the aggregate amount of Automated Sweep Advances outstanding under the Line of Credit shall be automatically debited from the Account and repaid on a daily basis, provided that there are available funds in the Account and subject to any applicable Target Balance. Interest due on Automated Sweep Advances outstanding under the Line of Credit shall be automatically debited from the Account and repaid from available funds in the Account on the day of each month specified for the payment of interest in the Loan Documents (“Interest Payment Date”), subject to any applicable Target Balance. Any available funds in the Account on the Interest Payment Date shall be used to satisfy the monthly interest payment first, with any excess to be applied to principal as set forth above. Partial repayments will continue as funds become available until repayment is made in full. If there are insufficient funds available in the Account to cover the payment of amounts due for interest on the outstanding principal in accordance with the payment schedule set forth above, an Automated Sweep Advance under the Line of Credit shall automatically occur to fund such payment to the extent that there is availability under the Line of Credit.
