Purpose of Loan and Escrow Sample Clauses

Purpose of Loan and Escrow. The proceeds of the Loan and Escrow will be used for the purposes specified in the Loan Documents. Such Loan and Escrow will not be used directly or indirectly for personal, family, household or agricultural purposes or for the purposes of purchasing or carrying any Margin Stock or for the purpose of extending credit to others for the purpose of purchasing or carrying any Margin Stock. EXHIBIT “1” TO CONSTRUCTION RIDER Loan: $25,000,000.00 The Architect: N/A The Closing Date: The date of the Loan Agreement. The Completion Date: On or before twelve (12) months from Closing Date. The Contractors: [Name of Contractor] [Address of Contractor] The Expansion: Improvements: Construction of Expansion Improvements (as defined in the Loan Agreement) to the existing Nixon, Texas oil refinery plant pursuant to [Name of Contract] dated [ ] by and between Lazarus Energy LLC and [Name of Contractor], as Contractor; and in each case in accordance with plans and specifications as more particularly described in said contract. Retainage to be deducted from Advance: Ten Percent (10%), if and to the extent required by Lender at its discretion. Frequency of Advances: At sole discretion of Lender. The Title Company: Providence Title 0000 XXX 000 Xxxxx, Xxx 000 Xxxxxxxxx, XX 00000 XXXXXXX X XXXXXXXXX XXXXX XX XXXXX § § XXXXXX OF DALLAS § BEFORE ME, the undersigned authority personally appeared Xxxxxxxx Xxxxx Xxxxxxx, Xx., who, being duly sworn by me, stated, under oath, as follows: “This Affidavit is made by Xxxxxxxx Xxxxx Xxxxxxx, Xx. I am the President of Blue Dolphin Energy Company, a Delaware corporation, sole member of Lazarus Energy LLC, a Delaware limited liability company (the “Company”). On behalf of the Company, I have previously made application to Sovereign Bank (the “Lender”) for a USDA Business & Industry Guaranteed loan in the amount of $25,000.000.00, same having been approved as Case No. 51-047-*****1870, which said loan, upon fulfillment of all prerequisites and requirements, shall be funded by Lender. In connection with the application for said loan, I submitted certain financial and other requested information concerning myself individually and the Company. By this Affidavit, I represent that the information and data previously submitted to the Lender was accurate in all material respects at the time of its submission and is accurate at time of closing of the described loan, including but not limited to the representations as to management and ownership. Furth...
Sample 1
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Purpose of Loan and Escrow. The proceeds of the Loan and Escrow will be used for the purposes specified in the Loan Documents. Such Loan and Escrow will not be used directly or indirectly for personal, family, household or agricultural purposes or for the purposes of purchasing or carrying any Margin Stock or for the purpose of extending credit to others for the purpose of purchasing or carrying any Margin Stock. Dated: December 4, 2015.
Sample 1
Purpose of Loan and Escrow. The proceeds of the Loan and Escrow will be used for the purposes specified in the Loan Documents. Such Loan and Escrow will not be used directly or indirectly for personal, family, household or agricultural purposes or for the purposes of purchasing or carrying any Margin Stock or for the purpose of extending credit to others for the purpose of purchasing or carrying any Margin Stock. LOAN AGREEMENT Page 41 EXHIBIT “I” TO CONSTRUCTION RIDER Loan: $10,000,000.00 The Architect: N/A The Closing Date: The date of this Agreement. The Completion Date: On or before fourteen (14) weeks from project start. The Contractor: Spectrum Engineering, Inc. 00000 Xxxx Xxxx, Suite 110 Baton Rouge, Louisiana 70816 The Improvements: Restoration of the Crude Unit and related tankage of the existing Nixon, Texas plant to operational condition to produce Raw Kerosene, Diesel, Gasoil and Reduced Crude pursuant to EPC Project Specific Contract (Contract Number 2580-08) dated July 30, 2008 by and between Lazarus Energy LLC and Spectrum Engineering, Inc., as Contractor, and in accordance with plans and specifications as more particularly described in said contract. Retainage to be deducted from Advance: Ten Percent (10%).
Sample 1

Related to Purpose of Loan and Escrow

  • Maintenance of Loan Accounts by Lenders Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.

  • Amendment of Loan Agreement The Loan Agreement is hereby amended as follows:

  • Conditions Precedent to Each Loan and Each Letter of Credit The obligation of the Lenders to make each Loan and of the Issuing Lenders to issue each Letter of Credit, including the initial Loans and the initial Letters of Credit, is subject to the satisfaction (or waiver in accordance with Section 10.08) of the following conditions precedent:

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

  • Amendments to the Loan and Security Agreement (a) The Loan and Security Agreement shall be amended as follows effective as of the Amendment Effective Date:

  • Effect of Loan Accounts, etc The entries made in the accounts maintained pursuant to Section 2.08(b) shall be prima facie evidence of the existence and amounts of the Obligations recorded therein; provided, that the failure of the Administrative Agent to maintain such accounts or any error (other than manifest error) therein shall not in any manner affect the obligation of any Credit Party to repay or prepay the Loans or the other Obligations in accordance with the terms of this Agreement.

  • Conditions Precedent to Loans and Letters of Credit 57 Section 3.1. Conditions to Effectiveness 57 Section 3.2. Conditions to Each Credit Event 60 Section 3.3. Delivery of Documents 60

  • Conditions Precedent to Initial Loans and Letter of Credit Accommodations Each of the following is a condition precedent to Lender making the initial Loans and providing the initial Letter of Credit Accommodations hereunder:

  • Amendments to the Loan Agreement The Loan Agreement is hereby amended as follows:

  • Conditions Precedent to All Advances and Letters of Credit The Lender’s obligation to make each Advance or to cause the issuance of a Letter of Credit shall be subject to the further conditions precedent that:

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