Advance Expiration Date definition

Advance Expiration Date means the earlier of: (i) August 31, 2015, or (ii) the date on which an Event of Default occurs under this PSA or the Lease, after which date, Seller must repay the Principal Portion of the Rental Payments under the Lease in accordance with the terms of the Lease, and after which date no additional amounts of the Acquisition Price will be advanced by Buyer to Seller hereunder.
View Source
Advance Expiration Date means the earlier of: (i) August 31, 2015, or (ii) the date
View Source

Examples of Advance Expiration Date in a sentence

  • All amounts owed by the Borrower ---------------------------- with respect to the $500,000 Additional SBLC Line of Credit Advances shall be evidenced by a SBLC line of credit note in substantially the form attached hereto as Exhibit 2.04(b) (the "SBLC Line of Credit Note"), in the --------------- original principal amount of $500,000, dated the date hereof and due and payable in full (together with all accrued and unpaid interest thereon) on the Additional SBLC Line of Credit Advance Expiration Date.

  • Subject to the terms and conditions of this Agreement, including without limitation Section 1.01(c), Section 1.06, Section 2.02 and Article 5, Borrower agrees that the remainder of the Fixed Facility Commitment not advanced on the Initial Closing Date, $310,000,000 shall be drawn on or before the Future Advance Expiration Date as a Fixed Advance.

  • Seller shall commence construction of the New Construction within a reasonable time after the date of Initial Advance, proceed diligently and without interruption, and promptly complete the New Construction on or before the Advance Expiration Date.

  • If all conditions precedent contained in Section 5.03 and the General Conditions contained in Section 5.01 are satisfied, Lender shall make the Future Advance, at a closing to be held at offices reasonably designated by Lender on a Closing Date reasonably selected by Lender, but no later than the Future Advance Expiration Date.

  • Seller may submit only one (1) Advance Request every month until the Advance Expiration Date.

  • Seller shall complete the New Construction in good and workmanlike manner and in accordance with the Plans on or before Advance Expiration Date (“Completion Date”).

  • The SBLC Line of Credit shall --------------------------------- expire (i) with respect to direct borrowings of SBLC Line of Credit Advances on the Additional SBLC Line of Credit Advance Expiration Date, and (ii) with respect to letters of credit under Section 2.05, on June 30, 1999, whereupon no further advances may be made thereunder.

  • The Borrower may not reborrow SBLC Line of Credit Advances once repaid and (i) to the extent that the Borrower has not borrowed the entire $500,000 of Additional SBLC Line of Credit Advances by the Additional SBLC Line of Credit Advance Expiration Date, the Borrower shall have no further right to borrow SBLC Line of Credit Advances under this Section 2.04.

  • If such transactions have not closed by the 2017 Term Loan Advance Expiration Date, the same shall not constitute an Event of Default hereunder, but the Lender shall be relieved of any obligation hereunder to fund the 2017 Term Loan unless Lender agrees otherwise in its sole discretion.

  • The Buyer shall not be required to extend the Advance Expiration Date by reason of Seller's failure to pay such claims.