Additional Loan. On the terms and subject to the conditions of this Agreement, upon a draw by the Seller under the Novartis Letter of Credit (which draw cannot be made until one year after the Closing Date pursuant to the terms of the Asset Purchase Agreement) to satisfy the remaining purchase price obligations of the Asset Purchaser under Section 9.2 of the Asset Purchase Agreement, the Lender agrees to lend to Borrower the entire amount of its Additional Commitment. The Borrower agrees that the Additional Loan shall be made on behalf of Borrower but the proceeds of the Additional Loan shall be funded directly to the Issuing Bank to reimburse the Issuing Bank for the Seller’s draw under the Novartis Letter of Credit, if any. The Additional Commitment shall immediately terminate upon the funding of the Additional Loan. If the Additional Loan is not funded on the first anniversary of the Closing Date, the Additional Commitment shall immediately terminate. The Agent shall provide written notice to the Borrower of the funding of the Additional Loan within one Business Day of such funding.
Additional Loan. The Borrower may, upon written request to the Agent, elect to request on a single occasion, within the 12 (twelve) months following the execution date of this Agreement (“Increase Term”), the granting of an additional loan (“Additional Loan”), up to a principal amount of USD$18,613,000.00 (eighteen million six hundred thirteen thousand and 00/100 Dollars). Upon receipt of the application for Additional Loan, the Agent shall offer it, (i) in the first instance, to each of the Creditors (and each of the Creditors will have the right, but not the obligation, to increase their respective Commitments, on a pro rata basis to the amount of the Loan they have at that time, by the total amount of the Additional Loan); (ii) in the second instance, with respect to those amounts that have not been subscribed by the Creditors in the first instance, the Agent shall offer it to each of the Creditors that have decided to increase their respective Commitments pursuant to the foregoing, (iii) in the third instance, with respect to those amounts that have not been subscribed by the Creditors in the first and second instance, to certain financial institutions acceptable to the Agent (“Additional Creditors”). The Borrower acknowledges and agrees that the Creditors will have no obligation to the Borrower to extend any Additional Loan and that the Agent shall use only its best efforts to offer such Additional Loan among the Creditors and/or the Additional Creditors, as applicable, without the Agent being bound in any way to obtain funds for the granting of the Additional Loan. The Additional Loan, if any, shall be borrowed by the Borrower within the Borrowing Window, in one or more installments, in accordance with the Construction Programme and the Borrowing and Investment Schedule, provided that the requirements set forth in Clause Three, which will be referred to the Additional Loan, to the extent applicable, have been met in form and substance acceptable to the Agent and the Creditors on or prior to each proposed Borrowing Date. Additionally, the Loan Documents must be in full force and effect.
Additional Loan i. Lender hereby agrees to make an additional loan to Borrower in the principal amount of up to DM 1,392,950.37 (the "Additional Loan"), as is necessary to enable Borrower to satisfy his tax obligations to the German tax authority as a result of Borrower's receipt of 458,334 shares of Lender common EXHIBIT 10.5 stock of the Lender that Borrower received in connection with Lender's acquisition of CATS. Lender will be obligated to make the Additional Loan only if the German tax authority issues a final tax assessment that assesses a greater tax obligation on Borrower than the preliminary tax assessment issued to Borrower by the German tax authority for fiscal year 1998 with respect to Borrower's receipt of 458,334 shares of Lender common stock in connection with Lender's acquisition of CATS.
Additional Loan. Subject to the terms and conditions of this Agreement and the other Loan Documents, the Lender agrees to loan to the Borrower in lawful money of the United States the Additional Loan on the terms hereof and the Borrower hereby irrevocably authorizes the Lender to advance the Additional Loan on the terms hereof. The Additional Loan shall bear interest as set forth in Section 4.1 of this Agreement.”
Additional Loan. In addition to the mortgage relocation loan and the other relocation expense loan referred to Paragraph 1.4(i), the Company shall loan the Executive an additional Forty Thousand Dollars ($40,000.00) to be drawn down as requested by the Executive on or before April 16, 2001. This additional loan shall be evidenced by an appropriate promissory note providing for payment of accrued interest in ten equal payments of principal, each in the amount of Four Thousand Dollars ($4,000.00), to be deducted from Executive's net after-tax annual bonus payment as may be made by the Company to Executive in October of each year commencing in October, 2001. Should any annual bonus payment due Executive not equal the installment then due, the unpaid balance of principal only shall be added to the next year's installment with all the remaining unpaid principal balance and accrued interest due and payable on or before October 31, 2010. All accrued interest for each period preceding a installment payment date shall be paid by Executive no later than October 31 of each year either by deduction from Executive's net after tax annual bonus payment or directly by Executive if the bonus payment is not sufficient. The note evidencing this additional loan shall further provide that it shall be due and payable in full within 120 days of the termination of the Executive's employment with the Company for any reason. Furthermore, the note shall provide for interest at a rate equal to the one-year United States Treasury constant maturity rate for the month of July, 2000, as published by the Federal Reserve Board of Governors plus one percent (1%) and shall be adjusted commencing September 1, 2001 and annually each September 1 thereafter to the then most recently published one year constant maturity rate for the month of July of each succeeding year plus one percent (1%). At the option and expense of the Company, the Executive's obligations under the note may be secured by a second mortgage note on the Australian Property. Except as specifically provided herein, the Agreement is in all respects ratified and confirmed, and all the terms, conditions and provisions thereof shall be and remain in full force and effect for any and all purposes. From and after the date of this Third Amendment, any and all references to the Agreement shall refer to the Agreement as amended by the First, Second and Third Amendments.
Additional Loan. Provided there is no Event of Default under this Agreement, the Company may notify the Lender in writing at any time after 30 days from the Initial Loan Closing Date that the Company wishes to borrow the Additional Loan. The Lender shall have the sole option of making the Additional Loan. The Additional Loan shall be evidenced by a Note, duly executed on behalf of the Company and dated as of the Additional Loan Closing Date.
Additional Loan. Lender shall disburse the Additional Loan as directed by Manager on the Conversion Date, in the amount (if any) by which the Re-sized Amount exceeds the then unpaid Principal of the Initial Loan; provided the following conditions precedent are satisfied:
Additional Loan. The Additional Loan will bear interest at the Additional Loan Interest Rate, which shall be due and payable monthly, in arrears, in Cash.
Additional Loan. (a) So long as no Default has occurred and is continuing, at any time prior to the Tranche B Maturity Date, the Borrower may request an additional commitment of up to an aggregate principal amount of $50,000,000 (the "Additional Loan Commitment"). No Lender or other -------------------------- Person shall be obligated to provide any Additional Loan Commitment. The Administrative Agent shall assist and cooperate with (but shall not be obligated to provide an Additional Loan Commitment to) the Borrower in connection with obtaining the Additional Loan Commitments. All Additional Loan Commitments will be issued on the same date.
Additional Loan. Provided there is no Event of Default under this Agreement, RMK shall make an Additional Loan to the Company of up to $200,000. RMK shall be obligated to make the Additional Loan so long as there is no Event of Default within 20 calendar days of the Initial Loan Closing Date. The Additional Loan shall be evidenced by a Note, duly executed on behalf of the Company and dated as of the Additional Loan Closing Date."
