Initial Loan Advance. The obligation of Lender to make its initial Loan Advance hereunder following the date hereof is subject to the satisfaction, immediately prior to or concurrently with the making of such Loan Advance, of the condition precedent that Lender shall have received all of the following items, each of which shall be satisfactory to Lender and its counsel in form and substance:
Initial Loan Advance. The initial Advance we will give borrower(s) will be in the amount of $ .
Initial Loan Advance. (a) Subject to the conditions contained in this Agreement, and except as otherwise specified above, the Initial Loan shall be effectuated simultaneously with the execution of this Agreement either through wire transfer or deposit of proceeds into an account of the Borrower.
Initial Loan Advance. Lender’s obligation to make the initial Loan Advance shall be subject to Lender’s receipt, review, approval and/or confirmation or waiver pursuant to Section 8.4 of the following, at Borrower’s cost and expense, each in form and content satisfactory to Lender in its sole discretion:
Initial Loan Advance. The initial advance of the Loan (the “Initial Advance”) shall be in the amount of up to $42,000,000.00, for the purposes set forth on the settlement statement prepared for the Loan closing and approved by Lender on or before the Closing Date.
Initial Loan Advance. Under the terms of the Odyssey Cargo Insurance Policy, as the silver is salvaged from the wrecks and delivered to the deck of the JBR salvage ship, Borrower is obligated to deliver cargo reports to the Odyssey Cargo Insurer detailing the inventory (serial bar codes, identification marks, measurements, weight, number of pieces/ingots, etc.), its location, and the estimated value of the cargo (the “Cargo Reports”). Borrower shall simultaneously deliver copies of the Cargo Reports to Lender. When the Cargo Reports and the Odyssey Cargo Insurer have verified that the insurance coverage for the silver under the Odyssey Cargo Insurance Policy on the deck of the JBR salvage ship is at a value of $10,000,000 or greater, Lender shall disburse to the Borrower Loan proceeds in the amount of $5,000,000.00, net of the Initial Interest Reserve.
Initial Loan Advance. Notwithstanding any provision contained in this Agreement to the contrary, Lender shall have no obligation to make the initial Advance under this Agreement under this Agreement unless Lender shall have first received:
Initial Loan Advance. Upon satisfaction of all conditions precedent to the making of the Loan, and provided that Borrower have satisfied all conditions and requirements set forth in Section 5 hereof, Lender shall advance to Borrower, pursuant to the terms of this Agreement in the amount of $8,000,000 to refinance the Premises plus certain costs associated with this Loan as set forth in a closing settlement statement delivered in connection herewith (the “Initial Advance”). The remaining $2,000,000 shall be advanced to Borrower in up to four Advances to finance costs associated with the Project (each such Advance a “Construction Advance”) in accordance with Section 2.7 hereof on or before the Conversion Date.
Initial Loan Advance. The term “Initial Loan Advance” means the first (initial) advance of borrowed funds by DCS to Company pursuant to this Agreement, as referenced in Section 5 below.
Initial Loan Advance. DCS will not make the Initial Loan Advance to Company unless and until DCS shall have first received duly executed copies of each of the following Loan Documents:
