Existing IMA Loan definition

Existing IMA Loan means that certain loan made by 84 Financial, L.P. to IMA, as evidenced by that certain Assignment, Amendment and Restatement of Promissory Note by IMA in favor of Lender dated as of the date hereof with a current principal balance of One Million Six Hundred Eighty-Six Thousand Seven Hundred Sixty-Six and 76/100 Dollars ($1,686,766.76), as further set forth in Section 2.01 hereof.
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Existing IMA Loan with the BMH Loan, the New IMA Loan and the Existing IMA Loan collectively referred to as the “Developer Loans”).
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Examples of Existing IMA Loan in a sentence

  • Grantor has assumed that certain existing loan from 84 Financial, L.P. to IMA in the amount of $1,686,767 (the “Existing IMA Loan”) thereby becoming the lender under the Existing IMA Loan as evidenced by that certain Promissory Note from IMA to Grantor, as assigned (the “Existing IMA Loan”; with the BMH Loan, the New IMA Loan and the Existing IMA Loan collectively referred to as the “Developer Loans”).

  • All representations and warranties of the Borrower Parties and ▇▇▇▇▇▇▇ contained herein or made in connection herewith shall survive the making of and shall not be waived by the execution and delivery of this Agreement or the Development Notes, any investigation by Lender, or the making of any of the BMH Loan or the New IMA Loan, or the assumption of the Existing IMA Loan, and Lender may hereby rely upon same.

  • Upon repayment of any amount of principal or interest on the Existing IMA Loan by IMA, IMA may not reborrow hereunder.

  • The obligation of IMA to repay the unpaid principal amount of the Existing IMA Loan, and to pay interest thereon, shall be evidenced in part by the Existing IMA Note, dated of even date herewith.

  • Lender has assumed that certain existing loan from 84 Financial, L.P. to IMA in the amount of $1,686,767 (the “Existing IMA Loan”)thereby becoming the lender under the Existing IMA Loan as more clearly set forth in the Credit Agreement and as evidenced by that certain Promissory Note from IMA to Lender, as assigned (the “Existing IMA Note”; with the BMH Note, the New IMA Note and the Existing IMA Note sometimes collectively referred to as the “Developer Notes”).