Common use of Loan Amount Clause in Contracts

Loan Amount. Subject to the terms and conditions of this Agreement, on the Amendment No. 2 Closing Date, the Confidential portions of this document have been redacted and filed separately with the Commission. Lender shall make loans in the aggregate to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 if made directly to Borrowers; and (iii) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lender; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of payment."

Loan Amount. Subject to the terms and conditions of this Agreement, on the Amendment No. 2 date upon which all of the terms and conditions of the Documents have been met or fulfilled to the satisfaction of Lender (the "Closing Date"), the Confidential portions of this document have been redacted and filed separately with the Commission. Lender shall make loans in the aggregate to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 500,000.00 if made directly to Borrowers; and (iii) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds on demand to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lenderexcess; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of payment."and

Loan Amount. Subject to the terms and conditions of this AgreementAgreement and the other Loan Documents, and in reliance upon the representations and warranties of the Borrower set forth herein and in the other Loan Documents, each of the Lenders agrees to make a term loan in an amount of such Lender’s Loan Amount as set forth on the Amendment No. 2 Closing Date, the Confidential portions signature pages of this document have been redacted and filed separately with Agreement (the Commission“Lender’s Loan Amount”). The Lender shall make loans the loan of the Lender’s Loan Amount at a closing of the transactions contemplated by this Agreement (each a “Closing” and, collectively, the “Closings” and the date on which any Closing takes place a “Closing Date”). The Borrower may hold one or more Closings on and after the date hereof through December 31, 2019, which date may be extended for up to 180 additional days at the joint election of the Guarantor and the Placement Agent. The proceeds of the Loans shall be funded into the Escrow Account and thereafter disbursed to the Borrower for working capital and general corporate purposes and for the acquisition of income producing retail and mixed-use properties and related transactional expenses in accordance with the budget or payment schedule attached hereto as Exhibit A (the “Approved Budget”) (subject to Permitted Budget Variances). The first $2,000,000 in net proceeds from the Loans and up to 49% of the balance of the proceeds from the Loans may be used by the Borrower or the Guarantor for general corporate and working capital purposes. Thereafter, a majority of the remaining proceeds (after the first $2,000,000 in proceeds) from the Loans that are deposited in the aggregate Escrow Account cannot be used by the Borrower or the Guarantor unless the Guarantor and the board of directors of the Guarantor resolve that the use of such proceeds is for the acquisition of a specific income producing retail and mixed-use property and related transaction expenses in accordance with the Approved Budget with Permitted Budget Variances therefrom and certify the same in writing to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" Escrow Agent and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 if made directly to Borrowers; and (iii) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lender; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of paymentPlacement Agent."

Loan Amount. Subject (a) Each Loan shall be in an amount (the "Loan Amount") equal to ninety-three percent (93%) of the aggregate payments due on and after the applicable Cut-off Date (as defined below) discounted to the terms Closing Date (as defined below) at the rate of six and conditions nine-tenths percent (6.9%) (the "Interest Rate"). The Loan Amount will be set forth in a closing letter (each, a "Closing Letter") to be executed by the parties prior to the applicable Closing Date and evidenced by a promissory note in the form of this AgreementExhibit B hereto (each a "Note" and, collectively, the "Notes"). Lender shall, at the time of each Closing, withhold cash collateral (each, a "Cash Reserve" and, collectively, the "Cash Reserves") in an amount equal to three (3%) percent (the "Reserve Percentage") of the Loan Amount, which Cash Reserve will be held and applied by Lender pursuant to Section 1.4 hereof. (b) The Loan Amount assumes that the unpaid balance information set forth on the Amendment No. 2 applicable Schedule is true and correct as of the applicable Closing Date, and if such unpaid balance information proves to be inaccurate or incorrect, the Confidential portions Loan Amount will be adjusted accordingly, and Borrower or Lender, as the case may be, shall upon demand setting forth the required adjustments immediately pay the other the amount of this document have been redacted the adjustments and filed separately with Borrower shall execute a replacement note in the Commission. corrected Loan Amount. (c) On the closing of each Loan hereunder (each, a "Closing", and the date of such Closing, the "Closing Date"), Lender shall make loans in pay to Borrower the aggregate to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Loan Amount; or (B) the sum of , less: (i) the Borrowing Base from time to timeapplicable Cash Reserve, plus (ii) an amount representing all security deposits held by Borrower to secure the Overadvance from time obligations of Obligors, as described on Exhibit 1 to time (the lesser of (A) or (B) shall be referred to as the "Line of Credit"); providedeach Schedule, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 if made directly to Borrowers; and (iii) repayments from time to time of an amount representing all Payments that are payable on or after the Line of Credit shall be available to be reborrowed pursuant Cut-off Date (as defined below) but which have been collected prior to the terms and conditions of this Agreement; Closing Date, as described on Exhibit 1 to each Schedule, and (iv) if an amount representing all sales and use taxes and personal property taxes covering the Revolving Equipment (collectively, "Taxes") which (unless payable by the Obligor under the Transaction Documents) should have been paid by Borrower prior to the Closing. In the event it is subsequently determined that additional Taxes which are payable prior to the Closing are payable, Borrower shall promptly remit to Lender such additional amounts. Borrower's obligations under this Section shall survive the consummation of the transactions contemplated by this Agreement. (d) Lender shall pay to Borrower, upon the satisfaction in full of all amounts due and payable under all Loans outstanding at any time or hereunder, interest on all security deposits deducted from time to time exceeds the advance limitations described Loan Amount under Section 1.2(c)(ii) above, Borrowers such interest to accrue at the Interest Rate for such time as such security deposits are held by Lender hereunder. (e) Each Loan shall pay be repaid with interest at the Interest Rate over a term of 60 months in immediately available funds accordance with the amortization schedule annexed to the Lender relevant Note (the "Amortization Schedule"). All payments shall be due on the 15th day of each month or, if such amount necessary day is not a business day, the next succeeding business day (each a "Payment Date"). On each Payment Date, all Payments made with respect to eliminate the Transactions to which such excess contemporaneously Loan relates that have been collected in the Lockbox Account (as defined in the Servicing Agreement), together with such additional funds advanced by Servicer (as defined below) or Borrower as required to make the delivery of any borrowing base certificate full payment to Lender showing shall be paid to Lender by wire transfer. To the extent any such excess and/or demand by Lender at any other time any such excess occurs Transactions are repurchased or prepaid as determined by Lender; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such eventprovided hereunder, the Lender may, in its sole discretion, immediately cease to make Revolving Loans; and (b) Borrowers Amortization Schedule shall repay to the Lender on the Termination Date all Revolving Loans, plus interest accrued to the date of paymentbe adjusted accordingly."

Loan Amount. Subject a) The Lender hereby agrees to make available to the Borrower and the Borrower hereby agrees to avail from the Lender, the loans from time to time for purchase of any one or more of the Car(s) on the terms and conditions of this Agreement, on the Amendment No. 2 Closing Date, the Confidential portions of this document have been redacted as stipulated in these presents and filed separately with the Commission. Lender shall make loans in the aggregate subject to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively 'Loan to Value' ratio of the "Revolving Loans") from time to time in such amounts Lender as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base per Lender's internal policies, from time to time, plus (ii) the Overadvance from time to time (the lesser of (A) or (B) . Each such loan shall be referred to as “Loan” and collectively as “Loans”. This facility being extended to the "Line Borrower to avail of Credit"); provided, however, that (i) Eligible Inventory shall be valued at Loans hereunder is hereinafter referred to the lower of cost or market value using the first in, first out method of inventory accounting; and (ii) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and (b) $1,000.00 if made directly to Borrowers; and (iii) repayments from time to time of the Line of Credit “Facility”. The Facility shall be available to be reborrowed pursuant for draw-down by way of one or more Loans in one or more tranches, subject to the terms and Borrower complying with, fulfilling each of the conditions of this Agreement; and precedent as mentioned in Article 3 hereunder (iv) if the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay in immediately available funds to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand extent not expressly waived by Lender at any other time any such excess occurs as determined by Lender; and (v) the Lender's commitment to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in writing). b) The Borrower may request for the grant of each Loan by executing a Schedule attached hereto (each such executed Schedules shall be referred to as “Loan Schedule”). The Lender may at its sole discretion, immediately cease upon receipt of a Loan Schedule, disburse all or part of the relevant Loan amount mentioned therein. Each such Loan/disbursement shall be governed by this Agreement read with the relevant Loan Schedule and the Sanction Letter, and each such Loan, the relevant Loan Schedule and the Sanction Letter shall always be deemed to make Revolving Loans; have been covered under and (bwithin the scope of this Agreement without any further deed, writing or act. c) Borrowers The expression 'Loan' wherever used in this Agreement shall repay mean each of the Loans and 'Schedule' or 'Schedule hereto' shall mean each of the relevant Loan Schedules, unless expressly mentioned otherwise, and the provisions of this Agreement shall be construed accordingly. d) The purpose for which the Borrower shall use the Car may be as mentioned in the relevant Loan Schedule. e) Once the Application Form submitted by the Borrower is accepted by RCFL, cancellation of the Loan by the Borrower or not taking the disbursement thereunder, shall be subject to payment by the Borrower to RCFL of such cancellation or foreclosure charges as may be stipulated by RCFL together with Taxes thereon, if any. The Borrower also acknowledges that, the processing fee for the Loan shall not be refunded by the Lender on including in the Termination Date all Revolving Loans, plus interest accrued event of any such cancellation and non-disbursal. f) The Borrower shall be solely liable to bear any increase in the date price of paymentthe Car and/or cost of insuring/ registering the Car."

Loan Amount. Subject to the terms and conditions of this Agreement, on the Amendment No. 2 Closing Date, the Confidential portions of this document have been redacted and filed separately with the Commission. Lender shall agrees: (A) to make loans in the aggregate to the Borrowers Borrower on a revolving basis (such loans being herein called individually a "“Revolving Loan" ” and collectively the "“Revolving Loans"”) from time to time in such amounts as the Borrowers Borrower may from time to time request plus have outstanding Approvals from time to time up to the lesser of (Ai) the Maximum Credit Amount; or (B) the sum of (iii) the Borrowing Base from time to time, plus (ii) the Overadvance from time to time (the lesser of (Ai) or (Bii) shall be referred to as the "“Line of Credit")”) at any time; provided, however, that (i1) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; and (ii2) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement5,000.00; and (b) $1,000.00 if made directly to Borrowers; and (iii3) repayments from time to time of the Line of Credit shall be available to be reborrowed pursuant to the terms and conditions of this Agreement; and (iv4) if the Revolving Loans plus outstanding Approvals outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers Borrower shall pay (I) within three (3) Business Days if Lender modifies the Borrowing Base and/or what constitutes Eligible Accounts Receivable, Eligible Inventory and/or Eligible Vendor Repurchase Inventory in immediately available funds a manner that reduces Borrower’s availability under the Borrowing Base; or (II) in all circumstances other than described in subclause (I) of this clause (4) on demand to the Lender such amount necessary to eliminate such excess contemporaneously with the delivery of any borrowing base certificate to Lender showing any such excess and/or demand by Lender at any other time any such excess occurs as determined by Lenderexcess; and (v5) the Lender's ’s commitment to make Revolving Loans and issue Approvals shall remain in effect for a period to and including the Termination Date; and (vi6) notwithstanding anything else contained in this Agreement, (aI) subject to the proviso at the end of this subclause (I), upon the occurrence and continuance of any Event of Default or any event which would, with the giving of notice, the passage of time, or both, result in an Event of Default, and in every such event, the Lender may, in its sole commercially reasonable discretion, immediately cease to make Revolving LoansLoans and issue Approvals; provided, further, that so long as the only Event of Default that exists or would exist with the giving of notice, the passage of time, or both, is the Event of Default set forth in Section 7.1(M) of this Agreement, for a period of thirty (30) days commencing with any Insecurity Date, Lender shall, subject to the terms and provisions of this Agreement, continue to make Revolving Loans and issue Approvals in an amount not to exceed the lesser of (x) the amount of all Revolving Loans plus outstanding Approvals on such Insecurity Date; or (y) the Borrowing Base; and (bII) Borrowers Borrower shall repay to the Lender on the Termination Date all Revolving Loans, plus the amount of all outstanding Approvals, plus interest accrued to the date of payment."

Loan Amount. Subject to the terms and conditions hereof, Lender agrees, for so long as no default or event of default under this Agreementagreement exists, on the Amendment No. 2 Closing Dateto make loans (each a “Loan”, and collectively, the Confidential portions of this document have been redacted and filed separately with the Commission. Lender shall make loans in the aggregate “Loans”) to the Borrowers on a revolving basis (such loans being herein called individually a "Revolving Loan" and collectively the "Revolving Loans") from time to time in such amounts as the Borrowers may from time to time request up to the lesser of (A) the Maximum Credit Amount; or (B) the sum of (i) the Borrowing Base Borrower from time to time, plus on any banking day during the availability period described in Section 1.3 below, provided that no such Loan shall be made unless each of the following conditions shall have been satisfied, each of which shall be in form and substance satisfactory to Lender and shall be in addition to the conditions set forth in Section 4.2: (a) Lender shall have received a request for loan from Borrower, in form and substance satisfactory to Lender, no later than, unless otherwise consented to by Lender, three banking days prior to date of the requested Loan, which request shall include, without limitation, (i) the date and amount of such requested Loan, (ii) the Overadvance from time to time manner in which the loan proceeds shall be disbursed, (the lesser of iii) a certification that (A) no default or event of default has occurred and is continuing under this Agreement, (B) shall be referred to as the "Line of Credit"); provided, however, that (i) Eligible Inventory shall be valued at the lower of cost or market value using the first in, first out method of inventory accounting; representations and warranties contained in this Agreement and any other document executed in connection herewith are true and correct and (iiC) each borrowing by any Borrower hereunder with respect to any Revolving Loan shall be the condition described in the aggregate principal amount of at least (a) $1,000.00 if made directly to a vendor of Inventory subject to a Vendor Repurchase Agreement; and clause (b) $1,000.00 if made directly to Borrowers; and (iii) repayments from time to time below has been satisfied, in each case as of the Line of Credit shall be available to be reborrowed pursuant to date of, and after giving effect to, the terms and conditions of this Agreement; requested Loan, and (iv) if such evidence as Lender may require, demonstrating that such Loan has been approved by the Revolving Loans outstanding at any time or from time to time exceeds the advance limitations described above, Borrowers shall pay board of managers of Borrower in immediately available funds to the Lender such amount necessary to eliminate such excess contemporaneously accordance with the delivery DCE Operating Agreement. (b) After giving effect to such Loan, the aggregate initial principal amount of all Loans made as of such date, including, without limitation, Loans related to issuance of Letters of Credit as described in Section 1.2, minus the amount of any borrowing base certificate reserves established pursuant to Section 1.2(b) shall not exceed $14,000,000. (c) Lender showing any shall have received evidence from Borrower, in form and substance satisfactory to Lender, that Borrower will use the proceeds of each requested Loan for capital improvements identified on Schedule 1.1, prior expenditures for the drilling and installation of gas collection xxxxx, or such excess and/or demand by other capital expenditures as Lender at any other time any such excess occurs as determined by Lender; and (v) the Lender's commitment may consent to make Revolving Loans shall remain in effect for a period to and including the Termination Date; and (vi) notwithstanding anything else contained in this Agreement, (a) upon the occurrence and continuance of any Event of Default, and in every such event, the Lender may, in its sole discretion. (d) Lender shall have received, immediately cease in form and substance satisfactory to make Revolving Loans; Lender, evidence of insurance covering any equipment Borrower proposes to purchase with the proceeds of each Loan. (e) Borrower shall have delivered or caused to be delivered to Lender any and (b) Borrowers shall repay to all other documents, agreements and instruments deemed necessary by Lender in connection with the Lender on the Termination Date all Revolving Loansmaking of such Loan including, plus interest accrued to without limitation, certificates of title, if any, for equipment, if required by Lender. On the date hereof, Borrower shall have been deemed to have requested, and Lender shall have been deemed to have made, a Loan hereunder in the principal amount of payment$714,370.44 in order to fund the media capital expenditures identified on Schedule 1.1. Amounts borrowed under this Section 1.1 and repaid or prepaid may not be reborrowed."