Draw Down Agreement Sample Clauses

Draw Down Agreement. (a) This Lease Agreement is a draw down agreement. The total principal amount of this Lease Agreement is hereby expressly limited to $3,828,283 (the “Authorized Amount”), provided that the principal component of the Lease Payments at any time shall include only those portions of the principal component of Lease Payments that have been advanced from time to time by the Assignee. The Assignee shall fund the purchase price of the principal component of the Lease Payments as requested by the Office from time to time pursuant to the submittal by the District of an advance request, but not more frequently than twice a month, substantially in the form attached hereto as Exhibit C, approved by the Assignee. Such funded amount shall be transferred pursuant to wire instructions provided by the District to the Assignee, (i) for deposit in an account designated by the District for the payment of costs of the Project, or (ii) in reimbursement of previously expended costs of the Project. Amounts required to pay costs of the Project shall be paid by the District. Following each such draw-down, the aggregate principal component of Lease Payments shall be deemed outstanding and such amount so drawn down shall begin to accrue interest. The first draw-down, on the Closing Date, shall be the amount set forth in Section 3.2. If the total amount drawn is insufficient for the District to complete the Project, the District shall advance its own funds to assure such completion. Any draws shall reduce the Authorized Amount and no amounts drawn may be re- drawn for any purpose. (b) On May 1, 2019, any portion of the Authorized Amount not yet advanced by the Assignee, may, at the option of the District, (a) reduce the Authorized Amount to the total amount advanced to such date, at which time the amount advanced to date shall be the total principal amount of this Lease Agreement, or (b) the District shall submit a final advance request for all or a remaining portion of the Authorized Amount, and, from such date, interest shall apply to the final portion of the Authorized Amount as determined by the District. Such final draw will be funded into an Assignee-controlled interest bearing account in the name of the District and the funds will be released to the District as needed for future Project costs. To the extent the District’s final advance request is for an amount less than the remaining portion of the Authorized Amount, the amount not so advanced shall lapse and the total amount ad...
Sample 1
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Related to Draw Down Agreement

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  • Amendment of Loan Agreement The Loan Agreement is hereby modified and amended as follows:

  • Amendment to the Loan Agreement Section 3.1 of the Loan Agreement shall be amended and restated as follows:

  • Amendment to Loan Agreement Subject to satisfaction of the conditions precedent set forth in Section 4 below, the Loan Agreement is hereby amended as follows:

  • The Purchase Agreement This Agreement has been duly authorized, executed and delivered by the Company and the Guarantors.

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  • Lockup Agreement In consideration for the Company agreeing to its obligations under this Section 5, each Holder agrees in connection with any registration of the Company's securities that, upon the request of the Company or the underwriters managing any underwritten offering of the Company's securities, not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any Warrants or Warrant Stock (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed one hundred eighty (180) days) from the effective date of such registration as the Company or the underwriters may specify.

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