Additional Loan Advances. The sale by the Seller of any Portfolio Assets to the Purchaser shall not include any obligation to pay any Additional Loan Advance (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Portfolio Assets to the Purchaser, remain an obligation of the Seller and the Seller shall have the right to fund, or cause the Originator to fund such Additional Loan Advances. The purchase price to be paid by the Guarantor for all Additional Loan Advances in the Covered Bond Portfolio will be Fair Market Value and funded in accordance with the terms of the Intercompany Loan Agreement and the Guarantor Agreement. Each Additional Loan Advance (if any) will be sold and transferred to the Guarantor at the time such Additional Loan Advance is originated and disbursed to the Borrower, and upon transfer to the Guarantor (together with its applicable Related Security) shall be deemed to form part of the applicable Loan and Related Security. To the extent that an Additional Loan Advance is sold to the Guarantor, the amount of the Intercompany Loan will increase by the amount of the funded Additional Loan Advance which satisfies the Deemed Advance Preconditions pursuant to the terms of the Intercompany Loan Agreement and any remaining amount which does not satisfy the Deemed Advance Preconditions shall be deemed to constitute a Capital Contribution by the Seller and the Seller’s interest, as a limited partner in the Guarantor, shall be increased by such amount pursuant to the terms of the Guarantor Agreement. For greater certainty, it is hereby confirmed that all present and future Additional Loan Advances sold to the Guarantor pursuant to the terms hereof will have the benefit of the applicable Related Security and upon sale by the Seller to the Guarantor of any such Additional Loan Advance (together with its applicable Related Security) the Seller shall have no interest therein.
Additional Loan Advances. The sale by the Seller of any Loans and their Related Security to the Purchaser shall not include any obligation to pay any Additional Loan Advances (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Loans and their Related Security to the Purchaser, remain, as between the Seller and the Purchaser, an obligation of the Seller and the Seller shall cause such Additional Loan Advances to be funded by the relevant Originator. The purchase price for all Additional Loan Advances to be purchased by the Purchaser from the Seller shall be funded in accordance with the terms of the Intercompany Loan Agreement and, upon such funding, shall be deemed to be sold, assigned and transferred from the Seller to the Purchaser free and clear of any Adverse Claim created by the Seller, and the Seller shall have no interest therein. Each Additional Loan Advance shall be deemed to form part of the applicable Loan and Related Security and have the benefit thereof.
Additional Loan Advances. Notwithstanding anything to the contrary contained in the Loan Agreement, the parties hereto agree that Borrower shall have the right to request and has requested that the Additional Loan Advances provided for in this Supplement be disbursed on March 20, 2014 (the “Borrowing Date”). Subject to Section 2 above, each Increasing Lender severally and not jointly agrees to make its portion of the Additional Loan Advances provided for in this Supplement to the Borrower on the Borrowing Date, in a principal amount equal to such Increasing Lender’s Increased Commitment Amount, in accordance with Section 2.16(c) of the Loan Agreement.
Additional Loan Advances. The sale by the Seller of any Loans and their Related Security to the Purchaser shall not include any obligation to pay any Additional Loan Advances (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Loans and their Related Security to the Purchaser, remain an obligation of the relevant Seller and the Seller shall have the right to fund such Additional Loan Advances. All Additional Loan Advances in respect of the Loans and their Related Security in the Covered Bond Portfolio will be funded in accordance with the terms of the Intercompany Loan Agreement and the Guarantor Agreement, and each Additional Loan Advance shall be deemed to form part of the applicable Loan and Related Security and have the benefit thereof.
Additional Loan Advances. The Borrower and the Lender acknowledge and agree that further loan advances by other Lenders to the Borrower are contemplated and that such further advances will also be covered under the security of this General Security Agreement, such further advances to rank pari passu with the existing loan advance up to a maximum amount of indebtedness of $2,000,000.00 U.S. in total advances from all Lenders.
Additional Loan Advances. The sale by the Seller of any Loans and their Related Security to the Purchaser shall not include any obligation to pay any Additional Loan Advance (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Loans and their Related Security to the Purchaser, remain an obligation of the relevant Seller and the Seller shall have the right to fund such Additional Loan Advances. All Additional Loan Advances in the Covered Bond Portfolio will be funded in accordance with the terms of the Intercompany Loan Agreement and the Guarantor Agreement and upon transfer to the Guarantor (together with its applicable Related Security) shall be deemed to form part of the applicable Loan and Related Security. For greater certainty, it is hereby confirmed that all present and future Additional Loan Advances sold to the Guarantor pursuant to the terms hereof will have the benefit of the applicable Related Security and upon sale by the Seller to the Guarantor of any such Additional Loan Advance (together with its applicable Related Security) the Seller shall have no interest therein.
Additional Loan Advances. The Borrower and the Lender acknowledge and agree that further loan advances upon the terms pertaining to the Priority Financing set out above by another Lender or Lenders to the Debtor are contemplated and that such further advances will rank ahead of the security interests represented by this general security agreement provided that such advances are equal to at least fifty per cent (50%) of the amount payable under the promissory note referenced as the debt.
Additional Loan Advances. The sale by the Seller of any Loans and their Related Security to the Purchaser shall not include any obligation on the part of the Purchaser to pay any Additional Loan Advance (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Loans and their Related Security to the Purchaser, remain an obligation of the relevant Seller. All such Additional Loan Advances in respect of the Loans and their Related Security in the Covered Bond Portfolio will be immediately and automatically sold and transferred by the Seller to the Purchaser at the time such Additional Loan Advance is originated and disbursed to the Borrower, and shall be deemed to form part of the applicable Loan and Related Security owned by the Purchaser and the Seller shall have no property or security interest therein. All such Additional Loan Advances .will be funded in accordance with the terms of the Intercompany Loan and the Guarantor Agreement as a Revolving Advance under the Intercompany Loan Agreement if the Deemed Advance Preconditions are met or as a Cash Capital Contribution under the Guarantor Agreement if the Deemed Advance Preconditions are not met.”
(2) The Mortgage Sale Agreement shall be amended by deleting Section 3.2(c) thereof in its entirety and replacing it with the following paragraph:
Additional Loan Advances. Neither Agent nor any Lender shall be obligated to advance any additional Loans pursuant to Section 2.1 of this Agreement or otherwise unless the following conditions precedent are satisfied in full (as determined by Agent in its reasonable discretion which reasonable discretion shall be exercised in good faith having due regard for the advice of Agent’s Consultants) as of the date of the making of such Loan, unless specifically waived in writing by Agent.
Additional Loan Advances
