Terms of the Loan. The Loan will bear interest for the period and at the rate or rates set forth in the Note, and be payable in accordance with the terms of the Note. The outstanding principal balance, all accrued and unpaid interest and all other sums due and payable under the Note or other Loan Documents, if not sooner paid, shall be paid in full at Loan Maturity.
Terms of the Loan. Section 2.1 Loan.......................................................................................... 24 Section 2.2 Interest...................................................................................... 24 Section 2.3 Interest Rate Cap Agreement................................................................... 25 Section 2.4 Payments...................................................................................... 25 Section 2.5 Maturity...................................................................................... 26 Section 2.6 Prepayment.................................................................................... 26 Section 2.7
Terms of the Loan. 1. The term of the loan shall be ten (10) years, starting from June 19, 2018 to June 18, 2028. The Lender will make the payment to the account designated by the Borrower in one lump sum within three (3) days from the date of execution of the agreement.
2. The borrower shall repay the total principal in lump-sum to the account designated by the lender before the loan becomes due.
Terms of the Loan. 2.1 The Lender will lend to the Company, and the Company will borrow from the Lender by way of one advance to be evidenced by a promissory note in the form attached hereto as Schedule “A”, the Principal sum of ninety thousand dollars (US) subject to the terms and conditions of this Agreement and the Securities.
2.2 For value received, Company promises to pay to Lender on the demand from the date of this Loan Agreement (the “Maturity Date”) the amount of the Principal which has been advanced hereunder and remains outstanding from the date of funding.
2.3 Notwithstanding the above the Company may repay at any time any or all of the Principal then outstanding and accrued and unpaid Interest on giving 20 days notice to the Lender. In this event, the Company may elect to repay the Principal at any time in advance of the Maturity Date.
Terms of the Loan. (i) Limit on Loan Available: The aggregate amount of the Loan available from time to time will not exceed such amount as MSI plc may in its sole discretion determine from time to time.
Terms of the Loan. The Loan will bear interest for the period and at the rate or rates set forth in the Note, and be payable in accordance with the terms of the Note. The outstanding principal balance, all accrued and unpaid interest and all other sums due and payable under the Note or other Loan Documents, if not sooner paid, shall be paid in full on January 1, 2015 (the “Initial Term Maturity Date”). Provided, however, Lender may at its sole discretion, reset the interest rate on the Loan to a new rate (the “Reset Rate”) to be effective after the Initial Term Maturity Date if the Maturity Date is extended as provided herein. If Lender elects to reset the Interest Rate (as defined in the Note), Lender will, during the 54th to 56th month after the date hereof, provide Borrower with written notice of its intent to do so. The notice will specify the interest rate spread and index, each of which shall be decided by Lender in its sole discretion, that will be used to calculate the Reset Rate. The exact Reset Rate will be disclosed to Borrower during the first two weeks of the 59th full month after the date hereof. Upon receipt of notice of the Reset Rate from Lender, Borrower may either accept the Reset Rate unconditionally or repay the Loan in full on or before the Initial Term Maturity Date. Acceptance of the Reset Rate must be in writing and must be received by the Lender no later than the last day of the 59th full month after the date hereof. Unless Borrower so accepts the Reset Rate, the Loan shall be due and payable, in full, without prepayment premium, on the Initial Term Maturity Date. If the Borrower accepts the Reset Rate, the Maturity Date will be extended to January 1, 2020, and interest will begin to accrue at the Reset Rate commencing on January 1, 2015. Commencing on February 1, 2015, the amount of the monthly payment will be adjusted to reflect the monthly payment of interest (calculated at the Reset Rate) and principal based on a 22 year amortization schedule. Borrower will execute and deliver all documents and instruments reasonably required by Lender to effect such adjustment.
Terms of the Loan. The loan shall have the following terms:
(a) an original term not to exceed one hundred fourteen (114) months; provided that, no consumer loan shall cause the weighted average remaining term of the Eligible Consumer Loans pledged as Collateral to exceed ninety-six (96) months;
(b) the principal amount of the loan shall equal not more than ninety percent (90%) of the sales price (not including closing costs, broker's commission, and prior to any discounts) of the Timeshare Interest securing such loan, with the downpayment on the purchase price being not less than ten percent (10%) of the sales price (not including closing costs, broker's commission, and prior to any discounts);
(c) the loan shall be payable in equal monthly installments of principal and interest over the original term of the loan, with the first installment due and payable not more than sixty (60) days from the date of the making of the loan;
(d) the principal amount of the loan shall bear interest at an interest rate of not less than twelve and one-half of one percent (12.5%) per annum or, if the loan does not cause the outstanding principal amount of all Eligible Consumer Loans pledged as Collateral and bearing an interest rate of less than twelve and one-half of one percent (12.5%) per annum to exceed twenty percent (20%) of the outstanding principal amount of all Eligible Consumer Loans pledged as Collateral, the loan shall have an interest rate of not less than ten percent (10%) per annum; and
(e) all principal, interest and other amounts payable in respect of the loan shall be payable in Dollars.
Terms of the Loan. The Loan shall (i) be evidenced by the Note; (ii) be secured by the Mortgage; (iii) be in the aggregate principal amount outstanding on the Amendment Date of $10,655,000; (iv) bear interest at a rate of % per annum; (v) provide for principal and interest payments in accordance with the Note and this Financing Agreement; and (vi) be subject to optional and mandatory prepayment at the times, in the manner and on the terms, and have such other terms and provisions, as provided herein and in the Note.
Terms of the Loan. 1.01 Loan – The NEA agrees to lend to the BORROWER an amount not exceeding pesos:
1.02 The BORROWER can avail of the credit facility in part, its aggregate, the principal amount or full amount.
Terms of the Loan. 4.1 The Loan shall be evidenced by the existing note given in conjunction with the Existing Mortgage, the New Note substantially in the form set forth as Exhibit 2, and the Consolidated Note substantially in the fonn set forth as Exhibit 3, with appropriate insertions, made payable to the order of Watertown Savings Bank, made and delivered at Closing by Borrower.
