Initial Draw Amount definition

Initial Draw Amount is Five Million Dollars ($5,000,000).

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Initial Draw Amount means $106,283,856.00.

Initial Draw Amount. Has the meaning set forth in the Recitals of this Agreement. Initial Financial Statement. See Section 4.6(a). Intercompany Indebtedness. See Section 10.21.

Examples of Initial Draw Amount in a sentence

• Lender shall make one (1) advance available to Borrower in the amount of the Initial Draw Amount on the Effective Date, subject to the satisfaction of the terms and conditions of this Agreement (“Growth Capital Advance A”).

• Subject to the terms and conditions of this Agreement, Lenders agree, severally and not jointly, to make one (1) advance available to Borrower in the amount of the Initial Draw Amount on the Effective Date (“Growth Capital Advance A”).

• Borrower hereby requests the Initial Draw Amount on the Closing Date.

• On the date (the "Initial Funding Date") that all of the conditions precedent set forth hereinbelow have been satisfied to the Lender's sole and absolute discretion, the Lender shall disburse the Initial Draw Amount less the Initial Fee, less the Legal Fee, and less the Initial Interest Amount to Borrowers.

• At Closing, Borrower may make an initial draw under this Loan of the Initial Draw Amount in order to pay off all outstanding, principal, interest and other obligations of Bridgeport Fuel Cell Park, LLC, a wholly-owned Subsidiary of Borrower, under the Pre-Development Loan.

• Thereafter, beginning on the 3 month anniversary of each respective Initial Draw Amount and Second Draw Amount, until the Maturity Date, the Borrowers shall pay on each monthly anniversary thereafter, interest at the Interest Rate (or the Default Rate) on the outstanding Loan Amount of the Initial Draw Amount and Second Draw Amount, respectively, including any shortfall of Interest not prepaid by the Borrower via Lender's holdback.

• The Borrower shall pay Lender a fee of 0.50% of the sum of the Initial Draw Amount and the Second Draw Amount on each of the 12th, 24th, 36th and 48th Payment Dates.

• The Initial Interest Amount and the Second Interest Amount shall be prepaid by Borrowers via Lender withholding such respective amounts from disbursements of the Initial Draw Amount and the Second Draw Amount, respectively, as set forth hereinabove.

More Definitions of Initial Draw Amount

Initial Draw Amount means the aggregate principal amount of all Loans advanced by the Banks on the Initial Draw Date.

Initial Draw Amount means $429,000 (which amount includes the Initial Interest Amount and the Initial Fee).

Initial Draw Amount has the meaning set out in Section 2.3(a).

Initial Draw Amount means the initial amount of Bonds drawn down on the Closing Date equal to $51,000.

Initial Draw Amount means $5,047,000, the principal amount of the initial Bond to be authenticated and delivered to the Purchaser in accordance with Section 2.04 hereof.