THE HOMESTEAD LOAN Sample Clauses

THE HOMESTEAD LOAN. Subject to the limitations set forth in Sections 2.5, 2.6 and 2.7 below, Atlantic hereby agrees, upon the terms and conditions set forth herein and in the other applicable Loan Documents, to advance to Homestead (or, as Homestead may direct, to any Subsidiary) up to the amount of the Maximum Corporate Loan Amount for the purpose of paying the costs and expenses incurred by Homestead (or by any such Subsidiary, as the case may be) in completing the design and construction of the Existing Projects and in performing its due diligence review, obtaining all Permits required for development of and otherwise acquiring the Land for, and completing the design and construction of, such of the Future Projects hereafter pursued by Homestead or any such Subsidiary as may be funded under the provisions of this Agreement. Principal and accrued interest on the Corporate Note shall be due and payable in accordance with the terms and conditions set forth therein and herein.
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Related to THE HOMESTEAD LOAN

  • The Loan Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date.

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • Mortgagor The obligor on a Mortgage Note. ---------

  • No Pledge or Loan This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by any one or more Holders to any one or more other Holders, or a loan from any one or more Holders to any one or more other Holders. The Note B Holder shall have not any interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

  • Loan Interest Zero interest rate

  • Title to Mortgaged Property and Lien of this Instrument Mortgagor owns the Mortgaged Property free and clear of any liens, claims or interests, except the Permitted Encumbrances and the Permitted Liens. This Mortgage creates valid, enforceable first priority liens and security interests against the Mortgaged Property.

  • PPP Loan On or about January 24, 2022, the PPP Loan was forgiven in full by the PPP Lender and the U.S. Small Business Administration in accordance with the terms of the PPP Loan, CARES Act, and all other applicable Laws.

  • Single Loan All Loans to Borrower and all of the other Obligations of Borrower arising under this Agreement and the other Loan Documents shall constitute one general obligation of Borrower secured, until the Termination Date, by all of the Collateral.

  • No Construction Loans No Mortgage Loan was made in connection with (i) the construction or rehabilitation of a Mortgage Property or (ii) facilitating the trade-in or exchange of a Mortgaged Property other than a construction-to-permanent loan which has converted to a permanent Mortgage Loan;

  • Security Instrument Borrower will execute the Security Instrument dated of even date with this Loan Agreement. The Security Instrument will be recorded in the applicable land records in the Property Jurisdiction.

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