Commercial Financing Sample Clauses

Commercial Financing. In case the BUYER intends to avail himself and/or obtain financing for the purchase of the HOUSE AND LOT and the payment of the Purchase Price, or any part thereof, from a bank or financing institution acceptable to the SELLER, the BUYER shall be solely responsible for filing the requisite loan application prescribed by the bank or financing institution, together with all the necessary supporting requirements/documents for the processing of said loan application to ensure that the release of the loan proceeds to be used to finance the purchase of the HOUSE AND LOT and the payment of the Purchase Price, or any part thereof, is made in a timely manner so as to enable BUYER to pay such amounts required by the SELLER within the due dates specified in this CONTRACT. The BUYER shall comply with all the requirements of the lending bank or financing institution and expedite the release of the loan before any of the dates for payment of the Purchase Price, or any part thereof, which shall be financed from the loan, shall fall due. It is understood that any delay in the payment of any amount forming part of the Purchase Price as such amount falls due, resulting from any delay in the processing of the loan application of the BUYER, shall give rise to the right of the SELLER as specified in Section 10.1.1 hereof. In the event, however, that the SELLER does not exercise its rights to cancel this CONTRACT pursuant thereto, without prejudice, however, to the exercise of such right at any time, this CONTRACT shall continue to be in effect subject to the condition that the BUYER shall pay the penalty prescribed in Section 4.1 on the unpaid amount from the date of default up to the date of payment or the date of cancellation of this CONTRACT, whichever is earlier. In the event the loan application of the BUYER is approved by the bank or financing institution, the BUYER hereby authorizes the lending bank or financing institution to release directly to the SELLER whatever amount may be available from the approved loan of the BUYER to pay the Purchase Price, or any part thereof, as such amount becomes due. In the event the loan application of the BUYER is disapproved by the bank or financing institution, the balance of the Purchase Price which was intended by the BUYER to be financed from the proceeds of the loan shall be fully paid by the BUYER within twenty (20) calendar days from the BUYER’s receipt of a formal notice from the bank or financing institution of such disapprov...

Commercial Financing a. Review and comment upon the Corporation's annual and quarterly financial statements and reports and other financial disclosures and publications. b. Develop, in conjunction with the Corporation's financial personnel and advisers, periodic projections of its cash needs commensurate with its projected growth in operations and revenues. c. Attempt to arrange for commercial financing to meet the Corporation's projected cash needs by way of accounts receivable financing and/or factoring, purchase order financing, equipment financing, equipment lease financing (closed-end option), sale and leaseback transactions, institutional commercial financing (business finance plans, bank letters of credit [standby], lines of credit, and other institutional financial accommodation), governmental financing (US Small Business Administration, State Economic Authorities, etc.).

Commercial Financing. Immediately upon execution of this Agreement, the Purchaser will assist the Company in pursuing financing in the form of a $2,000,000 revolving line of credit from a commercial lender, including without limitation a bank or other institutional lender deemed acceptable by the Company (a “Lender”), on terms and conditions no less favorable to the Company than as set forth in Section 1.2 herein. In addition to the terms and conditions set forth in Section 1.2, Purchaser hereby agrees to personally guaranty the line of credit obtained under this Section 1.1(a).