Availability of Second Advances Clause Samples

Availability of Second Advances. The Borrower may borrow up to the Second Commitment by way of six (6) separate loan advances (each a “Second Advance”). The first Second Advance has already been made and is evidenced by the first Second Existing Note. The second Second Advance may be borrowed by the Borrower on the Second Closing Date in the amount of $325,000 and thereafter the Borrower may borrow further Second Advances in the principal amounts of up to (6) $150,000 on any date mutually agreeable to the Borrower and the Lender or November 30, 2014, if no date is selected and (7) $250,000 on each of December 31, 2014, March 31, 2015 and June 30, 2015 (each a “Second Advance Date”).