Examples of Special Loans in a sentence
The General Partners each expect to borrow $4,000,000.00 from the GDB (the "GDB Loans") for a total of $8,000,000.00 The General Partners agree to utilize the proceeds from the GDB Loans to make a loan to the Partnership of $4,000,000.00 each (the "Special Loans").
When the amounts of the Special Loan and/or Loan balances (including interest), as the case may be, of the respective Members are in the ratio of the Percentage Interests of the respective Members, all payments of interest on and repayments of the principal of such Special Loans or Loans shall be pro rata in accordance with the remaining balance (including interest) of each of the Special Loans or Loans.
This Section shall not apply to Competitive Borrowings or to Special Loans, which may not be converted or continued.
In addition, without the prior written consent of the Required Lenders, there shall not be Special Loans outstanding at any time in the aggregate principal amount in excess of 25% of the aggregate Commitments.
Furthermore, true, complete and materially correct copies of reports containing the amounts of all loans, leases, advances, credit enhancements, other extensions of credit, commitments and interest bearing assets of East Penn Financial that East Penn Financial has classified internally as Special Loans and the amounts of all overdrafts occurring since December 31, 2006 are attached hereto on East Penn Financial Disclosure Schedule 3.19 of this Agreement.