Common use of Closing Date Loans Clause in Contracts

Closing Date Loans. On the Closing Date, and subject to the conditions set forth in Section 3.1(A) through Section 3.1(D) hereof, each Lender shall advance to Borrowers a Loan in an amount equal to Five Hundred Thousand Dollars ($500,000).

Closing Date Loans. On the Closing Date, and subject to the conditions set forth in Section 3.1(A) through Section 3.1(D) hereof, each Lender shall advance to Borrowers a Loan in an amount equal to One Million Five Hundred Thousand Dollars ($500,0001,500,000), subject to the deduction for legal fees and expenses paid by Borrowers directly to ▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP as permitted pursuant to Section 8.16.