The Loan Amount. Subject to the terms and conditions of this Agreement, the Note (as hereinafter defined), the Program Policy, and the Loan Application, ▇▇▇▇▇▇▇▇ agrees to take and ▇▇▇▇▇▇ agrees to make a loan in the principal amount of Seventy Five Thousand Dollars and no/100 ($75,000.00) or so much thereof as is disbursed to Borrower in accordance with this Agreement to finance all or a portion of the Loan Activities. If the costs of the Loan Activities exceed the amount of the Loan, such excess shall be the sole responsibility of Borrower. The Loan shall be evidenced by a promissory note (the “Note”), payable by Borrower to Lender and substantially in the form of Exhibit B attached to this Agreement, which shall be dated as of the date hereof (the “Loan Closing Date”). Proceeds of the Loan shall be disbursed in accordance with Section 3 hereof.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement