SINGLE ADVANCE Clause Samples

SINGLE ADVANCE. 9 2.2 Note..................................................

SINGLE ADVANCE. The Acquisition Loan shall be advanced in a single advance to Borrower upon satisfaction of the conditions precedent described in Article III of this Agreement, subject to the terms and conditions of this Agreement. The date on which the advance is made is sometimes referred to herein as the “Closing Date.”

SINGLE ADVANCE. In accordance with the terms of this Agreement and other Loan Documents, you will provide me a term note in the amount of $4,000,000.00 (Principal). I will receive the funds from this Loan in one advance. No additional advances are contemplated except those made to protect and preserve your interests as provided in this Agreement or other Loan Documents.

SINGLE ADVANCE. In accordance with the terms of this Agreement and other Loan Documents, you will provide me with a term note in the amount of

SINGLE ADVANCE. In accordance with the terms of this Agreement and the other Loan Documents, Borrower will provide Lender with a promissory note in the amount of $900,000.00. Borrower will receive the funds from the Loan in one advance. No additional advances are contemplated, except those made to protect and preserve Lender’s interests as provided in this Agreement or in any of the other Loan Documents.

SINGLE ADVANCE. The Company shall borrow the proceeds of the Term Loan in a single advance. Amounts repaid with respect to the Term Loan may not be re-borrowed.

SINGLE ADVANCE. The original principal amount of the Loan shall be up to a maximum of $15,000,000 which will be advanced as a single Advance as of the Closing Date. Lender shall have no obligation to make any other advances, readvances or further loans hereunder to Borrower other than the Advance detailed in the preceding sentence.

SINGLE ADVANCE. The Lender hereby agrees, on the terms and subject to the conditions of this Agreement, to make a single advance to the Borrower at the Closing up to, but not exceeding, $2,950,000; provided that under no circumstances shall the amount of the advance result in a Loan to Value Ratio of greater than 60%.

SINGLE ADVANCE. Prior to the date of this Agreement, the Company borrowed the proceeds of the Term Loan in a single advance. The Company acknowledges and agrees that amounts repaid with respect to the Term Loan may not be re-borrowed. The Company further acknowledges and agrees that the unpaid principal balance of the Term Loan is $12,958,000.00 as of the date of this Agreement.