Loan to Buyer Sample Clauses

Loan to Buyer. At the Closing, PDI shall commit to make a loan to the Buyer that will be funded by PDI within seven (7) business day from the Closing, in the principal amount of two hundred fifty thousand dollars ($250,000), which shall be evidenced by a promissory note in the form attached hereto as Exhibit A (the “Note”).
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Loan to Buyer. Jericho agrees to loan to Buyer the sum of $168,197.00, within five (5) days after the closing of a transaction (post merger) whereby CLEV acquires a business opportunity or asset unrelated to the Buyer’s concrete leveling business. These funds shall be used exclusively to satisfy outstanding liabilities of Buyer and to pay the xxxx for services to Buyer’s current auditor for all services rendered through the Closing Date. The funds shall not include any bills of the current auditor for work requested by CLEV for services performed after the Closing Date or services involved in the transition of the company’s books and records to a new auditor.
Sample 1
Loan to Buyer. Seller agrees that Buyer shall retain Seventy-Five Thousand Dollars ($75,000.00) of Seller's first accounts receivable collected by Buyer after the closing which shall be used by Buyer as working capital. Buyer shall have the use of said borrowed funds until November 30, 2004, interest free, when the borrowed funds will be due to be reimbursed to the Seller. Buyer's purchase of Seller's Accounts Receivable and Work in Process. After 90 days have expired from the date of closing, Buyer will make a lump- sum payment to Seller in an amount equal to the collections on accounts receivable (accounts receivable being those identified on Exhibit "B" attached hereto. However, of the amount of this payment, Buyer shall have the right to retain $75,000.00 to fund the loan referred to in the preceding paragraph. This payment shall be in addition to the amounts to be paid under "Consideration for Purchased Assets." In the event that Accounts Receivable (as they exist on the closing date) are collected more than 90 days after closing, then such sums shall be paid to Seller on May 31, 2004, or when the $75,000.00 loan in the preceding paragraph is paid, whichever is earlier. All collections on Accounts Receivable shall be applied first to the oldest account owed by the customer making such payment. After 90 days have expired from the date of closing, Buyer will make a lump-sum payment to Seller in an amount equal to one-half of the work in process as identified on Exhibit "B" attached hereto. This payment shall be in addition to the amounts to be paid under "Consideration for Purchased Assets."
Sample 1
Loan to Buyer. After the Closing, Credit Depot shall loan to Buyer up to $500,000, as, and to the extent, reasonably requested by Buyer to meet the requirements of its business. Nothing herein shall restrict Credit Depot from making other loans to Buyer which Credit Depot determines to be necessary or useful in connection with Buyer's business. Such loans shall bear interest at the rate of 10% per annum and shall be on commercially reasonable terms.
Sample 1
Loan to Buyer. At Closing, Seller shall make a loan in the amount of $4,000,000 (Four Million Dollars) by payment to Buyer by wire transfer of immediately available funds to a bank account designated by Buyer (the “Loan”). Buyer shall deliver to Seller a Subordinated Promissory Note for the full amount of the Loan in the form attached as Exhibit B. At Closing, Buyer shall deliver to Seller a security agreement securing the obligations due under the Promissory Note in the form attached as Exhibit E (the “Security Agreement”).
Sample 1

Related to Loan to Buyer

  • Loan to Value The maximum principal amount of the Loan does not exceed one hundred twenty-five percent (125%) of the aggregate fair market value of the Properties.

  • Loan-to-Value Ratio The fraction, expressed as a percentage, the numerator of which is the original principal balance of the related Mortgage Loan and the denominator of which is the Appraised Value of the related Mortgaged Property.

  • The Loan Section 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Loan Agreement, various currencies that shall have an aggregate value equivalent to the amount of one hundred million dollars ($100,000,000), being the sum of withdrawals of the proceeds of the Loan, with each withdrawal valued by the Bank as of the date of such withdrawal.

  • Loan Amount 4. ACCOUNT NAME(S) .............................................................................................................................................................................. BANK NAME / BRANCH ...................................................................................................................................................................

  • The Lender We can choose to assign or transfer any of our rights or obligations under this Agreement without your or the Guarantor’s specific consent, and each of our assignees and transferees has the same rights against you and the Guarantor under the Relevant Documents as if it were named in this Agreement as the Lender.

  • Purchase and Sale of the Mortgage Loans and Related Rights (a) Upon satisfaction of the conditions set forth in Section 10 hereof, the Mortgage Loan Seller agrees to sell, and the Purchaser agrees to purchase Mortgage Loans having an aggregate outstanding principal balance as of the Cut-off Date equal to the Cut-off Date Balance.

  • Term Loan Prepayments (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within three Business Days after receipt of the Net Cash Proceeds of a Debt Incurrence Prepayment Event (other than one covered by clause (iii) below) and within ten Business Days after the occurrence of any other Prepayment Event (or, in the case of Deferred Net Cash Proceeds, within ten Business Days after the Deferred Net Cash Proceeds Payment Date), prepay, in accordance with clause (c) below, Term Loans with an equivalent principal amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided that, with respect to the Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty Event or Permitted Sale Leaseback, in each case solely to the extent with respect to any Collateral, the Borrower may use a portion of such Net Cash Proceeds to prepay or repurchase Permitted Other Indebtedness (and with such prepaid or repurchased Permitted Other Indebtedness permanently extinguished) with a Lien on the Collateral ranking equal with the Liens securing the Obligations to the extent any applicable Permitted Other Indebtedness Document requires the issuer of such Permitted Other Indebtedness to prepay or make an offer to purchase such Permitted Other Indebtedness with the proceeds of such Prepayment Event, in each case in an amount not to exceed the product of (x) the amount of such Net Cash Proceeds multiplied by (y) a fraction, the numerator of which is the outstanding principal amount of the Permitted Other Indebtedness with a Lien on the Collateral ranking equal with the Liens securing the Obligations and with respect to which such a requirement to prepay or make an offer to purchase exists and the denominator of which is the sum of the outstanding principal amount of such Permitted Other Indebtedness and the outstanding principal amount of Term Loans.

  • Initial Loan The obligation of the Lender to make its initial Loan hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Loan, of the condition precedent that the Lender shall have received all of the following items, each of which shall be satisfactory to the Lender and its counsel in form and substance:

  • Term Loan Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the “Term Loan”) to the Borrower in Dollars on the Closing Date in an amount not to exceed such Lender’s Term Loan Commitment. Amounts repaid on the Term Loan may not be reborrowed. The Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, or a combination thereof, as further provided herein, provided, however, all Borrowings made on the Closing Date shall be made as Base Rate Loans.

  • Revolving Loan Prepayments (i) In the event of the termination of all the Revolving Commitments, Borrower shall, on the date of such termination, repay or prepay all its outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i).

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