End Loan Documents Sample Clauses

End Loan Documents. Each End Loan, together with their respective End Loan Documents: i. Must be extended to a Borrower with: (a) XXXX employees and (b) annual revenues of $XXXXX or less; ii. Must be extended to a Borrower that is organized on a for-profit basis; iii. Must be a term loan, in the principal amount of at least $XXXX and not to exceed $XXXXX; iv. Must not exceed a term of XXXX (X) years from the date of the original End Loan, including after giving effect to any and all amendments, restatements, modifications, substitutions, and extensions thereof; v. Must have a maximum interest rate not to exceed XXXX (X%) per annum; vi. Shall be extended to a Borrower only after the Lender has performed its usual and customary due diligence with respect to each Borrower and each End Loan, including performing a credit analysis of each Borrower and customary underwriting analyses, all in accordance with Lender’s established standards, and the results shall be satisfactory to Lender. In addition, for each Borrower that has not produced material revenues from operations, Lender shall require and verify that each Borrower, prior to receiving the End Loan: (a) has participated, or is participating, in business counseling services, (b) has a business plan and cash-flow, in each case, deemed viable by the Lender, and (c) has proper technical assistance deemed acceptable to the Lender. vii. Shall include the guarantee of payment in favor of the Lender, from each natural person or entity holding an ownership interest constituting at least twenty percent (20%) of the Borrower. In addition to the aforesaid guarantee of payment, each End Loan must be secured by Collateral in some form acceptable to the Lender; viii. Shall require that End Loan proceeds: (i) must be used for a “business purpose.” A business purpose includes, but is not limited to, startup costs, working capital, franchise fees, and acquisition of equipment, inventory, or services used in the production, manufacturing, or delivery of a business’s goods or service, as well as the purchase, construction, renovation or tenant improvements of an eligible place of business that is not for passive real estate investment purposes, and any tangible or intangible assets except goodwill. The definition of business purpose excludes acquiring or holding passive investments in real estate, such as commercial real estate ownership, the purchase of securities; and lobbying activities as defined in Section 3(7) of the Lobbying Disclosure A...

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Related to End Loan Documents

Credit Agreement and Loan Documents The Administrative Agent (or its counsel) shall have received (i) from each party hereto either (A) a counterpart of this Agreement signed on behalf of such party or (B) written evidence satisfactory to the Administrative Agent (which may include fax or other electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement, (ii) duly executed copies of the Loan Documents and such other certificates, documents, instruments and agreements as the Administrative Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including any promissory notes requested by a Lender pursuant to Section 2.10 payable to the order of each such requesting Lender, and (iii) written opinions of the counsel to the Loan Parties, addressed to the Administrative Agent, the Issuing Bank and the Lenders and including the opinions set forth in Exhibit C.
Senior Loan Documents The executed Senior Loan Documents are the same forms as approved by HUD prior to the date of this Agreement. Upon execution and delivery of the Senior Loan Documents, Borrower shall deliver to Subordinate Lender an executed copy of each of the Senior Loan Documents, certified to be true, correct and complete.
Perform Loan Documents Borrower shall observe, perform and satisfy all the terms, provisions, covenants and conditions of, and shall pay when due all costs, fees and expenses to the extent required under the Loan Documents executed and delivered by, or applicable to, Borrower.
Loan Documents The Requisite Lenders may direct the Administrative Agent to, and the Administrative Agent if so directed shall, exercise any and all of its rights under any and all of the other Loan Documents.
Credit Agreement; Loan Documents This Agreement or counterparts hereof shall have been duly executed by, and delivered to, Borrowers, each other Credit Party, Agent and Lenders; and Agent shall have received such documents, instruments, agreements and legal opinions as Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including all those listed in the Closing Checklist attached hereto as Annex D, each in form and substance reasonably satisfactory to Agent.
Credit Documents Administrative Agent shall have received sufficient copies of each Credit Document originally executed and delivered by each applicable Credit Party for each Lender.
Other Loan Documents Each of the conditions precedent set forth in the other Loan Documents shall have been satisfied.
Required Loan Documents The Collateral Custodian will not dispose of any documents constituting the Required Loan Documents in any manner that is inconsistent with the performance of its obligations as the Collateral Custodian pursuant to this Agreement and will not dispose of any Collateral Portfolio except as contemplated by this Agreement.
Execution of Credit Agreement; Loan Documents The Administrative Agent shall have received (i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person party thereto, as applicable and (iv) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto.
Loan Documents, etc Each of the Loan Documents shall have been duly executed and delivered by the respective parties thereto, shall be in full force and effect and shall be in form and substance satisfactory to each of the Lenders. Each Lender shall have received a fully executed copy of each such document.