Common use of MIF Loan/Grant Clause in Contracts

MIF Loan/Grant. The MIF Grant will be used by the Lender to make a loan to the Borrower of not more than $400,000.00 for the purchase of equipment, automation tooling, molds, manufacturing cells and fixtures. The Borrower’s obligations under this Agreement are expressly contingent on the Lender’s receipt of funds from the State in an amount adequate to make the Loan.

MIF Loan/Grant. The MIF Grant will be used by the Lender to make a loan to the Borrower of not more than $400,000.00 for 500,000 to assist with the purchase of equipment, automation tooling, molds, manufacturing cells and fixtures. The Borrower’s obligations under this Agreement are expressly contingent on the Lender’s receipt of funds from the State in an amount adequate to make the Loan.

MIF Loan/Grant. The MIF Grant will be used by the Lender to make a loan to the Borrower of not more than $ $400,000.00 750,000 for the purchase of equipment, automation tooling, molds, manufacturing cells and fixtures. The Borrower’s obligations under this Agreement are expressly contingent on the Lender’s receipt of funds from the State in an amount adequate to make the Loan.installation

MIF Loan/Grant. The MIF Grant will be used by the Lender to make a loan Forgivable Loan to the Borrower of not more than $400,000.00 250,000 for the purchase of machinery and equipment, automation tooling, molds, manufacturing cells and fixtures. The Borrower’s obligations under this Agreement are expressly contingent on the Lender’s receipt of funds from the State in an amount adequate to make the Forgivable Loan.