Advance Closing definition
Examples of Advance Closing in a sentence
Prior to the date of the delivery by the Company of the first Pre-Paid Advance Closing, the Investor shall have received an opinion letter from counsel to the Company in form and substance reasonably satisfactory to the Investor.
The Subsequent Advance Closing shall take place remotely via the exchange of documents and signatures or at such location as may be mutually acceptable by the parties.
Concurrently with or immediately following the Subsequent Advance Closing, each of the Company and the Purchasers shall execute and deliver the Note(s) purchased pursuant to Section 2 hereof to which it is party.
Without derogating from the generality of the foregoing, prior to the Advance Closing Date, the Company shall obtain the TASE Approval evidencing the consent of the TASE, to the listing of the Shares on the TASE.
Each Closing shall take place on the applicable Advance Closing Date.
At the Subsequent Advance Closing (as hereinafter defined), each Purchaser shall pay to the Company the U.S. dollar amount set opposite such Purchaser’s name in the Subsequent Advance Schedule of Purchasers hereof by wire transfer of immediately available U.S. dollar funds to the bank account designated in writing by the Company to each Purchaser prior to the Subsequent Advance Closing.
Each Swing Line Advance shall mature on the fifth (5th) Business Day following the applicable Swing Line Advance Closing Date (at which time the entire principal balance and all accrued interest shall be due and payable); and (ii) If a Swing Line Advance is not paid in full when due and payable, Agent shall make a Revolving Advance in the amount necessary to repay outstanding principal and accrued interest.
If required by Agent, on any Advance Closing Date, Agent shall deposit out of the proceeds of an Advance in the Mortgage Recording Tax Escrow Account for the Borrower an amount for required Mortgage recording taxes calculated by the Title Agent that satisfy the requirements of Section 3.16 of this Agreement sufficient to create first Liens.
The Pre-Paid Advance Closing shall take place on the execution date of this Agreement (or such other date as mutually agreed upon by the Parties hereto), provided that the conditions set forth on Annex I have been satisfied.
Agent shall have received copies of certificates of occupancy issued by the appropriate Governmental Authority of the jurisdiction in which the Property is located reflecting, and consistent with, the use of the Property as of the Advance Closing Date and evidence that the Property is in compliance with all applicable zoning laws, rules and regulations (which items may be satisfied through the delivery of a report from The Planning and Zoning Resource Corporation with respect to the Property).