Examples of Apollo Loan in a sentence
Upon the satisfaction and/or waiver of the conditions to the Initial Subsequent Closing, (a) the Apollo Loan shall be converted into Class A Interests as set forth in Section 2.4(c); (b) the Promissory Note shall be cancelled; (c) the Pledge Agreement shall be terminated; and (d) the parties shall make additional capital contributions and shall be issued additional Interests as set forth in Section 2.4(c).
The entire amount of the Apollo Loan was disbursed to the order of the Company by wire transfer in immediately available funds to the account specified in such wire instructions on the Initial Closing Date.
For the avoidance of doubt, upon the conversion of the Apollo Loan into the Class A Interests as set forth herein, the Apollo Loan shall be terminated and no payment of principal, interest or any other amounts shall be due thereon.
At the Initial Closing, (i) each of Apollo and the New Valley Parties funded their initial contributions to the Company as set forth in Section 2.4(b), and (ii) Apollo advanced the Apollo Loan to the Company.
Borrower shall not use any Advances to repay any amounts due or owing under the Apollo Loan Agreement.
As of the Fifteenth Amendment Effective Date and for so long as any Obligations remain outstanding, Borrower and ADES shall be in compliance in all respects with the obligations set forth in Section 4.3(f) and Section 4.4 of the Apollo Loan Agreement as in effect as of the Thirteenth Amendment Effective Date, provided that the minimum aggregate Cash Balance required pursuant to Section 4.4(a) of the Apollo Loan Agreement shall be $6,000,000 for the purposes of this Agreement.
Subject to the terms and conditions set forth herein, the Apollo Lender agrees to make a single loan to the Borrower on the Closing Date in an aggregate principal amount equal to $55,474,071.5 (the “Apollo Loan”) and the Mast Lender agrees to make a single loan to the Borrower on the Closing Date in an aggregate principal amount equal to $19,525,928.5 (the “Mast Loan” and together with the Apollo Loan, the “Loan”).
An Apollo Letter of Credit will be issued only to support the obligations of the Company and UKHC under the Apollo Loan Notes.
Under its previous GAAP, the fair value of the liability relating to the Company’s asset retirement obligations was recorded in the period in which it was incurred, discounted to its present value using the Company’s credit adjusted risk-free interest rate and the corresponding amount was recognized by increasing the carrying amount of the related long-lived asset.
An “Event of Default” (as defined in the Apollo Loan Agreement) has occurred under the Apollo Loan Agreement.