THE RESTRUCTURED LOAN Sample Clauses
THE RESTRUCTURED LOAN. 2.1. The Lender hereby consolidate and/or restructure its existing loans owed by the Borrower to the Lender as reflected in Schedule "A", subject to the Terms and Conditions set out in this Loan Restructuring Agreement.
2.2. This Agreement shall be subject to a cooling off period of three (3) business days as stipulated in the Microlending Act and regulations as amended from time to time.
2.3. The Borrower undertakes to repay the restructured loan outstandings and interest to the Lender in full by no later than the Final Repayment Date.
2.4. The Borrower declares that he/she is legally and unconditionally indebted to the Lender for the Restructured Loan Outstanding as well as the interest and charges stipulated per Schedule “A”.
THE RESTRUCTURED LOAN. 2.1.1 On the Effective Date Lender's claims against the Debtors in respect of the loans made pursuant to the Pre Petition Loan Documents shall be restructured as a secured claim against Borrower in the original principal amount of $55,386,583.29 (i.e., the sum of (a) $50,569,799.05 (the outstanding principal balance of such pre petition claims as of the Petition Date), less any and all payments made in respect of the principal of such pre petition claims prior to the Effective Date; plus (b) interest accrued on Lender's pre petition claims (including, as applicable, interest at the default rate provided in the Pre Petition Revolving Credit Agreement) and remaining unpaid as of the Petition Date, in the amount of $2,918,525.15, plus (c) interest accrued on Lender's pre petition claims, at the default rate provided in the Pre Petition Revolving Loan Agreement, from and including the Petition Date to and including the Effective Date; plus (d) costs and expenses invoiced to or otherwise incurred by Lender in respect of its pre petition claims and remaining unpaid as of the Petition Date, in the amount of $1,500,365.55; plus (e) to the extent reasonably determinable as of the Effective Date, costs and expenses invoiced to or otherwise incurred by Lender in respect of its pre petition claims from and including the Petition Date to and including August 31, 1996; minus (f) any and all adequate protection payments received by the Lender with respect to its pre petition claims as of the Effective Date; and minus