Ongoing Loans Sample Clauses

Ongoing Loans. As conditions precedent to the Lender's obligation to make any Loan hereunder, including the first Loan and including the conversion of any Loan to another type of Loan, at and as of the date of advance, conversion or continuance thereof; (1) There shall have been delivered to the Lender a Loan Request therefor; (2) The representations and warranties of the Companies or either of them contained in the Credit Documents shall be accurate and complete in all respects as if made on and as of the date of such advance, conversion or continuance; (3) There shall not have occurred an Event of Default or Potential Default; (4) Following the funding of the requested Loan, the aggregate principal amount of Loans outstanding will not exceed the lesser of: (i) the Credit Limit and (ii) the Collateral Value of the Borrowing Base; (5) There shall not have occurred any material adverse change in the financial condition, assets, nature of assets, operations or prospects of the Companies taken as a whole or either of them from that represented in this Agreement, the other Credit Documents, or the documents or information furnished to the Lender in connection herewith or therewith; and (6) The Required Documents for the Mortgage Loan(s) being funded therewith shall have been received by the Lender (except as otherwise provided in subsection (o) of the definition of Eligible Mortgage Loan). By making a Loan Request to the Lender hereunder, the Companies shall be deemed to have represented and warranted the accuracy and completeness of the statements set forth in subparagraphs (b)(2) through (b)(6) above.
View SourceView Similar (7)
Ongoing Loans. As conditions precedent to each Lender's ------------- obligation to make any Loan hereunder, including the first Loan and including the conversion of any Loan to another type of Loan or the continuation of any Eurodollar Loan after the end of the applicable Interest Period, at and as of the date of advance, conversion or continuance thereof; (1) There shall have been delivered to the Administrative Agent a Loan Request therefor; (2) The representations and warranties of the Companies contained in the Credit Documents shall be accurate and complete in all material respects as if made on and as of the date of such advance, conversion or continuance; (3) There shall not have occurred an Event of Default or Potential Default which has not been waived pursuant to Paragraph 11(b) hereof by the requisite number of Lenders; (4) Following the funding of the requested Loan: (i) the sum of the aggregate principal amount of Tranche A Loans outstanding plus the aggregate principal amount outstanding of Swing Line Loans which have been identified by the Companies in the applicable Loan Request as being scheduled for repayment by Tranche A Loans will not exceed the lesser of: a. the Aggregate Tranche A Credit Limit and b. the Collateral Value of the - - Tranche A Borrowing Base, (ii) the sum of the aggregate principal amount of Tranche B Loans outstanding plus the aggregate principal amount outstanding of Swing Line Loans which have been identified by the Companies in the applicable Loan Request as being scheduled for repayment by Tranche B Loans will not exceed the lesser of: a. the Aggregate Tranche B Credit - Limit and b. - the Collateral Value of the Tranche B Borrowing Base, (iii) the aggregate principal amount of Loans outstanding advanced by any Lender will not exceed its Maximum Commitment, and (iv) the aggregate principal amount of all Loans outstanding will not exceed the Aggregate Facility Commitment; (5) The Required Documents for the Mortgage Loans being funded with the proceeds of such Loan shall have been received by the Collateral Agent (except as otherwise provided in subparagraph (o) of the definition of "Eligible A/B Mortgage Loan"); (6) The maximum amount which may be outstanding at any time as Tranche A Loans and Tranche B Loans under the Facility II Agreement is outstanding; and (7) If the Administrative Agent is being requested to include any Mortgage Loan being funded with a Tranche A Loan or a Tranche B Loan as an Eligible A/B Mortgage Loan purs...
View SourceView Similar (5)
Ongoing Loans. As conditions precedent to any Lender's obligation to make any Loan hereunder, including the first Loan and including the conversion of any Loan to another type of Loan or the continuation of any Eurodollar Rate Loan after the end of an Interest Period, at and as of the date of advance, conversion or continuance thereof; (1) There shall have been delivered to the Administrative Agent a Loan Request therefor; (2) The representations and warranties of the Company and Guarantors contained in the Credit Documents shall be accurate and complete in all respects as if made on and as of the date of such advance, conversion or continuance; (3) There shall not have occurred an Event of Default or Potential Default, and the making of such Loan
View Source
Ongoing Loans. As conditions precedent to the Lender's obligation or agreement to make any Revolving Loan hereunder, including the first Revolving Loan, and to fund the Term Loan, and including the conversion of any Loan from or into a Eurodollar Loan or the continuation of any Eurodollar Loan after the end of the applicable Interest Period, at and as of the date of the funding, conversion or continuation: (1) There shall have been delivered to the Lender a Loan And/Or Interest Rate Election Request therefor; (2) The representations and warranties of the Company and the Parent contained in the Loan Documents shall be accurate and complete in all respects as if made on and as of the date of such funding, conversion or continuance; (3) There shall not have occurred an Event of Default or Potential Default; (4) In the case of the funding of each Revolving Loan, the Lender shall have determined that upon the funding thereof the Company will be in compliance with the limitation of Paragraph 1(a) above; and
View Source
Ongoing Loans. 19 5. Representations and Warranties of the Company.......................................................... 20 5.(a) Financial Condition........................................................................... 20 5.(b) No Change..................................................................................... 21 5.(c) Corporate Existence; Compliance with Law...................................................... 21 5.(d) Corporate Power; Authorization; Enforceable Obligations....................................... 21 5.(e) No Legal Bar.................................................................................. 21 5.(f) No Material Litigation........................................................................ 21 5.(g) Taxes......................................................................................... 22 5.(h) Investment Company Act........................................................................ 22 5.(i) Federal Reserve Board Regulations............................................................. 22 5.(j) ERISA......................................................................................... 22 5.(k) Assets........................................................................................ 22 5.(l) Securities Acts............................................................................... 23 5.(m) Consents, etc................................................................................. 23 5.(n) Ownership..................................................................................... 23
View Source
Ongoing Loans. Representations and Warranties of the Borrowers.......................
View Source
Ongoing Loans. As conditions precedent to any Lender's obligation to make any Loan hereunder, including the first Loan, at and as of the date of advance: (1) There shall have been delivered to the Administrative Agent a Loan Request therefor; (2) The representations and warranties of the Companies or any of them and the Guarantor contained in the Credit Documents shall be accurate and complete in all respects as if made on and as of the date of such advance; (3) There shall not have occurred an Event of Default or Potential Default, and the making of such Loan will not create or give rise to an Event of Default or a Potential Default; (4) Following the funding of the requested Loan (i) (A) the aggregate principal amount of Loans outstanding will not exceed the lesser of
View Source
Ongoing Loans. As conditions precedent to each Lender's obligation or agreement to make any Loan hereunder (other than any Tranche A Committed Loan advanced by the Lenders to repay Tranche C Loans), including the first Loan and including the conversion of any Loan from or into a Eurodollar Loan or the continuation of any Eurodollar Loan after the end of the applicable Interest Period, at and as of the date of the funding, conversion or continuation: 21 22 (1) There shall have been delivered to the Administrative Agent a Loan And/Or Interest Rate Election Request or, in the case of a Bid Loan, the Bid Loan Confirmation therefor;
View Source
Ongoing Loans. As conditions precedent to the Lender's obligation to make any Loan hereunder, including the first Loan, at and as of the date of advance thereof; (1) There shall have been delivered to the Lender a Loan Request therefor; (2) The representations and warranties of the Company contained in the Credit Documents shall be accurate and complete in all respects as if made on and as of the date of such advance, conversion or continuance; (3) There shall not have occurred an Event of Default or Potential Default; (4) Following the funding of the requested Loan, the aggregate principal amount of Loans outstanding will not exceed the lesser of: (i) the Credit Limit and (ii) the Collateral Value of the Borrowing Base; (5) There shall not have occurred any material adverse change in the financial condition, assets, nature of assets, operations or prospects of the Company from that represented in this Agreement, the other Credit Documents, or the documents or information furnished to the Lender in connection herewith or therewith; and (6) The Required Documents for the Mortgage Loan(s) being funded therewith shall have been received by the Lender.
View Source

Related to Ongoing Loans

  • Existing Loans (a) The Contributors have obtained certain financing encumbering the Property referred to as the Excel Centre from CIBC with a principal balance, as of September 30, 2009, of approximately $13,054,774 (the “Existing Loan”). Such Existing Loan, including any related notes, deed of trusts, financing statements, amendments, modifications, assignments, and all other documents or instruments evidencing or securing such Existing Loan, shall be referred to, collectively, as the “Existing Loan Documents.” The Existing Loan shall be considered a “Permitted Lien” for purposes of this Agreement and Exhibit F hereto. The Operating Partnership at its election shall either (i) assume the Existing Loan at the Closing (subject to obtaining any necessary consents from the holder of each mortgage or deed of trust related to the Existing Loan (each a “Lender”) prior to Closing), or (ii) take title to the Property Interest subject to the lien of the Existing Loan Documents; provided, however, that if the Operating Partnership elects to proceed under clauses (i) or (ii) of this sentence, the Operating Partnership may nonetheless, at its sole discretion, cause the Existing Loan to be refinanced or repaid after the Closing. (b) In connection with the assumption of the Existing Loan at the Closing, the Operating Partnership shall be responsible for any assumption fee or prepayment premium assessed by the Lender and associated with such assumption, refinancing or payoff prior to maturity and any other related fees, charges, costs or expenses. Each Contributor shall use commercially reasonable efforts along with the Operating Partnership in seeking to process approval of the assumption of the Existing Loan or in beginning the process for any refinancing or payoff.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Revolving Loan Borrowings During the Revolving Commitment Period, subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make Revolving Loans denominated in Dollars to the Borrowers (on a joint and several basis) in an aggregate amount not to exceed at any time outstanding the amount of such ▇▇▇▇▇▇’s Revolving Commitment; provided, that after giving effect to the making of any Revolving Loans, (i) in no event shall the aggregate amount of Revolving Exposure exceed the aggregate amount of Revolving Commitments then in effect and (ii) no Lender’s Revolving Exposure shall exceed such ▇▇▇▇▇▇’s Revolving Commitment. Subject to the terms and conditions hereof, amounts borrowed pursuant to this Section 2.01(c) may be repaid and reborrowed during the Revolving Commitment Period. Revolving Loans may be Base Rate Loans or SOFR Loans as further provided herein.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.