Common use of Prepayment Notices Clause in Contracts

Prepayment Notices. Within two (2) business days following receipt by the Borrower, on or after the date hereof, of net funds from (i) the Funding Program, (ii) an Asset Sale, or (iii) Oil and Gas Proceeds; the Borrower shall provide written notice to the holders of the Bridge Loan Notes with respect to the receipt of such funds.

Appears in 2 contracts

Sources: Bridge Loan Agreement (Houston American Energy Corp), Bridge Loan Agreement (Houston American Energy Corp)