Conditions for Advance Sample Clauses

Conditions for Advance. The following conditions, assurances and agreements are made by ESA and acknowledged by DMF, as the Seller under the DMF Agreement, and ▇▇▇▇▇, as the Consultant under the ESA Agreement: a. The ESA Parties agree that all of the distributions set forth on Schedule A shall count toward the Cash Payment under the DMF Agreement and the fees under the ESA Agreement, not to exceed the Total Up Front Cost, for the delivery of Qualified NIBs related to $400,000,000.00 of face amount of life insurance policies. b. The ESA Parties confirm that the Proposed Sale does not and will not interfere with the obligations of any of the ESA Parties under the DMF Agreement or the ESA Agreement and that the ESA Parties, including ▇▇▇▇▇, as the consultant under the ESA Agreement, are fully committed to the creation of Qualified NIBs related to $400,000,000.00 of face amount of life insurance policies for SSI on an exclusive basis. ▇▇▇▇▇ confirms that he is the consultant performing the services under the ESA Agreement and is covered by the exclusivity provisions thereof, and he will use his best commercial efforts to assist DMF in its delivery of the Qualified NIBs. c. The payment of the Advance shall be credited against the Total Up Front Cost and shall not cause the total of the Cash Payment and the fees under the ESA Agreement to exceed $12,000,000.00 for the delivery of Qualified NIBs related to $400,000,000.00 of face amount of life insurance policies, and to the extent that it does, for any reason whatsoever, such excess amount shall become a liability of DMF, due on demand. d. In order to qualify the NIBs related to assets currently held by SSI as Qualified NIBs, DMF shall (i) provide letters from the senior lender stating that any four year loans will be converted into five year loans, without any additional fees, except for the increase in the origination fees based on the new loan term, as soon as such conversions are allowed without violating large exposure directive restrictions of the senior lender, (ii) adjust the Note to achieve a projected internal rate of return for the related NIBs to at least 23% per financed portfolio, and alter the Note to be nonrecourse, secured only by assets described in the Pledge Agreement, and change the maturity date for the Note to be paid as follows: 50% of Realized Death Benefits (defined below) shall be distributed to DMF and 50% of Realized Death Benefit shall be distributed to SSI until the Note is paid in full, and (iii) take wh...

Conditions for Advance. The following conditions, assurances and agreements are made by ▇▇▇▇▇, individually and as the Consultant under the ESA Agreement: ▇. ▇▇▇▇▇ agrees that all of the distributions set forth on Schedule A shall count toward the Cash Payment under the DMF Agreement and the fees under the ESA Agreement, not to exceed the Total Up Front Cost, for the delivery of Qualified NIBs related to $400,000,000.00 of face amount of life insurance policies. ▇. ▇▇▇▇▇ confirms that the Proposed Sale does not and will not interfere with the obligations of any of ESA, ▇▇▇▇▇ or DMF. ▇▇▇▇▇ confirms that he is the consultant performing the services under the ESA Agreement and is covered by the exclusivity provisions thereof, and he will use his best commercial efforts to assist ESA and DMF in its delivery of the Qualified NIBs, whether he is acting in his individual capacity or in his capacity as the consultant to ESA. c. The payment of the Advance and additional consideration shall be credited against the Total Up Front Cost and shall not cause the total of the Cash Payment and the fees under the ESA Agreement to exceed $12,000,000.00 for the delivery of Qualified NIBs related to $400,000,000.00 of face amount of life insurance policies, and to the extent that it does, for any reason whatsoever, such excess amount shall become a liability of DMF, due on demand.

Conditions for Advance. In addition to all other terms and conditions set forth in the Note and the Related Documents, ▇▇▇▇▇▇'s obligation to make the initial advance under the Note shall be subject to the fulfillment to Lender's satisfaction of Borrower assigning to Lender the promissory note from U-Swirl, Inc., on documentation acceptable to Lender. INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under this Note is computed using this method.

Conditions for Advance. It there is no default under this Note, Borrower shall be entitled to make draws under this Note (subject to the limitations described above) under the following conditions: ADVANCES MAY BE MADE BY PHONE OR IN PERSON. CONTACT EITHER LOAN OPERATIONS OR YOUR OFFICER'S LOAN ASSISTANT.

Conditions for Advance. In addition to all other terms and conditions set forth in the Note and the Related Documents, ▇▇▇▇▇▇'s obligation to make the initial advance under the Note shall be subject to the fulfillment to Lender's satisfaction of Borrower assigning to Lender the promissory note from U-Swirl, Inc., on documentation acceptable to Lender.

Conditions for Advance