Conditions of Each Loan Sample Clauses

Conditions of Each Loan. Lender shall not be required to make any Loan hereunder (including the initial Loan) unless on the Closing Date of such Loan:
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Conditions of Each Loan. The obligation of the Bank to make the initial Loan and to make each Loan subsequent thereto shall be subject to the fulfillment (to the satisfaction of the Bank) of the following conditions precedent:
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Conditions of Each Loan. (a) The obligation of Xxxxx Xxxxxx to make each loan under this Note is subject to the following conditions precedent:
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Conditions of Each Loan. The obligation of the Lender to make any Loan (including the initial Loan) hereunder is subject to satisfaction of the following conditions precedent:
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Conditions of Each Loan. (i) consent of the Company's lender, if required, including an agreement to subordinate with respect to liens described in paragraph 3 below, and (ii) delivery of customary documentation in form and substance reasonably satisfactory to Parent and the Company. 3. Form of and Collateral for Each Loan: Loans shall be provided by Parent from time to time as required with respect to the development by the Company of specific proposed Champps restaurants ("Approved Projects"), so long as the site and plans for such proposed new restaurant (including without limitation the terms of any lease) are approved by Parent, which approval shall not be unreasonably withheld. Parent shall provide such loans with respect to any Approved Project in such amount and in form as is reasonably acceptable to Parent giving due regard to the circumstances affecting the development of such restaurant, it being understood that such form is presently contemplated to be a mortgage loan secured by a first priority lien on and collateral assignment of all real estate leases (or owned real estate, if any) with respect to each Approved Project, a security interest in all furniture, fixtures and equipment at such Approved Project (which may be junior to any purchase money lien to the extent such property is financed through loans from third parties), collateral assignments of all licenses, permits and approvals and a license upon reasonably acceptable terms and conditions with respect to the "Champps" trademark and trade dress effective in the event of foreclosure. The subsidiaries of the Company will guarantee all obligations of the Company to Parent.
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Related to Conditions of Each Loan

  • Conditions to Each Loan The agreement of each Lender to make any Loan requested to be made by it on any date (including, without limitation, its initial Loan) is subject to the satisfaction of the following conditions precedent:

  • CONDITIONS OF EACH EXTENSION OF CREDIT The obligation of Bank to make each extension of credit requested by Borrower hereunder shall be subject to the fulfillment to Bank's satisfaction of each of the following conditions:

  • Conditions to Each Advance The agreement of Lenders to make any Advance requested to be made on any date (including the initial Advance), is subject to the satisfaction of the following conditions precedent as of the date such Advance is made:

  • Conditions to Obligations of Each Party The respective obligations of each Party to perform this Agreement and consummate the Merger and the other transactions contemplated hereby are subject to the satisfaction of the following conditions, unless waived by both Parties pursuant to Section 10.6:

  • Conditions of Loan Each loan to a Member under the Plan shall be repaid in level monthly amounts through regular payroll deductions after the effective date of the loan, and continuing thereafter with each payroll. Except as otherwise required by the Code and the IRS Regulations, each loan shall have a repayment period of not less than 12 months and not in excess of 60 months, unless the purpose of the loan is for the purchase of a primary residence, in which case the loan may be for not more than 180 months. After the first 3 monthly payments of the loan have been satisfied, the Member may pay the outstanding loan balance (including accrued interest from the due date). The rate of interest for the term of the loan will be established as of the loan date, and will be the Xxxxxx’x Prime Rate (base rate) plus 1% as published on the last Saturday of the preceding month, or such other rate as may be required by applicable law and determined by reference to the prevailing interest rate charged by commercial lenders under similar circumstances. The applicable rate would then be in effect through the last business day of the month. Repayment of all loans under the Plan shall be secured by 50% of the Member’s vested interest in his Account, determined as of the origination of such loan.

  • Conditions Precedent to Obligations of Each Party The obligations of each Party to effect the Merger and otherwise consummate the Contemplated Transactions to be consummated at the Closing are subject to the satisfaction or, to the extent permitted by applicable Law, the written waiver by each of the Parties, at or prior to the Closing, of each of the following conditions:

  • Conditions to the Obligations of Each Party The obligations of the Company, Parent and Merger Subsidiary to consummate the Merger are subject to the satisfaction of the following conditions:

  • Conditions Precedent to Each Loan The obligation of the Lenders to make each Loan, including the initial Revolving Loans on the Closing Date, and the obligation of the Agent to cause the Letter of Credit Issuer to issue any Letter of Credit shall be subject to the further conditions precedent that on and as of the date of any such extension of credit:

  • CONDITIONS OF BORROWING Notwithstanding any other provision of this Agreement, the Bank shall not be required to disburse, make or continue all or any portion of the Loans, if any of the following conditions shall have occurred.

  • CONDITIONS PRECEDENT TO EACH ADVANCE Lender’s obligation to make the initial Advance and each subsequent Advance under this Agreement shall be subject to the fulfillment to Lender’s satisfaction of all of the conditions set forth in this Agreement and in the Related Documents.

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