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
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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. 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. (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 
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Related to Project Loans

  • Loans 3.1. On each Loan Subscription Date, not later than the time specified by Xxxxxx (such time to be posted to the TALF Website in advance of such Loan Subscription Date), each TALF Agent may submit to Lender, in the manner specified by Xxxxxx from time to time, a request for Loans on behalf of each Applicable Borrower proposing to borrow Loans on the next scheduled Loan Closing Date (each such request, a “Loan Request”). Each TALF Agent shall complete the Loan Request in accordance with instructions provided by Custodian from time to time, in the form attached hereto as Appendix 3A or, in the case of a Loan to be secured by CMBS Collateral, Appendix 3B. Lender shall promptly provide Custodian with the information contained in each such Loan Request. Notwithstanding the foregoing, a TALF Agent shall not be permitted to submit a Loan Request unless (x) it has previously delivered to Custodian a copy of the Letter of Agreement pursuant to which it became a party hereto and (y) in the case of a Loan to be secured by Newly Issued CMBS Collateral and with respect to each such Item of Newly Issued CMBS Collateral, the following documents shall have been delivered to Lender and Custodian at or before the stated times: (1) not later than 5:00 p.m. on the eighth Business Day before the applicable Loan Subscription Date, the Offering Materials (as defined below) (which may be in preliminary form to the extent Offering Materials in final form are not then available), (2) not later than 5:00 p.m. on the sixth Business Day prior to the applicable Loan Subscription Date, an AUP Report (TALF) and an AUP Report (Industry) relating to such Offering Materials and (3) not later than the Business Day after any supplement to such Offering Materials is furnished to prospective investors, each such supplement, together with an AUP Report (TALF) and an update to the earlier AUP Report (Industry); provided, that each such supplement and related AUP Report (TALF) and update to AUP Report (Industry) shall be delivered not later than 5:00

  • 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, 2009, 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 and (ii) the Borrowers shall have (a) paid all fees required to be paid in connection with the execution of this Agreement, (b) furnished to the Global Administrative Agent, with sufficient copies (other than in the case of any Notes) for each of the Lenders, 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), (2) unaudited Consolidated financial statements of Harley (excluding HDFS and its Subsidiaries), (3) audited Consolidated financial statements of HDFS and its Subsidiaries (on a Consolidated basis), in the case of each of the foregoing clauses (1), (2) and (3), for the two most recent fiscal years ended prior to the Closing Date as to which such financial statements are available and (4) financial statement projections of (A) Harley (on a Consolidated basis), (B) Harley (excluding HDFS and its Subsidiaries) and (C) HDFS and its Subsidiaries, in the case of each of the foregoing clauses (A), (B) and (C), for the 2010 fiscal year, together with key underlying assumptions in reasonable detail 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 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.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to one percent (1.0%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(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.

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