Examples of Lakeshore Note in a sentence
Neither the Borrower nor Lakeshore shall be permitted to borrow, repay and reborrow up to the principal amounts of the Lakeshore Note unless documentary stamps tax and intangibles tax, required by law to be paid, has been paid on the amounts readvanced and unless the Bank has a first in priority mortgage on the Florida property owned by Lakeshore securing the Lakeshore Note.
So long as no Event of Default then exists or with notice or lapse of time would exist, upon the request of the Borrower, but in the Bank's discretion, the Bank shall sell to the Borrower and/or the Borrower's designated subsidiary, the Lakeshore Note and/or the Lakeshore Mortgage for the balance due under the Lakeshore Note plus accrued interest.
As of the date hereof, the outstanding unpaid principal balance of the Lakeshore Note is $20,400,000.00 and the undisbursed amount of the Lakeshore Note is $-0- and no defenses or offsets exist against the holder of the Lakeshore Note or otherwise.
The provisions of this Loan Agreement, the Note or the Lakeshore Note or any instrument or document executed pursuant hereto or securing the indebtednesses may be amended or modified only by an instrument in writing signed by the parties hereto.
All advances hereunder, whether under the Note, the Lakeshore Note or the Lakes Mall Note, shall be made by depositing the same to the checking account of Borrower at the Bank or other methods acceptable to Borrower and Bank.
The Borrower may, at its option, from time to time, subject to the terms and conditions hereof including Section 2.8 hereof, without penalty, borrow, repay and reborrow amounts under the Note, the Lakeshore Note and the Lakes Mall Note, and principal payments received shall be applied by the Bank to the Revolving Credit Note, the Lakeshore Note and the Lakes Mall Note all in such order and amounts as the Bank deems appropriate in its sole discretion.
If Bank elects not to renew the Loan, Bank shall not perform or cause to be performed, except at Bank's expense unless an Event of Default has occurred, any inspections, appraisals, surveys or similar items between: (a) the date notice thereof is given Borrower or the Termination Date, whichever first occurs, and (b) the date the Note, the Lakeshore Note and the Lakes Mall Note are repaid as provided herein.
The provisions of this Loan Agreement, the Note, the Lakeshore Note, the Lakes Mall Note, the CBL Mortgage or any instrument or document executed pursuant hereto or securing the indebtednesses may be amended or modified only by an instrument in writing signed by the parties hereto.
All advances hereunder, whether under the Note or the Lakeshore Note, shall be made by depositing the same to the checking account of Borrower at the Bank or other methods acceptable to Borrower and Bank.
So long as no Event of Default then exists or with notice or lapse of time would exist, upon the request of the Borrower, but in the Bank's discretion, the Bank shall sell to the Borrower and/or the Borrower's designated subsidiary, the Lakeshore Note and/or the Lakeshore Mortgage for the balance due under the Lakeshore Note (the "Lakeshore Principal Balance") plus accrued interest.