Future Loan definition
Examples of Future Loan in a sentence
For the avoidance of doubt, on each such Subsequent Funding Date each Lender shall advance to Borrowers an amount equal to the Future Loan Purchase Ratio of its ratable share of all Loans requested by Borrowers as of such Subsequent Funding Date in exchange for Borrowers’ obligations to repay in full the face amount of such Loans, plus interest accrued thereon in accordance with the terms hereof.
If ▇▇▇ and a Majority in Interest of the Investors agree to so amend this Security Agreement to effect such Future Loan transactions, each Investor agrees to enter into such agreements as are reasonably requested by ▇▇▇ and a Majority in Interest to subordinate the Obligations and the security interests granted hereunder and under the Mortgages to the obligations and Future Security Interests arising under the Future Loans.
The Consolidated Loan, and any future loans to the Executive by the Company for the foregoing stated purpose ("Future Loan"), shall bear simple interest at the applicable Federal rate and shall be due and payable 90 days after the termination of the Executive's employment with the Company subject to the forgiveness and Change in Control provisions set forth below in subsections 3.3(b) and 3.3(c), respectively.
Within ten (10) Business Days of actual receipt by the Companies of the proceeds from a Future Loan, the Dedicated Portion of the Net Loan Proceeds, less (i) the Non Participating Creditor Reserve, and (ii) the Disputed Claims Reserve, shall be paid to the holders of Participating Creditor Claims.
A default or event of default occurs under the Omaha Loan, the Englewood Loan or any Loan Document other than this Agreement, or any document evidencing or executed in connection with any Future Loan, and the same is not remedied within the applicable period of grace (if any) provided herein or in such document.
As long as any of the Loan Obligations are outstanding, the Company shall, at all times, reserve and keep available out of its authorized but unissued shares of Common Stock for the purpose of effecting the conversion of the Current Loan Note and the Future Loan Notes, if any, and exercise of the Warrants, such number of its duly authorized shares of Common Stock as shall be sufficient to effect such conversion and exercise.
The Collateral Agent and Participating Creditors consent to any Future Loan provided the requirements of Section 13.02 are satisfied.
If NutraCea and a Majority in Interest of the Investors agree to so amend this Security Agreement to effect such Future Loan transactions, each Investor agrees to enter into such agreements as are reasonably requested by NutraCea and a Majority in Interest to subordinate the Obligations and the security interests granted hereunder and under the Mortgages to the obligations and Future Security Interests arising under the Future Loans.
The Buyer hereby covenants and agrees with the Seller that it shall, at any time prior to January 10, 2008, upon not less than two (2) business days prior written notice from the Seller, purchase Future Loans from the Seller at the applicable Future Loan Purchase Price pursuant to the terms of an asset purchase agreement substantially in the form of this Agreement.
For the avoidance of doubt, on each such Subsequent Funding Date each Lender shall advance to Borrowers an amount equal to the Future Loan Purchase Ratio of its ratable share of all Loans (other than 2024 Convertible Note Loans) requested by Borrowers as of such Subsequent Funding Date in exchange for Borrowers’ obligations to repay in full the face amount of such Loans, plus interest accrued thereon in accordance with the terms hereof.