Qualified Commercial Loan Sample Clauses

Qualified Commercial Loan. This Agreement evidences a "qualified commercial loan" as that term is defined in Section 306.001 of the Texas Finance Code, as amended.
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Qualified Commercial Loan. This loan is a Qualified Commercial Loan as defined in Chapter 306 of the Texas Finance Code. This loan is not secured by real property and is not a loan for the purpose of financing a business licensed by the Motor Vehicle Board of the Texas Department of Transportation under Section 4.01(a), Texas Motor Vehicle Commission (Article 4413(36), Vernon's Texas Civil Statutes). Borrower has been advised by Lender to seek advice of an attorney and an accountant in connection with this Qualified Commercial Loan and Borrower has had the opportunity to seek the advice of an attorney and accountant of Borrower's choice in connection with this Qualified Commercial Loan.
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Qualified Commercial Loan. (a) The Borrower has been advised by the Administrative Agent and the Lenders to seek the advice of an attorney and accountant of the Borrower's choice in connection with this Agreement and the Loan Papers.
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Qualified Commercial Loan. The transaction referenced herein will be evidenced by a the Note and Warrants which may be issued from time to time after the date hereof. The parties hereto agree and acknowledge that each issuance of Debt and Warrants shall be considered part of the same overall transaction. The Borrower hereby certifies that it has been advised by the Lenders to seek the advice of an attorney and an accountant in connection with the transactions referenced herein. Furthermore, the Borrower has had an opportunity to seek the advice of an attorney and an accountant of the Borrower’s choice in connection with the transactions referenced herein. [Signature page follows]
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Qualified Commercial Loan. Amen acknowledges, confirms and agrees that (i) the Loans contemplated by this Agreement constitute “qualified commercial loans” under Section 306.001, et. seq. of the Texas Finance Code, (ii) Amen shall execute such documents and take such other action as the Investors may reasonably request for the Loans to constitute such “qualified commercial loan”, and (iii) the Investors have advised Amen to, and Amen has had the opportunity to, seek the advice of an attorney and an accountant in connection with the transaction contemplated by this Agreement. Mid:010056\000010\578047.9 18
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Qualified Commercial Loan. The Notes, together, are a “qualified commercial loan” as defined in Section 306.001(9) of the Texas Finance Code. Pursuant to this Agreement and Notes executed and delivered in connection with the Offering, the Investors are advancing money or credit with an aggregate value of $250,000 or more as part of the same transaction, and such amount is not secured by real property. The Issuer hereby certifies as follows: (a) the Issuer has been advised by the Investors to seek the advice of an attorney and an accountant in connection with this Agreement; and (b) the Issuer has had the opportunity to seek the advice of an attorney and accountant of the Issuer’s choice in connection with this Agreement.
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Qualified Commercial Loan. (a) The parties to a qualified commercial loan agreement may contract for a rate or amount of interest that does not exceed the applicable rate ceiling.
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Qualified Commercial Loan. Borrower and Guarantor acknowledge, confirm and agree that (i) the transaction contemplated by this Agreement constitutes a “qualified commercial loan” under Section 306.001, et. seq. of the Texas Finance Code, (ii) Borrower and Guarantor shall execute such documents and take such other action as Lender may reasonably request for this transaction to constitute such “qualified commercial loan”, and (iii) Lender has advised Borrower to, and Borrower has had the opportunity to, seek the advice of an attorney and an accountant in connection with the transaction contemplated by this Agreement.
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Qualified Commercial Loan. The advances under the Notes and the other Transaction Documents qualify as a “qualified commercial loan” in accordance with Sections 306.001 and 306.101 of the Texas Finance Code.
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Related to Qualified Commercial Loan

  • Whole Loan Each Mortgage Loan is a whole loan and not a participation interest in a mortgage loan.

  • PPP Loan On or about January 24, 2022, the PPP Loan was forgiven in full by the PPP Lender and the U.S. Small Business Administration in accordance with the terms of the PPP Loan, CARES Act, and all other applicable Laws.

  • Each Loan or Letter of Credit At the time of making any Loans or issuing, extending or increasing any Letters of Credit and after giving effect to the proposed extensions of credit: (i) the representations, warranties of the Loan Parties shall then be true and correct, (ii) no Event of Default or Potential Default shall have occurred and be continuing, (iii) the making of the Loans or issuance, extension or increase of such Letter of Credit shall not contravene any Law applicable to any Loan Party or Subsidiary of any Loan Party or any of the Lenders, and (iv) the Borrower shall have delivered to the Administrative Agent a duly executed and completed Loan Request or to the Issuing Lender an application for a Letter of Credit, as the case may be.

  • Loan 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of one hundred million Dollars ($100,000,000), as such amount may be converted from time to time through a Currency Conversion in accordance with the provisions of Section 2.07 of this Agreement (“Loan”), to assist in financing the project described in Schedule 1 to this Agreement (“Project”).

  • Delayed Draw Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 11:00 a.m. (i) on the same Business Day as each Base Rate Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan (provided that the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement), of its intention to borrow, specifying (A) the date of such borrowing (the “Delayed Draw Funding Date”), which shall be a Business Day, (B) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof, (C) whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (D) in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; provided, that the Delayed Draw Term Loan shall be made in one drawing on the Delayed Draw Funding Date. Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 1:00 p.m. on the proposed Delayed Draw Funding Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Delayed Draw Term Loan to be made by such Term Loan Lender on the Delayed Draw Funding Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Delayed Draw Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing; provided that to the extent the proceeds of the Delayed Draw Term Loan funded on the Delayed Draw Funding Date, together with the Cash Contribution, exceed an amount equal to the Cash Percentage of the total Acquisition Consideration payable in accordance with the Tender Offer Document in respect of the Company Shares accepted in the Tender Offer on the Delayed Draw Funding Date plus Transaction Costs then due and payable (the “Excess Term Loan Proceeds”), such Excess Term Loan Proceeds shall be funded directly into the Escrow Account in accordance with the Escrow Agreement; it being agreed that the principal amount of each Delayed Draw Term Loan owing hereunder shall be an amount equal to 100% of the applicable Lender’s Term Loan Commitment with respect to the Delayed Draw Term Loan.

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