Standard Loan definition
Examples of Standard Loan in a sentence
Personal Loan vs Standard Loan Unlike business or auto loans whose terms prescribe how funds may be spent, personal loan money may be used for any purpose by the borrower.
After the Acceptance Date but prior to the Effective Time, the Company shall repay in full all outstanding indebtedness under the Standard Loan Agreement, dated March 29, 2006, between the Company and Bank of America, N.A. and the Promissory Notes between General Electric Capital Corporation and the Company, dated December 30, 2005 and March 30, 2007, respectively; provided that such repayment obligation shall not exceed a total of $7,000,000.
The Borrower will indemnify and hold the Bank harmless from any loss, liability, damages, judgments, and costs of any kind relating to or arising directly or indirectly out of (a) this Agreement or any document required hereunder, (b) any credit extended or committed by the Bank to the Borrower hereunder, and (c) any litigation or Standard Loan Agreement 18 Revised 2/2005 proceeding related to or arising out of this Agreement, any such document, or any such credit.
The Standard Loan Servicing Fee Schedule is a monthly base servicing fee on each and every Loan in the amount of $15 per month per Lender; Servicer will be entitled to an additional $5 per month per Lender for a HELOC and/or Variable Loan; Loans over $600,000 are subject to an annual servicing fee of 0.075% of the unpaid principal balance of the Loan paid monthly (0.075% of $1,000,000 UPB divided by 12 equals $62.50 per month), or $15 per month per Lender, whichever is greater.
Should no Election Notice be made by Borrower in accordance with Section 2(d)(1)(y) in respect of an Interest Period, then the Standard Loan Rate shall automatically apply for such Interest Period.