Parent Loans. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Borrower shall ensure that no other Group Member will):
Parent Loans. Immediately prior to the Closing, Parent shall make the Parent Funded Debt Loan and the Parent Merger Loan to Benchmark and in connection therewith Benchmark shall issue promissory notes to Parent substantially in the form attached hereto as Exhibit 5.
Parent Loans. Benchmark shall have received the proceeds from the Parent Funded Debt Loan and the Parent Merger Loan.
Parent Loans. Any and all unsecured loans made by the Parent to the Borrower prior to the date of the first Loans under this Agreement up to an aggregate principal amount outstanding at any time not exceeding $47,000,000.
Parent Loans. On or before the Closing Date, the Buyer shall have a positive stockholders equity or capital of not less than United States One Thousand Dollars (USD $1,000.00). In addition, the Parent shall cancel any outstanding loans and advances made by the Parent to the Buyer prior to the date of this Agreement (the “Parent Loans”).
Parent Loans. If permitted under Hungarian law, on or before the Closing Date, the Parent shall eliminate the stockholder deficit in the Buyer by exchanging the total outstanding amount of all loans and advances made by the Parent to the Buyer prior to the date of this Agreement (the “Parent Loans”) for an amount of preferred or preference shares of the Buyer (the “Buyer Preference Shares”) set forth below, so that as at the Closing Date, the Buyer shall have either a positive stockholders equity or capital of not less than United States One Thousand Dollars (USD $1,000.00). If the issuance of Buyer Preference Shares is not permitted under Hungarian law, on the Closing Date, the Parent shall eliminate the stockholder deficit in the Buyer by cancelling all Parent Loans, so that as at the Closing Date, the Buyer shall have either a positive stockholders equity or capital of not less than United States One Thousand Dollars (USD $1,000.00).
Parent Loans. The obligation of the Subsidiary to make Parent Loans is subject to the conditions precedent that: (a) no Parent Default, or Unmatured Parent Default, has occurred and is continuing or will result from the making of such Parent Loan, (b) the warranties of the Parent contained in Section 6 are true and correct as of the date of such requested Parent Loan, with the same effect as though made on the date of such Parent Loan and (c) the Subsidiary continues to be a direct or indirect subsidiary of the Parent.
Parent Loans. Following the execution of this Agreement but prior to the earlier of the Closing or the termination of the Agreement in accordance with Section 9, Parent may loan the Seller funds for operating expenses incurred following the date of this Agreement in accordance with a secured promissory note in a form satisfactory to Parent. Any cash loaned by Parent or Buyer to Seller retained by Seller on the Closing Date shall be repaid to Parent or Buyer on the Closing Date.
Parent Loans. 47 SECTION 6.20. Noncompetition and Non-Hire Agreements.........................47
Parent Loans. (a) If this Agreement has not been terminated and the Merger has not been consummated by May 31, 2000, Parent shall, if requested in writing by the Company, provide a loan to the Company in a principal amount not to exceed $5,000,000.
