Customer Loans Sample Clauses

Customer Loans. Neither ACE nor the Stockholders have any knowledge or any grounds to believe that any customer loan or other obligation on which ACE is contingently liable as endorser, co-maker or otherwise is in default or that default is pending or threatened.
Sample 1
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Customer Loans. At Closing, Seller will assign and convey to Buyer (or one or more of Buyer’s wholly owned subsidiaries), and Buyer (or one or more of Buyer’s wholly owned subsidiaries) shall assume and purchase from Seller, all of Seller’s rights, title and interest in the customer notes and related collateral documents set forth on Schedule 2.2(l) (the “Customer Loans”) in accordance with assignment documents in form and substance mutually satisfactory to Seller and Buyer. At least ten (10) days prior to Closing, Seller and Buyer shall mutually agree on the then-applicable unamortized balance of the Customer Loans as of the Closing Date (the “Customer Loan Balance”).
Sample 1
Customer Loans. Xxxx Propulsion B.V. has granted the loans to customers as included in Schedule 10.4. Any repayment on these loans (including interest payments and profit sharing arrangements such as included in article 7 of the Samenweringsovereenkomst “Inruilgarantie Xxxxx Xxxxx” dated 21 April 2017), by these customers actually received in cash, in kind, by means of set-off by or otherwise paid to Xxxx Propulsion B.V. shall be forthwith paid in cash by Xxxx Propulsion B.V. to the Seller. The Purchaser shall ensure that Xxxx Propulsion B.V. shall satisfy this obligation. In addition to the information provision included in Clause 10.1.1, Purchaser or the relevant Group Company shall, upon a written request thereto by Seller, inform Seller promptly on the relevant requested information regarding the (repayment of) the customer loans.
Sample 1
Customer Loans. The underlying agreements will reside on the Borrower’s paper and systems. There will only be one facility between the Borrower and Conister. The underlying agreements will be assigned against the Wholesale Funding Agreement (WFA) facility to Conister.
Sample 1
Customer Loans. The underlying agreements will reside on the Borrower’s paper and systems. There will only be one facility between the Borrower and Conister. The underlying agreements will be assigned against the Block facility to Conister on each drawdown. Conister will also expect to take a floating charge over the Borrower’s assets. On each drawdown underlying assets will be secured and assigned to Conister through a deed of assignment. The key feature of this product is that the Borrower will make capital and interest repayments during the term of the loan (maximum 5 years). Conister will fund a percentage of the advance of the debt, and will expect a security cover ratio of between 125%-300% of the gross receivables on drawdown. If the underlying agreements that are assigned by the Borrower go into arrears/default, then this can be replaced by further loans (unencumbered assets) which will be assigned to Conister. Therefore, allowing the Borrower to always meet the covenants agreed of 125%-300% asset cover.
Sample 1
Customer Loans. (a) Subject to the terms and conditions hereof, each Customer Lender severally agrees to make revolving credit loans ("Customer Loans") to the Borrower from time to time during the Customer Commitment Period in an aggregate principal amount at any one time outstanding which does not exceed the amount of such Lender's Customer Commitment. During the Customer Commitment Period the Borrower may use the Customer Commitments by borrowing, prepaying the Customer Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. Customer Loans shall be made as Base Rate Loans only. (b) The Borrower shall repay (i) each Customer Loan within 5 Business Days of the making of such Customer Loan and (ii) all outstanding Customer Loans on the Customer Termination Date." 5. Amendment to Section 2.4. (a) Section 2.4(a) of the Credit Agreement is hereby amended by inserting the following in the first sentence therein immediately prior to the reference to "; provided": "(such Borrowing Base being reduced for purposes hereof to the extent it supports Overadvance Loans at any time)" (b) Section 2.4(c) of the Credit Agreement is hereby amended by deleting such Section in its entirety and substituting in lieu thereof the following: (c) If on any date (x) prior to December 31, 2001 or (y) after December 31, 2001 on which Overadvance Commitments are not outstanding, the Total Revolving Extensions of Credit as of such date exceed the lesser of (i) the then applicable Borrowing Base and (ii) the Total Revolving Credit Commitments as of such date, then, without notice or demand, the Borrower shall, on such date, prepay the Revolving Credit Loans and, if necessary, cash collateralize (on terms and conditions satisfactory to the Administrative Agent) the Letters of Credit in an aggregate principal amount equal to such excess. If on any date after December 31, 2001 on which Overadvance Commitments are outstanding, the sum of the Total Revolving Extensions of Credit plus the Total Overadvance Extensions of Credit as of such date exceeds the lesser of (i) the then applicable Borrowing Base and (ii) the sum of the Total Revolving Credit Commitments plus the Total Overadvance Commitments as of such date, then, without notice or demand, the Borrower shall, on such date and on a pro rata basis (as between the Overadvance Commitments and the Revolving Credit Commitments), prepay the Overadvance Loans, the Revolving Credit Loans and, if necessary, cash collate...
Sample 1
Customer Loans. All currently outstanding loans of, or current extensions of credit by, the Company to customers of the Company (individually, a “Customer Loan,” and collectively, the “Customer Loans”) are adequately documented and, to the Knowledge of the Company, each note evidencing a Customer Loan, or loan or credit agreement or security instrument related to the Customer Loans constitutes a valid, legal and binding obligation of the customer thereunder, enforceable in accordance with the terms thereof, except where the failure thereof would not, individually or in the aggregate, have a Material Adverse Effect. There are no oral modifications or amendments or additional agreements related to the Customer Loans that are not reflected in the Company’s records, no claims of defense as to the enforcement of any Customer Loan has been asserted, and the Company is aware of no acts or omissions which would give rise to any claim or right of rescission, set-off, counterclaim or defense, except where any of the foregoing would not have, either individually or in the aggregate, a Material Adverse Effect. The Company currently maintains an allowance for loan losses allocable to the Customer Loans which complies with applicable loan loss reserve requirements established in accordance with GAAP. Except as disclosed in Schedule 3.21, none of the Customer Loans are presently serviced by third parties, and there is no obligation which could result in any Customer Loan becoming subject any third-party servicing.
Sample 1
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Customer Loans 
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Related to Customer Loans

  • Member Loans The Member may make loans (“Member Loans”) to the Company, which shall bear interest and be repaid on such reasonable terms and conditions as may be approved by the Member.

  • Cash Advances An Finance Charge will be imposed on cash advances from the date made or from the first day of billing cycle in which the cash advance is posted to your account, whichever is later, and will continue to accrue until the date of payment.

  • Other Loans In the event the Partnership is in need of additional funds other than an FF&E Loan or a Capital Improvement Loan, the Company may, but shall not be obligated to, make loans to the Partnership in such amounts as are necessary. Any such loan shall bear interest at a rate, and shall have repayment terms, as the General Partner shall reasonably determine.

  • Intercompany Loans Notwithstanding any provision to the contrary set forth in the Transaction Documents (including, without limitation, clause (s) of the definition of “Eligible Loan” in Annex X), the Guarantor (i) shall not permit any Seller to sell, transfer, assign or otherwise convey any Intercompany Loan to Bunge Funding under the Sale Agreement that has a maturity in excess of six (6) years and (ii) shall either cause a Seller, Bunge Funding or the Trustee to demand repayment of all outstanding principal and accrued interest under each Intercompany Loan or cause a Seller to refinance such amounts by making a new Intercompany Loan to the applicable Obligor within six (6) years from the date of such Intercompany Loan.

  • Loans 3.1. On each Loan Subscription Date, not later than the time specified by Xxxxxx (such time to be posted to the TALF Website in advance of such Loan Subscription Date), each TALF Agent may submit to Lender, in the manner specified by Xxxxxx from time to time, a request for Loans on behalf of each Applicable Borrower proposing to borrow Loans on the next scheduled Loan Closing Date (each such request, a “Loan Request”). Each TALF Agent shall complete the Loan Request in accordance with instructions provided by Custodian from time to time, in the form attached hereto as Appendix 3A or, in the case of a Loan to be secured by CMBS Collateral, Appendix 3B. Lender shall promptly provide Custodian with the information contained in each such Loan Request. Notwithstanding the foregoing, a TALF Agent shall not be permitted to submit a Loan Request unless (x) it has previously delivered to Custodian a copy of the Letter of Agreement pursuant to which it became a party hereto and (y) in the case of a Loan to be secured by Newly Issued CMBS Collateral and with respect to each such Item of Newly Issued CMBS Collateral, the following documents shall have been delivered to Lender and Custodian at or before the stated times: (1) not later than 5:00 p.m. on the eighth Business Day before the applicable Loan Subscription Date, the Offering Materials (as defined below) (which may be in preliminary form to the extent Offering Materials in final form are not then available), (2) not later than 5:00 p.m. on the sixth Business Day prior to the applicable Loan Subscription Date, an AUP Report (TALF) and an AUP Report (Industry) relating to such Offering Materials and (3) not later than the Business Day after any supplement to such Offering Materials is furnished to prospective investors, each such supplement, together with an AUP Report (TALF) and an update to the earlier AUP Report (Industry); provided, that each such supplement and related AUP Report (TALF) and update to AUP Report (Industry) shall be delivered not later than 5:00

  • Employee Loans Borrower has no outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Advances; Payments (i) In each funding notice provided by Agent to a Lender hereunder, Agent shall provide such Lender with written confirmation (by telephone, telecopy or email (if such Lender has provided email notice coordinates to Agent)) that all conditions precedent hereunder to such funding have been satisfied or waived in accordance with the terms hereof. (ii) Each Lender shall make the amount of such Lender’s Pro Rata Share of such Loan available to Agent in same day funds by wire transfer to Agent’s account not later than 12:00 noon (New York time) (or promptly thereafter) on the requested funding date (which must be a Business Day). Swingline Lender shall make the amount of the requested Swingline Loan available to Agent in same day funds by wire transfer to Agent’s account not later than 12:00 noon (New York time) (or promptly thereafter) on the requested funding date (which must be a Business Day). After receipt of such wire transfers (or, in Agent’s sole discretion, before receipt of such wire transfers), subject to the terms hereof, Agent shall make the requested Loan to Borrower. All payments by each Lender shall be made without setoff, counterclaim or deduction of any kind. Revolving Loans to be made for the purpose of refunding Swingline Loans shall be made by Revolving Lenders as provided in Section 2.1(c). (iii) On the fifth (5th) Business Day of each Fiscal Quarter or more frequently at Agent’s election (each, a “Settlement Date”), Agent shall advise each Lender by telephone, telecopy or email (if such Lender has provided email notice coordinates to Agent) of the amount of such Lender’s Pro Rata Share of principal, interest and fees paid for the benefit of Lenders with respect to each applicable Loan. Provided that each Lender has funded all payments and Loans required to be made by it and purchased all participations required to be purchased by it under this Agreement and the other Financing Agreements as of such Settlement Date, Agent shall pay to each Lender such Lender’s Pro Rata Share of principal, interest and fees paid by Borrower since the previous Settlement Date for the benefit of such Lender on the portion of the Loans held by it. Notwithstanding the foregoing, if there exists a Defaulting Lender each payment by the Borrower to such Defaulting Lender hereunder shall be applied in accordance with Section 3.8(a)(i). Such payments shall be made by wire transfer to such Lender’s account not later than 2:00 p.m. (New York time) on the next Business Day following each Settlement Date. Each payment to Agent on account of the principal of or interest on the Swingline Loans or of any fee, commission or other amounts payable to Swingline Lender shall be made in like manner, but for the account of Swingline Lender.

  • Equipment Advances (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Equipment Advances to Borrower. Borrower may request Equipment Advances at any time during the Draw Period, provided that the initial Equipment Advance shall not exceed One Million Five Hundred Thousand Dollars ($1,500,000) (the “Initial Equipment Advance”). The aggregate outstanding amount of Equipment Advances shall not exceed the Equipment Line. Each Equipment Advance shall not exceed sixty percent (60%) of the invoice amount of equipment and software listed in that certain Machinery and Equipment 2013 Projection delivered to Bank on or about the Closing Date (which Borrower shall, in any case, have purchased, (i) with respect to the Initial Equipment Advance, within one hundred eighty (180) days and (ii) with respect to all subsequent Equipment Advances, within ninety (90) days, of the date of the corresponding Equipment Advance), excluding taxes, shipping, warranty charges, freight discounts and installation expense. Each Equipment Advance must be in an amount equal to the lesser of One Hundred Fifty Thousand Dollars ($150,000) or the amount that has not yet been drawn under the Equipment Line. (ii) Interest shall accrue from the date of each Equipment Advance at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Equipment Advances that are outstanding on June 30, 2013 shall be payable in twenty seven (27) equal monthly installments of principal, plus all accrued interest, beginning on July 1, 2013, and continuing on the same day of each month thereafter through the Equipment Maturity Date. Any Equipment Advances made by Bank after June 30, 2013 shall immediately amortize and be payable in equal monthly installments of principal, plus all accrued interest, beginning on the first (1st) day of the month immediately following such Equipment Advance and continuing on the same day of each month thereafter through the Equipment Maturity Date, at which time all amounts due in connection with the Equipment Advances made under this Section 2.1(b) shall be immediately due and payable. Equipment Advances, once repaid, may not be reborrowed. Except as set forth in the Pricing Addendum, Borrower may prepay the Equipment Advances prior to the Equipment Maturity Date, provided that on the date of such prepayment Borrower shall, (i) prepay all but not less than all of the Equipment Advances and (ii) in connection with such prepayment, pay to the Bank to the Prepayment Fee, if applicable. (iii) When Borrower desires to obtain an Equipment Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p.m. Pacific time three (3) Business Days before the day on which the Equipment Advance is to be made. Such notice shall be substantially in the form of Exhibit C. The notice shall be signed by a Responsible Officer or its designee and include a copy of the invoice for any Equipment to be financed. Bank shall be entitled to rely on any facsimile notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance.” 2. Section 2.1(c) of the Agreement hereby is amended and restated in its entirety to read as follows:

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to one percent (1.0%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(d) below.

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