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Terms of Loans Sample Clauses

Terms of LoansSection 2.1 Loans 27 Section 2.2 Borrowings of Loans 28 Section 2.3 Repayment of Loans; Evidence of Indebtedness 28 Section 2.4 Optional Prepayment 29 Section 2.5 Mandatory Prepayment 30 Section 2.6 Interest Rate 31 Section 2.7 Maximum Interest Rate 32 Section 2.8 Inability to Determine Interest Rate 32 Section 2.9 Fees 34 Section 2.10 Payments 34 Section 2.11 Illegality 35 Section 2.12 Break Funding Payments 35 Section 2.13 Increased Costs 35 Section 2.14 Taxes 37 Section 2.15 Scheduled Availability Period; Reduction of Committed Loan Limit 41 Section 2.16 Agent’s Clawback 42 Section 3.1 Financial Condition 42 Section 3.2 No Material Adverse Effect 43 Section 3.3 Existence and Power; Investment Company 43 Section 3.4 Organizational Power; Authorization; Enforceable Obligations 44 Section 3.5 No Legal Bar 44 Section 3.6 No Material Litigation 44 Section 3.7 Compliance 45
Terms of Loans. Any Participant or Beneficiary who is a "party in --------------- interest" as to the Plan, as defined in Section 3(14) of ERISA, may borrow from the Plan as provided in this Section 6. (References to Participants in this Section shall include Beneficiaries). Loans shall not be made available to highly compensated employees (as defined in section 414(q) of the Code) in an amount greater than the amount made available to other employees. The minimum amount that may be borrowed is $1,000, and higher amounts may be borrowed in multiples of $500. The maximum amount that may be borrowed is the lesser of (i) $50,000 (reduced by the highest outstanding loan balance of that Participant for the prior 12 months) and (ii) 50 per cent of the Participant's vested Plan Benefit. The period of repayment for any loan shall be five (5) years. A Participant may prepay a loan in a lump sum on any date more than three (3) months after the loan is made. Each loan shall be secured by the Participant's Plan Benefit. For the purposes of determining the portion of a Participant's Plan Benefit that is distributable by withdrawal or otherwise, and the portion of a Participant's Accounts that are subject to the allocation of earnings, appreciation, or depreciation, the amount of a loan will be deducted from the Participant's accounts in the following order: (i) the Special Employee Contributions Account (if any), (ii) the Employee-Elected Company Contributions Account, (iii) the vested portion of the Company Contributions Account when the loan is made. A partial deduction to an account will be allocated according to the Participant's then current investment election. Each loan shall bear interest at the Fixed Income Fund rate at the time the loan is made or other reasonable rate of interest determined by UDLP at the time the loan is made. SECTION 6(b)
Terms of LoansEach Lender has made a Loan in the principal amount set forth in Schedule 2.1 under the Existing Credit Agreement. Such Loans shall continue to remain outstanding under the terms and conditions of this Agreement. Any amount of such Loans repaid may not be reborrowed.
Terms of Loans. 18 (a) Limitations on Loans.......................... 19 (c) Loan Procedures............................... 19 (d)
Terms of Loans. 2 6. Guarantees. . . . . . . . . . . . . . . . . . . . . . . . . . . .3 7.
Terms of Loans. Each Loan shall be evidenced by a note which shall be due 12 months after the making of each such Loan. Each Loan shall bear interest at the rate of 4% per annum commencing with the date the Loan is made. Interest will accrue prior to maturity. At maturity, the Company will have the option to repay each of the Loans, together with all accrued interest thereon, by issuing a new Series C Preferred Stock (the "Preferred Stock"). For purposes of such repayment, the shares of Preferred Stock shall be valued at $5.00 per share.
Terms of Loans. The specific provisions of the Revolving Line of ---------------- Credit, including, but not limited to, the rate of interest, term, late charge, prepayment rights, borrowing base limitations and default rate of interest, are contained in that certain "Revolving Line of Credit Promissory Note" of even date herewith from Borrower to Fifth Third (the "Line of Credit Note"), in the form attached hereto as Exhibit A, as the same may be amended, restated, ---------- modified, extended and/or replaced from time to time. The specific provisions of the Draw Loan, including, but not limited to, the rate of interest, term, late charge, prepayment rights, conditions for draws and default rate of interest, are contained in that certain "Draw Note" of even date herewith from Borrower to Fifth Third (the "Draw Note"), in the form attached hereto as Exhibit B, as the same may be amended, restated, modified, extended and/or ---- replaced from time to time. The Line of Credit Note and the Draw Note are sometimes collectively referred to herein as the "Notes".
Terms of LoansEach Loan made by a Lender pursuant to this Agreement shall be (a) a Base Rate Loan, (b) evidenced by the Amended and Restated Notes delivered pursuant to the First Forbearance Agreement (c) advanced and be payable in accordance with the provisions of Sections 2.9 through 2.16 (inclusive) of the Credit Agreement and (d) shall have the benefit of all Guarantees of the Loans and of all Collateral securing the Loans and the Guarantees.
Terms of Loans. Each Loan is a fixed rate loan; each Note has an original term to maturity of not less than 24 months nor more than 25 years and three months from the date of origination; each Note is payable in monthly installments of principal and interest, with interest payable in arrears, and requires a monthly payment which is sufficient to amortize the original principal balance over the original term and to pay interest at the interest rate set forth in related Note; and no Note provides for any extension of the original term.
Terms of LoansThe Company shall borrow the aggregate principal amount of the Base Commitment in multiple borrowings, in each case not to exceed $200,000 (each such borrowing herein called a “Base Loan”), and, if made available, may borrow the amount of the Additional Commitment, up to the amount of the Total Commitment, each such borrowing being herein called an “Additional Loan,” and the Base Loans and the Additional Loans being herein sometimes collectively called the “Loans”), in the case of the first Base Loan, on a closing date on or as soon as practicable after execution of this Agreement, and in the case of subsequent Loans, on five (5) days prior written notice to the Lender; each Loan shall be due and payable on the date which is nine (9) months from the date the first Base Loan is advanced, shall bear interest on the unpaid principal amount thereof, payable quarterly as set forth in the Note, at a fixed rate equal to the prime rate of Bank of America as published in The Wall Street Journal as in effect on the date of the first Base Loan plus three percent (3%), shall be convertible into equity securities of the Company as provided in paragraph 2 of this Agreement, and shall have such other terms as are set forth herein or in the Notes. The Base Loans and the Additional Loans shall each be evidenced by a single promissory note of the Company dated the date of the first Base Loan or Additional Loan, as applicable, in the form of Exhibit A attached (a “Note,” and collectively, the “Notes”) and shall be secured as provided in the Notes.