Examples of Allocated Loan Amount in a sentence
In connection with the transfer of the Affected Properties as provided for in this Section 9.1.3, the Loan shall be reduced by an amount equal to the amount of the New Note applicable to the Affected Properties and the new loan secured by the Affected Properties and evidenced by the New Note shall be in an amount equal to the applicable Allocated Loan Amount.
Subsequent to the release of the Affected Properties from the lien of the Loan pursuant to this Section 9.1.3, the balances of the components of the Loan shall be the same as they would have been had a prepayment occurred in an amount equal to the applicable Allocated Loan Amount of the Affected Properties, and such prepayment had been applied pro rata to all remaining payments.
In addition, Lender may participate in any settlement discussions with any insurance companies (and shall approve the final settlement) with respect to any Casualty in which the Net Proceeds or the costs of completing the Restoration are equal to or greater than twenty-five percent (25%) of the Allocated Loan Amount for the applicable Individual Property and Borrower shall deliver to Lender all instruments required by Lender to permit such participation.