State Loan Sample Clauses

State Loan. On the terms and conditions of this Loan Agreement and Financing Approval Documents, the Director shall lend to the Company the State Loan Amount to assist in the financing of the Project. The State Loan shall be evidenced by this Loan Agreement and the Note and secured by the Security Documents and other Loan Documents, as applicable. Those instruments and documents shall be executed by the Company and all other parties, as applicable and delivered by the Company to the Director on the Closing Date, concurrently with the execution and delivery of this Loan Agreement and the delivery of all other documents and the satisfaction of all other closing conditions required by this Loan Agreement and the Commitment. The State Loan shall be disbursed by the State to the Company upon the satisfaction of the conditions set forth in Section 3.6 hereof and in accordance with Section 3.7. hereof. The State Loan shall be disbursed by the State to Company only from, and only to the extent that, on the applicable Disbursement Date funds not heretofore committed are available to make the Loan from moneys in, the “Facilities Establishment Fund” created by the Act and as defined in the Act. The terms of repayment of the State Loan shall be as set forth in the Note and the Company shall make all payments required to be made under the Note as and when due.
Sample 1
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State Loan. On the terms and conditions of this Agreement, the Director shall lend to the Borrower the State Loan Amount to assist in the financing of a portion of the Allowable Costs. The State Loan shall be evidenced and secured by the Loan Documents, including, but not limited to, the State Loan Note. The State Loan shall be disbursed upon the satisfaction of the conditions set forth in Section 3.4 hereof. The State Loan shall be disbursed only from, and only to the extent that on the Disbursement Date funds not theretofore committed are available to make the State Loan from moneys in the Facilities Establishment Fund. The terms of repayment of the State Loan shall be as set forth in the State Loan Note, and the Borrower shall make all payments required to be made on the State Loan Payment Schedule attached to the State Loan Note as and when due; provided, however, that such amounts are payable solely from the Rent and any other amounts derived by the Borrower from the lease, sale or other disposition of the Project, and from any other collateral that may from time to time be assigned to the Director to secure payment thereof, and are an obligation of the Borrower only to the extent of such moneys and any such collateral. The Borrower authorizes the Director to deliver the State Loan Payment Schedule following the Disbursement Date and to attach such State Loan Payment Schedule to this Agreement and the State Loan Note.
Sample 1

Related to State Loan

  • Base Rate Loan The appropriate Borrower or Borrowers shall pay interest on the unpaid principal amount of a Base Rate Loan outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Base Rate Loan shall be payable, commencing June 30, 2013, and continuing on each Regularly Scheduled Payment Date thereafter and at the maturity thereof.

  • 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).

  • Revolving Loan The Borrower shall repay to the Lenders in full on the date specified in clause (a) of the definition of “Revolving Termination Date” the aggregate principal amount of the Revolving Loans and Swing Loans outstanding on the Revolving Termination Date.

  • Prime Rate Loans During such periods as the Term Loan shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the Prime Rate; and

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Bid Rate Loans The Borrower shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, each Bid Rate Loan on the last day of the Interest Period of such Bid Rate Loan.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • Eurocurrency Rate Loans Except as otherwise provided herein, a Eurocurrency Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurocurrency Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurocurrency Rate Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the outstanding Eurocurrency Rate Loans denominated in Dollars be converted immediately to Base Rate Loans and any or all of the then outstanding Eurocurrency Rate Loans denominated in an Alternative Currency be prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect thereto.

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