Government Loan Amount Sample Clauses

Government Loan Amount. Following the Closing Purchaser shall, and shall cause the Amtrol Companies to, use commercially reasonable efforts to secure the forgiveness of those portions of the Government Loan Amount that are subject to forgiveness in accordance with their terms; provided, however, that (i) the Stockholder Representative, on behalf of the Company Securityholders, shall reimburse Purchaser and the Amtrol Companies for (A) any reasonable documented out-of-pocket expenses incurred in connection with seeking the forgiveness of any portion of the Government Loan Amount and (B) any Taxes which become payable as a result of the forgiveness of any portion of the Government Loan Amount, and (ii) for avoidance of doubt, Purchaser and the Amtrol Companies shall have no obligation to take any action that is commercially unreasonable or is inconsistent with their business plan for the purpose of obtaining forgiveness of the Government Loan Amount. Subject to any offset provided for in Section 3.10(f), if and when any portion(s) of the Government Loan Amount are forgiven, within fifteen (15) Business Days of receiving notice of such forgiveness, Purchaser shall pay to the Stockholder Representative the forgiven amount, less (1) the amount of any expenses incurred by Purchaser or the Amtrol Companies in connection with obtaining such forgiveness and (2) any Taxes payable by Purchaser or the Amtrol Companies as a result of obtaining such forgiveness (to the extent such Taxes have not previously been reimbursed by the Stockholder Representative pursuant to clause (i) of the first sentence of this Section 3.6, by wire transfer of immediately available funds to such account as designated in writing by the Stockholder Representative.
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Related to Government Loan Amount

  • Government Funding No government funding, facilities or resources of any government, international organization, university, college, other educational institution or research center was used in the development of the Company Products or Company Intellectual Property.

  • Government Receivables Take all steps necessary to protect Agent’s interest in the Collateral under the Federal Assignment of Claims Act, the Uniform Commercial Code and all other applicable state or local statutes or ordinances and deliver to Agent appropriately endorsed, any instrument or chattel paper connected with any Receivable arising out of contracts between any Borrower and the United States, any state or any department, agency or instrumentality of any of them.

  • Government Accounts Accounts that are the obligation of an Account Debtor that is the United States government or a political subdivision thereof, or any state, county or municipality or department, agency or instrumentality thereof unless Agent, in its sole discretion, has agreed to the contrary in writing, or the applicable Credit Party has complied with respect to such obligation with the Federal Assignment of Claims Act of 1940, or any applicable state, county or municipal law restricting the assignment thereof with respect to such obligation;

  • Government Consent No order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by, any governmental or public body or authority is required on the part of the Borrower to authorize, or is required in connection with the execution, delivery and performance of, or the legality, validity, binding effect or enforceability of, the Loan Documents.

  • Income Collection; Autocredit (a) Bank shall credit the Cash Account with income and redemption proceeds on Financial Assets in accordance with the times notified by Bank from time to time on or after the anticipated payment date, net of any taxes that are withheld by Bank or any third party. Where no time is specified for a particular market, income and redemption proceeds from Financial Assets shall be credited only after actual receipt and reconciliation. Bank may reverse such credits upon at least 48 hours prior oral or written notification to Customer when Bank believes that the corresponding payment shall not be received by Bank within a reasonable period or such credit was incorrect.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Government Consents Borrower and each Subsidiary have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of Borrower’s business as currently conducted, except where the failure to do so would not reasonably be expected to cause a Material Adverse Effect.

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