Convertible Loan. 2.1 Subject to the terms and conditions of this Agreement, the Lender shall lend to the Borrower, the Convertible Loan.
Convertible Loan. (a) The Investor hereby agrees to lend to Kaixin US$1,000,000 (One Million United States Dollars) (the “Convertible Loan”) on the Closing Date and on the Closing Date will transfer such amount to the following bank account of Kaixin (the “Bank Account”): Beneficiary Name: Kaixin Auto Group Beneficiary Account number: 8003098327 Bank Routing Number (domestic wires): 300000000 Bank Swift Code (international wires): EXXXXX00XXX Bank Name: East West Bank Bank Address: 100 X. Xxx Xxxxxx Xxx, Suite 600, Pasadena, CA 91101 Kaixin shall issue to the Investor a signed acknowledgment of receipt of the Convertible Loan within five (5) Business Days of the Closing Date.
Convertible Loan. (a) The Investor hereby agrees to lend to Kaixin the Aggregate Principal Amount (the “Convertible Loan”) and on the applicable Closing Date will transfer the First Principal Amount and the Second Principal Amount, as applicable, to the following bank account of Kaixin (the “Bank Account”): Beneficiary Name: Kaixin Auto Group Beneficiary Account number: 8003098327 Bank Routing Number (domestic wires): 300000000 Bank Swift Code (international wires): EXXXXX00XXX Bank Name: East West Bank Bank Address: 100 X. Xxx Xxxxxx Xxx, Suite 600, Pasadena, CA 91101 Kaixin shall issue to the Investor a signed acknowledgment of receipt of the relevant amount within five (5) Business Days of the applicable Closing Date.
Convertible Loan. 1.1 Each of the Investors agrees to lend to the Company the amount set forth opposite its name in Exhibit A hereto (the “Investment Amount”), for an aggregate amount of $1,250,000 hereunder (the “Loan”), subject to the terms and conditions of this Agreement.
Convertible Loan. Aspis will deliver to the Company by wire transfer the Funding Amount as follows: (a) on or before October 9, 2024 (the date of the wire, the “Initial Funding Date”), Five Hundred Thousand U.S. Dollars (US$500,000.00) (the “Initial Funding Amount”), and (b) on or before November 15, 2024 (the “Second Funding Date”), the balance of Two Million U.S. Dollars (US$2,000,000.00) (the “Second Funding Amount”).
Convertible Loan. (a) Genesis shall, upon the terms of the convertible promissory note attached as Exhibit D (the "Promissory Note"), and subject to the execution of the Promissory Note by SVI simultaneously with the execution of this Agreement, upon the Effective Date make a loan to SVI of $2,000,000, which shall be paid as directed by SVI, net of any out-of-pocket transfer costs or fees, in U.S. Dollars. SVI agrees, upon the terms and conditions contained in this Agreement, upon the Effective Date, to borrow from Genesis $2,000,000 and to execute and deliver to Genesis the Promissory Note.
Convertible Loan. (a) Loan Term, Interest, Repayment
Convertible Loan. (a) Prior to the Second Amendment Effective Date, (i) Lender made a “Term Loan” to Borrower pursuant to and as defined in this Agreement (as existing prior to the Second Amendment Effective Date), which Term Loan remains outstanding on the Second Amendment Effective Date in the aggregate amount of $3,072,631.00, consisting of $3,036,667.02 in principal (including interest paid-in-kind), $35,963.98 in accrued and unpaid interest and fees; (ii) Lender made an “Initial Convertible Loan” and a “First Amendment Convertible Loan” each to Borrower pursuant to and as defined in this Agreement (as existing prior to the Second Amendment Effective Date), each of which remain outstanding on the Second Amendment Effective Date collectively in the aggregate amount of $7,464,621.22, consisting of $6,883,213.50 in principal (including interest paid-in-kind), $581,407.72 in accrued and unpaid interest, fees and expenses; and (b) as of the Effective Date, Borrower is obligated to Lender with regard to fee, expenses and reimbursement obligations under the terms of the Loan Documents in the amount of $221,522.52 (“Specified Obligations”). On the Second Amendment Effective Date, without further action, the Term Loan, the Initial Convertible Loan, the First Amendment Convertible Loan, and the Specified Obligations shall be consolidated into a single convertible loan in the amount of $10,758,774.75 (the “Consolidated Convertible Loan”).
Convertible Loan. (a) Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, on the Closing Date, Xxxxxx agrees to make to Borrower, in Dollars, a convertible loan (the “Convertible Loan”) in a principal amount of $1,500,000, as the same may be increased from time to time in accordance with Section 2.6. 1 Assumes 2-19-2021 closing.
Convertible Loan. 2.1 Subject to the provisions of this Agreement, the Lender agrees to lend to the Borrower a loan in the principal sum of Five Hundred Thousand Dollars (US$500,000.00) to be paid in two (2) tranches of US$250,000 each by 31st January 2024 and 31st March 2024.
