Loan Opening Date. The date of the disbursement of the Loan.
Loan Opening Date. The date of this Agreement.
Loan Opening Date. The date of the disbursement of the Loan. Maximum Allocated Loan Amount. The Maximum Allocated Loan Amount for each Tract of the Property in the Total Property is as follows: Project Allocated Loan Percentage Maximum Allocated Loan Amount Corporate Park Woodland 17.714 % $ 6,554,347.00 Xxxxx Xxxx Industrial Park 12.877 % $ 4,764,379.00 I-10 Warehouse 10.169 % $ 3,762,628.00 Main Park II 8.001 % $ 2,960,364.00 Plaza Park 7.112 % $ 2,631,581.00 West Belt Plaza 6.239 % $ 2,308,398.00 Westgate Service Center 8.950 % $ 3,311,418.00 Corporate Park West 26.670 % $ 9,867,899.00 Dairy Ashford 2.268 % $ 838,986.00 Total 100.000 % $ 37,000,000.00 Mortgage Correspondent: As of the Loan Opening Date, the Mortgage Correspondent is Holliday, Fenoglio, Xxxxxx, X.X. and its address is: 0 Xxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxx, Xxxxx 00000. Lender retains the right to change the Mortgage Correspondent at any time during the term of the Loan. Borrower hereby acknowledges that Lender may utilize Mortgage Correspondent or other outside third parties selected by Lender in any aspects of the Loan, including but not limited to, the servicing, administration and monitoring of the Loan. Note: That certain Fixed Rate Promissory Note made by Borrower of even date herewith and payable to the order of Lender in the original principal amount of Thirty-Seven Million Dollars ($37,000,000.00).
Examples of Loan Opening Date in a sentence
Before the Loan Opening Date, the Lender will have the right to make (and thereafter from time to time the Lender will have the right to revise), in its reason-able discretion, an estimate of the cost of construction of the Improvements (the “Lender’s Construction Cost Estimate”).
Borrower shall pay all expenses and fees incurred as of the Loan Opening on the Loan Opening Date (unless sooner required herein).
Borrower agrees that it will, on or before the Loan Opening Date, execute and deliver or cause to be executed and delivered to Lender the following documents in form and substance acceptable to Lender: (a) The Note.
Borrower shall pay to Lender a Loan origination fee in the amount of $25,000.00, which will be paid to Lender by Borrower on the Loan Opening Date.
Neither Borrower nor the Project shall suffer a material adverse change in financial condition prior to the Loan Opening Date or during the term of the Loan.
More Definitions of Loan Opening Date
Loan Opening Date means November 12, 2009.
Loan Opening Date. The date of the Loan Opening.
Loan Opening Date means the date of the initial disbursement of proceeds of the Loan.
Loan Opening Date. December 20, 2000.
Loan Opening Date. The date the initial Loan Advance is disbursed by Lender as provided herein. MATURITY DATE: January 31, 1999; notwithstanding anything to the contrary in this Agreement or any of the Loan Documents, a default under the Subordinate Loan Documents shall not constitute a Default or Event of Default under this Agreement or Loan Documents; provided, however, upon Lender's receipt from Subordinated Lender of a copy of any notice sent by Subordinated Lender to Borrower regarding Borrower's default under the Subordinated Loan Documents, Lender shall have the right, which Lender may exercise at its sole option, to accelerate the Maturity Date to a date that is six (6) months after the date of Subordinated Lender's default notice to Borrower; provided, further, however, that during said six (6) month period, the Loan Documents shall not be deemed to be in default by virtue of the default under the Subordinated Loan Documents, and Borrower shall continue to have the right to borrow monies under this Agreement and the Loan Documents in accordance with the provisions thereof, and provided, further, that if the default under the Subordinated Loan Documents is cured prior to expiration of said six (6) month period, the original Maturity Date shall be reinstated (provided there is no other Default or Event of Default under the Loan Documents). Borrower hereby acknowledges that Lender's right to accelerate the Maturity Date as provided above in the event Subordinate Lender transmits a default notice to Borrower is of the very essence of this Agreement and Lender's agreement to make the Loan to Borrower and, but for such right of Lender to accelerate the Maturity Date, Lender would not make the Loan or agree to make the Loan with the Subordinate Loan in existence. Borrower hereby irrevocably waives any right to contest Lender's right to accelerate the Loan as provided above in the event Subordinate Lender transmits a default notice to Borrower.
Loan Opening Date. The date the Mortgage and all other Loan Documents have been executed and delivered to Lender and Lender's lien on the Mortgage is insured by the Title Insurers pursuant to a marked-up title commitment, and all conditions to the disbursement of the Loan have been satisfied. Material Adverse Change or material adverse change: If, in Lender’s reasonable discretion, exercised in good faith, the business prospects, operations or financial condition of a person, entity or property has changed in a manner which could materially impair the value of Lender’s security for the Loan, prevent timely repayment of the Loan or otherwise prevent the applicable person or entity from timely performing any of its material obligations under the Loan Documents.
Loan Opening Date. The date of the First Advance. Mortgagee: Xxxxxxx National Life Insurance Company, an affiliate of PPM Finance, Inc. Mortgages: Each mortgage, deed of trust, security deed, deed to secure debt or similar instrument described in Section 2.2 of this Agreement for the Property and for any Substitute Property, each as originally executed or as may be hereafter supplemented or amended from time to time in writing.