Establishment of Loan Sample Clauses

Establishment of Loan. Upon and subject to the terms and conditions of this Agreement, the Lender agrees and commits to provide a non-revolving convertible term loan (the "Loan") under which the Borrower may borrow up to the principal amount of $20,000,000 (the "Loan Limit"). On the Closing Date the Borrower shall draw down the Loan in an amount equal to $10,000,000 (the "Initial Advance"). Following the Initial Advance, the Borrower may from time to time borrow the remaining unadvanced portion of the Loan up to the Loan Limit by one or more Subsequent Advances in the minimum amount of $2,500,000, subject to the Loan Limit and satisfaction of the conditions precedent set forth in Section 6.2 including compliance with the financial covenant set forth in Section 8.4. The Loan shall be non-revolving and any amount repaid under the Loan may not be reborrowed.
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Establishment of Loan. Subject to the terms and conditions hereof, the Lender hereby establishes in favour of the Borrower a non-revolving term loan (the “Loan”) in the amount of Cdn. $25,000.00.
Sample 1
Establishment of Loan. Subject to the terms and conditions hereof, the Lender hereby establishes in favour of the Borrower a non-revolving term loan (the “Loan”) in the amount of One Hundred and Fifty Thousand Canadian Dollars (Cdn. $150,000.00).
Sample 1
Establishment of Loan. Subject to the terms and conditions of this agreement, NBD will extend a term loan to the Company in the original principal amount of $2,540,000 ("1995 Mortgage Loan"), to be evidenced by a Installment Business Loan Note in substantially the form of Exhibit 2.6 attached to the Second Amendment (together with any amendments, restatements, replacements or 2 renewals, the "1995 Term Note"). The 1995 Mortgage Loan will be repaid in 59 consecutive monthly installments of $14,111 plus interest and with a final balloon payment of $1,707,444 (assuming timely payment of prior installments) plus accrued but unpaid interest. NBD will be granted a mortgage on the Farmington Hills Property to secure the 1995 Term Note and any other amounts owed by the Company to NBD.
Sample 1
Establishment of Loan. The Borrower has requested that the Agent and the Lenders establish this credit facility in favor of the Borrower (the "Loan"), the proceeds of which shall be used by the Borrower to acquire and hold Project Bonds. The Agent and the Lenders have agreed to establish the Loan, upon and subject to the terms and conditions of this Loan Agreement.
Sample 1
Establishment of Loan. Upon and subject to the terms and conditions of this Agreement, the Lender agrees to provide a non-revolving term loan (the “Loan”) under which the Borrower may borrow up to the principal amount of $15,000,000 (the “Loan Limit”). On the Closing Date the Borrower shall draw down the Loan in an amount equal to $12,000,000 (the “Initial Advance”). Following the Initial Advance, the Borrower may borrow the remaining unadvanced portion of the Loan up to the Loan Limit by additional Advances in the minimum amount of $1,000,000, subject to satisfaction of the conditions precedent set forth in Section 6.2 including compliance with Section 8.4(c) relating to maximum Total Secured Debt following such Advance. The Loan shall be non-revolving and any amount repaid under the Loan may not be reborrowed.
Sample 1

Related to Establishment of Loan

  • Payment of Loan 1. The Loan Issuing Account The borrower shall open the following loan account with the lender through which the loan issuance and payment shall be handled. Account Name: Shengfeng Logistics Group Co., Ltd Account Number: **********

  • Disbursement of Loan Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Repayment of Loan 6.1.1 Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement.

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Payment of Loans The Borrower shall punctually pay the principal and interest on the Loans, and all other sums falling due hereunder or under any other documents executed in connection with the Loans, in accordance with the terms hereof and thereof.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Notes; Repayment of Loans (a) All Revolving Credit Loans made by a Lender to the Borrowers shall be evidenced by a single Revolving Credit Note, duly executed on behalf of the Borrowers, dated the Closing Date, in substantially the form of EXHIBIT B annexed hereto, delivered and payable to such Lender in a principal amount equal to its Revolving Credit Commitment on such date. The outstanding balance of each Revolving Credit Loan, as evidenced by any such Revolving Credit Note, shall mature and be due and payable on the Revolving Credit Termination Date if such date occurs earlier than the Conversion Date or, subject to the terms and conditions of this Agreement, including, without limitation, that no Default or Event of Default shall then exist, shall be converted to a Term Loan on the Conversion Date. The Term Loan made by a Lender on the Conversion Date shall be evidenced by a single Term Note, duly executed on behalf of the Borrowers, dated the Conversion Date, in substantially the form of EXHIBIT A annexed hereto, delivered and payable to such Lender in a principal amount equal to its PRO RATA share (based on its Revolving Credit Commitment) of the Revolving Credit Loans being converted on such date; PROVIDED, HOWEVER, that the failure of the Borrowers to deliver Term Notes pursuant to the provisions of this Section shall not affect the liability of the Borrowers to repay the amount of Revolving Credit Loans being converted.

  • Prepayment of Loan Section 10.1 Options to Prepay Loan 28 Section 10.2 Additional Option to Prepay Loan 29 Section 10.3 Obligations to Prepay Loan 29 Section 10.4 Notice of Prepayment; Redemption Procedures 31 Section 10.5 Relative Position of this Article and Indenture 31 Section 10.6 Concurrent Discharge of First Mortgage Bonds 31 ARTICLE XI

  • Indemnities regarding borrowing and repayment of Loan The Borrowers shall fully indemnify the Agent and each Lender on the Agent’s demand and the Security Trustee on its demand in respect of all claims, expenses, liabilities and losses which are made or brought against or incurred by that Creditor Party, or which that Creditor Party reasonably and with due diligence estimates that it will incur, as a result of or in connection with:

  • Type of Loan 1.1 The type of Loan is short-term working capital loan.

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