Secured Loan. Each Loan Participant agrees to provide ------------ immediately available funds in the amount determined by multiplying Lessor's Cost by the percentage set forth opposite its name on Schedule I (each such commitment being referred to as a Loan Participant's "Commitment") to or on behalf of the Owner Trustee by paying or causing to be paid such amount to the Owner Trustee, at the account specified by the Lessee on or prior to the Delivery Date such amount to be held and applied toward the Owner Trustee's payment to the Lessee of Lessor's Cost for the Aircraft on the Delivery Date (and if not so applied, to be promptly returned to the Loan Participants). Such funds, once so applied, shall constitute a loan to the Owner Trustee to be evidenced by the Equipment Notes and secured as provided in the Indenture.
Secured Loan. Claims On the Effective Date, each holder of an Allowed Secured Loan Claim shall receive, in full satisfaction of its claim pursuant to the Restructuring Transactions (including a waiver of any deficiency claims related thereto), its pro rata share of 5.0% of the Reorganized Parent Common Stock at the Undiscounted Price Per Share (the “Secured Claims Equity Conversion”), subject to dilution by the DIP Backstop Equity Issuance, the Rights Offering, the Warrants, the New Equity Incentive Plan and conversions, if any, of the Reorganized Parent Participating Preferred Stock. Impaired; entitled to vote.
Secured Loan. A loan granted by a Lender to a Borrower to finance Collateral Objectives in respect of which WSW has entered into a guarantee agreement or an undertaking to indemnify or pay in any form whatsoever.
Secured Loan. Subject to the terms and conditions of this Agreement, at the Closing (as defined in Section 2) Newco and the Company shall enter into a secured loan agreement in the form attached as Exhibit A hereto (the "Secured Loan Agreement") and Newco shall fund the Refinancing Loan (as defined in the Secured Loan Agreement). The Secured Loan Agreement will also grant to Newco an option (the "Option") to acquire, on the terms provided in the Secured Loan Agreement, 500,000 shares (the "Preferred Shares") of Series B Preferred Stock, stated value $40 per share, of the Company ("Series B Preferred Stock"), which Series B Preferred Stock shall have the terms of the Articles of Amendment in the form of Exhibit B hereto.
Secured Loan. On the Option Exercise Date, (i) Walcott shall lend to Schrxx xx amount (the "First Loan Amount") equal to the sum of (a) the Purchase Price and 2 (b) 37% of the difference between the Purchase Price and the fair market value (as defined in the Unit Option, measured as of the Option Exercise Date) of the Option Units in connection with his exercise of the Unit Option (the "Loan") by transferring to BCLP on Schrxx'x behalf, upon receipt of the Walcott Note (as defined herein) executed by Schrxx, xxe First Loan Amount in immediately available funds, and (ii) Schrxx xxxll execute a promissory note in favor of Walcott (the "Walcott Note"), the form of which is attached to this Agreement as Exhibit C, and grant therein to Walcott a first-priority security interest in the Option Units and all proceeds therefrom (the "Walcxxx Xxxx"). The Loan will be due and payable on the earlier of (a) the date on which Schrxx xxxls the Option Units (subject to the terms and provisions of this Agreement) and (b) April 15, 1999. No interest will be charged by Walcott on the Loan. The Loan will be recourse to Schrxx. Walcott and Schrxx xxxee that the Walcott Note shall be a "security agreement" under the provisions of Article 8 of the Delaware Uniform Commercial Code (Del. Code Ann., Xitle 6, Subtitle I), and that the security interest granted thereby shall be a "purchase money security interest" under the provisions of Article 9 of the Delaware Uniform Commercial Code. Schrxx xxxees to effect his pledge to Walcott of the Option Units by directing BCLP's transfer agent to deliver the Option Units to Walcott at such location, or to such third-party holder, as Walcott directs, along with duly executed instruments of transfer or assignment in blank, in form and substance satisfactory to Walcott, in order further to perfect Walcott's security interest therein. Walcott and Schrxx xxxee to take all reasonable steps necessary to effectuate such pledge of the Option Units, in compliance with all applicable laws and regulations.
Secured Loan. Each Loan Participant agrees to provide ------------ immediately available funds in the amount set forth opposite its name on Schedule I (each such commitment being referred to as a Loan Participant's "Commitment") to or on behalf of the Company by paying or causing to be paid such amount to the Company, at the account specified by the Company on or prior to the Delivery Date. Such funds shall constitute a loan to the Company to be evidenced by the Equipment Notes and secured as provided in the Indenture.
Secured Loan. The Company will provide the Executive with a loan with a principal amount of $5,000,000, to facilitate the purchase of a residence in the Southern California area. The loan is to be secured by a First Trust Deed on the residence and will be structured as an interest-only loan with a balloon payment of the entire principal amount and all interest accrued during the term of the loan due on January 15,
Secured Loan. In order to execute the Company’s strategy of rapidly expanding into 82 Staples locations and to comply with the requirements of the Staples contract, the Company and Hawkeye Ventures, Ltd (“Lender”) entered into a Loan, Security, Royalty and Stock Agreement dated as of October 9, 2015 (the “Loan Agreement”) whereby Lender has made a loan to the Company in the amount of $570,000 (the “Loan”) to pay the costs associated with manufacturing drying machines for the Company’s Staples contract. The Loan bears interest at 13% per year, is due on August 14, 2018, is secured by all the assets of the Company and requires monthly payments of interest only until September 14, 2016 when it becomes fully amortizing. The Loan has been personally guaranteed by each Founder who have also secured the Loan by a trust deed on their respective personal residences and the Company has purchased key man insurance on the life of each Founder in an amount sufficient to repay the Loan. The Company believes that utilizing the Loan to finance the equipment manufacturing was more efficient and less dilutive to the Company’s stockholders than raising equity for this purpose.
Secured Loan. If the Company is unable to repay the Loan on or before the maturity date, the Lender could take control of the Company’s assets.
Secured Loan. The term ‘‘secured loan’’ means a direct loan funded by the Sec- retary in connection with the financing of an aircraft purchase under section 41763(b).
