RIGHT TO BORROW Sample Clauses

RIGHT TO BORROW. The Insured may pledge or assign such Policy, subject to the terms and conditions of this Agreement, in order to secure a loan from the Insurer or from a third party, in an amount that shall not exceed such Policy's cash surrender value as of the most recent date on which the premiums have been paid, less the amount of the premiums on such Policy paid by the Company. Interest charges on such loan shall be the responsibility of and shall be paid by the Insured. For each Policy year in which the Insured borrows against such Policy, the Company shall be correspondingly relieved of its obligation to pay any amounts towards premiums for that particular Policy year.
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RIGHT TO BORROW. If the General Partner determines that funds are necessary to carry out the business of the Partnership, the General Partner may, subject to any restrictions set out in Schedule 1, borrow such funds on behalf of the Partnership from any person (the Lender) on such terms as the General Partner considers appropriate (any such arrangement, a Commitment Facility). In connection with any Commitment Facility, the General Partner may execute, deliver and perform any credit agreement, guarantee and/or related documentation on behalf of the Partnership.
Sample 1
RIGHT TO BORROW. Subject to the terms and conditions of this Agreement, at any time on or after January 31, 2017 (the "Commencement Date"), and before November 1, 2020, the Company shall have the right (the "Loan Right"), but not the obligation, to cause Lender to provide to the Company an amount equal to (i) One Million Three Hundred Fifty Thousand Dollars ($1,350,000.00), multiplied by (ii) a fraction, (y) the numerator of which is the number of shares of Common Stock acquired by Lender under the Subscription Agreement and (z) the denominator of which is the total number of shares of Common Stock sold in the offering contemplated by the Subscription Agreement (the "Loan Amount"). The Loan Amount is set forth on Schedule 1(a) attached hereto.
Sample 1
RIGHT TO BORROW. (a) The Trustees may pledge or assign any Policy, subject to the terms and conditions of this Agreement, in order to secure a loan from the Insurer or from a third party, in an amount which, except as provided in subparagraph 6.2(b), shall not exceed the Policy's cash surrender value (as defined in the Policy) as of the date on which the premiums have been paid, less the amount of the Corporation's Policy Interest. Interest charges on such loan shall be the responsibility of and shall be paid by the Trustees. For each Policy year in which the Trustees borrow against the Policy, the Corporation shall be correspondingly relieved of its obligation to pay any amounts towards premiums for a Policy year. (b) The limitation on the amount that the Trustees may borrow against the Policy hereunder shall be not apply to the extent that the amount borrowed is paid over to the Corporation to reduce its Policy Interest.
Sample 1
RIGHT TO BORROW. To borrow or raise monies for the purposes of --------------- the Trust Fund from anyone (other than a "party in interest" as defined in Section 3(14) of ERISA), including itself, in such amount, and upon such terms and conditions, as the Trustee in its discretion may deem advisable, and to secure the repayment thereof by pledging all, or any part of, the Trust Fund;
Sample 1
RIGHT TO BORROW. To borrow or raise monies for the purposes of the trust in such amount, and upon such terms and conditions, as the Trustees in absolute discretion may deem advisable; and, for any sums borrowed, to issue a promissory note as Trustees and to secure the repayment thereof by pledging all, or any part of, the Fund, provided, however, that if any borrowing is made against life insurance policies (other than such policies which are specifically allocated to participants in accordance with the terms of the Plan), the interests of all participants shall be adjusted to reflect such borrowing on a pro rata basis. No person lending money to the Trustees shall be bound to verify the application of the money lent or to inquire into the validity, expediency or propriety of any such borrowing.
Sample 1

Related to RIGHT TO BORROW

  • Notice to Borrower The Agent shall promptly notify the Borrower of the terms (x) of any Money Market Quote submitted by a Bank that is in accordance with subsection (d) and (y) of any Money Market Quote that amends, modifies or is otherwise inconsistent with a previous Money Market Quote submitted by such Bank with respect to the same Money Market Quote Request. Any such subsequent Money Market Quote shall be disregarded by the Agent unless such subsequent Money Market Quote is submitted solely to correct a manifest error in such former Money Market Quote. The Agent's notice to the Borrower shall specify (A) the aggregate principal amount of Money Market Loans for which offers have been received for each Interest Period specified in the related Money Market Quote Request, (B) the respective principal amounts and Money Market Margins or Money Market Absolute Rates, as the case may be, so offered and (C) if applicable, limitations on the aggregate principal amount of Money Market Loans for which offers in any single Money Market Quote may be accepted.

  • Authority to Borrow We authorize you to advance your own funds for our account, charging current interest rates, or to arrange loans for our account or the account of the Underwriters, as you may deem necessary or advisable for the purchase, carrying, sale and distribution of the Securities. You may execute and deliver any notes or other instruments required in connection therewith and may hold or pledge as security therefor all or any part of the Securities which we or such Underwriters have agreed to purchase. The obligations of the Underwriters under loans arranged on their behalf shall be several in proportion to their respective participations in such loans, and not joint. Any lender is authorized to accept your instructions as to the disposition of the proceeds of any such loans. You shall credit each Underwriter with the proceeds of any loans made for its account.

  • Disbursement to Borrower Borrower may request and receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.

  • Right to Prepay The Borrower shall have no right to prepay any principal amount of any Advance except as provided in this Section 2.07.

  • Single Disbursement to Borrower Borrower shall receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.

  • Commitment to Lend Subject to the terms and conditions set forth in this Credit Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrower and the Borrower may borrow, repay, and reborrow from time to time from the Funding Date up to but not including the Revolving Credit Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with §2.6, such sums as are requested by the Borrower up to a maximum aggregate amount outstanding (after giving effect to all amounts requested) at any one time equal to such Revolving Credit Lender’s Revolving Credit Commitment minus such Revolving Credit Lender’s Commitment Percentage of the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, provided that the sum of the outstanding aggregate amount of all Revolving Credit Loans (after giving effect to all amounts requested) plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total Revolving Credit Commitment at such time. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Commitment Percentage of the Total Revolving Credit Commitment. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that the conditions set forth in §12 and §13, in the case of the initial Revolving Credit Loans to be made on the Funding Date, and §13, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request.

  • Conditions to Borrowing The Bank will not be obligated to make (or continue to make) advances hereunder unless (i) the Bank has received executed originals of the Note and all other documents or agreements applicable to the loans described herein, including but not limited to the documents specified in Article III (collectively with this Agreement the “Loan Documents”), in form and content satisfactory to the Bank; (ii) if the loan is secured, the Bank has received confirmation satisfactory to it that the Bank has a properly perfected security interest, mortgage or lien, with the proper priority; (iii) the Bank has received certified copies of the Borrower’s governance documents and certification of entity status satisfactory to the Bank and all other relevant documents; (iv) the Bank has received a certified copy of a resolution or authorization in form and content satisfactory to the Bank authorizing the loan and all acts contemplated by this Agreement and all related documents, and confirmation of proper authorization of all guaranties and other acts of third parties contemplated hereunder; (v) if required by the Bank, the Bank has been provided with Opinion of the Borrower’s counsel in form and content satisfactory to the Bank confirming the matters outlined in Section 2.2 and such other matters as the Bank requests; (vi) no default exists under this Agreement or under any other Loan Documents, or under any other agreements by and between the Borrower and the Bank; and (vii) all proceedings taken in connection with the transactions contemplated by this Agreement (including any required environmental assessments), and all instruments, authorizations and other documents applicable thereto, are satisfactory to the Bank and its counsel.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Right to Opt Out If you do not wish to agree to arbitrate all Disputes in accordance with the terms and conditions of this section, you must advise us in writing at the following address by either hand delivery or a letter postmarked within thirty (30) days following the date you enter into this Agreement. You may opt-out without affecting your application or cardholder status.

  • NOTICE TO UTAH BORROWERS This written agreement is a final expression of the agreement between you and the Credit Union. This written agreement may not be contradicted by evidence of any oral agreement.

Most Referenced Clauses

Most Referenced Definitions