Grant of the Loan Sample Clauses

Grant of the Loan. The Lender grants to the Borrower and the Borrower hereby agrees to borrow from the Lender upon the terms and subject to the conditions hereof, a single disbursement term loan facility in the amount of U.S.$200,000,000 (the “Loan”).
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Grant of the Loan. (a) Subject to Section 6.3 of this Agreement, the Company hereby undertakes to grant a loan in an aggregate amount of no more than the USD equivalent to RMB18,000,000 (the “Loan”) to the Subscribers. The Subscribers hereby confirm that the Company has already funded the Subscribers an aggregate amount of RMB8,000,000 on the date hereof in connection with the Equity Transfer Agreement. The remaining RMB10,000,000 shall be funded by procuring Yinnuowei to forgive Yinnuowei’s existing loan to the Subscribers in an aggregate amount of RMB10,000,000. The Subscribers shall issue a receipt to the Company evidencing they have fully received the Loan. (b) The Loan shall be matured and repaid in full with the interests accrued by the Subscribers to the Company at the Tranche B Completion Date (“Repayment Date”). (c) Interest shall accrue on the outstanding balance of the Loan commencing from the Funding Date at the annual rate of 5% calculated on a basis of a year of three hundred sixty five (365) days. (d) If the amount of the Tranche B Cash Payment is equivalent to or more than the Loan (including the accrued interest), the Company shall have the right to offset the Tranche B Cash Payment with the Loan. In such case, the Subscribers are not obliged to repay the Loan and the Loan shall be deemed as fully repaid. (e) If the Tranche B Cash Payment is less than the Loan (including the accrued interest), the Company shall have the right to offset the Tranche B Cash Payment with the Loan and the shortfall of the Loan shall be fully repaid by the Subscribers on the Repayment Date.
Sample 1
Grant of the Loan. 2.1 Upon the request of the Obligor(s), CFIL hereby agrees to grant to the Borrower, the Loan Facility for a maximum amount as set-out in Schedule 1 during the Utilization Period and the Borrower agrees to avail of the Loan Facility during the Utilization Period upon the terms and subject to the conditions set out hereinafter. The Borrower understands and confirms and accepts that the Loan and any part thereof is to be provided and made available and/or continued at the sole discretion of CFIL, including with regard to provision of security by the Obligor(s) in form and manner acceptable to CFIL, over the Secured Assets. 2.2 The Borrower hereby agrees and undertakes that the proceeds of the Advances shall be used only for the Purpose and shall not be used for any other purposes, including for financing of any takeover or acquisition related activity including, but not limited to, as contemplated under the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The borrower also hereby agrees and undertakes that the proceeds of the Advances shall not be used for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold Mutual Funds and for any other purpose, as may be specifically prohibited by law and/or regulations applicable in India. 2.3 The Borrower may request for Disbursement of an Advance by delivering to CFIL, at least 2 (two) Banking Days prior to the proposed date of Disbursement, a request for Disbursement alongwith a demand promissory note and letter of continuity strictly in the form required by CFIL, as may be communicated to the Borrower from time to time. The Borrower shall issue a receipt to CFIL for each Advance strictly in the form required by CFIL, as may be communicated to the Borrower from time to time. 2.4 Subject to the restrictions set-out in this Agreement, each Disbursement of an Advance shall be made for an amount as stated in the Request for Disbursement of Advance. 2.5 No Advance shall be made if the amount of the Advance requested for, together with the aggregate amount of the Advances drawndown and outstanding, exceeds the amount of the Available Commitment as set out in Schedule 1. 2.6 No Advance under this Loan Facility will be available after the Termination Date. 2.7 The Obligor(s) agrees and confirms that CFIL shall be absolutely and solely entitled to de...
Sample 1
Grant of the Loan. Party A shall start collecting the Loan under this Agreement within _BLANK_ month after the effective date of the Agreement, or collect the Loan in accordance with the grant plan stipulated in this Agreement. The grant plan is confirmed by the Parties through consultation. Party A may collect the Loan in one time or by installment for the purpose stipulated in this Agreement. Should Party A fail to collect the Loan in accordance with the grant plan, Party A will not have the right to collect the amount that has not been collected without the consent of Party B, and Party B shall be entitled to collect the commitment fee of _____ in one time from Party A at the rate of _____. For every withdrawal, Party A has to fulfill the collecting procedures as required by Party B.
Sample 1
Grant of the Loan. (a) The Borrower shall inform the Company in writing of account information on the date preceding the Funding Date. The Company shall remit the Loan to the Account if it receives the written account information. (b) On the Funding Date, the Borrower shall issue a receipt to the Company evidencing that it has fully received the Loan. (c) The Loan shall be granted to the Borrower in USD. The exchange rate between USD and RMB shall be the exchange rate published by the People’s Bank of China on the date preceding the Funding Date.
Sample 1
Grant of the Loan. (a) The Borrower hereby confirms that the Lender has fully advanced the Loan to the Borrower as of the following date in the following ways: (i) On February 1st and 6th, 2007, the Lender has granted RMB 6,000,000 to ITC, and the Borrower hereby confirms that it has received such amount from ITC which constitutes a part of the Loan as described herein; (ii) On March 30th, 2007, the Lender has granted RMB 1,000,000 to Xx Xxx and Xxx Xxx respectively, and the Borrower hereby confirms that such RMB 2,000,000 constitutes a part of the Loan as described herein; (iii) In consideration of the debt in an amount of RMB 10,000,000 owed by the Borrower to ITC, the Parties hereby agrees that such debt shall be assigned to the Lender which constitutes a part of the Loan as provided by the Lender to the Borrower. (b) The Borrower hereby confirms that it has fully received the Loan as described above.
Sample 1

Related to Grant of the Loan

  • Repayment of the Loan Subject to the terms and conditions set forth in the Subordination Agreement and the Senior Credit Agreement, the Borrower shall, until such time as all outstanding Obligations (other than Unasserted Obligations (as defined in the Subordination Agreement)) shall have been paid in full, repay to the Lender the outstanding principal balance of the Loan on each of September 10, 2020, December 10, 2020 and March 10, 2021, in an amount on each such date equal to $25,000,000 less any amount that has been applied to pay any Senior Obligations pursuant to Section 2.05 of the Senior Credit Agreement on such date. For avoidance of doubt, except as otherwise as set forth in the immediately succeeding sentence, accrued interest on any such principal payment shall not become due and payable at such time, and shall instead be payable in accordance with Section 2.06 hereof. Notwithstanding the foregoing, if on any date on which a payment of principal is required to be made pursuant to the first sentence of this Section 2.05, less than the required payment amount of the principal balance of the Loan remains outstanding and unpaid, the Borrower shall pay the following obligations (if any) in the following order until either the sum paid on such date equals the required payment amount for such date or all outstanding Obligations (other than Unasserted Obligations (as defined in the Subordination Agreement)) have been paid in full: (A) outstanding unpaid principal of the Loan, (B) accrued and unpaid interest on the Loan and (C) all other outstanding Obligations (other than Unasserted Obligations (as defined in the Subordination Agreement)). The outstanding unpaid principal balance of the Loan and all accrued and unpaid interest on the Loan shall be due and payable on the Scheduled Maturity Date. If all of the outstanding principal balance of the Loan and accrued interest on the Loan are fully repaid on any date, this Agreement shall terminate as of such date. Any repayment or prepayment of the Loan that is allocated to the principal amount of the Loan shall reduce the Commitment of the Lender on a dollar for dollar basis. On each Scheduled Maturity Date prior to the Final Maturity Date, Borrower shall provide written notice (an “Extension Notice”) to the Lender not less than fifteen (15) Business Days prior to such Scheduled Maturity Date of the upcoming Scheduled Maturity Date, and, subject to lender’s confirmation of receipt of such notice, such Scheduled Maturity Date shall be extended by one additional calendar year, unless the Lender shall, in its sole and absolute discretion, have delivered written notice declining such Extension Notice not less than ten (10) Business Days prior to such Scheduled Maturity Date. If the Borrower fails to provide such Extension Notice (or fails to provide it not less than fifteen (15) Business Days prior to such Scheduled Maturity Date), then the Lender shall have the right to deliver a written notice declining any further extension (a “Non-Renewal Notice”) at any time prior to thirty (30) calendar days after the Scheduled Maturity Date, and effective upon the delivery of such Non-Renewal Notice, (i) if delivered prior to the applicable Scheduled Maturity Date, then no extension shall occur on the applicable Scheduled Maturity Date and such Scheduled Maturity Date shall constitute the Final Maturity Date, or (ii) if delivered after the applicable Scheduled Maturity Date, the date occurring two Business Days following the date of such Non-Renewal Notice shall constitute the Final Maturity Date. If no Extension Notice or Non-Renewal Notice is delivered, the Scheduled Maturity Date shall be extended by one additional calendar year.

  • Disbursement of the Loan Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA. · Disbursements may be made in increments as needed. · Other conditions may be imposed by SBA pursuant to general requirements of SBA. · Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement. · NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD. · This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and assigns and will inure to the benefit of SBA and its successors and assigns.

  • Repayment of the Loans The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Laurus under this Agreement and the Ancillary Agreements; and (c) subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

  • Term of the Loan All principal, interest and other sums due under the Loan Documents shall be due and payable in full on the Maturity Date.

  • Non-Payment of the Loans, etc Default in the payment when due of the principal of any Loan; or default, and continuance thereof for five days, in the payment when due of any interest, fee, reimbursement obligation with respect to any Letter of Credit or other amount payable by the Company hereunder or under any other Loan Document.

  • Terms of the Loan The Loan will bear interest for the period and at the rate or rates set forth in the Note, and be payable in accordance with the terms of the Note. The outstanding principal balance, all accrued and unpaid interest and all other sums due and payable under the Note or other Loan Documents, if not sooner paid, shall be paid in full at Loan Maturity.

  • Grant of the Award Subject to the provisions of this Award Agreement and the Plan, the Company hereby grants to the Participant, an aggregate of [# of Shares Granted] shares of restricted stock (the “Restricted Stock”), subject to adjustment as set forth in the Plan.

  • Purpose of the Loan The purpose of the Loan is to provide financing for the Borrower’s activities and investments.

  • The Loan Section 2.01. (a) ADB agrees to lend to the Borrower from ADB's ordinary capital resources an amount of one hundred million Dollars ($100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.06 of this Loan Agreement.

  • Grant of the Option The Company hereby grants to the Participant the right and option (the “Option”) to purchase, on the terms and conditions hereinafter set forth, all or any part of an aggregate of Shares, subject to adjustment as set forth in the Plan. The purchase price of the Shares subject to the Option shall be $ (the “Option Price”). The Option is intended to be a non-qualified stock option, and is not intended to be treated as an option that complies with Section 422 of the Internal Revenue Code of 1986, as amended.

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