Infinet. On and after the date hereof, Borrower shall, and shall cause the applicable Borrower Subsidiary to, cause the ownership, operation and management of Infinet to be self-funded, separately operating, insured in a reasonable and customary manner and operating in accordance with the business plan delivered to Lender on or prior to the date hereof or as Lender may otherwise approve in writing from time to time thereafter. In furtherance of the foregoing, and subject to the terms of the Cash Management Agreement, Borrower shall be permitted to commit up to $1,000,000 to be invested by Borrower in Infinet, in the aggregate, from the proceeds of the Loan.
Appears in 1 contract
Sources: Loan Agreement (IMH Financial Corp)
Infinet. On and after the date hereof, Borrower shall, and shall cause the applicable Borrower Subsidiary to, cause the ownership, operation and management of Infinet to be self-funded, separately operating, insured in a reasonable and customary manner and operating in accordance with the business plan delivered to Lender on or prior to the date hereof or as Lender may otherwise approve in writing from time to time thereafter. In furtherance of the foregoing, and subject to the terms of the Cash Management AgreementAgreement and the Infinet Side Letter, Borrower shall be permitted to commit up to $1,000,000 to be invested by Borrower in Infinet, in the aggregate, from the proceeds of the Loan.
Appears in 1 contract
Sources: Loan Agreement (IMH Financial Corp)