Project Loans Sample Clauses

Project Loans. The Project Loans may only be used to fund:
Sample 1
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Project Loans. Subject to the terms and conditions set forth in this Agreement, each Bank severally agrees to make loans to the Borrowers pursuant to this subsection (b) from time to time during the period from and including the Closing Date to but excluding the Final Maturity Date; provided that, immediately after each such loan is made, such Bank's Revolving Credit Exposure shall not exceed its Revolving Credit Commitment. Each Borrowing under this subsection (b) shall be made from the several Banks ratably in proportion to their respective Revolving Credit Commitments.
Sample 1
Project Loans. Subject to the terms and conditions set forth in this Agreement, each Bank severally agrees to make loans to Vencor pursuant to this subsection, from time to time during the period from and including the Amendment Effective Date to but excluding the Termination Date, for the purpose of financing capital expansion projects or refinancing Debt that was incurred to finance such projects; provided that, immediately after each such loan is made (and after giving effect to any substantially concurrent application of the proceeds thereof to repay outstanding Loans and Swingline Loans):
Sample 1
Project Loans. (a) The parties contemplate that there will be a series of Project Loans comprising the Loan (with a Project Loan for each Project); provided, however, no Lender shall have an obligation to make advances hereunder with respect to a particular Project until such time as Lenders have approved a Project Loan for such Project in accordance with the terms hereof. Each advance made by Lenders to Borrower under a Project Loan is referred to herein as an "ADVANCE" and collectively as "ADVANCES". Each Lender's Advances under a Project Loan shall not exceed such Lender's Percentage Share of the Project Loan.
Sample 1
Project Loans. The Company may enter into agreement(s) with third party lenders(s) for loan(s) (the "Loan" or "Loans") to finance the construction of the Improvements and development and operation of the Project, if the amount and terms of any such Loan are approved by the unanimous consent of the Directors. Xxxxxx'x agrees to individually guarantee up to Sixty Million Dollars ($60,000,000.00) in Loans on behalf of the Company ("Xxxxxx'x Guarantee"). However, after the Xxxxxx'x Guarantee has been retired, refinanced, or released, Xxxxxx'x shall have no further obligation to incur or guarantee debt on behalf of the Company. Xxxxxx'x represents and warrants that the Loans will not contain any covenants or conditions enabling the lender to hold the Company in default by virtue of any act or omission of Xxxxxx'x in its capacity solely as guarantor including, without limitation, any violation of a financial covenant which results in an acceleration of the Loan. If the Company is unable to obtain the Loans within six (6) months of the Effective Date, then this Agreement shall terminate, the Company shall be dissolved and each Stockholder shall be responsible for its own predevelopment and construction costs, except for those out of pocket expenses that uniquely benefit the Company, including but not limited to, the preparation and drafting of organizational and development documents, financing fees, and loan commitment costs. Payment of such expenses shall be shared in proportion to the Stockholder's Percentage Interest. Notwithstanding anything contained herein to the contrary,
Sample 1
Project Loans. To the best of Borrower’s knowledge, no default or event of default has occurred with respect to any of the Project Loans except as to those Project Loans disclosed to Lender prior to the date hereof including, without limitation, the Project Loans identified at Schedule 3 (6) and Schedule 3 (7) hereto.
Sample 1
Project Loans 
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Related to Project Loans

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Loan Advances (a) Subject to and upon the terms and conditions of this Agreement, during the Revolving Loan Period, Bank agrees to make one or more Loan Advances to Borrower for Approved Purposes in an aggregate principal amount at any one time outstanding up to but not exceeding the Maximum Loan Amount. Within the limit of the Maximum Loan Amount in effect from time to time, during the Revolving Loan Period, Borrower may borrow, repay, and reborrow at any time and from time to time from the Effective Date to the earlier of (a) the expiration of the Revolving Loan Period, or (b) the Termination Date. If, by virtue of payments made on the Note during the Revolving Loan Period, the principal amount owed on the Note prior to the Termination Date reaches zero at any point, Borrower agrees that all of the Collateral and all of the Loan Documents shall remain in full force and effect to secure any Loan Advances made thereafter and the Obligations, and Bank shall be fully entitled to rely on all of the Collateral and all of the Loan Documents unless an appropriate release of all or any part of the Collateral or all or any part of the Loan Documents has been executed by Bank. Borrower acknowledges and agrees that the Maximum Loan Amount is calculated in conjunction with the Maximum Purchase Amount under the Mortgage Warehouse Agreement such that in no event shall the aggregate of the outstanding principal balance of the Loan hereunder and the outstanding Purchase Price of the Purchased Mortgage Loans exceed $200,000,000 at any time. Upon the expiration of the Revolving Loan Period, and provided that no Default or Event of Default has occurred and is continuing, the Revolving Loans shall, without any further action by Bank or Borrower, convert to a term loan (the “Term Loan”) in accordance with the terms of the Promissory Note. Borrower shall initiate each Loan Advance by submitting to Bank a written Advance Request no later than 1:00 p.m., Jacksonville, Florida time, on the Advance Date. Bank shall have no liability to Borrower for any loss or damage suffered by Borrower as a result of Bank’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically, by facsimile or electronically, and purporting to have been sent to Bank by Borrower and Bank shall have no duty to verify the origin of any such communication or the identity or authority of the Person sending it. Subject to the terms and conditions of this Agreement, each Loan Advance shall be made available to Borrower by depositing the same, in immediately available funds, in an account of Borrower designated by Borrower maintained with Bank. If the conditions to making a Loan Advance as set forth in Section 5 are satisfied, then no later than the Advance Date, Bank shall reflect on its computer system the Loan Advance (the “Confirmation”). In the event Borrower disagrees with any terms of the Confirmation, Borrower shall immediately notify Bank of such disagreement. An objection by Borrower must state specifically that it is an objection, must specify the provision(s) being objected to by Borrower, must set forth such provision(s) in the manner that Borrower believes they should be stated, and must be received by Bank no more than one (1) Business Day after the Confirmation was received by Borrower.

  • Existing Loans Schedule 3.14(a) attached hereto lists, as of the date of this Agreement, (i) all secured Indebtedness presently encumbering the Property or any direct or indirect interest in the Company, and (ii) all unsecured Indebtedness of the Company or any Company Subsidiary (collectively, the “Existing Company Loans”), and the outstanding aggregate principal balance of each such Existing Company Loan as of April 30, 2019. Except as set forth on Schedule 3.14(b) attached hereto, the Existing Company Loans and the documents entered into in connection therewith (such notes, deeds of trust and all other documents or instruments evidencing or securing such Existing Company Loans including any financing statements, and any amendments, modifications, and assignments of the foregoing shall be referred to collectively as the “Existing Company Loan Documents”) are in full force and effect as of the Closing Date. True, correct and complete copies of the Existing Company Loan Documents (other than financing statements, ancillary certificates and other similar ancillary documents) have been made available to MAMP. No material breach or material default by the Company or any Company Subsidiary has occurred under any Existing Company Loans. Except as set forth on Schedule 3.14(c) attached hereto, no event has occurred and is continuing which with the passage of time or the giving of notice (or both) would constitute a material breach or default under any of such Existing Company Loan Documents, nor has the Company received or given written notice of a default under any Existing Company Loan Documents, which remains uncured.

  • Initial Loans 36 7.2 Initial and Subsequent Loans.................................................................39

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

  • Equipment Loans Section 2.3(b) of the Loan Agreement shall be amended and restated in its entirety as follows:

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Other Loans In the event the Partnership is in need of additional funds other than an FF&E Loan or a Capital Improvement Loan, the Company may, but shall not be obligated to, make loans to the Partnership in such amounts as are necessary. Any such loan shall bear interest at a rate, and shall have repayment terms, as the General Partner shall reasonably determine.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Acquisition Loans The proceeds of the Acquisition Loans may be used only for the following purposes: (i) for working capital and general corporate purposes, including, without limitation, the issuance of Letters of Credit and to pay outstanding Floor Plan Loans; and (ii) to make Permitted Acquisitions.

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