Maximum Loan means the maximum aggregate amount to be loaned hereunder not to exceed Five Million Dollars ($5,000,000.00).
Maximum Loan. Amount shall mean $20,000,000 (subject to increase pursuant to the Accordion). Mortgage shall mean that certain Deed of Trust, Assignment of Leases and Rents and Security Agreement, dated the date hereof, by Towers in favor of Lender, as the same may be amended, restated, modified or supplemented from time to time. Mortgaged Property shall mean that certain real property located at 0000 X. Xxxxxx Boulevard, Abilene, Texas.
Maximum Loan. AMOUNT For Contracts with Contract Value of $20,000 or less, the maximum loan that may be taken is the amount that produces a loan balance immediately after the loan that is the lesser of $10,000 or 75% of the Contract Value. For Contracts with Contract Value over $20,000 the maximum loan that may be taken is the amount that produces a loan balance immediately after the loan that is the lesser of: (1) $50,000 reduced by the excess of (a) the highest outstanding loan balance during the preceding 12 month period ending on the day before the date the loan is made over (b) the outstanding loan balance on the date the loan is made; or (2) 50% of the Contract Value. The aggregate of all loans may not exceed the limitations set forth above. LOAN ACCOUNT, AND INTEREST EARNED ON LOAN ACCOUNT When your loan is approved, the Company will transfer Contract Value from the Subaccounts or allocate Fixed Account Contract Value to an account called the Loan Account in an amount equal to the loan amount. Any such transfer shall be allocated proportionately to the Owner's Contract Value in the Subaccounts and the Fixed Account, unless otherwise directed by the Owner. The Loan Account is part of the Fixed Account and amounts allocated to the Loan Account earn the Minimum Guaranteed Interest Rate specified in the Contract.
Examples of Maximum Loan in a sentence
After giving effect to the release of the Borrowing Base Property, the Total Outstandings will be less than or equal to the Maximum Loan Amount.
Amounts expended by Lender which exceed amounts held in the Reserve Accounts shall be added to the Maximum Loan Amount, shall be immediately due and payable, and shall bear interest at the Default Rate from the date of disbursement until paid in full.
In the event that Borrower receives Earmarked Funds, Borrower shall use the Earmarked Funds to prepay principal, plus accrued interest, within two business days after such Earmarked Funds are received by Borrower, and the amount of principal so prepaid shall reduce the Maximum Loan Amount.
The aggregate amount of the Loan to be advanced shall not exceed the US Dollar Maximum Loan Amount.
On the Closing Date, Lender shall advance the entire Maximum Loan Amount to Borrower.
More Definitions of Maximum Loan
Maximum Loan has the meaning set forth in Section 2.1.
Maximum Loan means the maximum aggregate amount to be loaned hereunder not to exceed the lesser of (i) Eleven Million Dollars ($11,000,000) or (ii) the actual cost to Borrower to acquire the FF&E.
Maximum Loan means $625,000,000.
Maximum Loan means the aggregate of the Commitments of the Financial Institutions hereunder.
Maximum Loan. Size: Loans in excess of $1,000,000.00 must be approved by Bank prior to funding. Guarantor(s): None Financial Covenants: 1. Borrower and Xxxxxxx Xxxx Homes, Inc. (parent company) agree to maintain a $3,000,000.00 minimum net worth in Borrower at all times,
Maximum Loan means 97% of the purchase price for the applicable Affordable Unit. ea. "Owner" means the Declarant and any subsequent buyer, devisee, transferee, grantee, owner or holder of title of any Affordable Unit other person or persons who acquire an ownership interest in or title to the Property by purchase, devise, transfer, grant, or other conveyance. f. "Proposed Monthly Housing Expense" means the monthly total of the principal and interest, private mortgage insurance, homeowners association dues, l/12th of estimated real property taxes and estimated gas, property insurance, water and sewer and electricity expenses. gb. "Transfer" means any sale, assignment or transfer that is voluntary, involuntary or by operation of law (whether by deed, contract of sale, gift, devise, bequest, trustee's sale, deed in lieu of foreclosure, or otherwise) of any interest in an Affordable Unit the Property, including, but not limited to a fee simple interest, a joint tenancy interest, a tenancy in common, a life estate, or any interest evidenced by a land contract by which possession of an Affordable Unit the Property is transferred and the Owner obtains title. h. "Acquisition Date" means the date of Transfer of an Affordable Unit.
Maximum Loan. Amount as defined in Section 2.1.