First Loan Advance definition

First Loan Advance means the loan in the initial principal amount of $1,317,008 advanced to the Partnership by the Administrative General Partner pursuant to a Promissory Note from the Partnership dated August 19, 1994.
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First Loan Advance shall have the meaning set forth in Section 2.4
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Examples of First Loan Advance in a sentence

  • Lender made a loan (the “Loan”) to Borrower in the amount of ONE MILLION, FIFTY-SEVEN THOUSAND, EIGHT HUNDRED and SEVENTY-NINE AND 00/100 DOLLARS ($1,057,879.00), which Loan was evidenced by a Promissory Note dated July 3, 1989 executed by Borrower and made payable to the order of Lender (the “Note”) having a maturity date of the first day of the 181st month after the First Loan Advance (the “Final Payment Date").

  • As consideration for making the First Loan Advance prior to the completion of the Equipment Appraisal, Borrower shall pay to Lender a fee equal to two thousand two hundred fifty dollars ($2,250) for each month, or portion thereof, until the Equipment Appraisal has been completed; provided, however, the First Loan Advance fee shall not exceed three thousand three hundred seventy-five dollars ($3,375).

  • No Sponsor Entity shall make any loans or other advances to the Borrower, other than (a) any Permitted Subordinated Loan, (b) on or prior to the First Loan Advance Date, the Ford Shareholder Bridge Loan Agreement or (c) as otherwise permitted by the Financing Documents.

  • The First Loan Advance fee is not intended to be and shall not be construed to be interest.

  • First Loan Advance - 8 - 7.1.1 Satisfactory Loan Documents - 9 - 7.1.2 No Material Change - 9 - 7.1.3 Warranties and Representations Accurate - 9 - 7.1.4 Financials and Appraisals - 9 - 7.1.5 Validity and Sufficiency of Security Documents - 9 - 7.

  • The Second Loan Advance shall be in an amount that when combined with the First Loan Advance shall equal the lesser of (i) two hundred fifty thousand dollars ($250,000), or (ii) sixty percent (60%) of the net orderly liquidation value of Eligible Equipment as set forth in the Equipment Appraisal.

  • Lender is irrevocably authorized to disburse a sufficient amount of funds pursuant to the Financing Agreement each month to pay the First Loan Advance fee.

  • The First Loan Advance shall be in the amount of one hundred twenty-five thousand dollars ($125,000).