Common use of Loan Amount Clause in Contracts

Loan Amount. Subject to the terms and conditions of this Agreement, on the Amendment No. 2 Closing Date, the Confidential portions of this document have been redacted and filed separately with the Commission. Lender shall make loans in the aggregate to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 if made directly to Borrowers; and (iii) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lender; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of payment."

Loan Amount. Subject to the terms and conditions of this Agreement, on the Amendment No. 2 date upon which all of the terms and conditions of the Documents have been met or fulfilled to the satisfaction of Lender (the "Closing Date"), the Confidential portions of this document have been redacted and filed separately with the Commission. Lender shall make loans in the aggregate to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 500,000.00 if made directly to Borrowers; and (iii) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds on demand to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lenderexcess; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of payment. Confidential Treatment Requested. Confidential portions of this document have been redacted and filed separately with the Commission."

Loan Amount. Subject to the terms and conditions of this Agreement, on the Amendment No. 2 Closing Date, the Confidential portions of this document have been redacted and filed separately with the Commission. Lender shall agrees: (A) to make loans in the aggregate to the Borrowers Borrower on a revolving basis (such loans being herein called individually a "“Revolving Loan" ” and collectively the "“Revolving Loans"”) from time to time in such amounts as the Borrowers Borrower may from time to time request plus have outstanding Approvals from time to time up to the lesser of (Ai) the Maximum Credit Amount; or (B) the sum of (iii) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (Ai) or (Bii) shall be referred to as the "“Line of Credit")”) at any time; provided, however, that (i1) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii2) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement5,000.00; and (b) $1,000.00 if made directly to Borrowers; and (iii3) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv4) if the Revolving Loans plus outstanding Approvals outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers Borrower shall pay (I) within three (3) Business Days if Lender modifies the Borrowing Base and/or what constitutes Eligible Accounts Receivable, Eligible Inventory and/or Eligible Vendor Repurchase Inventory in immediately available funds a manner that reduces Borrower’s availability under the Borrowing Base; or (II) in all circumstances other than described in subclause (I) of this clause (4) on demand to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lenderexcess; and (v5) the Lender's ’s commitment to make Revolving Loans and issue Approvals shall remain in effect for a period to and including the Termination Date; and (vi6) notwithstanding anything else contained in this Agreement, (aI) subject to the proviso at the end of this subclause (I), upon the occurrence and continuance of any Event of Default or any event which would, with the giving of notice, the passage of time, or both, result in an Event of Default, and in every such event, the Lender may, in its sole commercially reasonable discretion, immediately cease to make Revolving LoansLoans and issue Approvals; provided, further, that so long as the only Event of Default that exists or would exist with the giving of notice, the passage of time, or both, is the Event of Default set forth in Section 7.1(M) of this Agreement, for a period of thirty (30) days commencing with any Insecurity Date, Lender shall, subject to the terms and provisions of this Agreement, continue to make Revolving Loans and issue Approvals in an amount not to exceed the lesser of (x) the amount of all Revolving Loans plus outstanding Approvals on such Insecurity Date; or (y) the Borrowing Base; and (bII) Borrowers Borrower shall repay to the Lender on the Termination Date all Revolving Loans, plus the amount of all outstanding Approvals, plus interest accrued to the date of payment. SECTION 2.2."

Loan Amount. Subject to the terms City shall lend Property Owner and conditions of this Agreement, on the Amendment No. 2 Closing Date, the Confidential portions of this document have been redacted and filed separately with the Commission. Lender Property Owner shall make loans in the aggregate to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively the "Revolving Loans") borrow from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) City the sum of up to $83,006 $90,356.00; in the form of a no-interest, forgivable loan, the terms of which are contained in the promissory note attached hereto as Exhibit A (hereinafter “Façade Loan”). The Façade Loan shall be used solely for reimbursement of costs associated with the Property Owner’s approved complete façade renovation or replacement, more specifically described in the Property Owner’s application for funding (hereinafter “Project”). The Façade Loan will be disbursed to Property Owner, subject to the conditions of the Agreement, and provided the Property Owner has met and fully satisfied the following requirements: (i) this Agreement and the Borrowing Base from time to time, plus promissory note have been duly-executed by an authorized representative of Property Owner; (ii) personal guarantees have been duly-executed by each principal of the Overadvance from time to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 if made directly to BorrowersProperty Owner; and (iii) repayments from time Property Owner has satisfied the Conditions Precedent set forth in Section 2 of this Agreement. The Façade Loan shall be repaid to time City in one installment, without interest, ten years after the City distributes the Façade Loan to Property Owner (hereinafter “Façade Loan Repayment Date,” subject to the provisions of Section 3 of this Agreement. This Amendment may be executed in one or more facsimile, electronic or original counterparts, each of which shall be deemed an original and both of which together shall constitute the same instrument. All terms and provisions of the Line Agreement not amended hereby, either expressly or by necessary implication, shall remain in full force and effect. From and after the date of Credit this Amendment, all references to the term “Agreement” in this Amendment or the original Agreement shall also include the terms contained in this Amendment to the original Agreement. To the extent there should be available any conflict between the terms of the Agreement and this Amendment to be reborrowed pursuant to the Agreement, the terms and conditions provisions of this Agreement; Amendment shall govern and (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lender; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of paymentcontrol."

Loan Amount. Subject to the terms and conditions of this AgreementAgreement and the other Loan Documents, and in reliance upon the representations and warranties of the Borrower set forth herein and in the other Loan Documents, each of the Lenders agrees to make a term loan in an amount of such Lender’s Loan Amount as set forth on the Amendment No. 2 Closing Date, the Confidential portions signature pages of this document have been redacted and filed separately with Agreement (the Commission“Lender’s Loan Amount”). The Lender shall make loans the loan of the Lender’s Loan Amount at a closing of the transactions contemplated by this Agreement (each a “Closing” and, collectively, the “Closings” and the date on which any Closing takes place a “Closing Date”). The Borrower may hold one or more Closings on and after the date hereof through December 31, 2019, which date may be extended for up to 180 additional days at the joint election of the Guarantor and the Placement Agent. The proceeds of the Loans shall be funded into the Escrow Account and thereafter disbursed to the Borrower for working capital and general corporate purposes and for the acquisition of income producing retail and mixed-use properties and related transactional expenses in accordance with the budget or payment schedule attached hereto as Exhibit A (the “Approved Budget”) (subject to Permitted Budget Variances). The first $2,000,000 in net proceeds from the Loans and up to 49% of the balance of the proceeds from the Loans may be used by the Borrower or the Guarantor for general corporate and working capital purposes. Thereafter, a majority of the remaining proceeds (after the first $2,000,000 in proceeds) from the Loans that are deposited in the aggregate Escrow Account cannot be used by the Borrower or the Guarantor unless the Guarantor and the board of directors of the Guarantor resolve that the use of such proceeds is for the acquisition of a specific income producing retail and mixed-use property and related transaction expenses in accordance with the Approved Budget with Permitted Budget Variances therefrom and certify the same in writing to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" Escrow Agent and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 if made directly to Borrowers; and (iii) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lender; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of paymentPlacement Agent."