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The Loan
The Loan contract clause examples
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Loan Documents. This Amendment is a Loan Document as defined in the Credit Agreement, and the provisions of the Credit Agreement generally applicable to Loan Documents are applicable hereto and incorporated herein by this reference.

Loan Modification. By its execution of this Amendment, the Borrower hereby authorizes the Administrative Agent to consider this Amendment its application for loan modification on the terms and conditions set forth herein.

Loan Proceeds. shall use the proceeds of the Loan received by it hereunder for the purposes set forth in [Section 2.1.4].

Loan Documents. The validity or enforceability of any Loan Document shall at any time for any reason (other than solely as the result of an action or failure to act on the part of Agent or any Lender) be declared to be null and void, or a proceeding shall be commenced by Parent or any Loan Party or by any Governmental Authority having jurisdiction over Parent or Loan Party, seeking to establish the invalidity or unenforceability thereof, or Parent or any Loan Party shall deny that Parent or such Loan Party has any liability or obligation purported to be created under any Loan Document;

Loan Notice. The Administrative Agent shall have received a Loan Notice with respect to the Loans to be made on the Closing Date.

Loan Parties. Set forth on [Schedule 5.20(b)] is a complete and accurate list of all Loan Parties, showing as of the Closing Date, or as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.13 and 6.14, (as to each Loan Party) # the exact legal name, # any former legal names of such Loan Party in the four (4) months prior to the Closing Date, # the jurisdiction of its incorporation or organization, as applicable, # the type of organization, # the jurisdictions in which such Loan Party is qualified to do business, # the address of its chief executive office, # the address of its principal place of business, # its U.S. federal taxpayer identification number or, in the case of any non-U.S. Loan Party that does not have a U.S. taxpayer identification number, its unique identification number issued to it by the jurisdiction of its incorporation or organization, # the organization identification number, # ownership information (e.g., publicly held or if private or partnership, the owners and partners of each of the Loan Parties) and # the industry or nature of business of such Loan Party.

Loan Amount. The Lender hereby agrees to make a loan to the Borrower in the amount of four million ($4,000,000) (theLoan”).

Loan Term. The term of this Loan shall commence on the Effective Date, and shall be repaid in the amount of $250,000 every quarter for four (4) years beginning on Oct 1, 2021. This Agreement and the Loan may be extended by mutual consent of the Parties, provided that any amendment complies with all applicable legal requirements

Loan Terms. The minimum Participant Loan shall be $1,000. The maximum Participant Loan shall be the lesser of # 50% of the Vested balance in the Eligible Borrower’s Accounts; and # $50,000, reduced by the highest outstanding balance of any Participant Loan (or any loan from other tax-qualified plans of the Affiliated Companies) to such Eligible Borrower during the 12-month period ending on the day before the Participant Loan is made. Each Participant Loan shall bear a reasonable rate of interest. Each Participant Loan shall be required to be repaid in full within 5 years; provided, however, that if the Participant Loan is used to acquire a dwelling which is to be used within a reasonable time after the Participant Loan is made

Loan Proceeds. Upon the approval of an Eligible Borrower’s application for a Participant Loan, the Participant Loan proceeds shall be derived from the proceeds of the sale or redemption of Investment Funds in the Eligible Borrower’s Before-Tax, After-Tax and Rollover Accounts, and, effective as of January 1, 2013, Roth Account, in the manner specified in the Loan Procedures. The proceeds of such sales or redemptions shall be transferred # from the Eligible Borrower’s other Accounts to his Loan Account, and # from his Loan Account to the Eligible Borrower.

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