Future Advance Sample Clauses
Future Advance. In connection with this Amendment, Lender is making a Future Advance to Borrower in the amount of $28,677,000.
Future Advance. The parties agree and acknowledge that the Secured Party, although under no obligation, may advance the Debtor additional funds from time to time. The future advances shall become secured pursuant to the terms and conditions as contained herein.
Future Advance. If the Advance Request is to obtain a Future Advance, such Advance Request shall be in the minimum amount of $5,000,000. If all conditions precedent contained in Section 5.03 and the General Conditions contained in Section 5.01 are satisfied, Lender shall make the requested Future Advance, at a closing to be held at offices reasonably designated by Lender on a Closing Date reasonably selected by Lender, which date shall be not more than three (3) Business Days after Borrower’s receipt from Lender of the confirmed Rate Form (or on such other date as Borrower and Lender may agree). The Commitment will be fully drawn on the Initial Closing Date and accordingly no Future Advances are anticipated hereunder.
Future Advance. In connection with this Amendment, Lender is making the Refinance Advance to Borrower, and Borrower is repaying the Payoff Note.
Future Advance. Borrower hereby requests, and Lender hereby agrees to make, on or about the date of this First Amendment, a Future Advance in the amount of $58,881,000. In connection with the Future Advance, Borrower has amended all of the existing Security Instruments (except for the Security Instruments encumbering existing Mortgaged Properties located in New York), has added seven Additional Mortgaged Properties to the Collateral Pool by granting Security Instruments encumbering the Additional Mortgaged Properties to WMF, and has executed certain additional documents, and taken certain additional actions, in connection therewith. To reflect the foregoing, Exhibit A to the Master Agreement is hereby replaced in its entirety by the Exhibit A attached to this Agreement.
Future Advance. This Note is given to evidence the Additional Advance contemplated in Paragraph 6 of the Letter Agreement and the amounts secured by this Note and the XXXX Phase II Note shall be deemed the Phase II Advance as referenced in the Mortgage. * * * * * [Signature Page Follows]
Future Advance. So long as no Event of Default has occurred and is continuing, subject to the satisfaction of the conditions set forth herein, Lender shall make one or more advances in an aggregate amount not to exceed the principal amount of the Future Advance for Approved Leasing Expenses. The making of any advance shall not be deemed a waiver of Lender’s rights and/or remedies hereunder, nor shall it be construed to be a waiver of any of the conditions precedent to Lender’s obligations to make further or future advances of the Future Advance. The Future Advance shall be subject to Borrower’s compliance with the following conditions precedent to Lender’s satisfaction:
(a) No Event of Default has occurred and is continuing at the time of an advance of any portion of the Future Advance;
(b) Borrower shall submit completed duplicate original requests for each advance, certified as true and correct by Borrower, to Lender and Servicer (an “Advance Request”), setting forth the Future Advance amount desired and the purpose of the advance, not later than the fifteenth (15th) day of the calendar month preceding the Payment Date on which the requested advance is to be made and, subject to the other terms and conditions of this Section 2.2.1, Lender shall fund such Future Advance on such Payment Date;
(c) Borrower shall not submit more than one (1) Advance Request in any calendar month or any Advance Request for an amount less than Fifty Thousand and No/100 Dollars ($50,000.00) (except for the final advance of the Future Advance);
(d) Prior to the funding of any amount requested in the Advance Request, Lender shall have received an Officer’s Certificate certifying (v) that such funds will be used only to pay Approved Leasing Expenses and a description thereof, (w) that all outstanding trade payables (other than those to be paid from the requested disbursement or those constituting Permitted Indebtedness) have been paid in full, (x) that the same has not been the subject of a previous disbursement, (y) that all previous disbursements have been used only to pay the previously identified Approved Leasing Expenses, and (z) that any construction work associated with such Approved Leasing Expenses has been completed in good and workmanlike manner and in accordance with all applicable Legal Requirements and in accordance with approved plans and specifications therefor, and remaking, as of the date of the request, and as of the date of funding such request, each of the representations and...
Future Advance. Upon Consultant's achievement of substantial business hereunder (i.e., achievement of Net Sales of $300,000 and satisfactory performance hereunder), Company will provide Consultant with an additional $50,000 Advance, subject to the terms and conditions of the Promissory Note and Security/Pledge Agreement.
Future Advance. The Borrower must obtain a Future Advance in the amount of the increase in the Base Facility Credit Commitment.
Future Advance. If all conditions precedent contained in Section 5.03 and the General Conditions contained in Section 5.01 are satisfied, Lender shall make the Future Advance, at a closing to be held at offices reasonably designated by Lender on a Closing Date reasonably selected by Lender, but no later than the Future Advance Expiration Date.