Examples of Demand Loans in a sentence
At any time when any Seller Party is required to make any payment hereunder and such Seller Party does not have sufficient funds to make such payment, Seller shall demand payment of the Demand Loans (or such portion of the Demand Loans as would be sufficient to make such payment) and remit the amount received as a result of such demand to the Servicer, the Purchasers or the Agent (as applicable) for disposition as provided herein.
Upon termination of this Agreement, HDC using funds billed and collected pursuant to Section 1(d) above shall: (i) pay any expenses accrued by P.C. through the termination date; (ii) collect all fees accrued to it through the termination date, including without limitation the payment of the Compensation Amount specified in Section 4 hereof; and (iii) collect the amounts due under the Demand Loans specified in Section 1(b) hereof.
Borrower will use the proceeds of the Loans made hereunder solely in connection with the acquisition or funding of Receivables, to repay the Subordinated Loans, to make Demand Loans and to make dividends in accordance with applicable corporate law and this Agreement.
As consideration for the license of the Service Xxxx, the making of the Demand Loans and the services provided by HDC, P.C. shall pay HDC a sum equal to the Compensation Amount (as defined below); PROVIDED, THAT in no event shall the total compensation exceed the fair market value of the services rendered by HDC.
Notwithstanding the foregoing, as provided in Article 4, if at any time there exists outstanding Demand Loans from the Lending Members to the Defaulting Member, the amount which would otherwise be distributed to the Defaulting Member shall be distributed to the Lending Members in proportion to the balances of their Demand Loans in payment thereof until they have been paid in full.