Payment of Loan Amount Sample Clauses

Payment of Loan Amount. The Borrower/Grantee shall promptly pay the Loan Amount and Administrative Fee as provided in this Agreement, except when a Hardship Waiver is obtained pursuant to Section 5(a)(iii) of this Agreement. The Loan and Administrative Fee shall be payable solely from Pledged Revenues and nothing in this Agreement shall be construed as obligating the Borrower/Grantee to make the Loan Payments and to pay the Administrative Fee from any general or other fund of the Borrower/Grantee other than the Pledged Revenues; however, nothing in this Agreement shall be construed as prohibiting the Borrower/Grantee, in its sole and absolute discretion, from making such payments from any moneys which may be lawfully used, and which are legally available, for that purpose.
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Payment of Loan Amount. The First Tranche Loan Amount shall be transferred by the Lender to the Borrower, in one installment, as soon as practical but in any event no later than three (3) business days from the execution of this Letter Agreement (the "First Closing Date") and the Second Tranche shall be transferred by the Lender to the Borrower, in one installment, as soon as practical but in any event no later than three (3) business days from the Second Tranche Request (the "Second Closing Date"; and together with the First Closing Date, each, a “Closing Date”), by wire transfer to the Borrower's bank account as advised by the Borrower.
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Payment of Loan Amount. The Company shall repay the Loan Amount to the Lender in twenty four (24) equal monthly payments of $83,333.3 each the first of which shall be due on the first business day of the 37th month following the Closing Date. 2.1.3. Section 2.3(a) of the Loan Agreement shall be amended so that notwithstanding the provisions of said Section 2.3(a), commencing as of the Amendment Effective Date, the Interest applicable to the Loan shall be set at nine percent (9%). For the avoidance of doubt, payment of Interest shall continue unaffected under the Loan Agreement. 2.1.4. The following sub-section shall be added as a new Section 3(viii):
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Payment of Loan Amount. At the consummation of the transaction contemplated hereby ("thx Xxxxxxx"), Xxyer shall pay the Loan Amount to Seller by delivering to Seller, through the Title Company acting as escrow agent, the Note and the other Loan Documents, the Stock Certificates and the Attorney Opinion Letter (as such terms are hereinafter defined). Upon Seller's receipt of such documents, Seller shall be deemed to have made a loan (the "Loan") to Buyer in the amount of the Loan Amount, Buyer shall be deemed to have received the Loan Amount, and Buyer shall be deemed to have delivered the Loan Amount to Seller as payment of the Loan Amount portion of the Purchase Price. The Loan shall have an interest rate equal to 250 basis points above the two year U.S. Treasury Bill xxxe in effect on the day prior to the date of Closing (as published in the Wall Street Journal). The term of the Loan shall be two years, and the Loan shall provide for equal monthly payments in an amount sufficient to pay all interest due and payable on the outstanding principal balance of the Loan plus a sufficient portion of principal to fully amortize the loan over a period of ten years. The Loan Documents shall be comprised of (a) the Non-Negotiable Promissory Note (the "Note") by Buyer in favor of Seller, in the amount of the Loan Amount, in the exact form attached hereto at Exhibit B; (b) the Personal Guaranty (the "Guaranty") by Clinxxx X. Xxxxxx, Xxesident and CEO of Buyer ("Howaxx"), in favor of Seller, guarantying the obligations of Buyer under the Loan, in the exact form attached hereto at Exhibit B; (c) the Pledge Agreement (the "Pledge Agreement") by Howaxx xx favor of Seller with respect to the Collateral (as hereinafter defined), in the exact form attached hereto at Exhibit B; and (d) the Irrevocable Stock Power (the "Stock Power") by Howaxx, xx blank, in the exact form attached hereto at Exhibit B. The
Sample 1
Payment of Loan Amount. The Company shall repay the outstanding Loan Amount to the Lender in twelve (12) equal monthly installments each commencing on the first day of the 25th month following the First Closing Date.
Sample 1
Payment of Loan Amount. The Company shall use one hundred percent (100%) of any and all proceeds received from the issuance by the Company of all warrants, options or newly-issued shares of the Company’s capital stock to pay down the Loan Amount, including any and all interest accrued thereon, through such time the Loan Amount, including any and all interest accrued thereon, is paid off in full.
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Payment of Loan Amount. Loan Amount is defined as the sum of Principal Amount plus accrued but unpaid interest and/or penalty where applicable.
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Payment of Loan Amount. The outstanding Indebtedness (inclusive of the outstanding principal Loan Amount and accrued but unpaid interest and fees) shall be repaid by Borrowers to Lender, for the account of Lender, on or before January 5, 2017; provided however, that the entire outstanding Indebtedness shall be repaid in its entirety on the earliest to occur of: (a) payment by or on behalf of the Production Contract Receivables, (b) the date on which the obligations hereunder are accelerated and the outstanding Indebtedness declared immediately due and payable as a result of the occurrence of an Event of Default in accordance with the terms of Article 8, and (d) the date on which Borrower elects to exercise its right to prepay the Indebtedness pursuant to Section 2.3 hereof (such date being the “Maturity Date”).
Sample 1
Payment of Loan Amount. The Loan shall be made available by the Lenders as of the Effective Date and must be paid (i) USD 500,000 as of the Effective Date and (ii) up to an additional USD 500,000 to be paid in multiples of USD 100,000, in one or more subsequent closings, once called by Xxxxxxx and approved by the Lenders within ten (10) Business Days.
Sample 1

Related to Payment of Loan Amount

  • PAYMENT OF LOAN FEE Borrower shall pay to Lender a fee in the amount of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) (the "Loan Fee") plus all out-of-pocket expenses.

  • Payment of Loan 1. The Loan Issuing Account The borrower shall open the following loan account with the lender through which the loan issuance and payment shall be handled. Account Name: Shengfeng Logistics Group Co., Ltd Account Number: **********

  • Repayment of Loan 3.1 The Lender and the Borrowers agree and confirm that the Loan will be repaid in the following manner only: the Borrowers will transfer all of their equity interests in the Borrower Company to the Lender or any legal or natural person designated by the Lender pursuant to requirements from the Lender. 3.2 The Lender and the Borrowers agree and confirm that to the extent permitted by the laws, the Lender has the right but no obligation to purchase or designate any legal or natural person designated by it to purchase all or any part of the equity interests in the Borrower Company from the Borrowers at the price set forth under the Exclusive Purchase Option Agreement. 3.3 It is agreed and confirmed by the Parties that the Borrowers shall be deemed to have fulfilled their repayment obligations hereunder only after both of the following conditions have been satisfied. (1) The Borrowers have transferred all of their equity interests in the Borrower Company to the Lender and/or their designated person; and (2) The Borrowers have repaid to the Lender all of the transfer proceeds or an amount equivalent to the maximum amount permitted by the laws. 3.4 The Loan will be deemed as a zero interest loan if the price to transfer the equity interests in the Borrower Company to the Lender from the Borrowers concluded by the Parties under this Agreement any other related agreements is equal or less than the amount of the Loan. Under such circumstance, the Borrowers are not required to repay any remaining amount of and/or any interest upon the Loan; provided, however, that if the equity interest transfer price exceeds the amount of the Loan, the exceeding amount will be deemed as the interest upon the Loan (calculated by the highest interest permitted by the PRC laws) and financing cost thereof. 3.5 Notwithstanding anything to the contrary, if the Borrower Company goes bankruptcy, dissolution or is ordered for closure during the term or extended term of this Agreement, and Borrowers will liquidate the Borrower Company according to laws and all of the proceeds from such liquidation will be used to repay the principal, interest (calculated by the highest interest permitted by the PRC laws) and financing cost of the Loan.

  • Prepayment of Loan So long as ECOLOGY shall hold this loan, the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount . Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest, the RECIPIENT shall first contact ECOLOGY’s Revenue/Receivable Manager of the Fiscal Office.

  • Loan Amount 5. ACCOUNT NAME(S) ............................................................................................................................................................................. BANK NAME / BRANCH ..................................................................................................................................................................

  • Prepayment of Loans (a) The Borrower shall have the right at any time and from time to time up to 3:00 p.m., New York City time on any Business Day to prepay any Loan in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section; provided that interest will accrue on such amount being prepaid until the next business day if such payment is received after 3:00 p.m., New York City time. (b) The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan or an Uncommitted Swingline Loan, the Swingline Lenders or the applicable Uncommitted Swingline Lenders, as the case may be) by telephone (confirmed by electronic communication or facsimile) of any prepayment hereunder not later than 12:00 noon, New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13.

  • Repayment of Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Loans outstanding on such date.

  • Amount of Loan The Loan shall comprise the aggregate amount of Tranches disbursed by the Bank under the Credit, as confirmed by the Bank pursuant to Article 2.03.

  • Disbursement of Loan Proceeds (a) The Trustee, as the agent of the Trust, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the Trust, in a form meeting the requirements of Section 5.02(3) of the Bond Resolution. (b) The Trust and Trustee shall not be required to disburse any Loan proceeds to the Borrower under this Loan Agreement, unless: (i) the proceeds of the Trust Bonds shall be available for disbursement, as determined solely by the Trust; (ii) in accordance with the Bond Act, and the Regulations, the Borrower shall have timely applied for, shall have been awarded and, prior to or simultaneously with the Loan Closing, shall have closed a Fund Loan for a portion of the Allowable Costs (as defined in such Regulations) of the Project in an amount not in excess of the amount of Allowable Costs of the Project financed by the Loan from the Trust; (iii) the Borrower shall have on hand moneys to pay for the greater of (A) that portion of the total Costs of the Project that is not eligible to be funded from the Fund Loan or the Loan, or (B) that portion of the total Costs of the Project that exceeds the actual amounts of the loan commitments made by the State and the Trust, respectively, for the Fund Loan and the Loan; and (iv) no Event of Default nor any event that, with the passage of time or service of notice or both, would constitute an Event of Default shall have occurred and be continuing hereunder.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

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