Examples of Scheduled Loans in a sentence
Scheduled Loans After the first policy year, scheduled policy loans are available on any monthly date.
Concurrently with the transactions contemplated hereby, on the Closing Date the Existing Revolving Credit Agreement shall have been modified to provide for the reduction of the Commitments of the Banks thereunder (as defined therein) to an amount not greater than the amount of the Scheduled Loans outstanding thereunder at such time and further reduction thereof by the amount of any payment or prepayment of principal of such Scheduled Loans.
Attached hereto as Schedule 1 is a list of certain -------------- loans in DSB's portfolio as of the Closing Date (the "Scheduled Loans"), setting forth the portion of the Escrowed Funds attributable to each such loan ("Loan Escrow Amount").
Repay each Scheduled Loan in full at the end of the Interest Period applicable thereto, and terminate the Existing Revolving Credit Agreement at such time as all Scheduled Loans outstanding thereunder have been paid.
The Company shall transfer legal and beneficial ownership in and to the Scheduled Loans to the purchaser thereof by the execution and delivery of all necessary assignments and endorsements, in form appropriate for recording, and the delivery of all escrow amounts, loan files, documents and other information related to the Scheduled Loans.
For the periods of ninety (90) days following the Closing Date, as of the end of each thirty (30) days during such period, Buyer shall by written notice to Seller identify each of the Branch Loans (the "Scheduled Loans") that, as of the date of such notice, are (i) sixty (60) days or more past due; (ii) subject to bankruptcy or any other form of legal proceedings arising after the Closing; or (iii) subject to any material contingency, which substantially impairs the prospects for collection of such Loan.
Notwithstanding anything in this Agreement to the contrary, the sale, collection or charge-off of all Scheduled Loans shall be a condition to Closing.
If any of the Scheduled Loans is sold for a cash purchase price less than at least the unpaid principal balance, plus any accrued but unpaid interest as of the date of sale as reflected in the financial statements of the Company, the after-tax amount of the discount taken on such loan shall be deducted from the Company’s allowance for loan losses.
On the date five (5) days prior to the contemplated Closing Date (as determined by the Company pursuant to Section 2.02), the Seller shall deliver to the Company a list, certified as to its accuracy by the Chief Executive Officer of the Seller, of each of the loans or other lending relationships, if any, classified by the Seller or the Bank as of such date as a "4" or higher (e.g., "5" or "6") in accordance with the Loan Classification Policy (collectively, the "Scheduled Loans").
The sale and transfer, without recourse, or the collection or charge-off, of each of the Scheduled Loans set forth in Schedule 5.12, as contemplated by Section 5.12, shall have been completed.