Existing Advance. If You have not yet paid Your previous Specified Amount from Your prior advance in full and therefore have an outstanding advance (“Existing Advance”) with Parafin and are agreeing to the new Capital Amount herein, You agree and acknowledge that Parafin may use Your Capital Amount to pay Your Existing Advance’s outstanding balance. You further agree and acknowledge that the amount You receive in Your Linked Bank Account (the “Net Financing Amount”) is lower than the total amount of Your Capital Amount, because Parafin has deducted the outstanding balance of Your Existing Advance from the Capital Amount. The details of this payment have been communicated to You at the time of the offer, and are also included in the Capital Advance Details above. By agreeing to this Agreement, and using Your Capital Amount to pay the Existing Advance outstanding balance, Your Existing Advance obligations have been terminated and Your Capital Amount with Parafin is solely governed by this Agreement. For California and New York Merchants, additional details of Your Net Financing Amount are included in the Net Financing Disclosure that was provided to You prior to Your acceptance of Your offer.
Existing Advance. All of the proceeds of the Existing Advance have been, and continue to be, for the benefit of Borrower.
Existing Advance. If You have not yet paid Your previous Specified Amount from Your prior advance in full and therefor have a currently outstanding advance (“Existing Advance”) with Parafin and are agreeing to the new Capital Amount herein, You agree and acknowledge that Parafin may use Your Capital Amount to pay Your outstanding balance. You further agree and acknowledge that the amount You receive in Your Linked Bank Account (the “Net Financing Amount”) is lower than the total amount of Your Capital Amount, because Parafin has deducted the outstanding balance of Your Existing Advance from the Capital Amount. The details of this payment have been communicated to You at the time of the offer, and are also included in the Capital Advance Details above. By agreeing to this Agreement, and using Your Capital Amount to pay the Existing Advance outstanding balance, Your Existing Advance obligations have been terminated and the New Capital Amount is solely governed by this Agreement.
Existing Advance. Notwithstanding anything herein to the contrary, the Existing Advance shal I remai n outstandi ng under thi s Agreement and shal I be deemed to be a Revolvi ng Loan made by the Lenders on the Effective Date (the “ Initial Revolving Loan”). The Initial Revolving Loan shall be deemed made to the Authority pursuant to the terms of this Section 2.3(d) and Section 3.1 hereof; provided, however, that no amounts shall be paid by the Administrative Agent or any Lender to the Authority in connection with the Initial Revolving Loan. Not later than 1:30 p.m. New York time on the Effective Date, U.S. Bank will make available to the Administrative Agent, for the account of State Street, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, $24,331,591.93, such amount being equal to U.S. Bank’s Commitment Percentage of the Existing Advance. Upon U.S. Bank’s payment of the Existing Advance as set forth in the immediately preceding sentence, each Lender shall be deemed to have funded its respective Commitment Percentage of the Initial Revolving Loan. Pursuant to Section 3.3 hereof, the Administrative Agent shall determine the initial LIBOR Rate for the Initial Revolving Loan two London Business Days prior to the Effective Date.
Existing Advance. Borrower acknowledges and agrees that Purchaser has previously advanced to Borrower and WVI the Existing Advance and that all of the proceeds of the Existing Advance have been for the benefit of Borrower. Accordingly, Borrower hereby assumes WVI's obligation, if any, with respect to the Existing Advance. Borrower's obligation to repay the Existing Advance shall hereinafter be evidenced by the Convertible Note.
Existing Advance. If You have not yet paid Your previous Specified Amount from Your prior advance in full and therefore have an outstanding advance (“Existing Advance”) with Parafin and are agreeing to the new Capital Amount herein, You agree and acknowledge that Parafin may use Your Capital Amount to pay Your Existing Advance’s outstanding balance. You further agree and acknowledge that the amount You receive in Your Linked Bank Account (the “Net Financing Amount”) is lower than the total amount of Your Capital Amount, because Parafin has deducted the outstanding balance of Your Existing Advance from the Capital Amount. The details of this payment have been communicated to You at the time of the offer, and are also included in the Capital Advance Details above. By agreeing to this Agreement, and using Your Capital Amount to pay the Existing Advance outstanding balance, Your Existing Advance obligations have been terminated and Your Capital Amount with Parafin is solely governed by this Agreement. Should you make any manual payments to pay Your Existing Advance outstanding balance in full, any new Capital Amount extended to You is contingent upon your satisfaction of any Existing Advance outstanding balances. If any payments fail for any reason on Your Existing Advance, and you have been disbursed a new Capital Amount, You agree that Parafin may, and authorize Parafin to, deduct from Your Linked Bank Account an amount up to the entire Existing Advance outstanding balance. You hereby further agree that should Your payment on an Existing Advance fail, Parafin may in its sole discretion void and cancel this agreement and debit from Your account an amount up to the entire Capital Amount under this Agreement. For California and New York Merchants, additional details of Your Net Financing Amount are included in the Net Financing Disclosure that was provided to You prior to Your acceptance of Your offer.
