ADS Loan definition
Examples of ADS Loan in a sentence
Parent shall cause all payments of interest on the ADS Loan and the first $500,000 of payments of principal of the ADS Loan to be delivered directly to the Lender by wire transfer of immediately available funds.
Parent shall deliver or cause to be delivered directly to the Lender principal and interest payments made in respect of the ADS Loan, $500,000 of which will be held by the Lender as cash collateral to secure the Obligations (the “Cash Collateral”), in each case in accordance with the terms of this Section 6.30.
The Assignor shall tender immediate physical possession of the original of each of the ADS Loan Documents to the Assignee, together with, in the case of the Term Note, an allonge assigning the Term Note to the Assignee substantially in the form attached hereto as Exhibit A (the “Allonge”), and, in the case of the Stock Certificate, duly executed instruments of transfer or assignment in blank, in form and substance satisfactory to the Assignee.
The aggregate amount of interest payments on the ADS Loan received by the Lender and held as cash collateral pursuant to the preceding sentence shall reduce, dollar-for-dollar, the amount of principal payments required to be delivered to the Lender pursuant to the second sentence of this Section 6.30.