Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3): (a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on the Second Closing Date, immediately after the making of the NP Land Security Deposit. (b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, or if the CUP Agreement is Terminated pursuant to any of the aforementioned Sections as a result of the termination or expiration of the Xxxxxxxxxx Purchase Agreement or failure of the Xxxxxxxxxx Purchase to close, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination. (c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination. (d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement for any reason other than a reason set forth in Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.
Appears in 1 contract
Samples: Loan Agreement (OCM HoldCo, LLC)
Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3):
(a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on earlier to occur of the following
(i) the date that the Millennium Distribution and the Millennium Contribution are made, to the extent they are made on the Second Closing DateDate or at anytime thereafter prior to the Eighteen Month Anniversary; and
(ii) the Eighteen Month Anniversary if the Millennium Distribution and the Millennium Contribution are not made prior to the Eighteen Month Anniversary, immediately after at which time InvestCo or AcquisitionCo, as the making case may be, shall have the right to call the guarantee granted by CCR under the CCR Guarantee Agreement and to foreclose on the Collateral granted under the CCR Pledge Agreement, and pursuant to such foreclosure, CCR shall issue such number of Preferred Units to AcquisitionCo equal to the NP Land Security DepositXxxxxxxxxx Margin Number subject to the Xxxxxxxxxx Margin Limit.
(b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) ), or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, or if the CUP Agreement is Terminated pursuant to any of the aforementioned Sections as a result of the termination or expiration of the Xxxxxxxxxx Purchase Agreement or failure of the Xxxxxxxxxx Purchase to close, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination.
(c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) ), or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination.
(d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g8.1(f) of the CUP Agreement for any reason other than a reason set forth in Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.in
Appears in 1 contract
Samples: Loan Agreement (OCM HoldCo, LLC)
Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3):
(a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on the Second Closing Date, immediately after at which time the making Borrower shall exchange the Note for all of the NP Land Security Deposit.Xxxxxxxxxx Units by transferring such Xxxxxxxxxx Units to AcquisitionCo pursuant to the terms and conditions of the CUP Agreement as payment in full for all principal of the Loan;
(b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) ), or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, or if the CUP Agreement is Terminated pursuant to any of the aforementioned Sections as a result of the termination or expiration of the Xxxxxxxxxx Purchase Agreement or failure of the Xxxxxxxxxx Purchase to close, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination.
(c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) ), or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination.
(d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g8.1(f) of the CUP Agreement for any reason other than a reason set forth in Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.
Appears in 1 contract
Samples: Loan Agreement (OCM HoldCo, LLC)
Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3):
(a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on the Second Closing Date, immediately after at which time the making Borrower shall exchange the Note for all of the NP Xxxxxxx XX Land Security DepositUnits by transferring such Xxxxxxx XX Land Units to LandCo pursuant to the terms and conditions of the CUP Agreement as payment in full for all principal of the Loan.
(b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, or if the CUP Agreement is Terminated pursuant to any of the aforementioned Sections as a result of the termination or expiration of the Xxxxxxxxxx Purchase Agreement or failure of the Xxxxxxxxxx Purchase to close, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination.
(c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination.
(d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement for any reason other than a reason set forth in Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.
Appears in 1 contract
Samples: Loan Agreement (OCM HoldCo, LLC)
Maturity Dates. The then unpaid principal amount of the Loan shall be immediately due and payable on the following dates (each, a “Maturity Date”) which, if not falling on a Business Day, shall be extended to the immediately following Business Day (with interest accruing thereon pursuant to Section 2.3):
(a) If the Second Closing occurs, the then unpaid principal amount of the Loan shall be immediately due and payable on the earlier to occur of the following:
(i) the date that the Aggregate Company Esquire Cash Payment or the Company Esquire Purchase Note Payoff is made, to the extent the Aggregate Company Esquire Cash Payment or the Company Esquire Purchase Note Payoff is made on the Second Closing DateDate or at anytime thereafter prior to the Eighteen Month Anniversary, immediately after respectively; and
(ii) the making Eighteen Month Anniversary if the Aggregate Company Esquire Cash Payment or the Company Esquire Purchase Note Payoff is not made prior to the Eighteen Month Anniversary, at which time Millennium shall exchange the Note for such number of Preferred Units in CCR equal to the NP Land Security DepositMillennium Margin Number by transferring such Preferred Units to AcquisitionCo as payment in full for the Loan.
(b) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement as a result of the failure by any Selling Party to perform in any material respect any of its obligations under the CUP Agreement, or if the CUP Agreement is Terminated pursuant to any of the aforementioned Sections as a result of the termination or expiration of the Xxxxxxxxxx Purchase Agreement or failure of the Xxxxxxxxxx Purchase to close, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is six (6) months following the date of such Termination.
(c) If the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement as a result of a Voluntary Termination, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is eighteen (18) months following the date of such Voluntary Termination.
(d) If the CUP Agreement is Terminated pursuant to Section 8.1(a) or 8.1(h) of the CUP Agreement or the CUP Agreement is Terminated pursuant to Section 8.1(c), 8.1(d), 8.1(e), 8.1(f) or 8.1(g) of the CUP Agreement for any reason other than a reason set forth in Section 2.4(b) or (c) hereof, the then unpaid principal amount of the Loan shall be immediately due and payable on the date that is twelve (12) months following the date of such Termination.
Appears in 1 contract
Samples: Loan Agreement (OCM HoldCo, LLC)