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NE Ridger

Posted 7/31/2014 15:23 (#3995119 - in reply to #3995047)
Subject: RE: How do you "call" a loan?

EC Nebraska

Boone & Crockett - 7/31/2014 14:23

NE Ridger - 7/31/2014 14:10

So what loans are they considering calling? They can't call a loan unless payments are missed. Are guys behind on payments already!?!?

its called the "demand clause" of the agreement. Lots of loans have them, and yours probably do too. I went thru that in '85; was current on payments but balance sheet dropped like a rock from land I purchased in '81. Was a very hard pill to swallow.

Ok, I read over my notes. The operating note has a definition of default that basically means they can call it whenever they want. I hadn't realized that. My land loan does not, I had asked my lawyer about that when we did the deal and reading back through it now I'm pretty sure there's nothing there that would let them call it unless I missed a payment.

So my operating loan can be called at anytime. Is that what bankers are talking about already? It seems like an odd time for that. Most of the money for the crop is spent already, may as well wait until the combines roll and there's grain checks to go after.

Or do machinery loans have demand clauses as well?

Edited by NE Ridger 7/31/2014 15:24

Lowering Costs In A Down Market - Varment : 7/31/2014 08:29
- RE: Lowering Costs In A Down Market - Barker : 7/31/2014 08:45
  - RE: Lowering Costs In A Down Market - dittfarms : 7/31/2014 11:08
    - RE: Lowering Costs In A Down Market - countryraised : 7/31/2014 12:10
- RE: Lowering Costs In A Down Market - mjl : 7/31/2014 08:46
- RE: Lowering Costs In A Down Market - bad farmer : 7/31/2014 08:47
  - RE: Lowering Costs In A Down Market - Foliardud : 7/31/2014 08:53
    - RE: How do you "call" a loan? - NE Ridger : 7/31/2014 14:10
      - RE: How do you "call" a loan? - Boone & Crockett : 7/31/2014 14:23
        
        RE: How do you "call" a loan? - mjl : 7/31/2014 14:31
        RE: How do you "call" a loan? - NE Ridger : 7/31/2014 15:23
        
        RE: How do you "call" a loan? - Brandon SWIA : 7/31/2014 16:30
        
        RE: How do you "call" a loan? - dvswia : 7/31/2014 19:12
        In addition, banks would have to show that circumstances....... - jakescia : 7/31/2014 19:25
        
        RE: In addition, banks would have to show that circumstances....... - Brandon SWIA : 7/31/2014 19:39
        
        RE:There are reasons. . . - NE Ridger : 7/31/2014 21:31
        
        RE:There are reasons. . . - Clay SEIA : 7/31/2014 23:09
        
        RE:There are reasons. . . - Brandon SWIA : 7/31/2014 23:31
        
        RE:There are reasons. . . - Clay SEIA : 7/31/2014 23:48
        
        RE:There are reasons. . . - Brandon SWIA : 8/1/2014 00:02
- RE: Lowering Costs In A Down Market - paul the original : 7/31/2014 08:49
- RE: Lowering Costs In A Down Market - AGB : 7/31/2014 08:53
  - RE: Lowering Costs In A Down Market - denny-o : 7/31/2014 09:28
    - RE: Lowering Costs In A Down Market - AGB : 7/31/2014 09:31
      - RE: Lowering Costs In A Down Market - tkoppel : 7/31/2014 12:10
    - RE: Lowering Costs In A Down Market - bad farmer : 7/31/2014 09:34
      - RE: Lowering Costs In A Down Market - denny-o : 7/31/2014 16:40
        
        RE: Lowering Costs In A Down Market - bad farmer : 7/31/2014 18:45
    - RE: Lowering Costs In A Down Market - Big Ben : 7/31/2014 10:05
      - RE: Lowering Costs In A Down Market - denny-o : 7/31/2014 16:02
        
        RE: Lowering Costs In A Down Market - Big Ben : 7/31/2014 17:48
        
        RE: Lowering Costs In A Down Market - rupert : 7/31/2014 21:49

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