Lending Commitment. The Lender hereby commits to lend _________________ dollars ($_________) to the Borrower (the “Commitment”). The Lender shall disburse funds under the Commitment upon receipt of a fully executed Convertible Subordinated Secured Promissory Note in the form attached hereto as Exhibit “A” (the “Note”) and a fully executed Security Agreement in the form attached hereto as Exhibit "B" (the "Security Agreement"), each of which forms a part hereof, provided such receipt occurs on or before September 30, 2011.
Lending Commitment. 2 2.4. Issuance of Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Lending Commitment. (a) At the Closing, Sykes and HPS shall each commit to make available to Newco a term loan in the amount of $9,040,800 which shall be drawn upon by Newco from time to time in increments of $100,000 (the "Loans"). The Loans shall require quarterly interest only payments with all outstanding principal and interest due three (3) years from the date hereof. Such lending commitment and loan shall be evidenced, and described in further detail, by Loan Agreements in the forms of each Exhibit C hereto (the "Loan Agreements"), and the related forms of promissory notes of Newco also included in Exhibit D hereto (the "Notes").
(b) Sykes and HPS shall each fund 50% of the total Loans. All payments by Newco of principal and interest shall be applied pro rata to the respective loans from Sykes and
Lending Commitment. On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a credit facility available as loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) on a revolving basis at any time and from time to time from the Closing Date to the Termination Date, during which period the Borrower may borrow, repay and re-borrow in accordance with the provisions hereof, provided, the unpaid principal amount of outstanding Revolving Loans shall not at any time exceed the Revolving Commitment Amount.
Lending Commitment. (a) At the Closing, SEi and HPS shall each commit to make available to Newco a term loan in the amount of $9,040,800 which shall be drawn upon by Newco from time to time in increments of $100,000 (the "Loans"). The Loans shall require quarterly interest only payments with all outstanding principal and interest due three (3) years from the date hereof. Such lending commitment and loan shall be evidenced, and described in further detail, by Loan Agreements in the forms of each Exhibit C hereto (the "Loan Agreements"), and the related forms of promissory notes of Newco also included in Exhibit D hereto (the "Notes").
Lending Commitment. 2 2.4. Issuance of Shares .......................................... 4
Lending Commitment. (a) At the Closing, Sykes and HPS shall each commit to make available to Newco a term loan in the amount of $9,040,800 which shall be drawn upon by Newco from time to time in increments of $100,000 (the "Loans"). The Loans shall require quarterly interest only payments with all outstanding principal and interest due three (3) years from the date hereof. Such lending commitment and loan shall be evidenced, and described in further detail, by Loan Agreements in forms of each Exhibit C hereto (the "Loan Agreements"). and the related forms of promissory notes of Newco also included in Exhibit D hereto (the "Notes").
(b) Sykes and HPS shall each fund 50% of the total Loans. All payments by Newco of principal and interest shall be applied pro rata to the respective loans from Sykes and HPS. Sykes and HPS further covenant among themselves that in the event action to collect the Loans becomes necessary or desirable, Sykes and HPS shall coordinate and cooperate, in good faith, to collect the Loans and shall share the net proceeds (after payment of all costs and expenses of collection, including reasonable attorneys fees) ratably so that Sykes and HPS each receive simultaneous payment of an amount that is equal to the ratio of (A) the total amount of indebtedness of Newco owned to each of them on the Loans, respectively, from time to time, and at each relevant time, to (B) the aggregate amount of indebtedness of Newco to both of them on the Loans, from time to time, and at each relevant time until the aggregate indebtedness of Newco to each of them has been paid in full. Sykes and HPS shall promptly give written notice to the other of the occurrence of "default" or "event of default" or any condition or event that, with notice or lapse of time, or both, would give such party the right to accelerate payment of any indebtedness of Newco owned to it under any agreement, instrument or document to which Newco is a party. Sykes and HPS also shall promptly give written notice to the other if it demands payment of, or takes action to collect, its Loan. Sykes and HPS covenant among themselves that they shall not amend their respective Loan Agreements or take any collateral or security for their Loans without the consent of the other, it being the intention of both that their Loan Agreement should contain identical provisions to make their Loans pari passu to the greatest extent possible. Sykes and HPS covenant among themselves to execute and deliver such other and further do...
Lending Commitment. (a) Investor commits to enter into a loan facility (the "Loan Facility") with a Subsidiary of the Company providing for principal advances of up to $50,000,000 (the "Commitment Amount"). The terms and conditions of the loan facility will parallel the terms and conditions of the Motorola Trance E Senior Secured Loan facility in a principal amount up to $200,000,000 and will rank pari passu with such facility. The terms will be consistent with the Term Sheet for Debt Financing, CLCORP01 Doc:230313_4 16 dated as of March 26, 1997, between the Company and Motorola filed as Exhibit 10.36 to the Company report on Form 10-K for the fiscal year ended December 31, 1996, as the same may be amended, from time to time, by the Company and Motorola, and this Agreement.
(b) On the date of the first borrowing pursuant to the Loan Facility, the Company will issue to Investor warrants to purchase up to 250,000 shares of Common Stock at an exercise price equal to the average closing price for a share of Common Stock on the NASDAQ-NM during the twenty (20) trading days immediately preceding the date of the first borrowing pursuant to the Loan Facility. Such warrants shall contain other customary terms and shall be exercisable from the date on which the first borrowing pursuant to the Loan Facility occurs until the fifth anniversary of such date.
Lending Commitment. Use its best efforts to obtain a firm commitment for the financing of the Obligations from another financial institution by April 30,
Lending Commitment. On the terms and subject to the conditions hereof, the Lenders agree to make a term loan in the amounts set forth on Schedule L-1 (collectively, the “Term Loan”) on the Closing Date.
