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Common use of Prior Performance Clause in Contracts

Prior Performance. Although Lender shall have no obligation to make any Advance unless and until all of the requirements and conditions precedent set forth herein have been satisfied, Lender, at its sole discretion, may make any Advance prior to that time without waiving or releasing any of the requirements or conditions precedent of this Agreement; Borrower shall continue to be strictly obligated to perform, and shall be subject to, all such requirements and conditions notwithstanding any such disbursement.

Appears in 3 contracts

Samples: Loan Agreement (Star Buffet Inc), Loan Agreement (Star Buffet Inc), Loan Agreement (Star Buffet Inc)

Prior Performance. Although Lender shall have no obligation to make any Advance unless and until all of the requirements and conditions precedent set forth herein have been satisfied, Lender, at its sole discretion, may make any Advance Advances prior to that time without waiving or releasing any of the requirements or conditions precedent of this Agreement; Borrower shall continue to be strictly obligated to perform, and shall be subject to, all such requirements and conditions notwithstanding any such disbursementAdvance, and Lender, at its sole discretion, may discontinue any further Advances, at any time until all of the requirements and conditions precedent have been strictly performed and satisfied.

Appears in 1 contract

Samples: Loan Agreement (Global Aircraft Solutions, Inc.)