PROCEDURE AND CONDITIONS FOR THE PAYMENT OF THE LOAN Sample Clauses

PROCEDURE AND CONDITIONS FOR THE PAYMENT OF THE LOAN. 3.1. Within 14 (fourteen) calendar days from the date of concluding the Loan Agreement, the Operator shall submit to the Borrower a unilateral statement indicating whether the Operator agrees to pay the Loan amount to the Borrower or refuses to do so. If the Operator declares that it refuses to pay the Loan amount, this Loan Agreement shall be deemed terminated. If the Operator declares that it agrees to pay the Loan amount, the Operator shall pay the Loan amount as specified in Section 3 of the Loan Agreement. 3.2. The Operator's statement to pay the Loan amount or not to pay it, as specified in Clause 3.1. of the Loan Agreement, shall be considered to be a unilateral transaction that give rise to the rights and obligations only for the Operator and determines the further performance or termination of this Loan Agreement. 3.3. The Operator's statement to the Borrower stating that the Operator refuses to pay the funds under the Loan Agreement, as set forth in Clause 3.1. of the Loan Agreement, shall not be considered as termination of the Loan Agreement. This is the basis for the termination of the Loan Agreement upon its proper performance. Upon such declaration, the Loan Agreement shall terminate and the Parties shall not have any property or non-property claims against each other under this Loan Agreement. 3.4. The Operator shall pay the Loan (after deducting the fees payable by the Borrower to the Operator for the provision of services of the crowdfunding platform operator) to the Borrower's Account specified in the Special Terms and Conditions within 3 (three) business days when all the following conditions are met (the Operator has the right to refuse to demand the fulfilment of any of the following conditions at its own discretion, 3.4.1. A period of 4 (four) days has passed since the Borrower has been fully funded, which is designated as a pre-contractual reflection period for inexperienced investors, during which they have the right to withdraw their proposal to finance the Borrower. 3.4.2. All statements and warranties of the Borrower and Related Persons are accurate, true and valid;
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Related to PROCEDURE AND CONDITIONS FOR THE PAYMENT OF THE LOAN

  • Conditions Precedent to Obligations of Each Party The obligations of each Party to effect the Merger and otherwise consummate the Contemplated Transactions to be consummated at the Closing are subject to the satisfaction or, to the extent permitted by applicable Law, the written waiver by each of the Parties, at or prior to the Closing, of each of the following conditions:

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each L/C Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

  • CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER The obligation of Seller to consummate the transactions contemplated by this Agreement shall be subject to the satisfaction, on or before the Closing Date hereunder, of each of the following conditions, all or any of which may be waived, in whole or in part, by Seller.

  • Conditions Precedent to Obligations of Sellers The obligation of Sellers to consummate the transactions contemplated by this Agreement shall be subject to the satisfaction, on or before the Closing Date hereunder, of each of the following conditions, all or any of which may be waived, in whole or in part, by Sellers.

  • Conditions Precedent to Obligation of Seller The obligation of Seller to consummate the transaction hereunder shall be subject to the fulfillment on or before the date of Closing of all of the following conditions, any or all of which may be waived by Seller in its sole discretion: (a) Seller shall have received the Purchase Price as adjusted pursuant to and payable in the manner provided for in this Agreement. (b) Purchaser shall have delivered to Seller all of the items required to be delivered to Seller pursuant to the terms of this Agreement, including but not limited to, those provided for in Section 4.3. (c) All of the representations and warranties of Purchaser contained in this Agreement shall be true and correct in all material respects as of the date of Closing. (d) Purchaser shall have performed and observed, in all material respects, all covenants and agreements of this Agreement to be performed and observed by Purchaser as of the date of Closing.