PURPOSE OF THE TERM LOAN Sample Clauses

PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of the Clause 3, the Term Loan will be made available by the Board to the Company for financing the purchase of machinery and a new building. Under this Agreement, the Company shall be required to invest a minimum of Singapore Dollars One Hundred and Sixty-five Million (S$165,000,000) cumulatively in Fixed Productive Assets (excluding land) by 30 September 2003.
Sample 1
AutoNDA by SimpleDocs
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of the Clause 3, the Term Loan will be made available by the Board to the Company for financing Fixed Productive Assets.
Sample 1
PURPOSE OF THE TERM LOAN. The proceeds of the Term Loan shall be used to (i) refinance existing outstanding debt of the Borrowers with RBS Citizens, and (ii) pay the fees, costs and expenses associated with the closing of the Loans.
Sample 1
PURPOSE OF THE TERM LOAN. The Term Loan shall only be used for general corporate purposes. 6 XXXXXXXX’S CONTACT DETAILS FOR NOTICES BORROWER: Attention: Xxxxxx Xxxxx Address: Imagine Marketing Private Limited, 501 B, Shri Guru Har Xxxxxxx Xxxxxx, Charat Singh Colony Road, Chakala, Andheri-East, Mumbai 400093E-mail ID: xxxxxx.xxxxx@xxxxxxxxxxxxxxxxxxxxx.xxx
Sample 1
PURPOSE OF THE TERM LOAN. The proceeds of the Term Loan shall be used to (i) refinance existing outstanding debt of the Borrowers with the Lender (in the approximate amount of $15,200,000), (ii) refinance and term out the outstanding balance of the existing development line of credit loan between the Borrowers and the Lender (in the approximate amount of $3,300,000), (iii) fund the acquisition by AMC Wings, Inc. of 100% of the membership interests in Xxxxxx Group, L.L.C., the owner of the Clinton Township Property (in the approximate amount of $2,500,000), (iv) fund the acquisition by the Acquisition Entities from the Xxxxxxx Entities of the assets of eight (8) Buffalo Wild Wings Restaurants located at the Acquisition Locations pursuant to the terms of the Xxxxxxx APA (in the approximate amount of $14,700,000), and (v) pay the fees, costs and expenses associated with the acquisition of the assets listed in (iii) and (iv) above and in connection with the closing of the Loans.
Sample 1
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the Fixed Productive Assets for the wafer fabrication of semiconductor devices at a facility to be established in Woodlands in Singapore (the "FAB 2 Project").
Sample 1
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the Fixed Productive Assets of the semiconductor assembly and test project. 5 4.2 Upon advance of a Drawing under Clause 5, the Company shall apply all the proceeds thereof for the purposes described in Clause 4.1 above and save with the prior written consent of the Board for no other purpose whatsoever.
Sample 1
AutoNDA by SimpleDocs
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the purchase of Productive Fixed Assets of the Company's plant for the FAB 2 Project only, provided always that such financing shall only be in respect of payments already made by the Company after 1 September 1996 in respect of the said Project. Under this Agreement, the Company shall be required to invest a minimum of Singapore Dollars One Billion Five Hundred Million (S$1,500,000,000.00) cumulatively in Productive Fixed Assets (excluding land) by 31 December 1999.
Sample 1

Related to PURPOSE OF THE TERM LOAN

  • Purpose of the Loan The Borrowers undertake with each Creditor Party to use the Loan only for the purpose stated in the preamble to this Agreement.

  • The Term Loan On the terms and conditions set forth in the MLA and this Promissory Note and Supplement, CoBank agrees to make a loan to the Company in an amount not to exceed $20,000,000.00 (the “Commitment”). The Commitment shall expire at 12:00 noon (Company’s local time) on January 30, 2012, or on such later date as CoBank may, in its sole discretion, authorize in writing.

  • Purpose of Loan The Borrower undertakes with each Creditor Party to use the Loan only for the purpose stated in the preamble to this Agreement.

  • PURPOSE OF THE TRUST The purpose of the Trust shall be to (a) manage, conduct, operate and carry on the business of an investment company; (b) subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, pledge, sell, assign, transfer, exchange, distribute or otherwise deal in or dispose of any and all sorts of property, tangible or intangible, including but not limited to Securities of any type whatsoever, whether equity or nonequity, of any issuer, evidences of indebtedness of any person and any other rights, interest, instruments or property of any sort to exercise any and all rights, powers and privileges of ownership or interest in respect of any and all such investment of every kind and description, including without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons to exercise any of said rights, powers and privileges in respect of any of said investments. The Trustees shall not be limited by any law limiting the investments which may be made by fiduciaries.

  • Purpose of the Plan The Plan is intended to advance the best interests of the Company, its Affiliates and its stockholders by providing those persons who have substantial responsibility for the management and growth of the Company and its Affiliates with additional performance incentives and an opportunity to obtain or increase their proprietary interest in the Company, thereby encouraging them to continue in their employment or affiliation with the Company or its Affiliates.

  • The Term Loans (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender with a Term Loan Commitment severally and not jointly agrees to lend to the Borrower on the Restatement Effective Date, the amount set forth opposite such Lender’s name in Schedule 1.1(a) under the heading “Term Loan Commitment” (such amount being referred to herein as such Lender’s “Term Loan Commitment”). As of the Restatement Effective Date and prior to giving effect to this Agreement, the outstanding principal amount of the “Term Loans” under the Original Credit Agreement was $51,630,000. The parties hereto agree that all of the outstanding principal amount and accrued and unpaid interest (to the extent not paid on the Restatement Effective Date) on the “Term Loans” under the Original Credit Agreement shall be automatically deemed to have been, and hereby is, converted into a portion of the outstanding principal amount of the Term Loan A hereunder in like amount without constituting a novation, and each Lender with a Term Loan Commitment severally and not jointly, agrees, on terms and conditions hereinafter set forth, to lend to the Borrower on the Restatement Effective Date the remainder of its Term Loan Commitment (which amounts, collectively with the converted portion and the Converted Term Loans, shall constitute the Term Loan A hereunder), in each case, in an aggregate amount equal to its Term Loan Commitment. Borrower hereby (x) represents, warrants, agrees, covenants and reaffirms that it has no known defense, set off, claim or counterclaim against the Agent and the Lenders as of the Restatement Effective Date with regard to its Obligations in respect of such Term Loan A and (y) reaffirms its obligation to repay such Term Loan A in accordance with the terms and provisions of this Agreement and the other Loan Documents.

  • Purpose of Loans The proceeds of the Loans shall be used to finance the working capital and general corporate needs of the Borrower and its Subsidiaries, including but not limited to acquisitions.

  • Purpose of the Agreement ‌ The purpose of this Agreement is to authorize PDL NPDL to charter space to PFLG in the Trade (as hereinafter defined).

  • Initial Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 11:00 a.m. on the Closing Date requesting that the Term Loan Lenders make the Initial Term Loan as a Base Rate Loan on such date (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Lenders make the Initial Term Loan as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 1:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Initial Term Loan to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Initial Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.

  • Repayment of Term Loan The principal amount of the Term Loan shall be repaid in consecutive quarterly installments as follows, unless accelerated sooner pursuant to Section 7.2: Principal Amortization Payment Dates Term Loan Principal Amortization Payment September 30, 2007 $ 559,375 December 31, 2007 $ 559,375 March 31, 2008 $ 559,375 June 30, 2008 $ 559,375 September 30, 2008 $ 1,118,750 December 31, 2008 $ 1,118,750 March 31, 2009 $ 1,118,750 June 30, 2009 $ 1,118,750 September 30, 2009 $ 1,678,175 December 31, 2009 $ 1,678,175 March 31, 2010 $ 1,678,175 June 30, 2010 $ 1,678,175 September 30, 2010 $ 2,237,500 December 31, 2010 $ 2,237,500 March 31, 2011 $ 2,237,500 June 30, 2011 $ 2,237,500 September 30, 2011 $ 2,237,500 December 31, 2011 $ 2,237,500 March 31, 2012 $ 2,237,500 Term Loan Maturity Date The remaining outstanding principal amount of the Term Loan

Time is Money Join Law Insider Premium to draft better contracts faster.