PURPOSE OF THE TERM LOAN. The proceeds of the Term Loan shall be used to (i) refinance existing outstanding debt of the Borrowers with RBS Citizens, and (ii) pay the fees, costs and expenses associated with the closing of the Loans.
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the purchase of Fixed Productive Assets. Under this Agreement, the Company shall be required to invest a minimum of Singapore Dollars One Thousand Five Hundred Million (S$1,500,000,000) cumulatively in Fixed Productive Assets (excluding land) by 31
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clauses 3, 4, 7, 8, 9, 11, 12, 13, and 14 being complied with, the Term Loan shall be made available by the Board to the Company for the sole purpose of providing funds to the Subsidiary (by way of Equity Contributions to be made by the Company) to purchase Fixed Productive Assets.
4.2 Upon receiving a Drawing under Clause 5, the Company shall apply all the proceeds thereof for the purposes described in Clause 4.1.
4.3 It is further agreed that this Term Loan shall be made available to the Company on the conditions that the Company shall cause:
(a) at least Three Hundred Million Singapore Dollars (S$300,000,000/-) or its equivalent in United States Dollars (converted at a fixed USD/S$ exchange rate of 1.52), or such lower amount as may be approved by the Board, to be used for Equity Contributions; and
(b) at least One Billion Singapore Dollars (S$1,000,000,000/-) inclusive of the amount under Clause 4.3(a), or its equivalent in United States Dollars (converted at a fixed USD/S$ exchange rate of 1.52), or such lower amount as may be approved by the Board, to be incurred by the Subsidiary for the financing, purchasing, building of or expenditure towards Fixed Productive Assets by February 29, 2012 (the “Requisite Investment”). If the shortfall (if any) in the Requisite Investment ascertained as at February 29, 2012, the Company shall, on the Board’s demand, pay a sum in Singapore Dollars computed as follows (utilizing 365 days per year for partial-year calculations):
(i) For a shortfall in the Requisite Investment of Three Hundred Million Singapore Dollars (S$300,000,000/-) or less, the sum shall be Thirty percent (30%) of such shortfall multiplied by Three percent (3%) per year from the First Drawing Date to the Full Repayment Date;
(ii) For a shortfall in the Requisite Investment of more than Three Hundred Million Singapore Dollars (S$300,000,000/-), the sum shall be (a) the amount calculated in (i) immediately above, plus (b) the amount of such shortfall that exceeds Three Hundred Million Singapore Dollars (S$300,000,000/-) multiplied by Three percent (3%) per year from the First Drawing Date to the Full Repayment Date; provided that in no event shall such sum exceed Nine Million Singapore Dollars (S$9,000,000/-) per year, the absolute maximum amount payable for each year pursuant to this Section 4.3(b).
4.4 If the Company fails to make the Requisite Investment, the Boa...
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the Fixed Productive Assets of the semiconductor assembly and test project.
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the Fixed Productive Assets for the wafer fabrication of semiconductor devices at a facility to be established in Woodlands in Singapore (the "FAB 2 Project").
4.2 Upon advance of a Drawing under Clause 5, the Company shall apply all the proceeds thereof for the purposes described in Clause 4.1 above and for no other purpose whatsoever.
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the purchase of Productive Fixed Assets of the Company's plant for the FAB 2 Project only, provided always that such financing shall only be in respect of payments already made by the Company after 1 September 1996 in respect of the said Project. Under this Agreement, the Company shall be required to invest a minimum of Singapore Dollars One Billion Five Hundred Million (S$1,500,000,000.00) cumulatively in Productive Fixed Assets (excluding land) by 31 December 1999.
4.2 Upon advance of a Drawing under Clause 5, the Company shall apply all the proceeds thereof for the purposes described in Clause 4.1 above and for no other purpose whatsoever.
PURPOSE OF THE TERM LOAN. The Term Loan shall only be used for general corporate purposes. 6 XXXXXXXX’S CONTACT DETAILS FOR NOTICES BORROWER: Attention: Xxxxxx Xxxxx Address: Imagine Marketing Private Limited, 501 B, Shri Guru Har Xxxxxxx Xxxxxx, Charat Singh Colony Road, Chakala, Andheri-East, Mumbai 400093E-mail ID: xxxxxx.xxxxx@xxxxxxxxxxxxxxxxxxxxx.xxx
PURPOSE OF THE TERM LOAN. The proceeds of the Term Loan shall be used to (i) refinance existing outstanding debt of the Borrowers with the Lender (in the approximate amount of $15,200,000), (ii) refinance and term out the outstanding balance of the existing development line of credit loan between the Borrowers and the Lender (in the approximate amount of $3,300,000), (iii) fund the acquisition by AMC Wings, Inc. of 100% of the membership interests in Xxxxxx Group, L.L.C., the owner of the Clinton Township Property (in the approximate amount of $2,500,000), (iv) fund the acquisition by the Acquisition Entities from the Xxxxxxx Entities of the assets of eight (8) Buffalo Wild Wings Restaurants located at the Acquisition Locations pursuant to the terms of the Xxxxxxx APA (in the approximate amount of $14,700,000), and (v) pay the fees, costs and expenses associated with the acquisition of the assets listed in (iii) and (iv) above and in connection with the closing of the Loans.
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of Clause 3, the Term Loan will be made available by the Board to the Company for financing the purchase of Fixed Productive Assets of the Company's plant only for the Fab 3 Project. Under this Agreement, the Company shall be required to invest a minimum amount of Singapore Dollars One Billion Eight Hundred Million (S$1,800,000,000.00) in Fixed Productive Assets (excluding land) by 31
PURPOSE OF THE TERM LOAN. 4.1 Subject to the terms and conditions herein contained and in particular to those of the Clause 3, the Term Loan will be made available by the Board to the Company for financing Fixed Productive Assets.
4.2 Upon advance of a Drawing under Clause 5, the Company shall apply all the proceeds thereof for the purposes described in Clause 4.1 above and for no other purpose whatsoever.
4.3 It is further agreed that this Term Loan shall be made available to the Company on the understanding that the Company shall invest or expend at least Singapore Dollars One Hundred and Sixty-nine Million (S$169,000,000) cumulatively in Fixed Productive Assets by 2006.
