Purchaser Loans Sample Clauses

The Purchaser Loans clause defines the terms under which the buyer provides loans to the seller, typically as part of a larger transaction or acquisition. This clause outlines the amount, interest rate, repayment schedule, and any security interests associated with the loan, ensuring both parties understand their financial obligations. Its core function is to formalize the lending arrangement between purchaser and seller, providing clear terms to prevent disputes and facilitate smooth financial transactions.
Purchaser Loans. (a) On the Closing Date, and pursuant to the terms and conditions of the loan agreement to be mutually agreed upon (the "Seminole Loan Agreement"), Purchaser will cause to have advanced to Seminole a commercial loan (the "Seminole Loan") in an amount equal to the lesser of (i) the outstanding principal balance of the Consumer Paper, or (ii) $1,000,000. The Seminole Loan shall be secured by the Consumer Paper and will be personally guaranteed by MK pursuant to a payment guaranty in the form to be mutually agreed upon (the "Payment Guaranty"). The Seminole Loan will accrue interest at the Prime Rate, as published in The Wall Street Journal from time to time, plus two percent, and will be payable in full on the Maturity Date. If requested by Seminole, Purchaser will service the Consumer Paper in accordance with its ordinary and customary practices regarding the servicing of consumer installment contracts utilizing a single employee approved by Seminole. During the period between the Closing Date and the Maturity Date, all payments on the Consumer Paper collected by Seminole (or by Purchaser if Purchaser services the Consumer Paper) shall be applied to the Seminole Loan. Upon payment of the Seminole Loan in full on the date which is two years following the Closing Date (the "Maturity Date"), all Consumer Paper then serviced by
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Purchaser Loans. 36 --------------- SECTION 10.2 Notices Relating to Loans..................................... 36 ------------------------- SECTION 10.3 Disbursement of Loan Proceeds................................. 36 ----------------------------- SECTION
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Purchaser Loans. 37 7.4 Directors and Stockholders Authorization; Change of Seller Name. . . . 37 7.5 Non-Competition Agreement. . . . . . . . . . . . . . . . . . . . . . . 37 7.6 Encumbrances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 7.7 Pay Increases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 7.8 Restrictions on New Contracts. . . . . . . . . . . . . . . . . . . . . 38 7.9
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Purchaser Loans. 21 5.6 Confidentiality................................................. 22 5.7
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Purchaser Loans. The Purchaser hereby agrees, on the ---------------- terms and subject to the conditions of this Agreement, upon request of the Seller, to make advances (each, a "the Purchaser Loan") to the Seller during the term of this Agreement in an aggregate principal amount at any one time outstanding up to, but not exceeding, the Borrowing Limit; provided that no such -------- the Purchaser Loans may be made if an Event of Termination or an Event of Default (as defined in the Holland Loan Agreement), or an event which, upon the giving of notice or the passage of time, or both, would become an Event of Termination or an Event of Default has occurred and is continuing.
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Purchaser Loans. Seller acknowledges and agrees that Purchaser may, at its sole option, advance funds to Seller to facilitate payment of Seller trade accounts payable that are negotiated and compromised to Purchaser's satisfaction prior to or on the date of Closing. In the event such advances are remitted to Seller by Purchaser, Seller shall execute a secured promissory note payable to Purchaser, Uniform Commercial Code financing statements, a pledge agreement and such other documents and instruments deemed reasonable, customary and necessary by Purchaser to secure the advance. Any and all advances remitted by Purchaser shall be used solely for the payment of trade accounts payable approved in advance in writing by Purchaser. The promissory note given by Seller in exchange for Purchaser's advance(s) shall (i) not be subordinated to any other debt of Seller, (ii) bear interest at 8% per annum with a due date of May 31, 1999, (iii) be secured by a blanket lien on Seller's assets and (iv) be guaranteed by Seller's Shareholders and the Parent. In the event the transaction does not close on or before May 31, 1999, or this Agreement is terminated for any reason pursuant to Article XI hereof, the promissory note shall become immediately due and payable as of such date, along with a service charge equal to 5% of the savings on the difference between the trade account payable at the gross amount and the amount actually paid, and Seller shall immediately remit the entire unpaid principal balance of the promissory note, the service charge and accrued interest on the promissory note to Purchaser by wire transfer of immediately available funds.
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Purchaser Loans. Purchaser shall provide to the Company the loans specified in Section 2.6 on the terms set out in the Purchaser Loan Agreement ("Purchaser Loan") for the express purpose of enabling the Company to prepay the Existing IFC Loans and to fund Purchaser's obligation to pay the Net Working Capital Reimbursement.
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Purchaser Loans. From and after the Closing Date until the date which is three (3) years thereafter, the Purchaser agrees to loan to Company (on terms no less favorable than that which would be otherwise available to Company), or guaranty Company debt for, up to $300,000 for oil and gas property acquisitions. Any such loans or guaranties shall be secured by such amount of Common Stock of Company as will cause the Purchaser, after the foreclosure thereof, to own 77.5% of the total issued and outstanding Common Stock of Company.
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Related to Purchaser Loans

  • Member Loans The Member may make loans (“Member Loans”) to the Company, which shall bear interest and be repaid on such reasonable terms and conditions as may be approved by the Member.

  • Initial Loans This Agreement shall not become effective nor shall the Lenders be required to make the initial Loans unless (i) since December 31, 2009, no event, development or circumstance shall have occurred that has had, or could reasonably be expected to have, a material adverse effect on the business, assets, operations or financial condition of Harley and its subsidiaries taken as a whole and (ii) the Borrowers shall have (a) paid all fees required to be paid in connection with the execution of this Agreement, (b) furnished to the Global Administrative Agent, with sufficient copies (other than in the case of any Notes) for each of the Lenders, such documents as the Global Administrative Agent or any Lender or its counsel may have reasonably requested, including, without limitation, all of the documents reflected on the List of Closing Documents attached as Exhibit D to this Agreement, (c) obtained all governmental and third party approvals necessary in connection with the financing contemplated hereby and the continuing operations of Harley and its Subsidiaries (including the Borrowers) and such approvals remain in full force and effect, (d) delivered to the Lenders (1) audited consolidated financial statements of Harley (on a Consolidated basis), (2) unaudited Consolidated financial statements of Harley (excluding HDFS and its Subsidiaries), (3) audited Consolidated financial statements of HDFS and its Subsidiaries (on a Consolidated basis), in the case of each of the foregoing clauses (1), (2) and (3), for the two most recent fiscal years ended prior to the Closing Date as to which such financial statements are available and (4) financial statement projections of (A) Harley (on a Consolidated basis), (B) Harley (excluding HDFS and its Subsidiaries) and (C) HDFS and its Subsidiaries, in the case of each of the foregoing clauses (A), (B) and (C), for the 2010 fiscal year, together with key underlying assumptions in reasonable detail and (e) delivered evidence reasonably satisfactory to the Global Administrative Agent of the payment of all principal, interest, fees and premiums, if any, on all Indebtedness under the Existing Credit Agreement, and the termination of the applicable agreements relating thereto, all taking effect concurrently with the effectiveness of this Agreement; provided that any Lender hereunder which is also a “Lender” under the Existing Credit Agreement hereby waives any requirement of five (5) Business Days notice by the “Borrowers” under the Existing Credit Agreement prior to the reduction of the commitments thereunder and the termination thereof.

  • Shareholder Loans ▇▇▇▇▇▇ ▇▇▇▇▇▇ 19.22 (Shareholder Loans) and make any other necessary consequential amendments.

  • 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.

  • Acquisition Loans Each Acquisition Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of Acquisition Loans permitted to be outstanding from time to time, to lend to Company from time to time during the period from the Merger Date to but excluding the Acquisition Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Acquisition Loan Commitments to be used for the purposes identified in subsection 2.5C. The original amount of each Acquisition Lender's Acquisition Loan Commitment is set forth opposite its name on SCHEDULE 2.1 annexed hereto and the aggregate original amount of the Acquisition Loan Commitments is $25,000,000; PROVIDED that the Acquisition Loan Commitments of the Acquisition Lenders shall be adjusted to give effect to any assignments of the Acquisition Loan Commitments pursuant to subsection 10.1B; PROVIDED FURTHER that the amount of the Acquisition Loan Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Acquisition Lender's Acquisition Loan Commitment shall expire on the Acquisition Loan Commitment Termination Date and all Acquisition Loans and all other amounts owed hereunder with respect to the Acquisition Loans and the Acquisition Loan Commitments shall be paid in full no later than that date; PROVIDED that each Acquisition Lender's Acquisition Loan Commitment shall expire immediately and without further action on October 31, 1998, if the Tranche B Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(v) may be repaid and reborrowed to but excluding the Acquisition Loan Commitment Termination Date.