Project Loans Sample Clauses

Project Loans. Subject to the terms and conditions set forth in this Agreement, each Bank severally agrees to make loans to the Borrowers pursuant to this subsection (b) from time to time during the period from and including the Closing Date to but excluding the Final Maturity Date; provided that, immediately after each such loan is made, such Bank's Revolving Credit Exposure shall not exceed its Revolving Credit Commitment. Each Borrowing under this subsection (b) shall be made from the several Banks ratably in proportion to their respective Revolving Credit Commitments.
Sample 1
Project Loans. The Company may enter into agreement(s) with third party lenders(s) for loan(s) (the "Loan" or "Loans") to finance the construction of the Improvements and development and operation of the Project, if the amount and terms of any such Loan are approved by the unanimous consent of the Directors. Xxxxxx'x agrees to individually guarantee up to Sixty Million Dollars ($60,000,000.00) in Loans on behalf of the Company ("Xxxxxx'x Guarantee"). However, after the Xxxxxx'x Guarantee has been retired, refinanced, or released, Xxxxxx'x shall have no further obligation to incur or guarantee debt on behalf of the Company. Xxxxxx'x represents and warrants that the Loans will not contain any covenants or conditions enabling the lender to hold the Company in default by virtue of any act or omission of Xxxxxx'x in its capacity solely as guarantor including, without limitation, any violation of a financial covenant which results in an acceleration of the Loan. If the Company is unable to obtain the Loans within six (6) months of the Effective Date, then this Agreement shall terminate, the Company shall be dissolved and each Stockholder shall be responsible for its own predevelopment and construction costs, except for those out of pocket expenses that uniquely benefit the Company, including but not limited to, the preparation and drafting of organizational and development documents, financing fees, and loan commitment costs. Payment of such expenses shall be shared in proportion to the Stockholder's Percentage Interest. Notwithstanding anything contained herein to the contrary,
Sample 1
Project Loans. Subject to the terms and conditions set forth in this Agreement, each Bank severally agrees to make loans to Vencor pursuant to this subsection, from time to time during the period from and including the Amendment Effective Date to but excluding the Termination Date, for the purpose of financing capital expansion projects or refinancing Debt that was incurred to finance such projects; provided that, immediately after each such loan is made (and after giving effect to any substantially concurrent application of the proceeds thereof to repay outstanding Loans and Swingline Loans): (i) such Bank's Outstanding Committed Amount shall not exceed its Commitment; and (ii) the Total Usage shall not exceed the Total Commitments.
Sample 1
Project Loans. To the best of Borrower’s knowledge, no default or event of default has occurred with respect to any of the Project Loans except as to those Project Loans disclosed to Lender prior to the date hereof including, without limitation, the Project Loans identified at Schedule 3 (6) and Schedule 3 (7) hereto.
Sample 1
Project Loans. The Project Loans may only be used to fund: (a) Project Costs (other than VAT Payments) payable during the Withdrawal Availability Period; (b) any transfer to the Debt Service Reserve Account required or permitted under the Accounts Agreements; and (c) any other purpose approved by the Senior Agent.
Sample 1
Project Loans. (a) The parties contemplate that there will be a series of Project Loans comprising the Loan (with a Project Loan for each Project); provided, however, no Lender shall have an obligation to make advances hereunder with respect to a particular Project until such time as Lenders have approved a Project Loan for such Project in accordance with the terms hereof. Each advance made by Lenders to Borrower under a Project Loan is referred to herein as an "ADVANCE" and collectively as "ADVANCES". Each Lender's Advances under a Project Loan shall not exceed such Lender's Percentage Share of the Project Loan. (b) A Project Loan may not exceed the lesser of (1) an amount equal to eighty percent (80%) of the Project's cash cost to reach stabilization, or (2) an amount equal to seventy-five percent (75%) of the stabilized appraised value of the Project. The aggregate amount of all Advances with respect to a Project Loan may not exceed the amount of the Project Loan. Borrower shall apply all funds from Advances under a Project Loan to the Project Costs for the Project related to such Project Loan. (c) Advances will be made under a Project Loan only upon compliance with the terms of a Project Loan Agreement (herein so called) between Borrower, the Company and Agent substantially in the form of Exhibit S and the terms of this Agreement. (d) Each Project Loan shall be evidenced by one or more notes (each herein called a "NOTE") made by Borrower payable to an individual Lender and in an amount equal to such Lender's Percentage Share of the Project Loan, in the form of Exhibit A. All promissory notes delivered in connection with the Project Loans are referred to as the "NOTES"). The amount of principal owing on a Project Loan at any given time shall be the aggregate amount of all Advances theretofore made under the Project Loan minus all payments of principal theretofore received by the Lenders on the Project Loan. Interest on the Project Loan shall accrue and be due and payable as provided herein. (e) In connection with the closing of a Project Loan, Borrower shall deliver to Agent a Project Loan Certificate (herein so called) in the form of Exhibit R with respect to the Project Loan.
Sample 1
Project Loans 
Sample 1Sample 2

Related to Project Loans

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Existing Loans Schedule 2.3(j) lists, as of the date hereof, all (i) secured loans encumbering the Properties or any direct or indirect interest in the applicable Contributed Entity and (ii) any other indebtedness of any Contributed Entity or subsidiary (collectively, the “Disclosed Loans”) and the outstanding aggregate principal balance as of the date set forth on Schedule 2.3(j). To the Knowledge of Contributor, no monetary default (beyond applicable notice and cure periods) by any party exists under any of the Disclosed Loans and the documents entered into in connection therewith (collectively, the “Disclosed Loan Documents”) and no non-monetary default (beyond applicable notice and cure periods) by any party exists under any of the Disclosed Loan Documents.

  • Initial Loans This Agreement shall not become effective nor shall the Lenders be required to make the initial Loans unless (i) since December 31, 2015, no event, development or circumstance shall have occurred that has had, or could reasonably be expected to have, a material adverse effect on the business, assets, operations or financial condition of Harley and its subsidiaries taken as a whole, (ii) the Global Administrative Agent shall have received evidence of an effective amendment to the Credit Agreement dated April 7, 2014 (the “Existing 2014 Credit Agreement”) among inter xxxx Xxxxxx, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as global administrative agent, making conforming changes to the Existing 2014 Credit Agreement to correspond with the terms of this Agreement other than in respect of pricing, maturity and borrowers and (iii) the Borrowers shall have (a) paid all fees required to be paid, and all expenses required to be paid for which invoices have been presented reasonably in advance of the Closing Date, in connection with the execution of this Agreement, (b) furnished to the Global Administrative Agent such documents as the Global Administrative Agent or any Lender or its counsel may have reasonably requested, including, without limitation, all of the documents reflected on the List of Closing Documents attached as Exhibit D to this Agreement, (c) obtained all governmental and third party approvals necessary in connection with the financing contemplated hereby and the continuing operations of Harley and its Subsidiaries (including the Borrowers) and such approvals remain in full force and effect, (d) delivered to the Lenders (1) audited consolidated financial statements of Harley (on a Consolidated basis) and (2) audited Consolidated financial statements of HDFS and its Subsidiaries (on a Consolidated basis), in the case of each of the foregoing clauses (1) and (2), for the two most recent fiscal years ended prior to the Closing Date as to which such financial statements are available and (e) delivered evidence reasonably satisfactory to the Global Administrative Agent of the payment of all principal, interest, fees and premiums, if any, on all Indebtedness under the Existing Credit Agreement, and the termination of the applicable agreements relating thereto, all taking effect concurrently with the effectiveness of this Agreement; provided that any Lender hereunder which is also a “Lender” under the Existing Credit Agreement hereby waives (A) any requirement of five (5) Business Days notice by the “Borrowers” under the Existing Credit Agreement prior to the reduction of the commitments thereunder and the termination thereof and (B) the payment of any amounts under Section 3.4 of the Existing Credit Agreement in connection with the termination thereof.

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

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

  • Other Loans In the event the Partnership is in need of additional funds other than an FF&E Loan or a Capital Improvement Loan, the Company may, but shall not be obligated to, make loans to the Partnership in such amounts as are necessary. Any such loan shall bear interest at a rate, and shall have repayment terms, as the General Partner shall reasonably determine.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Acquisition Loans The proceeds of the Acquisition Loans may be used only for the following purposes: (i) for working capital and general corporate purposes, including, without limitation, the issuance of Letters of Credit and to pay outstanding Floor Plan Loans; and (ii) to make Permitted Acquisitions.

  • Incremental Loans Any Incremental Term Loans or Incremental Revolving Commitments effected through the establishment of one or more new term loans or new revolving credit commitments, as applicable, made on an Incremental Facility Closing Date (other than a Loan Increase) shall be designated a separate Class of Incremental Term Loans or Incremental Revolving Commitments, as applicable, for all purposes of this Agreement. On any Incremental Facility Closing Date on which any Incremental Term Commitments of any Class are effected (including through any Term Loan Increase), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental Term Lender of such Class shall make a Loan to the Borrower (an “Incremental Term Loan”) in an amount equal to its Incremental Term Commitment of such Class and (ii) each Incremental Term Lender of such Class shall become a Lender hereunder with respect to the Incremental Term Commitment of such Class and the Incremental Term Loans of such Class made pursuant thereto. On any Incremental Facility Closing Date on which any Incremental Revolving Commitments of any Class are effected through the establishment of one or more new revolving credit commitments (including through any Revolving Commitment Increase), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental Revolving Lender of such Class shall make its Commitment available to the Borrower (when borrowed, an “Incremental Revolving Loan” and collectively with any Incremental Term Loan, an “Incremental Loan”) in an amount equal to its Incremental Revolving Commitment of such Class and (ii) each Incremental Revolving Lender of such Class shall become a Lender hereunder with respect to the Incremental Revolving Commitment of such Class and the Incremental Revolving Loans of such Class made pursuant thereto.