Subsequent Advance Sample Clauses

Subsequent Advance. On and after the date on which Borrower files the Form S-4 with the SEC, Borrower may request, and Lender shall provide to Borrower, a single Advance in the aggregate principal amount equal to $800,000 (the “Subsequent Advance”); provided, that with respect to the Subsequent Advance, Borrower delivers to Lender an irrevocable notice not later than noon (New York time) five (5) Business Days prior to the Borrowing Date for the Subsequent Advance, specifying the Borrowing Date, which shall be a Business Day, of the Subsequent Advance (the “Borrowing Notice”).

Subsequent Advance. Lender shall not be required to make the Subsequent Advance, unless on the applicable Borrowing Date: (a) No Event of Default of Default shall have occurred and be continuing or would result from the Subsequent Advance; (b) Borrower shall have filed with the SEC, and shall not have withdrawn, the Form S-4. (c) The Merger Agreement shall be in full force and effect. (d) There shall not have occurred a Material Adverse Effect. (e) At least five (5) Business Days shall have elapsed since Borrower shall have furnished to Lender a Borrowing Notice. Each Borrowing Notice with respect to each such Advance shall constitute a representation and warranty by Borrower that all of the conditions contained in this Section 4.2 have been satisfied.

Subsequent Advance. After May 25, 2012 and prior to the earlier of (i) the Maturity Date and (ii) the first date on which the Notes together with all accrued interest have been repaid in full, the Company may deliver to the Purchasers a written notice (the “Borrowing Notice”) (a) setting out that no Default (as defined under the Notes) has occurred and is continuing; and (b) requesting a subsequent advance from each of the Purchasers of up to the same amount funded by each such Purchaser in its initial Advance at Closing (each, a “Subsequent Advance”). The Borrowing Notice shall be deemed to repeat the Company's representations and warranties in Section 5 of the Notes as of the date of such Borrowing Notice. Upon receipt of the Borrowing Notice, each of the Purchasers, in its sole discretion, may make available to the Company its Subsequent Advance in immediately available funds. For the avoidance of doubt, any Subsequent Advance shall be considered an increase in the principal amount of the Notes held by such Purchaser commencing on the date such Subsequent Advance is made available and the Company shall issue the relevant Purchaser in accordance with this Agreement one Warrant for every two dollars of such Subsequent Advance.

Subsequent Advance. The Noteholder shall make a subsequent Advance of $2,288,000 within five Business Days after the Borrower files its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (the “Commission”) in a form acceptable to the Noteholder, provided that such filing is made on or before May 15, 2024. The Borrower acknowledges and agrees that such subsequent Advance shall be disbursed with an original issue discount equal to $288,000 (net availability of $2,000,000 after deduction of such original issue discount). As a condition to the disbursement of such subsequent Advance, the Borrower shall, at least prior to the disbursement date selected by the Noteholder, (i) deliver to the Noteholder a written notice setting out (a) that no Default or Event of Default has occurred and is continuing, or to the knowledge of the Borrower, is expected to occur, (b) that the Borrower’s representations and warranties in Section 8 as of the date of such notice are true and correct in all respects and (c) that all covenants contained in the Side Letter including any post-closing covenants had been complied with and (ii) any debentures and security documents required to be executed by the Company’s United Kingdom subsidiaries shall have been executed and any other requirements related to the granting of security thereto shall have been completed.

Subsequent Advance. Upon receipt by the Lender of the Mortgage Loan Schedule and Exception Report including each of the Limited File Loans (showing no Exceptions thereto other than those approved by the Lender) which were the subject of an initial advance on the immediately preceding Funding Date, the Lender shall make a subsequent advance with respect to such Eligible Mortgage Loans equal to the difference between the amount of the initial advance and the amount which would have been funded on the Funding Date in accordance with the valuation method as described in Section 2.1(a) hereof.

Subsequent Advance. Any subscription for the Class A-2 Notes by the Sole Shareholder (at the direction of the Collateral Manager and with the prior written consent of UBS (acting in its sole discretion)) on any date after the Amendment and Restatement Date.

Subsequent Advance. Provided an Event of Default has not occurred and is continuing, the Borrower is in compliance with all terms and conditions herein contained and subject to and fulfilment of the conditions precedent contained in paragraph 7.2 of this Agreement, after August 31, 2012, but with five Business Days prior notice the Lender will advance to the Borrower the amount of the Subsequent Advance requested by the Borrower on a Business Day requested by the Borrower, provided such Business Day is on or before the Draw Period End Date (the “Subsequent Advance Date”).

Subsequent Advance. Any time beginning fifteen (15) days prior to an AdvanceP eriod through the end of such Advance Period as set forth on Schedule 2.1.2, Company may by delivering to Lender an Advance Request in the form provided by Lender to Company (“Advance Request”) request one or more Subsequent Advances in accordance with the Schedule 2.1.2 up to a maximum for all Advances equal to the Revenue Loan Amount. Within fifteen (15) business days of such receipt of an Advance Request, Lender shall advance to Company the requested amount if (i) the amount of all Advances previously advanced to Company by Lender plus the new Advance so requested does not exceed the Revenue Loan Amount, (ii) the amount of all previous Subsequent Advances plus the new Advance so requested does not exceed the amount of Subsequent Advances permitted as shown on Schedule 2.1.2 for the applicable Advance Period, (iii) no Event of Default has occurred, (iv) Company provides Lender with a Certificate of Perfection together with the Advance Request, (v) all representations and warranties of Company in Article 3 are true as of the date of each Subsequent Advance, and (vi) the requested advance is at least $100,000 (or the remaining amount of the available Subsequent Advances, if less than $100,000 in availability remains). Contemporaneously with each Subsequent Advance, Company shall deliver to Lender a certificate signed on behalf of the Company by the Key Person (or other officer of Company acceptable to Lender) confirming that no Event of Default has occurred and that all representations and warranties of Company in Article 3 are true as of such date (except to the extent such representations and warranties expressly relate to an earlier date, in which case as of such earlier date). Lender may, in its sole discretion, waive or modify any one or more of such conditions to any Subsequent Advance.

Subsequent Advance. Any time beginning 15 days prior to an Advance Period through the end of such Advance Period as set forth on Schedule 2.1(b), Company may by delivering to Lender a written Advance Request in the form provided by Lender to Company (“Advance Request”) request one or more Subsequent Advances in accordance with the Schedule 2.1(b) up to a maximum principal amount for all Advances equal to the Revenue Loan Amount. If all of the conditions set forth on Schedule 2.1(b) are satisfied on the date of the Advance Request, Lender will advance to Company the requested amount within 15 business days of receipt of such Advance Request.