Convertible Loan. 2.1 Subject to the terms and conditions of this Agreement, the Lender shall lend to the Borrower, the Convertible Loan.
Convertible Loan. (a) The Investor hereby agrees to lend to Kaixin the Aggregate Principal Amount (the “Convertible Loan”) and on the applicable Closing Date will transfer the First Principal Amount and the Second Principal Amount, as applicable, to the following bank account of Kaixin (the “Bank Account”): Beneficiary Name: Kaixin Auto Group Beneficiary Account number: 8003098327 Bank Routing Number (domestic wires): 300000000 Bank Swift Code (international wires): EXXXXX00XXX Bank Name: East West Bank Bank Address: 100 X. Xxx Xxxxxx Xxx, Suite 600, Pasadena, CA 91101 Kaixin shall issue to the Investor a signed acknowledgment of receipt of the relevant amount within five (5) Business Days of the applicable Closing Date.
Convertible Loan. (a) The Investor hereby agrees to lend to Kaixin US$1,000,000 (One Million United States Dollars) (the “Convertible Loan”) on the Closing Date and on the Closing Date will transfer such amount to the following bank account of Kaixin (the “Bank Account”): Beneficiary Name: Kaixin Auto Group Beneficiary Account number: 8003098327 Bank Routing Number (domestic wires): 300000000 Bank Swift Code (international wires): EXXXXX00XXX Bank Name: East West Bank Bank Address: 100 X. Xxx Xxxxxx Xxx, Suite 600, Pasadena, CA 91101 Kaixin shall issue to the Investor a signed acknowledgment of receipt of the Convertible Loan within five (5) Business Days of the Closing Date.
Convertible Loan. 1.1 Each of the Investors agrees to lend to the Company the amount set forth opposite its name in Exhibit A hereto (the “Investment Amount”), for an aggregate amount of $1,250,000 hereunder (the “Loan”), subject to the terms and conditions of this Agreement.
Convertible Loan. Lender hereby acknowledges and consents to the advance of additional funds by the Convertible Loan Lenders to Borrower pursuant to the terms of the Convertible Loan Agreement or any amendment or supplement thereto, which additional funds shall be secured by a lien subordinate to Lender's lien on Borrower's assets, in accordance with the terms of the Intercreditor Agreement in all respects.
Convertible Loan. The Lender shall loan to the Borrower the sum of $150,000 (the “Loan”), the proceeds of which shall be used to fund the to fund the acquisition of a license and development of a retail cannabis outlet by the Borrower’s wholly-owned subsidiary, Natural Recreation (“Natural Recreation”), in Kitimat, BC, Canada. The loan shall have a term of nine (9) months from December 11, 2018 (“Maturity Date”) and shall bear interest at a rate of five percent (5%) per annum. All principal and accrued interest shall be payable at the Maturity Date. At the Maturity Date, the Lender may, at it’s sole option, convert the Loan into an equity interest in Natural Recreation in accordance with the terms of Section 2, below, or the Parties will undertake to negotiate in good faith to convert the loan to a term loan to be repaid on a schedule mutually agreed by the Parties. There is no penalty for the early payment of the Loan.
Convertible Loan. Subject to and upon the terms and conditions hereof, the US Series D Investor agrees to provide the Company with such amount of loan set forth opposite its name under the heading “Convertible Loan” (the “Convertible Loan”) in Schedule A-2 attached hereto, at the CB Closing (as defined in Section 2.3(a)).
Convertible Loan. Subject to the terms and conditions of this Agreement, and based and relying upon the representations, warranties and covenants of Curis set forth herein, Taseko agrees that it shall advance the Principal Amount of the Convertible Loan to Curis as follows:
Convertible Loan. The Banks agree, upon the terms and subject to the conditions hereinafter set forth, severally in accordance with their respective Percentage Interests and Commitments to make revolver loans and issue Letters of Credit from time to time on or after the Closing Date to the Borrowers jointly, the unpaid principal balance of which revolver loans is automatically convertible to a seventy-two (72) month term loan on the Conversion Date ("Convertible Loan") in an amount equal to the lesser of the unpaid principal balance of the Convertible Note on the Conversion Date (including without limitation, draws on Letters of Credit issued hereunder or on the Letter of Credit Note), or the Collateral Borrowing Base as defined in Section 3.1 hereof, proceeds of which Convertible Loan advances shall be requested only for the limited purposes hereinafter described. Each Convertible Loan requested by the Borrowers from the Banks from the Closing Date until the Conversion Date shall (i) be requested in writing by Middle Bay (as agent on behalf of all of the Borrowers) pursuant to a Convertible Loan Advance Request, the form of which is annexed hereto as Exhibit A, no later than 12:00 noon (applicable current time in Tulsa, Oklahoma) on the date upon which the advance is to be made, (ii) be in the amount of $10,000.00 or an integral multiple thereof (unless the amount then available to borrow is less than $10,000.00, in which event an advance may be made in the amount available); (iii) not cause the aggregate outstanding and unpaid principal amount of the Convertible Note to exceed the Collateral Borrowing Base; and (iv) be advanced by the Banks on the applicable date, provided the request is timely made in accordance with Section 2.1(i) hereof and all other conditions of funding are met. All advances made by the Banks shall, for mutual convenience, be deposited to Borrowers' general deposit account No. 207928428 with the Administrative Agent (the "General Account"). The Banks shall have no responsibility to monitor the distribution of such advances in any other respect. The Borrowers may reborrow subject to the limitations and conditions for the Convertible Loan contained herein. All advances made by the Banks on the Convertible Note (including the payment of drafts drawn on Letters of Credit) and all payments or prepayments of principal and interest thereon made by the Borrowers shall be recorded by the Administrative Agent in its records, and the aggregate unpaid principal ...
Convertible Loan. Upon the Conversion Effective Date, any portion of the Tranche One Commitment then outstanding shall automatically and immediately convert into a convertible loan subject to the Conversion Provisions, on the terms and conditions applicable to a convertible loan set forth herein, without any further action or the delivery of any Instrument, effective on and as of the Conversion Effective Date. On and after the Conversion Effective Date, any portion of the Commitment advanced as a Loan shall be advanced as a convertible loan and the Loan will be convertible into Tradable Shares in accordance with the Conversion Provisions.
