LOAN STRUCTURE. The Loan shall consist of a term loan in an original principal amount equal to $8,500,000.00. Any sums borrowed under this term loan facility, once repaid, may not be reborrowed.
LOAN STRUCTURE. This Commercial Loan Agreement (Agreement) contemplates o a single advance term Loan o a multiple advance draw Loan x a revolving multiple advance draw Loan. The principal balance will not exceed $ 5,500,000.00 . Borrower will pay down a revolving draw Loan’s outstanding Principal to $ (Pay Down Balance) (Time Period). This Loan is for o agricultural x business purposes. o Borrower may not voluntarily prepay the Loan in full at any time. x Borrower may prepay the Loan under the following terms and conditions (Any partial prepayment will not excuse any later scheduled payments until the Loan is paid in full.): None
LOAN STRUCTURE. Each Borrower acknowledges that (i) the Loan is evidenced by and made pursuant to the Note and that the Note shall be secured by the Security Instruments; (ii) the Note provides for joint and several liability of each Borrower; (iii) any nonpayment of principal or interest, whether or not resulting from one Borrower’s failure to pay any portion of the Note or any installment of principal or interest due thereunder as may be agreed among Borrowers to be payable by another one or more of the Borrowers, may result in an Event of Default under the Loan Documents and acceleration of the Loan; (iv) in that event, all proceeds of the foreclosure sale of each Borrower’s Facility may be applied to satisfy the Note; and (v) such foreclosure sale proceeds may be applied to satisfy the Note even if the value of such Borrower’s Facility is greater than the Loan Amount allocable to such Facility as agreed among the Borrowers hereunder.
LOAN STRUCTURE. 24 ARTICLE VIII THE AGENT
LOAN STRUCTURE. On the delivery date of any Aircraft or Leveraged Lease Aircraft, this Agreement may be combined with a subordinated debt or junior debt facility or a leveraged lease facility, subject to prior approval of the tax equity provider and satisfactory intercreditor and other transaction documents approved by the Agent and the Lenders and provided the Borrower submits a written request therefor to the Agent and the Lenders 45 days prior to such delivery date. The Lenders shall not unreasonably withhold approval for any recognized junior debt provider or tax equity provider of good credit standing and with recognized experience in the financing of large commercial aircraft, subject to mutual agreement on intercreditor matters. In the event the Borrower elects that one or more of the Airbus model A319-100 aircraft contemplated to be financed under this Agreement be financed by the Agent and the Lenders on a leveraged lease basis (such aircraft to be financed by the Agent and the Lenders on a leveraged lease basis, in each case, a "Leveraged Lease Aircraft" and collectively, the "Leveraged Lease Aircraft"), the Borrower agrees that (i) any event of default or similar event under any such leveraged lease facility with respect to such Leveraged Lease Aircraft shall constitute an Event of Default under the Loan Documents and (ii) to the extent there is a single tax equity provider for two or more Leveraged Lease Aircraft, it shall use its reasonable best efforts to arrange that such Leveraged Lease Aircraft are cross-collateralized.
LOAN STRUCTURE. Borrowers acknowledge and agree that they are jointly and severally liable for the Loan and for the payment and performance of all Borrowers’ obligations under the Loan Documents and that the full amount of the Loan is secured by each of the Mortgages. Any nonpayment of principal or interest on the Loan, including non-payment resulting from a Borrower’s failure to pay its Allocated Loan Amount or interest accrued thereon, may result in the entire Loan being declared in default, and all unpaid principal under the Note accelerated. In that event, all proceeds of the foreclosure sale of any one Borrower’s Property may be applied to satisfy the Note. Further, each Borrower acknowledges and understands that such foreclosure sale proceeds may be applied to satisfy the Note even if the value of such Borrower’s Property is greater than such Borrower’s Allocated Loan Amount.
LOAN STRUCTURE. The Coalition expects to address BCRLF loan and grant requests based upon the needs and timelines of the prospective borrowers. The loan structure will include, at a minimum, the following:
LOAN STRUCTURE a. Loans are available in the amounts of $1,000.00 to $10,000.00.
LOAN STRUCTURE. Borrower understands and agrees that each of the Loans represents a separate and independent financial obligation of Borrower, and that the Security is mortgaged to Lender for the repayment of each and every one of the Loans. Borrower acknowledges that a failure to repay all or part of any one or more of the Loans will result in a foreclosure or other loss of the Security, even if all of the other Loans have been repaid in full.
LOAN STRUCTURE a. Subject to the terms and conditions hereinafter set forth, the LENDER agrees to advance two million United states dollars ($2,000,000.00 USD) on four million (4,000,000) shares of Restricted 14 Class A common stock of Adatom, Inc., CUSIP #00650Q-10-5, with symbol ADTM (the "STOCK"). b. LENDER will advance funds under the Loan to the BORROWER in two payments: 1) The first loan advance for fifty percent (50%) of the Loan amount will be made within five (5) business days of the later of the delivery of the STOCK and the corollary documents, or execution of this Agreement; and 2) The second and final loan advance for the other fifty percent (50%) of the Loan amount will be made within five (5) business days of the date of the first payment. c. The BORROWER's obligation to repay the advance shall be evidenced by a promissory note(s) in the form of Exhibit A attached hereto (the "Note"). The Note(s) shall be executed by BORROWER and delivered to the LENDER via courier upon notification by the LENDER that good funds are available to advance the Loan d. To secure its obligations under the Loan, Xxxx Xxxxxx hereby grants LENDER a Security Interest in the STOCK. The STOCK shall be held by the LENDER for the duration of the Loan. e. LENDER will issue a safekeeping receipt guaranteeing the return of the STOCK upon repayment of the credit line without any liens or encumbrances. f. The credit line may be used to arbitrage cash, but, if so, an amount will be invested to insure the availability of funds to repay the credit line at all times. g. Return of the STOCK is subject to repayment of the Loan Principal and accrued interest and is forfeited if there is a Default as specified in the Note. h. In addition to the share certificate(s), the BORROWER will deliver a "blank" stock power, one for each certificate, with medallion signature guarantee, a corporate resolution, and requisite corollary documents to complete the transaction. i. All parties understand and agree that the STOCK is subject to a Rule 145 restriction and legend as well as a "hold back" restriction under a subscription agreement which is also legended on the share certificate(s). However, it has been represented that there are no other restrictions, whether legended or not, that apply to the STOCK. LENDER_______ BORROWER______
