Aggregate Principal Loan Amount. The Initial Lender agrees to extend the Term Loan to Borrower in an aggregate principal amount of $10,000,000, in accordance with the terms of, and subject to the conditions set forth in this Agreement. 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 (Pathfinder Bancorp, Inc.)
Aggregate Principal Loan Amount. The Initial Lender agrees to extend the Term Loan to Borrower in an aggregate principal amount of $10,000,000, in accordance with the terms of, and subject to the conditions set forth in this Agreement, as stated in Schedule C, attached hereto. 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.
Appears in 1 contract
Aggregate Principal Loan Amount. The Initial Lender agrees to extend the Term Loan to Borrower in an aggregate principal amount of $10,000,0005,000,000, in accordance with the terms of, and subject to the conditions set forth in this Agreement, as set forth on Schedule C to this Agreement. 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.
Appears in 1 contract
Sources: Subordinated Loan Agreement (First Colebrook Bancorp, Inc.)