Secured Loan. Each Loan Participant agrees to provide ------------ immediately available funds in the amount determined by multiplying Lessor's Cost by the percentage set forth opposite its name on Schedule I (a Loan Participant's "Commitment") to or on behalf of the Owner Trustee by paying or causing to be paid such amount to the Owner Trustee, at the account specified by the Owner Trustee on or prior to the Delivery Date, such amount to be held and applied toward the Owner Trustee's payment of Lessor's Cost for the Aircraft on the Delivery Date (and if not so applied, to be promptly returned to such Loan Participant). Such funds, once so applied, shall constitute a loan to the Owner Trustee to be evidenced by an Equipment Note substantially in the form set forth in the Indenture and as more particularly described herein and in the Indenture and secured as provided in the Indenture.
Secured Loan. Claims On the Effective Date, each holder of an Allowed Secured Loan Claim shall receive, in full satisfaction of its claim pursuant to the Restructuring Transactions (including a waiver of any deficiency claims related thereto), its pro rata share of 5.0% of the Reorganized Parent Common Stock at the Undiscounted Price Per Share (the “Secured Claims Equity Conversion”), subject to dilution by the DIP Backstop Equity Issuance, the Rights Offering, the Warrants, the New Equity Incentive Plan and conversions, if any, of the Reorganized Parent Participating Preferred Stock. Impaired; entitled to vote.
Secured Loan. Subject to the terms and conditions of this Agreement, at the Closing (as defined in Section 2) Newco and the Company shall enter into a secured loan agreement in the form attached as Exhibit A hereto (the "Secured Loan Agreement") and Newco shall fund the Refinancing Loan (as defined in the Secured Loan Agreement). The Secured Loan Agreement will also grant to Newco an option (the "Option") to acquire, on the terms provided in the Secured Loan Agreement, 500,000 shares (the "Preferred Shares") of Series B Preferred Stock, stated value $40 per share, of the Company ("Series B Preferred Stock"), which Series B Preferred Stock shall have the terms of the Articles of Amendment in the form of Exhibit B hereto.
Secured Loan. On the Option Exercise Date, (i) Walcott shall lend to Schrxx xx amount (the "First Loan Amount") equal to the sum of (a) the Purchase Price and (b) 37% of the difference between the Purchase Price and the fair market value (as defined in the Unit Option, measured as of the Option Exercise Date) of the Option Units in connection with his exercise of the Unit Option (the "Loan") by transferring to BCLP on Schrxx'x xxxalf, upon receipt of the Walcott Note (as defined herein) executed by Schrxx, the First Loan Amount in immediately available funds, and (ii) Schrxx xxxll execute a promissory note in favor of Walcott (the "Walcott Note"), the form of which is attached to this Agreement as Exhibit C, and grant therein to Walcott a first-priority security interest in the Option Units and all proceeds therefrom (the "Walcxxx Xxxx"). The Loan will be due and payable on the earlier of (a) the date on which Schrxx xxxls the Option Units (subject to the terms and provisions of this Agreement) and (b) April 15, 1999. No interest will be charged by Walcott on the Loan. The Loan will be recourse to Schrxx. Xxlcxxx xxx Schrxx xxxee that the Walcott Note shall be a "security agreement" under the provisions of Article 8 of the Delaware Uniform Commercial Code (Del. Code Ann., Xitle 6, Subtitle I), and that the security interest granted thereby shall be a "purchase money security interest" under the provisions of Article 9 of the Delaware Uniform Commercial Code. Schrxx xxxees to effect his pledge to Walcott of the Option Units by directing BCLP's transfer agent to deliver the Option Units to Walcott at such location, or to such third-party holder, as Walcott directs, along with duly executed instruments of transfer or assignment in blank, in form and substance satisfactory to Walcott, in order further to perfect Walcott's security interest therein. Walcott and Schrxx xxxee to take all reasonable steps necessary to effectuate such pledge of the Option Units, in compliance with all applicable laws and regulations.
Secured Loan. Each Loan Participant agrees to provide ------------ immediately available funds in the amount set forth opposite its name on Schedule I (each such commitment being referred to as a Loan Participant's "Commitment") to or on behalf of the Company by paying or causing to be paid such amount to the Company, at the account specified by the Company on or prior to the Delivery Date. Such funds shall constitute a loan to the Company to be evidenced by the Equipment Notes and secured as provided in the Indenture.
Secured Loan. The Company will provide the Executive with a loan ------------ with a principal amount of $5,000,000, to facilitate the purchase of a residence in the Southern California area. The loan is to be secured by a First Trust Deed on the residence and will be structured as an interest-only loan with a balloon payment of the entire principal amount and all interest accrued during the term of the loan due on January 15,
Secured Loan. Section 4.12, .............49
Secured Loan. The term ‘‘secured loan’’ means a direct loan funded by the Sec- retary in connection with the financing of an aircraft purchase under section 41763(b).
Secured Loan if the Secured Loan is assumed by Buyer at Closing, Buyer shall receive a proration credit in the amount of the outstanding principal balance of the Secured Loan on the Closing Date and Seller shall receive a proration credit equal to the actual funded amount of any escrows or impounds held by the Secured Lender in connection with the Secured Loan on the Closing Date.
Secured Loan. The Loan Participant agrees to provide immediately ------------ available funds in the amount determined by multiplying Lessor's Cost by the percentage set forth opposite its name on Schedule I (the Loan Participant's "Commitment") to or on behalf of the Owner Trustee by paying or causing to be paid such amount to the Owner Trustee, at the account specified by the Owner Trustee on or prior to the Delivery Date, such amount to be held and applied toward the Owner Trustee's payment of Lessor's Cost for the Aircraft on the Delivery Date (and if not so applied, to be promptly returned to the Loan Participant), provided that the Loan Participant shall have no obligation to -------- provide its Commitment after January 31, 2000. Such funds, once so applied, shall constitute a loan to the Owner Trustee to be evidenced by an Equipment Note substantially in the form set forth in the Indenture and as more particularly described herein and in the Indenture and secured as provided in the Indenture.
