Buyer Loan Sample Clauses

Buyer Loan. 31 SECTION 4.24
Sample 1
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Buyer Loan. On or prior to October 1, 1997, Buyer shall make a loan (the "Buyer Loan") to KKI in the principal amount of up to Two Million Dollars ($2,000,000) by delivery of immediately available funds to KKI in such amount, against receipt by Buyer of an executed copy of KKI's promissory note in the form of Exhibit 4.23
Sample 1
Buyer Loan. Buyer agrees to loan to Company on the Closing Date the sum of (i) $176,361.11 plus (ii) the amount necessary to provide Company with available cash as of the Closing Date of $50,000. The loan described in this Section 2.1(d) is referred to herein as the "Buyer Loan." The proceeds of the Buyer Loan shall be used by Company solely to pay off in full at the Closing Company's obligations under its revolving line of credit loan and variable rate single pay 3 8 loan with Biltmore Investors Bank, N.A. and to provide Company with available cash immediately following Closing of $50,000. The Buyer Loan shall be repaid in full by Company to Buyer during the Contingent Payment Period. To the extent it is repaid after such time, the unpaid principal balance as of the end of the Contingent Payment Period shall be charged in full against EBIT for the Contingent Payment Period.
Sample 1
Buyer Loan. On or about the date hereof, the Buyer shall loan to the Seller the sum of $150,000 in cash (the "Buyer Loan"). Such loan shall be evidenced by a promissory note and secured loan agreement, in form and substance acceptable to the parties, which shall provide for (i) payment of the loan at the Closing (or, if applicable, at the Option Closing), (ii) payment on demand at any time from and after April 30, 1997, and (iii) interest (due at maturity, but not before) at the rate of 12% per annum (simple interest). The Buyer Loan shall be secured by a security interest in all of the Newtown Store Assets (including inventory or accounts receivable), which shall have priority over any other liens on such assets, except for the liens specifically identified on Schedule 1.10.
Sample 1
Buyer Loan. The Buyer shall have loaned to the Company immediately prior to the Closing an amount equal to $1,278,559.40 and the Company shall have executed and delivered to the Buyer a Promissory Note, substantially in the form of Exhibit F attached hereto.
Sample 1
Buyer Loan. Prior to or upon the Closing the Buyer shall have loaned to the Company an aggregate of Seven Hundred Fifty Thousand Dollars ($750,000) (“Buyer Loan”) via the delivery by the Company to the Buyer of three promissory notes, all of which shall be in forms reasonably acceptable to the Buyer and the Company, one of which shall be in the amount of (i) One Hundred Fifty Thousand Dollars ($150,000) and shall be delivered on the Effective Date (the “First Promissory Note”); (ii) Three Hundred Thousand Dollars and shall be delivered within ten (10) business days of the Effective Date (the “Second Promissory Note”); (iii) Three Hundred Thousand Dollars and shall be delivered at the Closing (“Final Promissory Note”).
Sample 1
Buyer Loan. Buyer agrees to loan Company on the Closing Date the sum of $151,670.31 (including the aggregate amount paid by Buyer to Crestar Bank pursuant to Section 7.2.(e) below), and thereafter prior to the end of the Contingent Payment Period such additional amounts as may be reasonably necessary to provide working capital for Company during the Contingent Payment Period. The loan(s) described in this Section 2.1.(d) are referred to herein collectively as the "Buyer Loan." The proceeds of the Buyer Loan (other than the aggregate amount paid by Buyer to Crestar Bank pursuant to Section 7.2.(e) below) shall be used solely as working capital for Company during the Contingent Payment Period. The Buyer Loan shall be repaid in full by Company to Buyer during the Contingent Payment Period. To the extent that it is repaid after such time, the unpaid principal balance as of the end of the Contingent Payment Period shall be charged in full against the MidAtlantic Business' EBIT for the Contingent Payment Period.
Sample 1
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Buyer Loan. The Buyer shall, upon execution hereof, forthwith advance to Continental $4,000,000.00 (U.S.) pursuant to the credit agreement between the Buyer, as lender, and Continental, as borrower, in substantially the form of Exhibit B attached hereto (the "CREDIT AGREEMENT"), to be secured with a security interest in certain of the assets of Continental pursuant to the security agreement to be granted by Continental pursuant to the Credit Agreement in substantially the form annexed hereto as Exhibit C (the "SECURITY AGREEMENT"), subject to a priority agreement with Royal Bank of Canada, if necessary, with the funds advanced pursuant to the Credit Agreement to be used solely to assist with the equipping of a marine seismic vessel described as the "Pacific Titan".
Sample 1
Buyer Loan. Buyer agrees to loan Company on the Closing Date the sum of $68,906.21 (including the aggregate amount paid by Buyer to Metro Commerce Bank), and thereafter prior to the end of the Contingent Payment Period such additional amounts as may be reasonably necessary to provide working capital for Company during the Contingent Payment Period. The loan(s) described in this Section 2.1(d) are referred to herein collectively as the "Buyer Loan." The proceeds of the Buyer Loan (other than the aggregate amount paid by Buyer to Metro Commerce Bank) shall be used solely as working capital for Company during the Contingent Payment Period. The Buyer Loan shall be repaid in full by Company to Buyer during the Contingent Payment Period. To the extent that it is repaid after such time, the unpaid principal balance in excess of $50,000 as of the end of the Contingent Payment Period shall be charged in full against the Company Business' Pre-Tax Earnings for the Contingent Payment Period.
Sample 1

Related to Buyer Loan

  • Existing Loan Seller represents and warrants that the Existing Loan is the only indebtedness secured by the Property and that the information contained on Exhibit H is true, correct and complete. Neither Seller nor any guarantor is in default or breach of any provisions of the documents evidencing the Existing Loan and no event or circumstance has occurred or exists which but for the passage of time would be a default under the Existing Loan. At Closing, Buyer shall assume the Existing Loan and Buyer shall pay all administrative fees, assumption fees and underwriting costs, if any, charged by the Existing Lender in connection with said assumption. Seller shall cooperate with Buyer in Buyer’s efforts related to the assumption of the Existing Loan including executing such applications, certificates and other documents required by the Lender and providing any information required by the Lender in connection with the assumption of the Existing Loan. Seller shall be responsible for the costs of its attorneys, and Buyer shall be responsible for the costs of its attorneys. In addition, Buyer shall be responsible for the cost, if any, of Existing Lender’s attorneys, related to the assumption of the Existing Loan.

  • Buyer Financing The obligation of Buyer to close the transaction contemplated by this Agreement is contingent upon the closing of a mortgage loan secured by the Property from Buyer's lender of choice on terms satisfactory to Buyer in Buyer's sole and absolute discretion (the "Buyer Financing"). Without limiting the foregoing, so long as this Agreement remains in effect, Buyer, at its expense, shall use commercially reasonable efforts to obtain a commitment for the Buyer Financing and to satisfy the closing conditions of the Buyer Financing applicable to Buyer. Buyer shall be responsible for any costs, fees or expenses arising out of the Buyer Financing. Buyer may terminate this Agreement at any time prior to the Closing Date due to the actual or anticipated failure to close the Buyer Financing by delivering written notice thereof to Seller, in which case this Agreement will terminate and the parties will have no further obligations hereunder (except for obligations that are expressly intended to survive termination of this Agreement).

  • PPP Loan On or about January 24, 2022, the PPP Loan was forgiven in full by the PPP Lender and the U.S. Small Business Administration in accordance with the terms of the PPP Loan, CARES Act, and all other applicable Laws.

  • Purchaser Financing Purchaser assumes full responsibility to obtain the funds required for settlement, and Purchaser’s acquisition of such funds shall not be a contingency to the Closing.

  • Seller’s Closing Conditions The obligations of Seller under this Agreement are subject, at the option of Seller, to the satisfaction, at or prior to the Closing, of the following conditions:

  • Seller’s Closing Obligations At Closing, Seller shall deliver to Buyer the following:

  • Purchaser’s Closing Conditions The Purchaser’s obligations to close the transactions described in this Agreement are subject to the satisfaction at or prior to Closing of the following conditions precedent (the “Purchaser’s Closing Conditions”):

  • Initial Loan The obligation of the Lender to make its initial Loan hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Loan, of the condition precedent that the Lender shall have received all of the following items, each of which shall be satisfactory to the Lender and its counsel in form and substance:

  • Buyer's Closing Obligations At the Closing, Buyer shall:

  • Pre-Closing Collections Within two (2) Business Days after the Closing Date the Seller shall transfer to the account or accounts designated by Ally Auto (or by the Issuing Entity under the Further Transfer Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to Ally Auto pursuant to Section 2.01.

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