Required Payment. See Section 1.13.
Required Payment. If the aggregate principal amount at any one time outstanding hereunder exceeds the lending commitment amount of $10,000,000 (without giving effect to any accrued PIK Interest), as such amount may be reduced from time to time pursuant to Section 4(c)(ii), the Company shall, at the time any such excess shall arise, promptly pay to Holder such amount as may be necessary to eliminate the excess.
Required Payment. See SECTION 1.14. ----------------
Required Payment. During the term of this Agreement, GWI's ---------------- obligation to pay Guaranteed Revenues under this Article VI shall remain in effect except as expressly provided in Sections 20.5(b) or 24.3.
Required Payment. The term "Required Payment" is used herein ---------------- as defined in Section 3(i) hereof.
Required Payment. At any time upon: (i) a sale of twenty-five percent (25%) or more of the assets of either of the Borrowers (in a single transaction or a series of transactions not in the ordinary course of business), (ii) a repayment in full of the Senior Loan, or (iii) a Change in Control of any Borrower, the Loan shall be required to be prepaid in full with accrued interest plus the Exit Fee, as set forth in Section 6.3 (Default Rate) and Section 2.6 (Prepayment), at the option of Lender in its sole discretion; provided, however, that no prepayment penalty shall be required for a prepayment due to a Change in Control.
Required Payment. Any amounts due pursuant to this Article 6, shall be paid by the owing Party in the amounts and when required by this Agreement, notwithstanding any event, act, omission, failure, condition, change, excuse, suspension of a Party’s performance under Section 12.1 or Section 12.2 (as the case may be) or contrary provision in this Agreement. The obligations contained in this Article 6 shall survive the termination or expiration of this Agreement. SELLER SECURITY Seller Security . On the Effective Date, as security for Seller’s payment and performance obligations under this Agreement, Seller shall deliver to Buyer, at Seller’s sole cost and expense, cash in escrow (which escrow account shall be different from the Escrow Account established pursuant to Section 3.3(vi)), but shall be governed by rules in the definition of Escrow Account) or Letter(s) of Credit in an amount equal to [[______________] (“Seller Security”).The obligations contained in this Article 7 shall survive the termination or expiration of this Agreement. Seller shall maintain the Seller Security in the foregoing amount until the date that is ninety-eight (98) Days after the later to occur of (a) the expiration or earlier termination of this Agreement, or (b) payment of all obligations due from Seller to Buyer, For purposes of this Agreement, Seller Security shall be deemed to include Initial Seller Security held by Buyer at any time. [PROPOSER TO INSERT NUMBER EQUAL TO THE NUMBER OF MW OF NET DESIGN CAPACITY OF THE PROJECT MULTIPLIED BY ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000 FOR THE SELLER SECURITY IN SECTION 7.1 Seller Security Replacement.
Required Payment. 1. XxxXxxxxxxx, and/or their agents, insurers, or otherwise, shall pay to Interlake the total sum of ONE MILLION, FOUR-HUNDRED THOUSAND and 00/100 DOLLARS ($1,400,000.00) within 30 days of execution of this Agreement.
Required Payment. Borrower covenants and agrees to repay all accrued and outstanding interest on the Note along with $50,000.00 in principal on or before September 30, 2021 (the “Required Payment”). In the event Borrower fails to make the Required Payment on or before September 30, 2021, the Outstanding Balance of the Note will be increased by $750,000.00 (the “Balance Increase”). For the avoidance of doubt, the failure to make the Required Payment shall not be considered an Event of Default. Additionally, in the event Borrower fails to make the Required Payment by September 30, 2021 for any reason, including, but not limited to, Borrower’s inability to make the payment as result of the restriction set forth in Section 3 above, such failure to pay shall still result in the application of the Balance Increase.
