Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3): (a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on earlier to occur of the following (i) the date that the Millennium Distribution and the Millennium Contribution are made, to the extent they are made on the Second Closing Date or at anytime thereafter prior to the Eighteen Month Anniversary; and (ii) the Eighteen Month Anniversary if the Millennium Distribution and the Millennium Contribution are not made prior to the Eighteen Month Anniversary, at which time InvestCo or AcquisitionCo, as the case may be, shall have the right to call the guarantee granted by CCR under the CCR Guarantee Agreement and to foreclose on the Collateral granted under the CCR Pledge Agreement, and pursuant to such foreclosure, CCR shall issue such number of Preferred Units to AcquisitionCo equal to the ▇▇▇▇▇▇▇▇▇▇ Margin Number subject to the ▇▇▇▇▇▇▇▇▇▇ Margin Limit. (b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination. (c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination. (d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e) or 8.1(f) of the CUP Agreement for any reason other than a reason set forth in
Appears in 1 contract
Sources: Loan Agreement (OCM HoldCo, LLC)
Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3):
(a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on earlier to occur of the following
(i) the date that the Millennium Distribution and the Millennium Contribution are made, to the extent they are made on the Second Closing Date or at anytime thereafter prior to the Eighteen Month Anniversary; and
(ii) the Eighteen Month Anniversary if the Millennium Distribution and the Millennium Contribution are not made prior to the Eighteen Month AnniversaryDate, at which time InvestCo or AcquisitionCo, as the case may be, Borrower shall have exchange the right to call the guarantee granted by CCR under the CCR Guarantee Agreement and to foreclose on the Collateral granted under the CCR Pledge Agreement, and pursuant to such foreclosure, CCR shall issue such number Note for all of Preferred Units to AcquisitionCo equal to the ▇▇▇▇▇▇▇▇▇ ▇▇ Margin Number subject to the ▇▇▇Land Units by transferring such ▇▇▇▇▇▇▇ Margin Limit▇▇ Land Units to LandCo pursuant to the terms and conditions of the CUP Agreement as payment in full for all principal of the Loan.
(b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), ) or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, or if the CUP Agreement is Terminated pursuant to any of the aforementioned Sections as a result of the termination or expiration of the ▇▇▇▇▇▇▇▇▇▇ Purchase Agreement or failure of the ▇▇▇▇▇▇▇▇▇▇ Purchase to close, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination.
(c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), ) or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination.
(d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(f8.1(g) of the CUP Agreement for any reason other than a reason set forth inin Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.
Appears in 1 contract
Sources: Loan Agreement (OCM HoldCo, LLC)
Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3):
(a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on earlier to occur of the following
(i) the date that the Millennium Distribution and the Millennium Contribution are made, to the extent they are made on the Second Closing Date or at anytime thereafter prior to Date, immediately after the Eighteen Month Anniversary; and
(ii) making of the Eighteen Month Anniversary if the Millennium Distribution and the Millennium Contribution are not made prior to the Eighteen Month Anniversary, at which time InvestCo or AcquisitionCo, as the case may be, shall have the right to call the guarantee granted by CCR under the CCR Guarantee Agreement and to foreclose on the Collateral granted under the CCR Pledge Agreement, and pursuant to such foreclosure, CCR shall issue such number of Preferred Units to AcquisitionCo equal to the ▇▇▇▇▇▇▇▇▇▇ Margin Number subject to the ▇▇▇▇▇▇▇▇▇▇ Margin LimitNP Land Security Deposit.
(b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), ) or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, or if the CUP Agreement is Terminated pursuant to any of the aforementioned Sections as a result of the termination or expiration of the ▇▇▇▇▇▇▇▇▇▇ Purchase Agreement or failure of the ▇▇▇▇▇▇▇▇▇▇ Purchase to close, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination.
(c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), ) or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination.
(d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(f8.1(g) of the CUP Agreement for any reason other than a reason set forth inin Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.
Appears in 1 contract
Sources: Loan Agreement (OCM HoldCo, LLC)
Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3):
(a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on earlier to occur of the following
(i) the date that the Millennium Distribution and the Millennium Contribution are made, to the extent they are made on the Second Closing Date or at anytime thereafter prior to the Eighteen Month Anniversary; and
(ii) the Eighteen Month Anniversary if the Millennium Distribution and the Millennium Contribution are not made prior to the Eighteen Month AnniversaryDate, at which time InvestCo or AcquisitionCo, as the case may be, Borrower shall have exchange the right to call the guarantee granted by CCR under the CCR Guarantee Agreement and to foreclose on the Collateral granted under the CCR Pledge Agreement, and pursuant to such foreclosure, CCR shall issue such number Note for all of Preferred Units to AcquisitionCo equal to the ▇▇▇▇▇▇▇▇▇▇ Margin Number subject to the Units by transferring such ▇▇▇▇▇▇▇▇▇▇ Margin Limit.Units to AcquisitionCo pursuant to the terms and conditions of the CUP Agreement as payment in full for all principal of the Loan;
(b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination.
(c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f), or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination.
(d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e) or 8.1(f) of the CUP Agreement for any reason other than a reason set forth inin Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.
Appears in 1 contract
Sources: Loan Agreement (OCM HoldCo, LLC)