Interim Loans Sample Clauses

Interim Loans. 29 7.6. Internal Revenue Code Section 704(b) Book Allocations for Tax Purposes.......................................... 30 7.7.

Interim Loans. Distributions under this Section 7.5 may be made, as provided herein, to both Partners of an Affiliated Partner Group at any time. Each Affiliated Partner Group shall be entitled to receive distributions hereunder not more than once during each calendar quarter provided additional distributions can be made with the consent of the General Partner of the other Affiliated Partner Group, which consent shall be granted or withheld in the sole discretion of such other General Partner. Any time the Partnership's cash (excluding cash in the capital fund and any other cash held for a specific project) is greater than the Cash Balance Amount, by written notice to the Partnership both Partners of an Affiliated Partner Group shall be entitled to borrow from the Partnership and the Partnership shall promptly advance to such Partners, their respective Participation Percentages of the Partnership's cash in excess of the Cash Balance Amount. The "Cash Balance Amount" shall initially be $20 million, which amount may be changed from time to time by Unanimous Partnership Governance Committee Action. Any advance hereunder shall (subject to Section 12.11) bear interest at the same rate payable by the Partnership on its working capital facility or if the Partnership has no such facility then at the Agreed Rate. Any advance hereunder shall be repaid by withholding from all distributions otherwise payable to the Partner the amount of the advance plus interest thereon. Amounts withheld shall first be applied to interest and thereafter to principal. Each loan shall have a term of 90 days so that if the amount of the loan plus interest thereon is not repaid from distributions otherwise payable to the Partner within 90 days of the loan, then the Partner shall be required to repay the loan with other funds.

Interim Loans. Subject to the terms and conditions hereof, and relying on the representations, covenants, and warranties of the Borrower contained herein, Lender agrees to make Interim Loans to the Borrower and to advance to the Borrower monies so lent in a non-revolving line of credit of up to TWENTY FIVE MILLION DOLLARS ($25,000,000.00) to finance part of the Total Project Costs from time to time during the period commencing on the date of this Agreement to and including the Completion Date.

Interim Loans. Subject to the terms and conditions set forth herein, each Lender agrees severally, and not jointly, to make senior interim bridge loans to the Borrower in Dollars in an amount not to exceed its Commitment on the Funding Date; provided that (i) all such Interim Loans shall be incurred by the Borrower pursuant to one drawing on the Funding Date and (ii) any Interim Loan that is repaid may not be reborrowed.

Interim Loans. Explore agrees to make loan advances to XXXX.XXX during the period from the date of this Agreement to the Closing Date from the proceeds of the private placement contemplated in Section 7.03(5) of this Agreement on the following terms and subject to the following conditions: (a) all advances will accrue interest at a rate equal to 10% per annum until paid in full. Interest will be paid on all unpaid interest. All interest will be compounded monthly; (b) each advance will be evidenced by a promissory note executed by XXXX.XXX, which promissory note will be delivered to Explore prior to the date of the advance; (c) all advances will be secured by a first priority general security agreement granted by XXXX.XXX against all property and assets of XXXX.XXX. XXXX.XXX will execute all documentation required in order to perfect Explore's security prior to any advance; (d) all advances will be applied to the development of the XXXX.XXX Business in accordance with the pro forma statement of cash flows attached as Schedule 8.01 to this Agreement, provided that no advances will be applied to the items denoted "Acquisition of CashSurfers" and "Acquisition Cost - Sellers" on the pro forma statement. Advances will be made on the following schedule: a. $1,060,000 within three days of the closing of the private placement referred to Section 7.03(5) or as soon as funds are in the Explore treasury, whichever is sooner; b. $450,000 on the date which is forty five (45) days from the date of this Agreement; c. $350,000 on the date which is seventy five (75) days from the date of this Agreement; (e) all advances to XXXX.XXX will remain outstanding in the event of termination of this Agreement for any reason and will be evidenced by the promissory notes executed by XXXX.XXX in favor of Explore, each of which will survive termination and continue as an enforceable obligation of XXXX.XXX.

Interim Loans. (a) Subject to Clause 4.1, the obligations of each Interim Lender to participate in an Interim Loan during the Availability Period are only subject to the conditions precedent that on the date of the Utilisation Request and on the proposed Utilisation Date: (i) no Major Default is continuing or would result from the proposed Interim Loan; (ii) the Major Representations are true in all material respects (or, to the extent already qualified as to materiality, all respects); (iii) the Interim Facility Agent and the other Interim Finance Parties have received all fees and expenses payable by the Borrower in respect of the Interim Facility as contemplated by the Interim Documents to the extent then due and payable except, in the case of the initial Utilisation, to the extent payable out of the proceeds of such Utilisation; (iv) the Incremental Loans are not available to be drawn in an amount equal to the undrawn Interim Facility Commitment and at the time required for the purposes specified in Clause 3(a) (Purpose); and (v) in relation to a proposed Utilisation, the Borrower has certified in writing to the Interim Facility Agent that such of the requirements referred to in paragraphs (i) to (iv) of this paragraph (a) as are relevant to that Utilisation have been and remain satisfied. (b) Save in circumstances where, pursuant to paragraph (a) above, an Interim Lender is not obliged to participate in an Interim Loan, and subject as provided in Clause 8.1 (Illegality), during the Availability Period each Interim Lender shall participate in Interim Loans and no Interim Lender or other Interim Finance Party may: (i) cancel any of its Interim Facility Commitments; (ii) rescind, terminate or cancel this letter, another Interim Document or the Interim Facility or exercise any similar right or remedy or make or enforce any claim that it may have under the Interim Documents to the extent that to do so would prevent, delay or limit the making of any Interim Loan or prevent any Interim Loan from remaining outstanding or otherwise give rise to an Event of Default; (iii) declare any Interim Loan due and payable or due and payable on demand or require repayment or prepayment; (iv) prevent or limit the making of an Interim Loan whether by cancellation, termination or rescission; (v) refuse to participate in the making of an Interim Loan; (vi) exercise any right of set off or counterclaim or any similar right or remedy in respect of an Interim Loan to the extent that to do so w...

Interim Loans. The Initial Interim Loan and any other loan or line of credit having a maturity date not later than one year from the initial advance thereunder (or such longer term as the Agent may approve in its sole discretion), made by the Borrower to a Mortgage Loan Obligor to provide interim financing pending the issuance and sale of Bonds by such Mortgage Loan Obligor, which loan or line of credit is to be repaid and retired with net proceeds from the sale of such Bonds and which is secured by a First Mortgage Indenture (or, in the case of the Initial Interim Loan, which is secured by the pledge of Bonds registered in the name of the Mortgage Loan Obligor and issued under an indenture secured by a first priority Mortgage for the benefit of all holders of Bonds issued under such indenture).

Interim Loans. To the extent that any of the Group Companies is in need of liquidity as a result of the termination of the Cash Management prior to Closing, Sellers shall ensure that interim loans or interim deposits at arm’s length terms are provided to such Group Companies by other Group Companies, or third parties or Sellers’ Affiliates (in each case, in accordance with the terms of this Agreement).

Interim Loans. Upon execution of this Agreement, the Company shall loan to LVA $50,000 under the terms of a Security Agreement and Promissory Note attached hereto as Exhibit 7.01. On or before March 1, 1998 the Company and/or its President, Jehu Hand, will apply for and/or guarantee a loan from an outside party in the amount of $100,000 to LVA.

Interim Loans. Subject to the terms and conditions hereof, each Lender severally agrees to make an interim loan in Dollars (an “Interim Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Interim Loan Exposure of such Lender. The Interim Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 3.