Loan Terms and Conditions Sample Clauses
The 'Loan Terms and Conditions' clause defines the fundamental rules and requirements governing a loan agreement between the lender and borrower. It typically outlines key elements such as the loan amount, interest rate, repayment schedule, collateral requirements, and any applicable fees or penalties. For example, it may specify monthly payment amounts, the duration of the loan, and what happens in the event of late payments. This clause ensures both parties have a clear understanding of their rights and obligations, thereby reducing the risk of disputes and providing a framework for managing the loan relationship.
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Loan Terms and Conditions. The Lordstown School District (“District”) is loaning one Google Chromebook, and charger, (jointly “Equipment”) to the undersigned Student and Guardian(s). The Equipment is, and at all times remains, the property of the District. The District retains all ownership and title rights to the Equipment. The District retains the right to inspect the Equipment at any time and to alter, add, or delete installed hardware or software. The Equipment is lent to the Student and Guardians for educational purposes only. The Equipment must be returned to the District’s Technology Department at the end of the current school year, upon the Student’s withdrawal from the District, or upon the District’s request. The District may request that the Equipment be returned at any time. Upon such a request, the Student and Guardian(s) will immediately return the Equipment. The Student and Guardian(s) agree that the Equipment was in good working condition when the Equipment was loaned. The Student and Guardian(s) further agree that they are responsible for properly caring for the Equipment and ensuring that it is returned to District in the same condition in which it was lent. The Student and Guardian(s) will prevent the Equipment from being defaced, damaged or destroyed in any way.1 The Student will take all reasonable precautions to ensure that the Equipment is not infected by any electronic virus or other malware. Inappropriate use of the Equipment may result in the Student losing the privilege to use the Equipment. The Student and Guardian(s) agree that they are financially responsible for the total repair or replacement cost of the Equipment if it is not returned or if 1 The term “damaged” includes, but is not limited to, physical damage, altering or interfering with the normal operation of software, and installing or downloading software without prior consent from the District. it is returned in a different condition from the condition in which it was lent. The Equipment may be used by the Student only for noncommercial purposes, in accordance with the District’s policies and rules, the District’s Acceptable Use Policy, the District’s Student Handbooks, the Chromebook Agreement, and all federal, state, and local laws. The Student and Guardian(s) agree not to install or use any software, apps, operating systems, or programs other than those owned or approved by the District. One user with specific privileges and capabilities has been set up on the Equipment for the exclusive use...
Loan Terms and Conditions. Subject to the terms and conditions contained in this Agreement, as may be modified by the provisions of Exhibit C and Section 3.4 of the Funding Loan Agreement, Governmental Lender agrees to make the Borrower Loan to Borrower. The repayment of all amounts due in connection with the Borrower Loan shall be secured by, among other things, the Deed of Trust, the Security Documents and such other collateral as may be required by Bank. Interest shall accrue and principal and interest shall be payable in accordance with the terms of this Agreement.
Loan Terms and Conditions. To the extent that a new or increased term loan or a replacement of the Aggregate Commitments is requested pursuant to the terms of this Agreement (any such new or increased term loan or replacement of the Aggregate Commitments, an “Accordion Tranche”), such Accordion Tranche shall, in addition to compliance with the other applicable terms of this Section 2.15, be subject to additional customary terms and conditions as are agreed among the Borrower, the Agents and the Lenders participating in such Accordion Tranche, in any event including the following:
Loan Terms and Conditions. Loan approval is contingent on LPI Loans’ standard underwriting procedures. The loan amount, interest rate, and repayment terms will be outlined in the individual loan agreement signed by the customer. LPI Loans will disburse the loan amount directly to the Dealer upon successful loan approval and completion of customer documentation.
Loan Terms and Conditions. The terms and conditions of the ------------------------- $1,495,000.00 LOAN (including the term, interest rate and provisions for repayment of the principal amount thereof) are as set forth in the Promissory Note annexed hereto as EXHIBIT A, and as set forth in this Loan Agreement. --------- With respect to the Loan and Note, Bank agrees that Bank shall issue to Borrower a monthly computer generated invoice of the amount of interest and principal due and payable for the applicable month for the Loan and Note, which invoice shall be mailed to Borrower's address for notices set forth in Section 4.3 hereof, on or about the first (1st) of each month during the ----------- term of the Loan.
Loan Terms and Conditions. To the extent that an Accordion Advance is requested pursuant to the terms of this Agreement, such Accordion Advance shall, in addition to compliance with the other applicable terms of this Section 2.14, be subject to additional customary terms and conditions as are agreed among the Borrower, the Administrative Agent and the Lenders participating in such Accordion Advance, in any event including the following:
Loan Terms and Conditions. Representations and Warranties - reaffirmation of current financial condition of the borrower and statements made to lender.
Loan Terms and Conditions. Unpaid Balance Interest Rate Date Interest Begins First Payment Due Due Every(date) Thereafter Payment Amount Applied as: Principle and Interest Principle Interest Payment Frequency: Weekly Monthly Quarterly Semi-Annual Annual Additional or Balloon Payment Amount Due On Late Charge on Balloon After Days Grace Late Payment Charge After Days Grace Interest will be calculated daily unless box is checked. 30 Day Account Servicing Fees (*Required): Payee Payor Split between Payee and Payor Servicer is directed to disburse payments as follows (check all that apply): Check to the named Payee(s) (attach separate pages for additional disbursements) Check to Underlying Lienholder (complete and attach Prior Lien Addendum) Electronic Deposit to Payee(s) bank account (complete and attach Automatic Deposit Authorization)
Loan Terms and Conditions. (a) A Participant's loans shall be derived solely from the Participant's Account. A Participant may only have one loan outstanding at a time. The minimum loan available is $1,000. The maximum loan available will be the lesser of (A) 50% of the Vested portion of a Participant's Account including any outstanding loan balance determined as of the Participant's Loan Election Date (provided, however, that any withdrawals made pursuant to Article IX, on or after the Loan Election Date and before the receipt of the promissory note and security agreement by the Plan Administrator, shall reduce the available Vested portion of a Participant's Account) minus any outstanding loan balance on the Loan Election Date, or (B) $50,000, less the highest combined outstanding principal balance of all loans at any time during the prior 12-month period. For purposes of this limitation, all loans from all qualified plans maintained by the Company or by any Affiliated Company.
(b) Each loan shall be evidenced by a promissory note and security agreement setting forth the Participant's obligation to repay the borrowed amount to the Plan, in such form and with such provisions consistent with this Article XII as is acceptable to the Company. Loans shall bear a reasonable interest rate equal to the prevailing rate charged by lenders for similar loans as determined by the Company.
(c) Loans shall not be made available to Participants who are Highly Compensated Employees in an amount greater than the amount made available to other Participants.
(d) All loans shall be adequately secured. A loan shall be deemed to be adequately secured if the aggregate amount of all such loans to a Participant does not exceed 50% of the Vested amount of the Participant's Account Balance at the time of the making of such loan.
(e) The period for repayment of a loan issued pursuant to this Article XII must, by the terms of the note, be for a period not less than one month nor exceed a period of five years. Notwithstanding the above, if the purpose or use of the loan, as determined at the time of issuance, is to acquire any dwelling unit which within a reasonable time is to be used as the principal residence of the Participant, the period for repayment of the loan may be extended to 25 years. Any outstanding loan balance may be prepaid in full on any Valuation Date without penalty. (Partial repayment is not permitted.)
(f) A Participant's Account will be charged a one-time non-refundable fee of $50 for initia...
Loan Terms and Conditions. Members may borrow the number of items specified for the category of their membership, generally for a period of three weeks, however, shorter loan periods may be applied to specific types of items or items in high demand. Loans may include any combination of items available for loan, subject to any restrictions placed on specific types of items. All items are borrowed at the member’s risk and the library accepts no responsibility for any damage caused to equipment as a result of use of library resources. Loans of items may be renewed once for a further three week period provided they are not already overdue for return, in high demand or have been placed on hold for another member. Loans may be renewed in person, by telephone or through the library online catalogue. Items can be returned to any of Council’s libraries, some of which have out of hours returns chutes that allow for the return of material when the library is closed. Parents/carers/guardians are responsible for their children’s selections and use of library items, services and facilities, including access to the internet and other technology.