In addition to paying a $5 million salary for each of the remaining six years on his deal, Michigan also will loan Harbaugh $4 million in 2016 and an additional $2 million for the following five years.
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institution as collateral security for a loan):6 o The loan must come from a financial institution, such as a bank, trust company, credit union or insurance company, not from a source that isn’t in the business of lending money, like a relative or friend.
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Definition of premium loan: A loan provided to the insured by the insurer. The loan is made in order to pay a premium and the cash value of the insurance policy is.
An automatic premium loan is an insurance policy provision that lets an insurer deduct an outstanding premium from the cash value of a policy.
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The loan was collateralized by seven assets and represents a 60% advance rate against base investment basis in the collateral. Source: SAFE Investor Presentation SAFE has $227 million of long-term.
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