Common use of Interim Financing Clause in Contracts

Interim Financing. (a) Subject to the availability to the Trust of moneys for such purpose and the provisions of Section 3(a) hereto, if the date of the Closing set forth in Schedule A of the Financing Agreement is more than forty five (45) days subsequent to the date of execution and delivery of the Financing Agreement by the Trust, the Trust (upon not less than ten (10) Business Days prior notice from the Borrower) agrees to provide interim financing (an “Interim Loan”) to the Borrower to pay or provide for all or any part of the eligible Costs of any Project (i) incurred by the Borrower on and after the date of execution and delivery by the Borrower of the Financing Agreement or (ii) incurred by the Borrower prior to the date of its execution and delivery of the Financing Agreement and either (x) paid by the Borrower from the proceeds of notes or other obligations issued by the Borrower in anticipation of the Loan or of the issuance and sale of the Local Governmental Obligations to the Trust, or (y) paid by the Borrower from other moneys available to the Borrower under a valid declaration of official intent to reimburse such payment from the proceeds of the Loan or the Local Governmental Obligations. The Interim Loan shall be evidenced by a note (the “Interim Loan Note”) issued by the Borrower to the Trust pursuant to the Applicable Authority in form and substance satisfactory to the Trust and otherwise as hereinafter provided. The Interim Loan and the Interim Loan Note, when executed and delivered, shall be (1) a valid and binding general obligation of the Borrower enforceable in accordance with its terms and payable as to principal, premium, if any, and interest (to the extent not paid from other sources) from (a) taxes which may be levied upon all taxable property within the territorial boundaries of the Borrower, subject only to the limit imposed by Chapter 59, Section 21C of the General Laws of the Commonwealth to the extent applicable to the Interim Loan Note, provided that taxes levied on certain taxable property located within a development district, if any, established by the Borrower pursuant to Chapter 40Q of the General Laws may be restricted and unavailable to pay debt service on the Interim Loan Note or (b) sums which may be annually apportioned and assessed by the Borrower on its Participating Members pursuant to the Applicable Authority, or (2) a general or special obligation of the Borrower (as provided in any Additional Security) payable from any Additional Security, if any, and any other moneys, funds, and accounts provided in the Financing Agreement and secured by a valid pledge of and lien on and perfected security interest in any such Additional Security, all as provided therein and in Schedule B to the Financing Agreement. (b) The Interim Loan Note shall be dated the date of its execution and delivery by the Borrower, shall mature and be payable on the Closing Date for the Loan or Local Governmental Obligations (subject to renewal at the option of the Trust to one or more dates not later than three

Interim Financing. (a) Subject HSNS has previously provided to Summus a loan of $500,000 (the availability "PRIOR LOAN") pursuant to a loan agreement dated August, 2000 (the Trust "LOAN AGREEMENT"). Under the Loan Agreement, Summus is required to provide security for repayment, in the form of moneys for such purpose and HSNS Common Stock owned by Summus, in value at least 2.5 times the provisions of Section 3(a) hereto, if the date amount of the Closing set forth in Schedule A of the Financing Agreement is more than forty five (45) days subsequent to the date of execution and delivery of the Financing Agreement by the Trust, the Trust (upon not less than ten (10) Business Days prior notice from the Borrower) agrees to provide interim financing (an “Interim Loan”) to the Borrower to pay or provide for all or any part of the eligible Costs of any Project (i) incurred by the Borrower on and after the date of execution and delivery by the Borrower of the Financing Agreement or (ii) incurred by the Borrower prior to the date of its execution and delivery of the Financing Agreement and either (x) paid by the Borrower from the proceeds of notes or other obligations issued by the Borrower in anticipation of debt under the Loan or of the issuance and sale of the Local Governmental Obligations to the Trust, or (y) paid by the Borrower from other moneys available to the Borrower under a valid declaration of official intent to reimburse such payment from the proceeds of the Loan or the Local Governmental Obligations. The Interim Loan shall be evidenced by a note (the “Interim Loan Note”) issued by the Borrower to the Trust pursuant to the Applicable Authority in form and substance satisfactory to the Trust and otherwise as hereinafter provided. The Interim Loan and the Interim Loan Note, when executed and delivered, shall be (1) a valid and binding general obligation of the Borrower enforceable in accordance with its terms and payable as to principal, premium, if any, and interest (to the extent not paid from other sources) from (a) taxes which may be levied upon all taxable property within the territorial boundaries of the Borrower, subject only to the limit imposed by Chapter 59, Section 21C of the General Laws of the Commonwealth to the extent applicable to the Interim Loan Note, provided that taxes levied on certain taxable property located within a development district, if any, established by the Borrower pursuant to Chapter 40Q of the General Laws may be restricted and unavailable to pay debt service on the Interim Loan Note or (b) sums which may be annually apportioned and assessed by the Borrower on its Participating Members pursuant to the Applicable Authority, or (2) a general or special obligation of the Borrower (as provided in any Additional Security) payable from any Additional Security, if any, and any other moneys, funds, and accounts provided in the Financing Agreement and secured by a valid pledge of and lien on and perfected security interest in any such Additional Security, all as provided therein and in Schedule B to the Financing Agreement. (b) The Interim HSNS agrees to provide to Summus, under the terms of the Loan Note shall be dated Agreement, an additional $235,000 on October 30, 2000, and every two weeks thereafter (the "INTERIM FINANCING") until the earlier of (i) the Closing Date or (ii) three months after the date of its execution this Agreement. A condition to each advance of Interim Financing by HSNS is the provision of adequate security to HSNS, in the form of HSNS Common Stock, so that the total value of security held by HSNS will be at least 2.5 times the total of the Prior Loan and delivery the amount of Interim Financing that will have been provided after that advance, plus any accrued interest. (c) The sole and exclusive remedy for failure of HSNS to make any advance of Interim Financing when scheduled shall be termination of this Agreement. Acceptance by Summus of any advance shall be deemed a waiver of any right to terminate that had previously arisen under this PARAGRAPH 4.14(C). (d) On the Closing Date, the Prior Loan and any interest thereon shall be paid by cancellation of Common Stock held as security therefor, having Market Value equal to the debt being repaid and the remaining Common Stock serving as security for the Prior Loan, provided to HSNS prior to October 30, 2000, shall be returned to Summus. (e) If the Closing occurs, the debt represented by the BorrowerInterim Financing shall be cancelled, and Common Stock held as security therefor shall mature and be payable on returned to Summus. (f) If the Closing Date for the Loan or Local Governmental Obligations does not occur within sixty (subject to renewal at the option 60) days of the Trust date of this Agreement, due to one termination of this Agreement or more dates not later than threeotherwise, the Interim Financing shall be paid by cancellation of Common Stock held as security therefor, having Market Value equal to the debt being repaid. Any remaining Common Stock held as security shall be returned to Summus.

Interim Financing. (a) Subject to the availability to the Trust of moneys for such purpose and the provisions of Section 3(a) hereto, if the date of the Closing set forth in Schedule A of the Financing Agreement is more than forty five (45) days subsequent to the date of execution and delivery of the Financing Agreement by the Trust, the Trust (upon not less than ten (10) Business Days prior notice from the Borrower) agrees to provide interim financing (an “Interim Loan”) to the Borrower to pay or provide for all or any part of the eligible Costs of any Project (i) incurred by the Borrower on and after the date of execution and delivery by the Borrower of the Financing Agreement or (ii) incurred by the Borrower prior to the date of its execution and delivery of the Financing Agreement and either (x) paid by the Borrower from the proceeds of notes or other obligations issued by the Borrower in anticipation of the Loan or of the issuance and sale of the Local Governmental Obligations to the Trust, or (y) paid by the Borrower from other moneys available to the Borrower under a valid declaration of official intent to reimburse such payment from the proceeds of the Loan or the Local Governmental Obligations. The Interim Loan shall be evidenced by a note (the “Interim Loan Note”) issued by the Borrower to the Trust pursuant to the Applicable Authority in form and substance satisfactory to the Trust and otherwise as hereinafter provided. The Interim Loan and the Interim Loan Note, when executed and delivered, shall be (1) a valid and binding general obligation of the Borrower enforceable in accordance with its terms and payable as to principal, premium, if any, principal and interest (to the extent not paid from other sources) from (a) taxes which may be levied upon all taxable property within the territorial boundaries of the Borrower, subject only to the limit imposed by Chapter 59, Section 21C of the General Laws of the Commonwealth to the extent applicable to the Interim Loan Note, provided that taxes levied on certain taxable property located within a development district, if any, established by the Borrower pursuant to Chapter 40Q of the General Laws may be restricted resticted and unavailable to pay debt service on the Interim Loan Note or (b) sums which may be annually apportioned and assessed by the Borrower on its Participating Members pursuant to the Applicable Authority, Local Governmental Obligations or (2) a general or special obligation of the Borrower (as provided in any Additional Security) payable from any Additional Security, if any, and any other moneys, funds, and accounts provided in the Financing Agreement and secured by a valid pledge of and lien on and perfected security interest in any such Additional Security, all as provided therein and in Schedule B to the Financing Agreement. (b) The Interim Loan Note shall be dated the date of its execution and delivery by the Borrower, shall mature and be payable on the Closing Date for the Loan or Local Governmental Obligations (subject to renewal at the option of the Trust to one or more dates not later than three

Interim Financing. (a) Subject Provided this Agreement has not been terminated as provided in Article 11, Broadbase agrees to lend up to an aggregate of $2,000,000 to Panopticon (the "LOAN") for the purpose of financing operating expenses incurred in the ordinary course of business, pursuant to the availability to the Trust of moneys for such purpose and the provisions of Section 3(a) hereto, if the date of the Closing terms set forth in Schedule A the form of the Financing Agreement is more than forty five (45) days subsequent convertible promissory note attached hereto as Exhibit G, and subject to the date of execution and delivery of the Financing Agreement such note by the Trust, the Trust (upon not less than ten (10) Business Days prior notice from the Borrower) agrees to provide interim financing (an “Interim Loan”) to the Borrower to pay or provide for Panopticon. Each advance of all or any part portion of the eligible Costs of any Project Loan shall be subject to the conditions that (i) incurred by the Borrower on representations and after the date warranties of execution Panopticon set forth in this Agreement shall be true and delivery by the Borrower correct as of the Financing Agreement or time of such advance (provided that this condition shall be deemed satisfied unless the cumulative effect of such inaccuracies and breaches has a Material Adverse Effect on Panopticon), (ii) incurred by the Borrower prior to the date of its execution and delivery of the Financing Agreement and either (x) paid by the Borrower from the proceeds of notes or other obligations issued by the Borrower Panopticon shall not have breached any material covenant contained in anticipation of the Loan or of the issuance and sale of the Local Governmental Obligations to the Trust, or (y) paid by the Borrower from other moneys available to the Borrower under a valid declaration of official intent to reimburse such payment from the proceeds of the Loan or the Local Governmental Obligations. The Interim Loan shall be evidenced by a note (the “Interim Loan Note”) issued by the Borrower to the Trust pursuant to the Applicable Authority in form and substance satisfactory to the Trust and otherwise as hereinafter provided. The Interim Loan and the Interim Loan Note, when executed and delivered, shall be (1) a valid and binding general obligation of the Borrower enforceable in accordance with its terms and payable as to principal, premium, if anythis Agreement, and interest (to iii) Panopticon shall have given Broadbase at least five (5) days' written notice requesting such advance and affirming that the extent not paid from other sourcesconditions described in clauses (i) from and (aii) taxes which may be levied upon all taxable property within the territorial boundaries of the Borrower, subject only to the limit imposed by Chapter 59, Section 21C of the General Laws of the Commonwealth to the extent applicable to the Interim Loan Note, provided that taxes levied on certain taxable property located within a development district, if any, established by the Borrower pursuant to Chapter 40Q of the General Laws may be restricted and unavailable to pay debt service on the Interim Loan Note or (b) sums which may be annually apportioned and assessed by the Borrower on its Participating Members pursuant to the Applicable Authority, or (2) a general or special obligation of the Borrower (as provided in any Additional Security) payable from any Additional Security, if any, and any other moneys, funds, and accounts provided in the Financing Agreement and secured by a valid pledge of and lien on and perfected security interest in any such Additional Security, all as provided therein and in Schedule B to the Financing Agreementhave been satisfied. (b) The Interim If this Agreement is terminated by Broadbase pursuant to Section 11.1(b) or the provisions specifically enumerated in Section 11.4, then all unpaid principal and accrued interest under the Loan Note shall be dated accelerated and shall become due and payable by Panopticon upon the earliest to occur of: (i) Panopticon's next equity financing of at least $5 million, (ii) an Acquisition of Panopticon, or (iii) the date that is six months after the date of its execution such termination. Panopticon may pre-pay any unpaid principal and delivery by the Borrower, shall mature and be payable on the Closing Date for accrued interest under the Loan or Local Governmental Obligations (subject upon two days' written notice to renewal Broadbase. At the election of Broadbase, the Loan may instead be converted into shares of Panopticon preferred stock issued in Panopticon's next equity financing at a conversion price equal to the option price per share of the Trust equity securities sold in such equity financing, and each party hereto will take all steps necessary or advisable to one or more dates not later than threeeffect such result.

Interim Financing. (a) Subject to the availability to the Trust of moneys for such purpose and the provisions of Section 3(a) hereto, if the date of the Closing Date set forth in Schedule A of the Financing Agreement is more than forty five (45) days subsequent to the date of execution and delivery of the Financing Agreement by the Trust, the Trust (upon not less than ten (10) Business Days prior notice from the Borrower) agrees to provide interim financing (an “Interim Loan”) to the Borrower to pay or provide for all or any part of the eligible Costs of any Project (i) incurred by the Borrower on and after the date of execution and delivery by the Borrower of the Financing Agreement or (ii) incurred by the Borrower prior to the date of its execution and delivery of the Financing Agreement and either (x) paid by the Borrower from the proceeds of notes or other obligations issued by the Borrower in anticipation of the Loan or of the issuance and sale of the Local Governmental Obligations to the Trust, or (y) paid by the Borrower from other moneys available to the Borrower under a valid declaration of official intent to reimburse such payment from the proceeds of the Loan or the Local Governmental Obligations. The Interim Loan shall be evidenced by a note (the “Interim Loan Note”) issued by the Borrower to the Trust pursuant to the Applicable Authority in form and substance satisfactory to the Trust and otherwise as hereinafter provided. The Interim Loan and the Interim Loan Note, when executed and delivered, shall be (1) a valid and binding general obligation of the Borrower enforceable in accordance with its terms and payable as to principal, premium, if any, and interest (to the extent not paid from other sources) from (a) taxes which may be levied upon all taxable property within the territorial boundaries of the Borrower, subject only to the limit imposed by Chapter 59, Section 21C of the General Laws of the Commonwealth to the extent applicable to the Interim Loan Note, provided that taxes levied on certain taxable property located within a development district, if any, established by the Borrower pursuant to Chapter 40Q of the General Laws may be restricted and unavailable to pay debt service on the Interim Loan Note or (b) sums which may be annually apportioned and assessed by the Borrower on its Participating Members pursuant to the Applicable Authority, or (2) a general or special obligation of the Borrower (as provided in any Additional Security) payable from any Additional Security, if any, and any other moneys, funds, and accounts provided in the Financing Agreement and secured by a valid pledge of and lien on and perfected security interest in any such Additional Security, all as provided therein and in Schedule B to the Financing Agreement. (b) The Interim Loan Note shall be dated the date of its execution and delivery by the Borrower, shall mature and be payable on the Closing Date for the Loan or Local Governmental Obligations (subject to renewal at the option of the Trust to one or more dates not later than three