The Initial Advance Sample Clauses

The Initial Advance. Subject to the terms and conditions set forth herein and in the Financing Order, each Lender severally agrees to make a Term Loan to Borrower on the Closing Date (such loan, the “Initial Advance”) in an amount equal to its Pro Rata Share of the lesser of (x) $2,500,000 and (y) the amount authorized by the Bankruptcy Court in the Interim Order (such lesser amount, the “Initial Advance Amount”); and
Sample 1
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The Initial Advance. (a) Initial Advance Amount. Lender will make an advance of Loan funds (the “Initial Advance”) in the amount of $5,000,000 (the “Initial Advance Amount”).
Sample 1
The Initial Advance. Subject to the terms and conditions of this ------------------- Agreement, Lender commits to make an initial advance of the Loan to Borrower in the principal amount of Two Hundred Fifty Thousand Dollars ($250,000.00) (the "Initial Advance"). Lender shall make the Initial Advance on the first business day following the satisfaction of the conditions in this Agreement, including without limitation those conditions in Section 6 of this Agreement (the "Closing Date").
Sample 1
The Initial Advance. The obligation of Lender to make the initial Advance is subject to fulfillment of the following conditions.
Sample 1
The Initial Advance. Upon the satisfaction of all applicable conditions set forth in Section 4.3 hereinabove and the satisfaction of each of the conditions precedent hereinafter set forth, Lender concurrently with the recordation of the Mortgage and the closing of the Loan and as the initial disbursement of the proceeds of the Loan (the “Initial Advance”) shall disburse to Borrower an amount sufficient to pay all or portions of the cost, charges and expenses incurred in connection with the Loan or payable by the Borrower pursuant to this Loan Agreement, including but not limited to: all loan fees; title and hazard insurance premiums; recording, notary and escrow charges; appraisal fees; other similar, usual or customary loan closing charges and expenses; legal fees and expenses of Lender’s counsel and Inspecting Engineer; and such other Project costs and expenses to the date of the closing of the Loan as are reflected in the Budget approved by Lender.
Sample 1

Related to The Initial Advance

  • Initial Advance On or prior to the Closing Date, Borrower shall have delivered to Agent the following:

  • Initial Advances The obligation of each Lender to make the initial Advance to be made by it or of the Administrative Agent to issue the initial Letters of Credit is subject to the following conditions precedent, each of which shall be satisfied prior to the making of the initial Advances (unless all of the Lenders, in their sole and absolute discretion, shall agree otherwise):

  • Conditions to Initial Advance Lender shall have no obligation to make the Initial Advance of funds to Borrower unless and until Contractor has furnished Borrower and Lender the Bond permitted by this Contract, and the following conditions have been satisfied:

  • Conditions Precedent to the Initial Advance The obligations of the Banks hereunder and the obligation of each Bank to make the Initial Advance are subject to the condition precedent that Administrative Agent shall have received and approved on or before the Closing Date (other than with respect to paragraph (10) below which shall be required prior to the Initial Advance) each of the following documents, and each of the following requirements shall have been fulfilled:

  • Conditions Precedent to Initial Advance The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following:

  • Conditions to Initial Advances The agreement of Lenders to make the initial Advances requested to be made on the Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such Advances, of the following conditions precedent:

  • Conditions Precedent to Initial Advances The obligation of each Bank to make its initial Advance on or after the Closing Date is subject to the conditions precedent that (i) all principal, accrued interest, fees, expenses, costs and other amounts outstanding under the terms of each of the Prior Agreements, accrued to the Closing Date, shall have been paid, and the commitments of the lenders thereunder to extend credit shall have terminated, (ii) the Agent shall have received, for the benefit of the Banks, the one time upfront fees due and payable on the Closing Date pursuant to the Joint Fee Letter and (iii) the Agent shall have received on or before the day of the initial Borrowing the following, each dated the Closing Date, in form and substance satisfactory to the Agent and in sufficient copies for each Bank:

  • Conditions Precedent to the Initial Extension of Credit The obligation of each Lender to make the initial extensions of credit provided for hereunder is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each of the conditions precedent set forth on Schedule 3.1 (the making of such initial extensions of credit by a Lender being conclusively deemed to be its satisfaction or waiver of the conditions precedent).

  • Conditions to the Initial Loans No Lender shall be obligated to make any Loan or incur any Letter of Credit Obligations on the Closing Date, or to take, fulfill, or perform any other action hereunder, until the following conditions have been satisfied or provided for in a manner satisfactory to Agent, or waived in writing by Agent and Lenders:

  • Conditions to Initial Loan The obligation of each Bank to make its initial Loan hereunder is subject to the satisfaction of the following conditions precedent:

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