Refinance Loan Sample Clauses
Refinance Loan. The Loan is a refinancing of existing indebtedness and, except to the extent specifically required by Lender, there is to be no change in the ownership of either the Mortgaged Property or Borrower Principals. The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the refinancing has been fully disclosed to Lender.
Refinance Loan. If “Refinance Loan” is checked in Section 1.05, then Borrower has fully disclosed to Lender the intended use of any cash received by Borrower from Lender in connection with the refinancing, if applicable.
Refinance Loan. If “Refinance Loan” is checked in Section 1.05, then Borrower has fully disclosed to Funding Lender the use of any cash received by Borrower from Funding Lender in connection with the refinancing, funded on the Delivery Date, if applicable.
Refinance Loan. The obligation of Lender to refinance Term Loan A on the Term Loan A Maturity Date is subject to the following conditions precedent (unless Lender, in its sole and absolute discretion, shall agree otherwise):
(a) EXCEPT (i) for representations and warranties which expressly speak as of a particular date or are no longer true and correct as a result of a change which is permitted by this Agreement or (ii) as disclosed by Borrower and approved in writing by Lender, the representations and warranties contained in ARTICLE 4 (OTHER THAN Sections 4.4, 4.6 (first sentence), 4.10 and 4.17) shall be true and correct in all material respects on and as of the Term Loan A Maturity Date as though made on that date;
(b) no circumstance or event shall have occurred that constitutes a Material Adverse Effect since the Closing Date;
(c) other than matters described in SCHEDULE 4.10 or not required as of the Closing Date to be therein described, there shall not be then pending or threatened any action, suit, proceeding or investigation against or affecting Borrower or any of its Subsidiaries or any Property of any of them before any Governmental Agency that constitutes a Material Adverse Effect;
(d) Lender shall have received such security agreements, financing statements and other security documents, in each case duly executed by Borrower or the applicable Subsidiary Guarantor, as Lender may require to create, evidence or a perfect a Lien in favor of Lender on all patents and other intellectual property assets of Borrower, which shall be substantially identical and not more onerous to Borrower than the documents executed and delivered at the Closing Date;
(e) Borrower and Lender shall have entered into a definitive loan agreement, in form and substance reasonably acceptable to Lender, providing for, among other terms, a loan fee of $37,500 and the following financial covenants (Borrower's compliance with which shall be determined quarterly, on a consolidated basis) but which otherwise shall be substantially similar to this Agreement:
(i) a Leverage Ratio of not less than 2.50 to 1.00; and
(ii) a Fixed Charge Coverage Ratio of not less than 1.25 to 1.00;
(f) Borrower shall have failed to complete the sale of substantially all of the assets or capital stock of IBIS Systems Limited, or the promissory note in the approximate original principal amount of $14,000,000 issued to Borrower by the purchaser of IBIS Systems Limited shall not have been paid in full; and
(g) Lender shal...
Refinance Loan. If “Refinance Loan” is checked in the Summary, then ▇▇▇▇▇▇▇▇ has fully disclosed to Funding Lender the use of any cash received by Borrower from Funding Lender in connection with the refinancing, funded at the closing, if applicable.