Examples of Loan Advance in a sentence
Any such notice must be given not less than three (3) Business Days prior to the proposed Loan Advance.
The date of disbursement of each Loan Advance shall be referred to herein as an “Advance Date.” On the Effective Date, Borrower shall execute and deliver to Lender an unsecured convertible grid promissory note to evidence the Loan, substantially in the form attached hereto as Exhibit A (the “Note”).
Each Loan Advance shall be made on written notice by Borrower to Lender by email or facsimile transmission.
Until the Maturity Date, Borrower may borrow under this Section 2.1; provided, that the amount of any Loan Advance to be made at any time shall not exceed the availability under the Loan at such time and no Event of Default has occurred or is continuing at such time.
With respect to a Loan Advance, there must be sufficient availability of credit under the Loan for such Loan Advance to be made.