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 fifty thousand dollars (USD) subject to the terms and conditions of this Agreement and the Securities.
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 March 11, 2020 to March 10, 2030. 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 Clause
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. Section 2.1
Terms of the Loan. The Department hereby agrees to reserve in the State Revolving Fund a sum equal to the Loan Amount from the sums available to the Department or to be received by the Department to be deposited in the State Revolving Fund. The Department further agrees that it will effect the Loan by purchasing the Bond from the City and paying the purchase price thereof in installments pursuant to this Loan Agreement and the Authorizing Ordinance in accordance with Sections 7.01 and 7.02. The City will apply the proceeds of the Loan to finance the Costs of the Project, and where applicable, to reimburse the City or any lender for such portion of the Costs of the Project that was paid or incurred by the City or for payment of the cost of which sums were borrowed on an interim basis in anticipation of reimbursement by the Department. Notwithstanding the foregoing, (i) the Department shall be under no obligation to continue to make disbursements after an Event of Default has occurred and is continuing under the Authorizing Ordinance or this Loan Agreement; and (ii) the Department shall not be obligated to make or continue to make disbursements if funds are not legally available to the Department in the State Revolving Fund to make the Loan or make disbursements pursuant to the Loan. The City shall use the proceeds of the Loan strictly in accordance with the terms of the Authorizing Ordinance and this Loan Agreement.
Terms of the Loan. 2.1 The Borrower and the Lender acknowledge to and agree with each other that for so long as the Indebtedness remains outstanding, this Loan Agreement and all the terms, covenants, conditions and stipulations herein contained will continue, and the Indebtedness is and shall be subject to the following terms and conditions:-
Terms of the Loan. The loan shall have the following terms:
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.
