Terms of Loan. (a) The General Partner may, but need not, advance monies from time to time to the Partnership to meet any necessary cash requirements of the Partnership including, but not limited to, operating expenses of the Partnership or the payment of principal and interest required under any note. The aggregate amount of such advances to the Partnership shall become an obligation of the Partnership to the General Partner and shall be payable out of the gross income of the Partnership together with simple interest on a monthly basis at a rate equal to the Xxxxxx Bank and Trust Company of Chicago’s prime rate in effect from time-to-time plus one percent (1%) per annum (the “Loan Rate”). All such loans from the General Partner, and all repayments of such loans to the General Partner, shall be in cash and not in promissory notes, other property or services. The repayment of such loan shall be at a time, in the discretion of the General Partner, that there is sufficient cash flow from the operation of the Partnership to permit such repayment without impairing the solvency of the Partnership, provided that any such unpaid advances shall become immediately due and payable upon termination and dissolution of the Partnership. Notwithstanding the foregoing, no payment of interest on any such loan from the General Partner shall be paid by the Partnership if and while payments of First Tier Distributions as defined and provided for in Section 15.2 below are not current, and no repayment of principal shall be made to the General Partner for any such loan if and while payments of First Tier Distributions or Second Tier Distributions as defined and provided for in Section 15.2 below are not current. If and to the extent that there is sufficient cash flow as required above to repay such advances, such repayment to the General Partner shall be made on or before the fifteenth day after the end of each quarter.
Terms of Loan. All loans shall bear a reasonable rate of interest as determined by the Administrator based on the prevailing interest rates charged by persons in the business of lending money for loans which would be made under similar circumstances. The determination of a reasonable rate of interest must be based on appropriate regional factors unless the Plan is administered on a national basis in which case the Administrator may establish a uniform reasonable rate of interest applicable to all regions. All loans shall by their terms require that repayment (principal and interest) be amortized in level payments, not less than quarterly, over a period not extending beyond five years from the date of the loan unless such loan is for the purchase of a Participant's primary residence, in which case the repayment period may not extend beyond ten years from the date of the loan. A Participant may prepay the outstanding loan balance prior to maturity without penalty.
Terms of Loan. (a) Repayment term, interest rate(s) and maturity.
Terms of Loan. 1.1 Upon request of Borrower, Lender's Agent may, from time to time, in its discretion and on behalf of the Lenders, lend Securities to Borrower against the receipt of Collateral delivered by Borrower. Lender's Agent and Borrower shall agree on the terms of each Loan, including the identity and amount of the securities to be loaned, the basis of compensation, and the type and amount of Collateral to be delivered by Borrower (subject to the terms and conditions of this Agreement), which terms may be amended during the period of the Loan only by mutual agreement of the parties hereto.
Terms of Loan. In addition to repayment of all principal and interest, Borrower will give to Lender as additional consideration the following: (a) 1,000 shares of Weststar Environmental, Inc., stock subject to normal restrictions of Rule 44 under the Securities Act; (b) 1,667 warrants to purchase 1,667 share of common stock in Weststar Environmental, Inc., at a purchase price of 140% of the I.P.O. price; and (c) the payment of a $3,333.00 fee upon the closing of the I.P.O. transaction.
Terms of Loan. 1.1 Pleckgate High School will issue an iPad to all students upon compliance with the following: • Completion of Parent iPad Intro Training Session • Completion of Acceptable Use Policy • Submission of signed Student/Parent iPad Agreement Legal title to the property (iPad) is with Pleckgate High School. The school allows the student to loan the iPad subject to full and complete compliance with the following school policies: • Acceptable Use Policy • Other Guidelines as outlined in the Student/Parent Handbook. The school reserves the right to terminate the loan period at its discretion.
Terms of Loan. Littleton Public Schools will issue a Device to students upon compliance with the following:
Terms of Loan. The Loan shall not accrue interest and shall be repaid upon the closing of the De-SPAC.
Terms of Loan. All loans shall bear a reasonable rate of interest as determined by the Administrator based on the prevailing interest rates charged by persons in the business of lending money for loans which would be made under similar circumstances. The determination of a reasonable rate of interest must be based on appropriate regional factors unless the Plan is administered on a national basis in which case the Administrator may establish a uniform reasonable rate of interest applicable to all regions.
Terms of Loan. 1. Calhan School District will issue an iPad to students upon compliance with the following:
