Common use of Additional Loans Clause in Contracts

Additional Loans. The Lender acknowledges and agrees that the Borrower may obtain additional loans from other lenders (the “Additional Lenders”) up to a maximum additional principal amount of $2,500,000.00 (the “Additional Loans”) on terms substantially similar to those contained herein. The Lender acknowledges and agrees that the payment obligations in respect of the Loan and any Additional Loans shall rank at all times, pari passu, and the security granted by the Borrower to any Additional Lenders as security for any Additional Loans shall rank at all times, pari passu, with the security created by the Security Documents, subject to and in accordance with an intercreditor agreement to be entered into among the Lender and the Additional Lenders, in a form acceptable to the Borrower and the Lender, each acting reasonably.

Additional Loans. The Lender acknowledges and agrees that the Borrower may obtain additional loans from other lenders (the “Additional Lenders”) up to a maximum additional principal amount of $2,500,000.00 2,000,000.00 (the “Additional Loans”) on terms substantially similar to those contained herein. The Lender acknowledges and agrees that the payment obligations in respect of the Loan and any Additional Loans shall rank at all times, pari passu, and the security granted by the Borrower to any Additional Lenders as security for any Additional Loans shall rank at all times, pari passu, with the security created by the Security Documents, subject to and in accordance with an intercreditor agreement to be entered into among the Lender and the Additional Lenders, in a form acceptable to the Borrower and the Lender, each acting reasonably.