Qualified Business. Company acknowledges and agrees that Lender is providing the Loan to the Company pursuant to the Texas CAPCO Law as a qualified business. The Company understands that in order for the Loan to be made by the Lender the following representations must be true and correct as of the date of this Agreement and as of the date that any Loan is outstanding by the Lender.
(a) The Company is headquartered in Texas, its principal business operations and books and records are in Texas and the Company at all times intends to remain in Texas. As of the date hereof, the Company does not and has not had more than 100 employees at any given time. At least 80% of the Company’s employees reside in Texas or the Company pays at least 80% of its payroll to Texas residents.
(b) The Company’s primary business is and will continue to remain in: (i) manufacturing, processing, or assembling products; (ii) conducting research and development; or (iii) providing services.
(c) The Company does not and will not incur more than 20% of its expenses and does not receive more than 20% of its income from:
(i) retail sales;
(ii) real estate development;
(iii) the business of financial services including insurance, banking, or lending; or
(iv) the provision of professional services provided by accountants, attorneys, or physicians.
Qualified Business. The Company is a “Qualified Business” as defined under Section 11(a)(6) of the New York Tax Law.
Qualified Business. Company acknowledges and agrees that Lender is providing the Loan to the Company pursuant to the Texas CAPCO Law as a qualified business. The Company understands that in order for the Loan to be made by the Lender the following representations must be true and correct as of the date of this Agreement and as of the date that any Loan is outstanding by the Lender.
(a) The Company is headquartered in Texas, its principal business operations and books and records are in Texas and the Company at all times intends to remain in Texas. As of the date hereof, the Company does not and has not had more than 100 employees at any given time. At least 80% of the Company’s employees reside in Texas or the Company pays at least 80% of its payroll to Texas residents.
(b) The Company’s primary business is and will continue to remain in: (i) providing VoIP Services carrier and hosted services..
(c) The Company does not and will not incur more than 20% of its expenses and does not receive more than 20% of its income from:
(i) retail sales;
(ii) real estate development;
(iii) the business of financial services including insurance, banking, or lending; or
(iv) the provision of professional services provided by accountants, attorneys, or physicians.
(d) The Company was not formed or organized, directly or indirectly, by ATVF II LLC or an affiliate of ATVF II LLC, (ii) is not a franchisee of ATVF II LLC; (iii) is not an affiliate of ATVF II LLC; or (iv) did not have any financial relationship with ATVF II LLC before the date on which Lender made its first investment in the Company. The Company will not at any time make any material change in the lines of its business as carried on at the date hereof or enter into any new line of business, except reasonable extensions of the current business.
Qualified Business. (i) In general.
(ii) Rental of real property.
Qualified Business. Company acknowledges and agrees that Lender is providing the Loan to the Company pursuant to the Texas CAPCO Law as a qualified business. The Company understands that in order for the Loan to be made by the Lender the following representations must be true and correct as of the date of this Agreement and as of the date that any Loan is outstanding by the Lender.
(a) The Company is headquartered in Texas, its principal business operations and books and records are in Texas and the Company at all times intends to remain in Texas. As of the date hereof, the Company does not and has not had more than 100 employees at any given time. At least 80% of the Company’s employees reside in Texas or the Company pays at least 80% of its payroll to Texas residents.
(b) The Company’s primary business is and will continue to remain in: (i) manufacturing, processing, or assembling products; (ii) conducting research and development; or (iii) providing services.
(c) The Company does not and will not incur more than 20% of its expenses and does not receive more than 20% of its income from:
(i) retail sales;
(ii) real estate development;
(iii) the business of financial services including insurance, banking, or lending; or
(iv) the provision of professional services provided by accountants, attorneys, or physicians.
(d) The Company was not formed or organized, directly or indirectly, by Aegis Texas Venture Fund, LP or an affiliate of Aegis Texas Venture Fund, LP, (ii) is not a franchisee of Aegis Texas Venture Fund, LP; (iii) is not an affiliate of Aegis Texas Venture Fund, LP; or (iv) did not have any financial relationship with Aegis Texas Venture Fund, LP before the date on which Lender made its first investment in the Company. The Company will not at any time make any material change in the lines of its business as carried on at the date hereof or enter into any new line of business, except reasonable extensions of the current business.
Qualified Business. The Borrower is a "qualified business" pursuant to the New York CAPCO Law and all facts and materials provided to the Lender and submitted to the Insurance Department of the State of New York on March ____, 2006, as specified in Schedule 6.1(dd) hereof, are true and correct in all respects regarding the current and intended business of the Borrower and its Subsidiaries. In addition:
(i) The Borrower's primary business is and will continue to remain in manufacturing, processing (including electronic processing of credit card and check transactions) and/or assembling products;
(ii) The Borrower does not and will not incur more than 20% of its expenses and does not receive more than 20% of its income from:
(A) retail sales;
(B) real estate development;
(C) the business of financial services including insurance, banking or lending, but excluding electronic processing of credit card and check transactions; or
(D) the provision of professional services provided by accountants, attorneys or physicians.
(iii) The Borrower was not formed or organized, directly or indirectly, by the Lender or an Affiliate of Lender.
(iv) The Borrower agrees to maintain its headquarters and principal place of business operations within the State of New York and in the New Windsor Empire Zone for at least two years after the Closing Date. The Borrower agrees to use the Loan proceeds primarily to support its business operations within the State of New York, including at all times while the Loan is outstanding, keeping at least 80% of its employees employed in the State of New York.
(v) The Borrower's Empire Zone certificate is valid and it remains in full force and effect.
Qualified Business. The Borrower shall continue to maintain its status of a "Qualified Business" pursuant to the New York CAPCO law and shall continue to maintain its headquarters and principal place of business in New York.
Qualified Business. (a) The Company is headquartered in Texas and has its principal business operations in Texas.
(b) At all times while any portion of the Obligations remain outstanding, the Company intends to act in good faith to take all reasonable actions necessary or desirable to maintain its headquarters and principal business operations in Texas.
(c) The Company does not have more than 100 employees and at least 80% of its employees reside in Texas or at least 80% of its payroll is paid to Texas residents.
(d) The Company does not incur more than 20% of its expenses and does not receive more than 20% of its income from the provision of professional services by physicians.
Qualified Business. A person is a qualified business if the bank, for the purpose of state benefits under this chapter, or the nominating body of a project or activity of the person under this chapter, for the purpose of local incentives, certifies that:
Qualified Business. Qualified Business" shall mean the operation on approximately 10 (ten) acres of the Property of a retail furniture store, and create approximately 75 FTE jobs.
