Common use of Covenant Required Clause in Contracts

Covenant Required. Section 6.17(b) On or before February 7, 2017, an executed letter of intent with respect to a proposed financing by [***] or one or more of its affiliates (or another lender reasonably acceptable to Lender) of one or more of the Loan Parties providing for a senior credit facility secured by current assets of at least $10,000,000, permitting a separate senior financing secured by certain other long term assets and general intangibles of not less than $7,000,000 provided by [***] or another lender reasonably acceptable to Lender, and providing for targeted a closing date of no later than March 31, 2017

Covenant Required. Section 6.17(b) On or before February 7, 2017, an executed letter of intent with respect to a proposed financing by [***] Bridge Bank or one or more of its affiliates (or another lender reasonably acceptable to Lender) of one or more of the Loan Parties providing for a senior credit facility secured by current assets of at least $10,000,000, permitting a separate senior financing secured by certain other long term assets and general intangibles of not less than $7,000,000 provided by [***] Fortress Credit Corp. or another lender reasonably acceptable to Lender, and providing for targeted a closing date of no later than March 31, 2017