Sponsor Loan Sample Clauses

Sponsor Loan. On each Option Closing Date, the Sponsor shall have made the Sponsor Loan related to the Option Units to be issued upon such Option Closing Date in accordance with the Sponsor Loan Note and Section 1.3.3 and Section 3.24 of this Agreement.
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Sponsor Loan. On the Closing Date, the Sponsor shall have made the Sponsor Loan in accordance with the Sponsor Loan Note and Section 1.3.3 and Section 3.24 of this Agreement.
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Sponsor Loan. Upon consummation of the Offering, the Sponsor shall lend to the Company $1,500,000, or $1,725,000 if the Over-Allotment Option is exercised in full (the "Sponsor Loan"). The Sponsor Loan shall be evidenced by a promissory note (the "Sponsor Convertible Note") and bears nominal or no interest and shall be repayable only upon consummation of a Business Combination, or, at the option of the Sponsor, be converted into warrants ("Sponsor Loan Warrants").
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Sponsor Loan. Borrower shall repay the Sponsor Loan from Borrower's Share of Residual Receipts. Section 3.21
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Sponsor Loan. At the Closing, immediately prior to the IntermediateCo Contribution and Issuance, the Surviving Corporation shall repay in full the outstanding amount due under the Sponsor Loan pursuant to the Payoff Letter to the payee set forth on such Payoff Letter by wire transfer of immediately available funds to the accounts designated by such payee.
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Sponsor Loan. Neither the Borrower nor any of its Subsidiaries shall (i) prepay, redeem, purchase, defease, or otherwise satisfy prior to the scheduled maturity thereof in any manner the Indebtedness evidenced by the Sponsor Loan, (ii) make, create, incur, assume or suffer to exist any Lien upon or with respect to any of its property to secure the Sponsor Loan or any guarantee thereof, (iii) permit interest to be paid on the Sponsor Loan other than by accrual thereof, compounded not more frequently than quarterly, or (iv) enter into any modification, alteration or amendment of the documentation evidencing the Sponsor Loan or any guarantee thereof if such modification, alteration or amendment adversely affects the rights or interests of the Borrower or the Lenders.
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Related to Sponsor Loan

  • PPP Loan On or about January 24, 2022, the PPP Loan was forgiven in full by the PPP Lender and the U.S. Small Business Administration in accordance with the terms of the PPP Loan, CARES Act, and all other applicable Laws.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • Revolving Loan The Borrower shall repay to the Lenders in full on the date specified in clause (a) of the definition of “Revolving Termination Date” the aggregate principal amount of the Revolving Loans and Swing Loans outstanding on the Revolving Termination Date.

  • Existing Loan Seller represents and warrants that the Existing Loan is the only indebtedness secured by the Property and that the information contained on Exhibit H is true, correct and complete. Neither Seller nor any guarantor is in default or breach of any provisions of the documents evidencing the Existing Loan and no event or circumstance has occurred or exists which but for the passage of time would be a default under the Existing Loan. At Closing, Buyer shall assume the Existing Loan and Buyer shall pay all administrative fees, assumption fees and underwriting costs, if any, charged by the Existing Lender in connection with said assumption. Seller shall cooperate with Buyer in Buyer’s efforts related to the assumption of the Existing Loan including executing such applications, certificates and other documents required by the Lender and providing any information required by the Lender in connection with the assumption of the Existing Loan. Seller shall be responsible for the costs of its attorneys, and Buyer shall be responsible for the costs of its attorneys. In addition, Buyer shall be responsible for the cost, if any, of Existing Lender’s attorneys, related to the assumption of the Existing Loan.

  • Initial Loan The obligation of the Lender to make its initial Loan hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Loan, of the condition precedent that the Lender shall have received all of the following items, each of which shall be satisfactory to the Lender and its counsel in form and substance:

  • Prepayment of the Loan The Company may from time to time prepay all or any portion of the Loan without premium or penalty of any type. The Company shall give the Lender at least three Business Day prior written notice of its intention to prepay the Loan, specifying the date of payment and the total amount of the Loan to be paid on such date.

  • Revolving Loan Prepayments (i) In the event of the termination of all the Revolving Commitments, Borrower shall, on the date of such termination, repay or prepay all its outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i).

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • 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.

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