Working Capital Advance. Borrowers acknowledge and agree that on the Closing Date, Lender advanced to Borrowers $9,363,111.46 in working capital and Borrowers hereby represent and warrant to Lender that such working capital advance was used for the purposes set forth on Schedule XVI attached hereto and made a part hereof.
Appears in 2 contracts
Sources: Loan Agreement (Morgans Hotel Group Co.), Loan Agreement (Hard Rock Hotel Holdings, LLC)