Advance Amount. Subject to the terms and conditions of this Agreement, each Lender will make its Pro Rata Share of the Term Advance to Borrower on the Closing Date. The proceeds of the Term Advance shall be first used to repay in full all amounts outstanding under that certain Loan and Security Agreement by and between Borrower and East West Bank dated as of September 15, 2011, with the remaining amount being transferred to Borrower by wire transfer to such account as Borrower specifies in writing to Administrative Agent.
Appears in 2 contracts
Sources: Loan and Security Agreement (Ubiquiti Networks, Inc.), Loan and Security Agreement (Ubiquiti Networks, Inc.)