Source of Repayment Sample Clauses
The 'Source of Repayment' clause defines the specific means or assets from which a borrower will repay a loan or financial obligation. Typically, this clause identifies primary sources such as cash flow from business operations, proceeds from asset sales, or refinancing arrangements. By clearly outlining where repayment funds will originate, the clause provides assurance to the lender and helps manage risk by ensuring there is a realistic and identifiable plan for satisfying the debt.
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Source of Repayment. (a) Notwithstanding any other provision of this Agreement, the parties agree that the assets and liabilities of each Borrower are separate and distinct from the assets and liabilities of each other Borrower, and to the extent a Borrower is a series of a Delaware LLC, a Trust or a Maryland corporation, such Delaware LLC, such Trust or such Maryland corporation and each other series of that Delaware LLC, Trust or Maryland corporation, as the case may be, and that no Borrower, and to the extent a Borrower is a series of a Delaware LLC, a Trust or a Maryland corporation, no such Delaware LLC, such Trust or such Maryland corporation and no other series of that Delaware LLC, Trust or Maryland corporation, as the case may be, shall be liable or shall be charged for any debt, obligation, liability, fee or expense arising under this Agreement or out of or in connection with any transaction other than one entered into by or on behalf of itself. The Borrowers shall (i) as provided in Section 3.1(d), (ii) to the extent feasible, at least five Business Days in advance of a date on which a payment in respect of a debt, obligation, liability, fee or expense arising hereunder (other than principal of or interest on a Loan) shall be due and payable and (iii) upon request of the Administrative Agent or at any time at the option of the Borrowers, cause to be provided to the Administrative Agent an Allocation Notice; provided, however, should the Borrowers fail to deliver to the Administrative Agent an Allocation Notice with respect to such amounts within five Business Days following a request for the same by the Administrative Agent, the Borrowers shall be severally liable therefor to the Administrative Agent and/or the Banks in the proportion set forth in the Allocation Notice most recently delivered to the Administrative Agent.
(b) With respect to each Trust that is a “Massachusetts Business Trust”, the parties hereto acknowledge that the Trust Agreement for such Trust is on file with the Secretary of the Commonwealth of The Commonwealth of Massachusetts and the Clerk of the City of Boston. With respect to each Trust, the parties hereby agree that this Agreement is not executed on behalf of the trustees of such Trust as individuals; that the obligations of any Borrower of such Trust under this Agreement and any claims, obligations or liabilities arising hereunder are not binding on any of the trustees, officers or shareholders of such Trust individually but are binding upo...
Source of Repayment. (a) Notwithstanding any other provision of this Agreement, the parties agree that the assets and liabilities of each series of a Trust are separate and distinct from the assets and liabilities of each other series of that Trust and that no series of a Trust shall be liable or shall be charged for any debt, obligation, liability, fee or expense arising under this Agreement, the Notes or out of or in connection with any transaction other than one entered into by or on behalf of itself. The Funds shall (i) as provided in Section 4.1(g), (ii) to the extent feasible, at least five (5) Business Days in advance of a date on which a payment in respect of a debt, obligation, liability, fee or expense arising hereunder (other than principal of or interest on a Loan) shall be due and payable and (iii) upon request of the Agent, cause to be provided to the Agent an Allocation Notice; provided, however, should the Funds fail to deliver to the Agent an Allocation Notice with respect to such amounts within five Business Days following a request for the same by the Agent, the Funds shall be liable therefor to the Agent and/or the Banks in the proportion set forth in the Allocation Notice most recently delivered to the Agent.
(b) The parties hereto acknowledge that the Trust Agreement for each Trust is on file with the Secretary of State of The Commonwealth of Massachusetts and the Clerk of the City of Boston. With respect to each Trust, the parties hereby agree that this Agreement is not executed on behalf of the trustees of such Trust as individuals; that the obligations of any Fund of such Trust under this Agreement, its Notes and any claims, obligations or liabilities arising hereunder are not binding on any of the trustees, officers or shareholders of such Trust individually but are binding upon only the assets and property of such Fund; and that no Fund or series of a Trust will be held liable for the obligations or liabilities of any other Fund or series of that Trust.
(c) Nothing in this Section 2.14 shall affect the Banks' rights against Adviser Persons as provided in Section 1.5.
Source of Repayment. A re-employed Participant may make repayment from any source, including an ▇▇▇ Rollover Contribution, permissible under Applicable Law.
Source of Repayment. 13 2.7 Extension of Scheduled Termination Date........................................................ 13
Source of Repayment. If the Borrower does not, at any time, have sufficient funds to pay any Obligations when due, it will be able to obtain funds from its subsidiaries in such amounts, and at such times, to enable it to pay such Obligations.
Source of Repayment. (a) Notwithstanding any other provision of this Agreement, the parties agree that the assets and liabilities of each Borrower, are separate and distinct from the assets and liabilities of each other Borrower, and to the extent a Borrower is a series of a Trust or a Maryland corporation, each other series of that Trust or Maryland corporation, as the case may be, and that no Borrower, and to the extent a Borrower is a series of a Trust or a Maryland corporation, no other series of that Trust or Maryland corporation, as the case may be, shall be liable or shall be charged for any debt, obligation, liability, fee or expense arising under this Agreement or out of or in connection with any transaction other than one entered into by or on behalf of itself. The Borrowers shall (i) as provided in Section 3.1(d),
Source of Repayment. 12.1.1 The financial source of the Borrower for repaying the loan principal and interest hereunder include, without limitation:
(1) Operating incomes ;
Source of Repayment. Borrower is obligated to supply 50 percent or more of related borrower’s annual gross receipts, and reliance on the income from one another is such that the debt service of the related borrower could not be met if income flow from the borrower is interrupted or terminated. Commingled Operations: Assets or operations of the borrowers are commingled and cannot be separated without materially impacting the borrowers’ repayment ca- pacity The borrower owns 50 percent or more of the stock of the related bor- rower. The borrower owns or has the power to vote 25 percent or more of the voting stock of a related borrower, and (1) Shares a common directorate or management with a related bor- rower, or (2) Controls the election of a majority of directors of a related borrower, or (3) Exercises a controlling influence over management of a related bor- rower’s operations through the provisions of management placement or marketing agreements, or providing services such as insurance carrier or bookkeeping. No. Yes. Yes. Yes. Yes. [58 FR 40321, July 28, 1993, as amended at 62 FR 51015, Sept. 30, 1997. Redesignated and amend- ed at 64 FR 34517, June 28, 1999]
(a) Each loan, except loans that are grandfathered under the provisions of § 614.4361, shall be in compliance with the lending and leasing limit on the date the loan is made, and at all times thereafter. Except as provided for in paragraph (b) of this section, loans which are in violation of the lending and leasing limit shall comply with the provisions of § 615.5090 of this chapter.
(b) Under the following conditions a loan that violates the lending and leas- ing limit shall be exempt from the pro- visions of § 615.5090 of this chapter:
(1) A loan in which the total amount of principal outstanding and undisbursed commitments exceed the lending and leasing limit because of a decline in permanent capital after the loan was made.
(2) Loans on which funds are ad- vanced pursuant to a commitment that was within the lending and leasing limit at the time the commitment was made, even if the lending and leasing limit subsequently declines.
(3) A loan that exceeds the lending and leasing limit as a result of the con- solidation of the debt of two or more borrowers as a consequence of a merger or the acquisition of one borrower’s op- erations by another borrower. Such a loan may be extended or renewed, for a period not to exceed 1 year from the date of such merger or acquisition, dur- ing which period the institution may advan...
Source of Repayment. A re-employed Participant may make repayment from any source, including an IRA Rollover Contribution, permissible under Applicable Law.
Source of Repayment. Borrower’s Loan (ID [●]) issued to the Borrower