Loan Advance. Lender agrees, on the terms and conditions set forth herein, to advance to Borrower, in a single advance, $4,550,000.00 (the “Advance”). The Advance shall be disbursed for the account of Borrower in accordance with an executed request therefor in substantially the form attached hereto as Exhibit A (“Request for Advance”).
Loan Advance. Subject to and upon the fulfilment of the conditions precedent contained in paragraph 7 of this Agreement, as the case may be, the Lender will advance the principal amount of the Loan to the Borrower or as the Borrower may otherwise direct.
Loan Advance. 2.1 The loan advance by Comtech to the Group Company set out in the table below: ADVANCE BY AMOUNT DATE USD COMTECH 2,500,000 no later than 15 May 2005 COMTECH 1,500,000 1 August 2005 --------- 4,000,000 (Note) NOTE: (1) COMTECH CAN PAY OTHER CURRENCIES EQUIVALENT TO USD4M AS LOAN ADVANCE TO THE GROUP COMPANY.
Loan Advance. The Loan, if made by more than one (1) Lender, shall be made by deposit by each Lender of such portion thereof required hereunder with the Agent in accordance with the provisions hereof and the Agent shall upon receipt of such rateable shares of the Loan, remit the Loan to the Borrower, provided that the failure of any Lender to make its rateable portion of the Loan shall not relieve any other Lender of its obligation to make its rateable portion of the Loan and provided further that the Original Lender shall make up any shortfall or failure to Advance by any other Lender such that the full Principal Sum shall be made available to the Borrower by the Original Lender.
Loan Advance. Concurrently with the execution hereof, or on or prior to the first date on which Xxxxxx is to advance the Loan hereunder, if requested by Xxxxxx, Borrower shall cause to be provided to Lender the following:
(1) A Guaranty, in form and substance acceptable to Lender in its sole discretion, (hereinafter referred to as the “Guaranty”) duly executed by or on behalf of the Lender-approved guarantor(s) (hereinafter referred to as “Guarantor”);
(2) Borrower shall cause to be provided to Lender (i) a Promissory Note in the amount of the Loan Amount, duly executed on behalf of Borrower, pursuant to Section 1 hereof, (ii) a Collateral Schedule describing the Collateral, (iii) a Collateral Assignment of Colocation Mining Services Agreement, duly executed by Borrower and acknowledged by Coinmint, LLC, (iv) a contribution or similar agreement, in form and substance acceptable to Lender in its sole discretion, duly executed by the Borrower and Guarantor, relating to the contribution of the Collateral from, and assignment of the Colocation Mining Services Agreement to, the Guarantor to the Borrower and (v) if requested by Xxxxxx, copies of the invoice(s), documentation and other evidence reasonably satisfactory to Lender and its counsel related to the acquisition cost of the Collateral; and
(3) Such filings shall have been made and other actions taken as reasonably may be required by Xxxxxx and its counsel to perfect a valid, first priority security interest granted by Xxxxxxxx to Lender with respect to the Collateral.
Loan Advance. Under the terms of the Odyssey Cargo Insurance Policy, as the silver is salvaged from the wrecks, 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.), and the estimated value of the cargo (the “Cargo Reports”). Borrower has delivered to the Odyssey Cargo Insurer, the Cargo Report of current silver inventory, attached hereto as Exhibit “A” (the “Silver Inventory”), and hereby confirms that all Silver Inventory listed in the Cargo Report has been delivered for processing and has a value of not less than $25,000,000, and therefor meets the Lender’s requirements for releasing the proceeds of the Loan.
Loan Advance. (a) Subject to and upon the terms and conditions set forth in this Agreement, Lender shall make each Advance to Borrower on the Financial Closing Date and Additional Advance Date, as applicable, by deposit of Advance proceeds to one or more accounts of a bank located in New York designated by Borrower. Borrower shall notify Lender in writing prior to the Financial Closing Date and Additional Advance Date, as applicable, of the account(s) (and, if there are multiple accounts, the amounts to be deposited into such accounts) into which the Loan proceeds shall be deposited.
(b) Borrower may request that Lender deposit Advance proceeds into an account of Sponsor by delivering to Lender an Advance Request executed by Borrower and Sponsor pursuant to which (i) Borrower certifies to Lender that such request is made to facilitate Borrower’s distribution of such proceeds to Sponsor as authorized pursuant to the resolutions delivered to Lender under Section 3.1(h)(iv)(B), (ii) Borrower agrees to deliver to Lender on the Business Day after Sponsor’s receipt of such proceeds a receipt confirming receipt of such proceeds on behalf of Borrower, and (iii) Borrower and Sponsor acknowledge and agree that any such deposit of Advance proceeds into an account of Sponsor constitutes for all purposes Lender’s delivery of Advance proceeds to Borrower and a transfer of such proceeds by and from Borrower to Sponsor.
Loan Advance. (a) Initial Loan Amount and Additional Loan Amount. CEPI shall make available to Dynavax an interest-free, forgivable, unsecured loan for up to a sum equivalent to the manufacturing cost of the Initial Reserved Material, and, if applicable, the Additional Reserved Material (in each case, the “Manufacturing Cost”), based on a Manufacturing Cost per kilogram of Dynavax Material of [***], which shall be advanced by CEPI to Dynavax in two installments, upon receipt of a written loan drawdown notice in the form attached hereto as Exhibit C (a “Loan Drawdown Notice”) for each such installment, as follows: Quantity Total Manufacturing Cost First Installment ([***]) Due Date for First Installment Second Installment ([***])* Due Date for Second Installment* Initial Reserved Material ([***]) [***] [***] [***] [***] [****] Additional Reserved Material ([***]) [***] [***] [***] [****] [****] * The second installment of the Manufacturing Cost shall be payable on a kilogram-by-kilogram basis, based on [***] of the Manufacturing Cost per kilogram (i.e., [***]), upon the applicable Release Date for a particular quantity of Dynavax Material, written notice of which shall be provided by Dynavax to CEPI.
Loan Advance. Notwithstanding any other provision of this Agreement or any of the other Loan Documents and without affecting in any manner the rights of Lender under other Sections of this Agreement, it is understood and agreed that the establishment of the DIP Facility and any obligation of Lender to make the Loans is subject to the satisfaction of the following conditions:
(a) the DIP Order, in form and substance satisfactory to Lender, shall have been entered by the Bankruptcy Court, shall be in full force and effect and shall not have been vacated, reversed, modified, appealed stayed or subject to any motion to reconsider in any respect;
(b) all requisite corporate action and proceedings in connection with this Agreement and the other Loan Documents shall be satisfactory in form and substance to Lender, and Lender shall have received all information and copies of all documents, including records of requisite corporate action and proceedings which Lender may have requested in connection therewith, which such documents shall, if requested by Lender or its counsel, be certified by appropriate corporate officers;
(c) the representations and warranties contained in this Agreement and in each of the other Loan Documents shall be true, in all material respects, on and as of the date of the signing of this Agreement and on the date of each extension of credit or the making of any Loans pursuant to this Agreement, with the same effect as though such representations and warranties had been made on and as of each such date, and on each such date, no Event of Default, and no condition, event or act which with the giving of notice or the passage of time or both would constitute an Event of Default, shall have occurred and be continuing or shall exist; it being understood that a dispute as to existence of an Event of Default pursuant to Section 9.1(r) (prior to determination of such dispute by the Bankruptcy Court) shall not constitute a failure of a condition precedent to the making of further Advances;
(d) there shall be no Material Adverse Effect, as determined by Lender in its discretion, in the financial condition or business of Borrower nor any material decline, as determined by Lender in its discretion, in the market value of any Collateral or a substantial or material portion of the assets of Borrower, and no change or event shall have occurred which would impair the ability of the Borrower to perform its obligations hereunder or under any of the other Loan Documents to w...
Loan Advance. On and subject to the terms and conditions hereof, the Lender hereby agrees to lend to the Borrower the amount of $400,000 (the "Advance") to be advanced against receipt of a Promissory Note in form attached hereto as Schedule A from the Borrower in respect of such advance upon satisfaction of the conditions set out in section 5 below.
