Future Advance. In connection with this Amendment, Lender is making a Future Advance to Borrower in the amount of $53,439,000.
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).
Future Advance. Borrower hereby requests, and Lender hereby agrees to make, on or about the date of this Second Amendment, a Future Advance in the amount of $32,978,000. 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 three 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 AIC Phase II Note shall be deemed the Phase II Advance as referenced in the Mortgage. * * * * * [Signature Page Follows]
Future Advance. The Borrower must obtain a Future Advance in the amount of the increase in the Base Facility Credit Commitment.
Future Advance. This Mortgage is given to secure not only an existing indebtedness, but also such future advances, whether such advances are obligatory or are to be made at the option of the Mortgagee, or otherwise, as are made within twenty years from the date hereof, to the same extent as if such future advance were made on the date of execution of this Mortgage. The total amount of indebtedness that may be so secured may decrease or increase from time to time, but the total unpaid balance so secured at any one time shall not exceed $50,000, plus interest thereon, and any disbursements made for future advances plus interest thereon, including, but not limited to, the payment of taxes, levies or insurance on the Mortgaged Property.
Future Advance. This Agreement evidences an additional advance made by Mortgagee pursuant to the future advance provision of the Mortgage referred to hereinabove. This additional advance is evidenced by the Note of even date herewith. It is agreed that the indebtedness evidenced by the Note shall be equally secured with and have the same priority as the original indebtedness and is subject to all of the terms and provisions of the Mortgage and other Loan Documents as expressly modified herein. The undersigned Mortgagor promises to pay the indebtedness evidenced by the Note in accordance with the terms and conditions including the rate of interest and other terms of repayment set forth in the Note.
Future Advance. It is acknowledged that simultaneously herewith, Mortgagor has borrowed the additional sum of $250,000.00 from Mortgagee, under and pursuant to the terms of that certain Promissory Note in the principal amount of $250,000.00, dated of even date herewith and executed by Mortgagor in favor of Mortgagee (the "250M Note"). The 250M Note is made pursuant to the terms and provisions of the Original Mortgage, as modified herein, and the additional sum evidenced thereby shall be and is fully secured by the Original Mortgage and the Original Loan Documents, as modified herein, all of which shall provide Mortgagee with a first priority lien and security interest in the Mortgaged Property, except as set forth in that certain Subordination Agreement dated as of even date herewith by and among Mortgagor, Mortgagee, Mitchell Entertainment Company, a Delaware corporation ("Mitchell") xxx Xxrragon South Development Corp., a Nevada corporaxxxx ("Tarragon") (the "Subordination Agreement").
Future Advance. This Agreement evidences an additional advance made by Lender pursuant to the future advance provision of the Security Instruments. It is agreed that this additional advance, as evidenced by the Third Future Advance Promissory Note in the principal amount of ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) (the "Third Future Advance Note"), a copy of which is attached hereto as Exhibit "A" and made a part hereof, shall be equally secured with and have the same priority as the original indebtedness and is subject to all the terms and provisions of the Security Instruments. The undersigned Borrower promises to pay the indebtedness evidenced by the Third Future Advance Note in accordance with the terms and conditions, including the rate of interest and other terms of repayment, as set forth in the Third Future Advance Note.
