Initial Draw. The initial draw on the Citizens LOC will be a $1,050,700 check to RemoteMDx, 150 West Civic Center Drive, Suite 400, Sandy, UT 84000 xxx xxxx xx xxxx xxxxxx xxx xxxxxxxxx xxxxxxxxxx xxxchased by RemoteMDx.
Initial Draw. The Initial Draw shall be advanced to an account of Xxxxxxxx’s at Fifth Third or its Affiliate and held until satisfaction of all conditions precedent to the Concorde Acquisition have been met.
Initial Draw. On the terms and subject to the conditions hereinafter set forth, Victory agrees to lend to Lxxxx upon written request in accordance with the Note (as defined below) and this Agreement up to Two Million Dollars ($2,000,000) (the “Loan”). On the date hereof, Victory shall advance to Lxxxx Two Hundred and Fifty Thousand Dollars ($250,000) (the “Initial Draw”). The Initial Draw shall be used as expressly provided in the Disbursement Instructions (as defined below) and not for any other purpose.
Initial Draw. At time of the Loan Closing, Lender will fund to Borrower`s attorney the agreed upon initial draw ( less closing costs) and will use said proceeds to pay those items described on Schedule 4.2(d).
Initial Draw. On the Execution Date, the Investor shall provide the Company under the Line of Credit, and the Company shall draw down under the Line of Credit, Twelve Million Five Hundred Thousand Dollars ($12,500,000) (the "Initial Draw"), thereby reducing to Thirty Seven Million Five Hundred Thousand Dollars ($37,500,000) the remaining amount available to the Company under the Line of Credit.
Initial Draw. As conditions precedent to the obligation of the Bank to purchase the Series 2018 Bond and make the initial advance of Loan proceeds, the District shall have provided to the Bank, on or before the Closing Date:
(i) true and correct copies of all governmental approvals, if any, necessary for the District to execute, deliver and perform its obligations under the Financing Documents;
(ii) the written opinion of the Office of the District’s Attorney General addressed to the Bank, dated the Closing Date and in form and substance satisfactory to the Bank;
(iii) the written opinion of Bond Counsel and a reliance letter addressed to the Bank, dated the Closing Date and in form and substance satisfactory to the Bank, including without limitation, to the effect that the Series 2018 Bond is not subject to the registration requirements of the Securities Act and the Supplemental Indenture is exempt from qualification pursuant to the Trust Indenture Act of 1939, as amended and as then in effect, as to the validity of the Series 2018 Bond and that the pledge of the District securing the Series 2018 Bond constituting a valid pledge and such other matters as the Bank may reasonably request;
(iv) a certificate dated as of the Closing Date of the District as to the incumbency of the signatories to each Financing Document to which it is a party and attaching copies of resolution(s) authorizing the execution, delivery and performance of such Financing Documents;
(v) a certificate of the District, signed by an Authorized Delegate of the District, dated the Closing Date, stating that on the Closing Date: (1) the representations and warranties contained herein and in the Financing Documents are true and correct on and as of the Closing Date as though made on such date, except, in each case, to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, (2) no Event of Default has occurred and is continuing, or would result from the purchase of the Series 2018 Bond by the Bank, the execution and delivery of this Agreement or any other Financing Document to which the District is a party, and no event has occurred and is continuing which would constitute an Event of Default but for the requirement that notice be given or time elapse or both, and
Initial Draw. After giving effect to the payment of, or the creation of a Reserve for, all fees and expenses related to the Related Transactions, no more than $80,000,000 in Revolving Loans (including, without duplication, all Letter of Credit Obligations incurred) will be drawn as of the Closing Date.
Initial Draw. At Closing, Borrower may make an initial draw under this Loan of the Initial Draw Amount in order to pay off all outstanding, principal, interest and other obligations of Bridgeport Fuel Cell Park, LLC, a wholly-owned Subsidiary of Borrower, under the Pre-Development Loan.
Initial Draw. At time of the Loan Closing, Escrow Agent will fund the agreed upon initial draw ( less closing costs) and will use said proceeds to pay those items and parties described on Schedule 4.2(d).
Initial Draw. Before Lender is required to advance the initial draw of the Loan Lender shall have received those items set forth on Exhibit A-1;
