The Initial Loan Clause Samples

The Initial Loan. The obligation of Lender to make the initial Loan is subject to fulfillment of the following conditions.
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The Initial Loan. Lender shall make Advances of the Initial Loan from and after the date hereof and prior to the Conversion Date, in accordance with, and subject to the terms and conditions of, the BLA. The Initial Loan shall be used solely to pay BLA Costs in the BLA Budget and other amounts as provided in the BLA.
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The Initial Loan. At the Initial Loan Closing, the Purchaser shall make the Initial Loan (assuming satisfaction of all conditions to the Purchaser's obligation to make the Initial Loan).
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The Initial Loan. The Borrower desires to (i) refinance certain existing debt (as set forth on SCHEDULE 2.1(a), the "EXISTING DEBT") secured by Liens encumbering the Borrower's right, title and interest in certain of the Properties and (ii) make the Shell Payment. The Existing Debt is secured by Liens (the "EXISTING LIENS") under those security instruments executed by the Borrower listed on SCHEDULE I to each Assignment of Note and Liens. Subject to the conditions precedent set forth in SECTIONS 9.2 and 9.3, the Lender shall, contemporaneously with the Closing, purchase the entire Existing Debt from the Existing Debt Holders in accordance with and subject to the terms and conditions of the Assignments of Note and Liens. Upon such purchase, the Borrower shall issue to the Lender (i) a promissory note in the form of EXHIBIT B-1, appropriately completed (as amended, restated, supplemented or otherwise modified from time to time, the "ADVANCING NOTE") in the face principal amount of Thirty-Two Million, Six Hundred Twenty-Seven Thousand, Seven Hundred Forty-Four and No/100 Dollars ($32,627,744.00) and (ii) a promissory note in the form of EXHIBIT B-2, appropriately completed (the "ENCAP JUNIOR NOTE") in the face principal amount of Two Million Eight Hundred Eighty-Six Thousand Eight Hundred Thirty-One and No/100 Dollars ($2,886,831.00) which Advancing Note and EnCap Junior Note shall modify the terms (including the interest rate) of, but not extinguish or novate, the Existing Debt and which Advancing Note shall evidence both the Initial Loan (including Existing Debt in the amount of $17,867,195) and the Development Loans. Immediately following the issuance to it of the EnCap Junior Note, the Lender shall sell the entire EnCap Junior Note, and reconvey a portion of the Existing Liens, to EnCap Energy Capital Fund III, L.P., in accordance with and subject to the terms and conditions of the Assignment of Junior Note and Liens. Subject to the conditions precedent set forth in SECTIONS 9.2 and 9.3, the Lender shall, at the Closing, advance to the Borrower so that the Borrower may make the Shell Payment and pay amounts payable by the Borrower as provided in SECTION 7.1(y), the amount of Eight Million One Hundred Ninety-Two Thousand One Hundred and Twenty-Seven and No/100 Dollars ($8,192,127.00) such amount, together with the portion of outstanding principal balance of the Existing Debt to be evidenced by the Advancing Note, and the Six Hundred Thousand Five Hundred Forty-Four Dollars ...
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The Initial Loan. (a) THE LOAN. Lender agrees, on the terms and conditions hereinafter set forth, to make a loan (the "Initial Loan") to Borrower in the aggregate principal amount of Eleven Million, Eight Hundred Thousand Dollars ($11,800,000). The Initial Loan shall be made immediately prior to the date that the Borrower is required to make up-front deposits to the FCC for the F-Block Auction and shall be used by Borrower for such purpose and for the purposes set forth in Paragraph (b) of this Section 2.01.
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The Initial Loan. At Closing (as defined herein), Lender shall advance the initial loan to the Company in the amount of Two Hundred Thousand Dollars ($200,000).
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The Initial Loan. (a) On the Closing Date, and upon the terms and subject to the conditions set forth herein and in the other Transaction Documents to be executed and delivered by the parties hereto and thereto, the Lender hereby agrees to make the Initial Loan and the Company hereby agrees to issue to the Lender the Initial Note in the original principal amount of Nine Million Two Hundred and Ninety-Five Thousand Dollars ($9,295,000 and the Lender agrees to accept from the Company the Initial Note. (b) At the Closing, the Lender shall deliver to the Company, via wire transfer, of immediately available funds, an amount equal to $6,864,000, representing the Funding Amount under the Initial Note. (c) The Company and its Subsidiaries shall deliver to the Lender such Initial Note and other Transaction Documents to be delivered as of the Closing Date and the Lender shall deliver the other items set forth in Section 2.02 deliverable at the Closing. (d) Upon satisfaction of the conditions set forth in Sections 2.02 and 2.03, the Closing shall occur at the offices of the Lender’s counsel, or such other location as the parties shall mutually agree or may be closed remotely by electronic delivery of documents. 7
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The Initial Loan. Lender shall make the Initial Loan upon receipt of (i) the Note dated the date hereof executed by Databit, (ii) a Security Agreement, dated the date hereof, substantially in the form of Exhibit B attached hereto (the "Security Agreement") executed by Databit, and (iii) an executed guarantee substantially in the form of Exhibit C attached hereto (the "Guarantee"), executed by DSSI.
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The Initial Loan 
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Related to The Initial Loan

  • Initial Loan Notwithstanding any provision contained in this Agreement to the contrary, Lender shall have no obligation to make the initial Loan or issue the initial Letter of Credit under this Agreement unless Lender shall have first received: (a) this Agreement and the Note, each duly executed by Borrower; (b) the Guaranty, duly executed by Laclede Energy; (c) a copy of resolutions (including an incumbency certificate) of the Board of Directors of Borrower, duly adopted, which authorize the execution, delivery and performance of this Agreement, the Note and the other Transaction Documents, certified by the Secretary of Borrower; (d) a copy of resolutions of the Board of Directors (including an incumbency certificate) of Laclede Energy, duly adopted, which authorize the execution, delivery and performance of its Guaranty, certified by the Secretary of Laclede Energy; (e) copies of the Articles of Incorporation of Borrower and Laclede Energy, including any amendments thereto, certified by the Secretary of State of the states of their respective incorporations; (f) copies of the Bylaws of Borrower and Laclede Energy, including any amendments thereto, certified by the Secretaries of Borrower and Laclede Energy; (g) certificates of corporate good standing of Borrower and Laclede Energy issued by the Secretary of State of the states of their respective incorporations; (h) an opinion of the General Counsel of Borrower and Laclede Energy, in form and substance satisfactory to Lender and Lender’s counsel; (i) UCC search results from the Missouri Secretary of State for Borrower and Laclede Energy; (j) copies of all financial statements and other exhibits and schedules required by this Agreement and the other Transaction Documents; (k) a letter of direction from Borrower with respect to the disbursement of the proceeds of the initial Loan under this Agreement; (l) a fee letter, duly executed by Borrower and Lender; and (m) such other agreements, documents, instruments and certificates as Lender may reasonably request.

  • Initial Loans This Agreement shall not become effective nor shall the Lenders be required to make the initial Loans unless (i) since December 31, 2009, no event, development or circumstance shall have occurred that has had, or could reasonably be expected to have, a material adverse effect on the business, assets, operations or financial condition of Harley and its subsidiaries taken as a whole and (ii) the Borrowers shall have (a) paid all fees required to be paid in connection with the execution of this Agreement, (b) furnished to the Global Administrative Agent, with sufficient copies (other than in the case of any Notes) for each of the Lenders, such documents as the Global Administrative Agent or any Lender or its counsel may have reasonably requested, including, without limitation, all of the documents reflected on the List of Closing Documents attached as Exhibit D to this Agreement, (c) obtained all governmental and third party approvals necessary in connection with the financing contemplated hereby and the continuing operations of Harley and its Subsidiaries (including the Borrowers) and such approvals remain in full force and effect, (d) delivered to the Lenders (1) audited consolidated financial statements of Harley (on a Consolidated basis), (2) unaudited Consolidated financial statements of Harley (excluding HDFS and its Subsidiaries), (3) audited Consolidated financial statements of HDFS and its Subsidiaries (on a Consolidated basis), in the case of each of the foregoing clauses (1), (2) and (3), for the two most recent fiscal years ended prior to the Closing Date as to which such financial statements are available and (4) financial statement projections of (A) Harley (on a Consolidated basis), (B) Harley (excluding HDFS and its Subsidiaries) and (C) HDFS and its Subsidiaries, in the case of each of the foregoing clauses (A), (B) and (C), for the 2010 fiscal year, together with key underlying assumptions in reasonable detail and (e) delivered evidence reasonably satisfactory to the Global Administrative Agent of the payment of all principal, interest, fees and premiums, if any, on all Indebtedness under the Existing Credit Agreement, and the termination of the applicable agreements relating thereto, all taking effect concurrently with the effectiveness of this Agreement; provided that any Lender hereunder which is also a “Lender” under the Existing Credit Agreement hereby waives any requirement of five (5) Business Days notice by the “Borrowers” under the Existing Credit Agreement prior to the reduction of the commitments thereunder and the termination thereof.

  • SALE/PURCHASE OF INITIAL LOANS (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Initial Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from VL Funding and the VL Funding Eligible Lender Trustee for the benefit of VL Funding of the Initial ▇▇▇▇ of Sale and (ii) the payment by Funding to VL Funding of the Initial Payment. Upon consummation, such sale and purchase shall be effective as of the date of the Initial ▇▇▇▇ of Sale. VL Funding and Funding shall use their best efforts to perform promptly their respective obligations pursuant to the Initial Purchase Agreement with respect to each Initial Loan. (B) Settlement of the Initial Payment On the date of the Initial ▇▇▇▇ of Sale, Funding shall pay to VL Funding the Initial Payment by wire transfer of immediately available funds to the account specified by VL Funding. (C) Interest Subsidy and Special Allowance Payments and Rebate Fees VL Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Initial Loan accruing up to but not including the Initial Cutoff Date and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Interim Eligible Lender Trustee on behalf of Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff Date.

  • Conditions to Initial Loan At or prior to the making of the initial Loan hereunder to each Borrower, the following conditions precedent shall also have been satisfied: (a) the Lender shall have received the following (each to be properly executed and completed) and the same shall have been approved as to form and substance by the Lender: (i) this Agreement signed by such Borrower; (ii) a Note signed by such Borrower; (iii) copies (executed or certified, as may be appropriate) of all legal documents or proceedings taken in connection with the execution and delivery of this Agreement, such Borrower’s Note and the other Loan Documents by such Borrower; and (iv) an incumbency certificate containing the name, title and genuine signatures of such Borrower’s authorized representatives; (v) a copy of such Borrower’s Prospectus; (b) legal matters incident to the execution and delivery of this Agreement and the other Loan Documents by a Borrower and to the transactions contemplated hereby shall be satisfactory to the Lender and its counsel; and the Lender shall have received the favorable written opinion of counsel for such Borrower in the form attached hereto as Exhibit B in the case of a Domestic Borrower and in the form attached hereto as Exhibit C in the case of a Cayman Borrower; (c) the Lender shall have received a good standing certificate (or the equivalent in the case of each Cayman Borrower) for such Borrower (dated as of the date no earlier than 30 days prior to the date of this Agreement) from the offices of the secretary of state of the states of their respective organization or of the applicable office in the case of the Cayman Borrowers; and (d) the Lender shall be satisfied that the Loans and the use of proceeds thereof comply in all respect with Regulation U, and if required by Regulation U, the Lender shall have received a copy of FR Form U-1 duly executed and delivered by each Borrower.

  • Conditions to the Initial Loans No Lender shall be obligated to make any Loan or incur any Letter of Credit Obligations on the Closing Date, or to take, fulfill, or perform any other action hereunder, until the following conditions have been satisfied or provided for in a manner satisfactory to Agent, or waived in writing by Agent and Lenders: