Agreement to Borrow and Lend. Subject to all of the terms, provisions and conditions set forth in this Agreement, Lender agrees to make and Borrower agrees to accept the Loan. Borrower agrees to pay all indebtedness evidenced and secured by the Loan Documents in accordance with the terms thereof.
Agreement to Borrow and Lend. The Bank agrees to provide the Facility to the Borrower on the basis of and in full reliance of the warranties, representations and undertakings contained in Section 13 of Part B and subject to the terms and conditions of the Letter of Offer and this Agreement.
Agreement to Borrow and Lend. Borrower agrees to borrow from Lender, and Lender agrees to lend to Borrower an amount not to exceed the Loan Amount on the terms of and subject to the conditions of this Agreement.
Agreement to Borrow and Lend. Borrower agrees to borrow from Lender, and Lender agrees to lend to Borrower, an amount not to exceed the Loan Amount, on the terms of and subject to the conditions of this Agreement. The Loan is not a revolving facility, and Borrower shall not have the right to re-borrow any portion of the principal balance of the Loan repaid by Borrower.
Agreement to Borrow and Lend. Subject to the terms, provisions and conditions hereof and in reliance on the representations and warranties set forth herein, Lender agrees to lend to Borrower the Commitment.
Agreement to Borrow and Lend. Subject to the terms, provisions and conditions of this Agreement and the other Loan Documents, Borrower agrees to borrow from Lender agrees to lend to Borrower the Loan, for the purposes and subject to all of the terms, provisions and conditions contained in this Agreement. If Lender consists of more than one party, the obligations of each such party with respect to the amount it has agreed to loan to Borrower shall be several (and not joint and several) and shall be limited to its proportionate share of the Loan and of each advance.
(a) The maximum aggregate amount of the Loan shall not exceed the lesser of (i) Nine Million, Two Hundred Fifty Thousand and No/100 Dollars ($9,250,000.00), or (ii) 75% of the fair market value of the Property, as set out in the Appraisal of the Property approved by Lender hereunder.
(b) Subject to Borrower’s compliance with and satisfaction of all conditions precedent to the Loan Closing and all conditions to disbursement under Article 8 and Article 10, provided that the Loan is In Balance, no Material Adverse Change has occurred with respect to Borrower, any Guarantor, or the Property and no Default or Event of Default has occurred and is continuing hereunder, at the Loan Closing, Lender will reimburse Borrower for a portion of the costs incurred by Borrower in connection with the development of the Property and the construction of the Improvements, to the extent provided for in the Budget.
(c) After the Loan Closing, Borrower shall be entitled to receive further successive disbursements of the proceeds of the Loan in accordance with Article 10 within ten (10) Business Days after compliance with all conditions precedent thereto, provided that (i) the Loan remains In Balance; (ii) Borrower has complied with all conditions precedent to disbursement from time to time including the requirements of Articles 8, 9 and 10; (iii) no Material Adverse Change has occurred with respect to Borrower, any Guarantor, or the Property and (iv) no Event of Default and no Default exists hereunder or under any other Loan Document and there is no material default by Borrower.
(d) To the extent that Lender may have acquiesced in noncompliance with any conditions precedent to the Loan Closing or conditions precedent to any subsequent disbursement of Loan proceeds, such acquiescence shall not constitute a waiver by Lender, and Lender may at any time after such acquiescence require Borrower to comply with all such requirements.
(e) Borrower shall, pr...
Agreement to Borrow and Lend. Subject to all of the terms, provisions, conditions, covenants and agreements contained in this Agreement, Lender agrees to make available to Borrower a Loan in the maximum principal amount of up to $1,500,000.00 ("Maximum Loan Amount"). The Loan may be drawn in amounts of not less than $250,000.00 as and when required by Borrower.
Agreement to Borrow and Lend. Borrower agrees to borrow from Bank, and Bank agrees to lend to Borrower, an amount not to exceed the amount of the Loans on the terms of and subject to the conditions of this Agreement. However, the amount of advances under Loan No. 2 shall be limited to the lesser of: (i) Ten Million Dollars ($10,000,000.00) and (ii) an amount equal to the sum of (a) one hundred percent (100%) of available cash on hand and (b) eighty percent (80%) of Eligible Consumer Loans. The term “Eligible Consumer Loans” shall mean those outstanding consumer loans made by Borrower which are not then, and have not previously been, in default. Borrower shall provide Bank with a borrowing base certificate in a form acceptable to Bank on a semi-annual basis (which certificate is subject to verification by an outside auditor twice a year if requested by Bank). Such verification shall be in accordance with GAAP, and shall meet Financial Accounting Standards deemed relevant by Bank and such outside auditing firm.
Agreement to Borrow and Lend. Xxxxxxxx agrees to borrow from Xxxxxx, and Xxxxxx agrees to lend to Borrower such amount as shall be requested by Xxxxxxxx, but in no event exceeding the stated Loan Amount, on the terms and subject to the conditions of this Agreement. The Loan shall be evidenced by the Note.
Agreement to Borrow and Lend. Subject to all of the terms, provisions, conditions, covenants and agreements contained in this Agreement and in reliance upon the representations and warranties set forth herein, Borrower hereby agrees to borrow from Lender, and Lender agrees to lend to Borrower, the Loan. The Loan shall be repaid by the Borrower in full on the Maturity Date. The Loan is to be used for the repayment in full by the Borrower of the outstanding construction loan encumbering the Project, the repayment of a portion of the equity investment in Borrower by its partners and the payment of certain other third-party expenses of Borrower as set forth herein.
