Aggregate Principal Loan Amount. The Initial Lender agrees to extend the Term Loan to Borrower in an aggregate principal amount of $5,000,000, in accordance with the terms of, and subject to the conditions set forth in this Agreement. The definitive principal amount of the Term Loan to be extended shall be provided in Schedule C, which shall be delivered by the Initial Lender to Borrower on or prior to the Closing Date, as a condition to closing under Section 1.9(b). The unpaid principal balance plus all accrued but unpaid interest on the Term Loan shall be due and payable on October 1, 2025 (the “Maturity Date”), or such earlier date on which such amount shall become due and payable on account of acceleration by the Lenders in accordance with the terms of this Agreement. The obligations of Borrower to the Lenders under the Term Loan shall be unsecured.
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Sources: Subordinated Loan Agreement, Subordinated Loan Agreement (First National Corp /Va/)
Aggregate Principal Loan Amount. The Initial Lender agrees to extend the Term Loan to Borrower in an aggregate principal amount of $5,000,0007,500,000, in accordance with the terms of, and subject to the conditions set forth in this Agreement. The definitive principal amount of the Term Loan to be extended shall be provided in Schedule C, which shall be delivered by the Initial Lender to Borrower on or prior to the Closing DateDate (as defined below), as a condition to closing under Section 1.9(b). The unpaid principal balance plus all accrued but unpaid interest on the Term Loan shall be due and payable on October 1, 2025 (the “Maturity Date”), or such earlier date on which such amount shall become due and payable on account of acceleration by the Lenders in accordance with the terms of this Agreement. The obligations of Borrower to the Lenders under the Term Loan shall be unsecured.
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