Bridge Loans Clause Samples

Bridge Loans. Subject to the terms and conditions set forth herein and in reliance upon the representations and warranties set forth herein, each Lender severally, and not jointly, agrees to make loans in Sterling to Company from time to time during the Certain Funds Period, in an amount not to exceed its Pro Rata Share of the total Commitments of the Lenders (each such Loan by any Lender, a “Bridge Loan” and collectively, the “Bridge Loans”). All Bridge Loans comprising the same Borrowing hereunder shall be made by the Lenders simultaneously and in proportion to their respective Commitments. Amounts borrowed under this Section 2.1(a) and repaid or prepaid may not be reborrowed.

Bridge Loans. Parent shall comply with its obligations under the Bridge Loan Documentation.

Bridge Loans. The Borrowers shall, jointly and severally, subject to Section 2.06 (f), pay interest on the unpaid principal amount of each Bridge Loan made by each Bridge Lender to it from the date of such Bridge Loan until such principal amount shall be paid in full, at the following rates per annum: (i) 16% from the Closing Date through April 6, 2009; (ii) 18% from April 7, 2009 through July 6, 2009; (iii) 20% from July 7, 2009 through October 6, 2009; and (iv) 22% thereafter; provided that, in addition to the interest set forth in clauses (b)(i), (b)(ii), (b)(iii), and (b)(iv) above, (A) in the event that, upon payment in full, subject to Section 6.14, of the Charter Bridge Loans, the cumulative interest accrued in respect of the Charter Bridge Loans is less than $1,250,000.00 (the “Minimum Amount of Charter Interest”), then the Borrowers shall, to the extent permitted by Section 6.14, jointly and severally pay the Administrative Agent for the ratable account of the Lender or Lenders holding Charter Bridge Loans an amount equal to the difference between the Minimum Amount of Charter Interest and the amount of interest actually accrued and paid under this Agreement on the Charter Bridge Loans, and (B) in the event that, upon payment in full, subject to Section 7.06, of the Other Bridge Loans, the cumulative interest accrued in respect of the Other Bridge Loans is less than $1,620,000.00 (the “Minimum Amount of Other Bridge Lenders’ Interest”), then the Borrowers shall, to the extent permitted by Section 7.06, jointly and severally pay the Administrative Agent for the ratable account of the Lender or Lenders holding Other Bridge Loans an amount equal to the difference between the Minimum Amount of Other Bridge Lenders’ Interest and the amount of interest actually accrued and paid under this Agreement on the Other Bridge Loans.

Bridge Loans. The Administrative Agent shall have received reasonably satisfactory evidence that, concurrently with the occurrence of the Closing Date, the “Closing Date” (under and as defined in the Bridge Loan Agreement) shall have occurred and the Borrower shall have received gross cash proceeds from the extensions of credit under the Bridge Loan Agreement of not less than $465,000,000.

Bridge Loans. Subject to all of the terms and conditions hereof, during the period from and including November 12, 1999, to but not including January 31, 2000 (the "Bridge Loan Period"), Bank of Montreal ("BOM") agrees to make loans (the "Bridge Loans", the Bridge Loans to constitute Loans for all purposes of the Loan Documents except that such Loans shall only be made by BOM and no other Bank shall have any obligation to fund any part thereof or purchase a participation therein) to the Borrower under a short-term bridge loan facility in an aggregate amount at any one time outstanding not to exceed (i) $3,000,000 through the period ending December 2, 1999, and (ii) $4,400,000 at all times thereafter (the "Bridge Loan Commitment"); provided, however, that Bridge Loans shall be available to the Borrower only if and so long as the Revolving Credit Commitments of the Banks are fully utilized and the maximum amount of Loans thereunder are outstanding. Bridge Loans may be availed of by the Borrower from time to time during the Bridge Loan Period and borrowings thereunder may be repaid and used again through but not including the last day of the Bridge Loan Period, at which time the Bridge Loan Commitment shall expire. The Borrower hereby promises to pay all Bridge Loans (both for principal and interest) on the last day of the Bridge Loan Period, the final maturity thereof. BOM's obligation to make any Bridge Loan shall be subject to the further condition that all conditions set forth herein and in Section 7.2 shall have been satisfied (with all references to a Borrowing therein to be deemed a reference to an advance of a Bridge Loan). Advances of Bridge Loans shall also be subject to the notice requirements for Borrowings under the terms of Section 1.6 of this Agreement. BOM shall maintain on its internal records an account evidencing the indebtedness of the Borrower to BOM owing to it in respect of the Bridge Loans, including the principal amount of the Bridge Loans made by it and the interest thereon and each repayment and prepayment in respect thereof. Any such recordation shall be conclusive and binding on the Borrower, absence manifest error; provided, that the failure to make any such recordation, or any error in such recordation, shall not affect the Borrower's obligation to repay all principal and interest in respect of the Bridge Loans. Upon request by BOM, the Borrower shall execute and deliver to BOM a promissory note to evidence the Bridge Loans (the "Bridge Loan ...

Bridge Loans. Subject to the terms and conditions hereinafter set forth, upon written request of the Company given at least three (3) Business Days prior to the date on which the Borrowers seek a loan from Parent, which date shall be specified in such written request, Parent will make loans (each a “Loan” and collectively, the “Loans”) to the Borrowers from time to time in an amount not to exceed $2,000,000 per month; provided, however, that the aggregate original principal amount of all Loans to be made hereunder shall not exceed the Maximum Loan Amount and no Loans shall be made after March 15, 2010.

Bridge Loans. Debtor shall not incur any indebtedness for borrowed money or lease obligations (collectively, “Bridge Loans”) from any of its officers, directors or shareholders (collectively, “Bridge Loan Lenders”) unless each of the Bridge Loan Lenders have executed and delivered subordination agreements in favor of Secured Party, in form satisfactory to Secured Party, which subordinate all of the Bridge Loans to the Indebtedness, and which permit repayment of the Bridge Loans from the proceeds of new equity investments and loans.

Bridge Loans. The Company shall extent an interest-free loan to the Executive of up to $100,000 (the "Bridge Loan") on (i) at least 10 business days prior written notice from the Executive and (ii) execution by the Executive of a mutually acceptable unsecured promissory note evidencing the Bridge Loan. The entire amount of the Bridge Loan shall mature and become due and payable upon the earlier of (i) June 9, 1999 or (ii) termination of the Executive's Employment hereunder for any reason. At the option of the Executive or the Company, the Bridge Loan may be repaid in accordance with the terms hereof out of, or offset against, any bonus or other amount payable to the Executive hereunder.. .

Bridge Loans. The Total Bridge Loan Commitment on the Closing Date is $18,632,891.16.