Examples of Secured Loan in a sentence
If, pursuant to the terms of Project Secured Loan Documents, the lender is entitled to require the use of the Insurance Proceeds to prepay all or any portion of the principal balance of the Project Secured Loan, then, for so long as the Project Secured Loan Documents remain in effect, Owner: (i) shall maintain Additional Coverage Insurance; and (ii) shall not change or cancel the Additional Coverage Insurance without prior written notice to RDC at least 30 days in advance.
Share Secured Loan APR is fixed to equal the sum of BECU’s regular saving account dividend rate on the date your loan is approved, plus a 3% margin.
If there is Casualty Damage, then the proceeds of the Business Interruption Insurance: (i) shall be used to pay Real Estate Taxes and any Taxpayer Payments during the period in which Owner is repairing, restoring, and/or replacing the Property following Casualty Damage; and (ii) shall not be used to prepay all or any portion of the principal balance of any Project Secured Loan.
If there is Casualty Damage, then the Insurance Proceeds: (i) shall be used to pay the cost to repair, restore, and/or replace the Property; and (ii) shall not be used to prepay all or any portion of the principal balance of any Project Secured Loan; provided that the foregoing limitation on the use of the Insurance Proceeds shall not apply with respect to the Additional Coverage Insurance, the proceeds of which shall be used as set forth in Subsection 5(d).
CD Secured Loan amounts up to balance of CD, term up to maturity date of CD.