Second Advance Sample Clauses

Second Advance. Lenders shall not be obligated to fund the Second Advance unless: (i) all of the conditions precedent to the Initial Advance have been satisfied; (ii) Borrower shall have acquired good and indefeasible title to the Initial Terramics Pool Properties, which Initial Terramics Pool Properties shall be subject to, and comply with, the requirements of Section 8.3; (iii) Agents have received property condition reports and environmental assessments with respect to the Initial Terramics Pool Properties acceptable to, and approved by, Agents; (iv) Agents have received copies of the acquisition documents with respect to the Initial Terramics Pool Properties acceptable to Agents; and (v) Administrative Agent has timely received all of the items described on Schedule 5 with respect to each Pledgor owning the Initial Terramics Pool Properties.

Second Advance. At any time following the date hereof through and including April 30, 2001, Borrower may request the Second Advance solely for the purchase of the Properties. The Second Advance shall be subject to the satisfaction of such conditions precedent as Lender shall require, including, without limitation, all of the following: (A) Borrower shall have provided to Lender such approvals, environmental audits, consents or documents as Lender may reasonably request; and (B) Borrower shall have provided to Lender an opinion of counsel from a law firm reasonably acceptable to Lender regarding such matters as Lender may request, including, without limitation, due authorization, execution and delivery, validity and enforceability of documents, no defaults, etc. (C) Borrower shall have submitted to Lender a copy of all acquisition documents relating to the purchase of the Properties, the terms and conditions of which acquisition documents must be satisfactory to Lender in its sole and absolute discretion with respect to the payment terms and with respect to title to the Properties and reasonably satisfactory to Lender in all other respects; and (D) Borrower shall have executed and delivered to Lender such documents and instruments as Lender deems necessary in form and substance acceptable to Lender to grant, assign, convey and/or pledge to Lender a first priority security interest in the assets to be purchased with the Second Advance free and clear of all liens and encumbrances of any kind which are not consented to by the Lender and Borrower shall have provided to Lender title insurance policies and/or Attorney's Certificate of Title (as requested by Lender) for the Properties issued by a law firm acceptable to Lender opining to and/or insuring in amounts acceptable to Lender (i) the first priority of Lender's liens and /or security interests therein, and (ii) that Lender's interests are subject to no liens, claims, encumbrances, or restrictions of any kind unless consented to by Lender; and (E) Borrower shall have provided to Lender evidence receipt of additional funds, from sources acceptable to Lender in its sole and absolute discretion, necessary to complete the acquisition of the Properties together with fully-executed subordination agreements in form and substance acceptable to Lender with respect to any funds loaned to Borrower in connection with such acquisition; and (F) all representations and warranties contained in the First Amendment and herein shall be true a...

Second Advance. The obligation of the Lender to make the Second Advance is subject to the fulfillment, in a manner satisfactory to the Lender, of each of the following conditions:

Second Advance. The conditions set forth in Sections 3.1, 3.2 and 3.3 shall have been satisfied, and the Lenders shall have made the Second Advance.

Second Advance. The second Advance of Loan proceeds (the "Second Advance") shall be disbursed at Closing to Borrower and/or directly to creditors of Borrower, as Lender may elect, to reimburse or pay for those costs and expenses incurred by or for Borrower prior to the Closing in connection with the Project. Borrower shall provide to Lender legible copies of all invoices and other written evidence of such costs and expenses as Lender may require.

Second Advance. From the Effective Date through SEPTEMBER 29, 2018, Debtor may request the SECOND (2ND) advance under the Credit Facility in the amount of TWO MILLION AND NO/100 DOLLARS ($2,000,000.00) (the “Second Advance”) provided that the Second Advance Conditions are satisfied as determined by Lender in its reasonable discretion. “Second Advance Conditions” means, collectively: (i) at least SEVENTY (70) days prior to the proposed date of disbursement of the Second Advance, Debtor shall have provided Lender with a written request for the Second Advance; (ii) no Material Adverse Effect shall have occurred; (iii) no Default or Event of Default shall be then existing; (iv) [***] and (v) neither a Level 1 Trigger nor Consumer Loan Value Deficiency shall have occurred and be continuing either immediately before, or would occur immediately after, giving effect to the Second Advance.

Second Advance. On the date that is 30 days after the Closing Date, Lender shall provide to Borrower a single Advance (the "Second Advance") in the aggregate principal amount equal to $700,000 less $75,000 of OID (net $625,000). The Second Advance shall constitute a Loan hereunder and shall be deemed to utilize the Commitment by an amount equal to the Second Advance.

Second Advance. Subject to ▇▇▇▇▇▇▇▇’s delivery to ▇▇▇▇ of the executed ORAFLEX IP Assignment, Lender shall fund the second Advance in the amount of $600,000.00 to Borrower on September 27, 2023.

Second Advance. The obligation of Lender to fund the Second Advance of Loan on the date of such Advance is subject to the fulfillment, on or prior to such date, of each of the following conditions: (a) An Event of Default (as herein defined) shall not have occurred and be continuing. (b) Lender shall have received an opinion of the Borrower's counsel, Nelson, Mullins, ▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇▇▇, L.L.P., dated the date of such Advance, regarding the enforceability of the promissory note delivered in connection therewith, in form and substance satisfactory to Lender's counsel, ▇▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇, PLLC. (c) Borrower shall have delivered a Note executed by Borrower in the original principal amount of the applicable Advance. (d) Borrower shall have delivered a Closing Certificate (in a form acceptable to Lender), executed by Borrower.