Optional Advances Clause Samples

Optional Advances. At its option, Secured Party may discharge taxes, liens, security interests or other encumbrances upon any of the Collateral, may place and pay premiums upon insurance on any of the Collateral and may incur expenses for maintenance and preservation of any of the Collateral. Debtor agrees to pay to Secured Party upon demand all sums incurred or paid for any of said purposes with interest from the date on which the same were incurred to the date of payment at the rate of 18 percent per annum. Payment thereof is secured by the Collateral.

Optional Advances. If Lender advances funds in excess of the Principal Amount (each, an “Optional Advance”), Borrower agrees such Optional Advance shall be subject to the terms and conditions of this Agreement and included as a part of the Obligations. Borrower also agrees that Lender does not hereby agree to make any Optional Advance and shall do so only in the exercise of Lender’s sole discretion.

Optional Advances. Lender will consider additional future loans to Borrower in an amount up to TWO MILLION DOLLARS ($2,000,000.00) to support future strategic business acquisitions. Any such future loans will be evaluated by Lender as a new opportunity arises and a request is made by Borrower. Any such future loans would be made pursuant to documentation prepared after any such request is approved by Lender.

Optional Advances. Notwithstanding the limitations set forth in this Paragraph 2.7, the Lender expressly reserves the right to waive the requirements herein contained from time to time and to permit the Borrowers, in the Lender's sole discretion, to obtain disbursements under the Term Note in such amounts and on such terms as the Lender might approve.

Optional Advances. All non-obligatory additional advances made in connection with any construction of improvements on the Property and secured by the Deed of Trust and any deed of trust used in connection with any refinancing of the Loan, shall unconditionally be and remain at all times a lien on the Property, prior and superior to the Lease and the leasehold estate created thereby. Tenant will, at the request of Lender, execute and deliver, in recordable form, such subordinations, agreements, or other documents as Lender may deem necessary or desirable to make effective the subordinations set forth in this paragraph.

Optional Advances. 21 2.7.2 No Readvances ............................................... 21 2.7.3 Conversion Rights of Lender ................................. 21

Optional Advances. All non-obligatory additional advances made in connection with any construction of improvements on the Property and secured by the Deed of Trust and any deed of trust used in connection with any refinancing of the Loan by Lender, shall unconditionally be and remain at all times a lien on the Property, prior and superior to the Lease.