Required Loans Sample Clauses

Required Loans. Any Contract containing a covenant by any Target Company to make, directly or indirectly, any advance, loan, extension of credit or capital contribution to, or other investments in, any Person in excess of $1,000,000, in each case other than as made in the ordinary course of such Target Company's business consistent with past practice;
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Required Loans. Other than in the Ordinary Course with respect to the Funds, any Contract containing a covenant by the Target Business to make, directly or indirectly, any advance, loan, extension of credit or capital contribution to, or other investments in, any persons;
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Required Loans. (i) In addition to the initial Capital Contributions of the Partners as provided in Section 2 above, during the period commencing with the date of this Agreement and ending on the twentieth (20th) anniversary of such date, each of the Partners, except Torrey, agrees to loan or cause to be loaned to the Partnership, on an as needed basis, amounts required for the operation and business activities of the Partnership ("Required Loans"); provided, the total principal amount of all such Required Loans shall not exceed in the aggregate U.S. $200,000 per restaurant owned, in the majority, directly or indirectly by the Partnership. All Required Loans shall be apportioned between the Partners, except Torrey (whose apportioned share of the Required Loans shall be provided by HPI), on a pro rata basis, based upon their then current sharing of Profits. (ii) The Required Loans shall be in the nature of revolving lines of credit to the Partnership to be advanced against a non-negotiable promissory note of the Partnership to each respective Partner. Each such advance shall bear interest from the date advanced until repaid at the Prime Rate and all principal and any accrued but unpaid interest not paid pursuant to Section 6(a)(iii)(B) hereof, shall become finally due and payable, if not sooner paid pursuant to Section 6(a)(iii)(B) hereof, at the end of the twentieth (20th) year of the term of this Agreement. Upon the expiration of the twentieth (20th) anniversary of the term of this Agreement (whether or not the Agreement is renewed), none of the Partners shall have further obligations to make further Required Loans to the Partnership. Accrued interest upon outstanding advances under the Required Loans, if any, shall be due and payable on a quarterly basis with both principal and interest to be prepaid from Cash Flow from Operations. (iii) The aforesaid Required Loans shall be made to the Partnership upon calls made by the General Partner. Upon the issuance of a call for Required Loans each Partner, except Torrey (whose apportioned share of the Required Loans shall be provided by HPI), shall proportionately make such Required Loans within five (5) business days after receipt of the notice of such call.
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Required Loans. Any Contract relating to an obligation by the Asia Target Companies or the Europe Target Companies to make, directly or indirectly, any advance, loan, extension of credit or capital contribution to, or other investment in, any Person (other than investments in the Ordinary Course) in excess of, for each Target Company, $250,000;
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Required Loans. 14 SECTION 2.05. Letters of Credits ............................................. 15 SECTION 2.06. Earnout Registration Statement ................................. 15 SECTION 2.07. Purchaser Control of the Sale of Earnout Shares ................ 17 SECTION 2.08. Earnout Shortfall Payment ...................................... 18 SECTION 2.09. Earnout Loans .................................................. 19 SECTION 2.10. Sellers' Non-Shortfall Election ................................ 20 SECTION 2.11. Escrow Arrangements ............................................ 21 SECTION 2.12. Interpretation ................................................. 21
Sample 1
Required Loans. (a) At the Closing, Purchaser shall make an interest-free, non- recourse loan (the "First Loan") to each Seller in the amount of Seven Million Five Hundred Thousand Dollars ($7,500,000) payable in immediately available funds by wire transfer to an account designated by each Seller which First Loan shall be due on the Settlement Date. As a condition precedent to Purchaser's obligation to make the First Loan each Seller shall agree to pledge upon issuance a number of Shares equal to (x) Seven Million Five Hundred Thousand Dollars ($7,500,000) divided by (y) the Determination Price (the "Initial Pledge Shares") as security for the First Loan and shall deliver certificates representing such Initial Pledge Shares, in form for transfer, and shall deliver a note in the principal amount of Seven Million Five Hundred Thousand Dollars ($7,500,000), which note shall be substantially in the form of Exhibit B hereto, --------- and a pledge agreement with respect to the Initial Pledge Shares, which pledge agreement shall be substantially in the form of Exhibit C hereto. --------- (b) If the Settlement Date has not occurred on or before March 31, 1999 (the "Second Loan Date"), then Purchaser shall make an interest-free non- recourse loan (the "Second Loan" and, together with the First Loan the "Loans") to each such Seller in the amount of Fourteen Million Four Hundred Four Thousand Five Hundred Dollars ($14,404,500) less the proceeds from any sales of Non- Escrowed Shares received by such Seller (excluding any proceeds used to repay the First Loan) which Second Loan shall be due on the Settlement Date. The proceeds of the Second Loan shall be payable in immediately available funds by wire transfer to an account designated by each Seller. As a condition precedent to the Purchaser's obligation to make the Second Loan to each Seller, such Seller shall pledge all then unsold Non-Escrowed Shares belonging to such Seller that are not Initial Pledge Shares (the "Second Loan Pledge Shares") as security for the Second Loan and Custodian shall deliver certificates representing such Second Loan Pledge Shares in form for transfer, and Seller shall deliver a note in the principal amount of the Second Loan Amount, which note shall be substantially in the form of Exhibit B hereto, and a pledge agreement with --------- respect to the Second Loan Pledge Shares, which pledge agreement shall be substantially in the form of Exhibit C hereto. If either Seller is unable to --------- deliver t...
Sample 1
Required Loans. Any Contract relating to an obligation by a Target Company to make, directly or indirectly, any advance, loan, extension of credit or capital contribution to, or other investment in, any Person (other than investments in the Ordinary Course) in excess of $250,000;
Sample 1
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Related to Required Loans

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Manner of Borrowing and Funding Revolver Loans Borrowings under the Commitments established pursuant to Section 1.1 hereof shall be made and funded as follows:

  • Loans, Advances and Investments Neither the Seller nor any Restricted Subsidiary shall make any loan (other than Mortgage Loans), advance, or capital contribution to, or investment in (including any investment in any Restricted Subsidiary, joint venture or partnership), or purchase or otherwise acquire any of the capital stock, securities, ownership interests, or evidences of indebtedness of, any Person (collectively, “Investment”), or otherwise acquire any interest in, or control of, another Person, except for the following: (a) Cash Equivalents; (b) Any acquisition of securities or evidences of indebtedness of others when acquired by the Seller in settlement of accounts receivable or other debts arising in the ordinary course of its business, so long as the aggregate amount of any such securities or evidences of indebtedness is not material to the business or condition (financial or otherwise) of the Seller; (c) Mortgage Notes acquired in the ordinary course of the Seller’s business; (d) Investment in any existing Affiliate or any Subsidiary (including Investments by the Seller in CH Funding, LLC, a Delaware limited liability company) or JV; provided that (i) at the time any such investment is made and immediately thereafter, the Seller and the Restricted Subsidiaries are in compliance with all covenants set forth in the Repurchase Documents and no Default or Event of Default shall have occurred and be continuing and (ii) the aggregate outstanding amount of all such Investments shall not exceed $10,000,000 at any time; (e) Loans to officers or employees in an aggregate amount not to exceed $300,000; and (f) Investments in companies in the business of originating and servicing mortgage loans so long as such Investment is a direct equity investment and so long as such Investment does not cause a breach of any other covenant (affirmative or negative) hereunder.

  • Base Rate Loans Substituted for Affected Fixed Rate Loans If (i) the obligation of any Bank to make or to continue or convert outstanding Loans as or into Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03(a) or 8.04 with respect to its Euro-Dollar Loans and the Borrower shall, by at least five Euro-Dollar Business Days' prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such Bank, then, unless and until such Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (a) all Loans which would otherwise be made by such Bank as (or continued as or converted to) Euro-Dollar Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Banks), and (b) after each of its Euro-Dollar Loans has been repaid, all payments of principal which would otherwise be applied to repay such Loans shall be applied to repay its Base Rate Loans instead. If such Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Banks.

  • 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

  • Related Loans (a) Assuming Bank shall use its best efforts to determine which loans are “Related Loans”, as hereinafter defined. The Assuming Bank shall not manage, administer or collect any “Related Loan” in any manner that would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Single Family Shared- Loss Loan to which such loan is related. A “Related Loan” means any loan or extension of credit held by the Assuming Bank at any time on or prior to the end of the Final Shared-Loss Month that is made to an Obligor of a Single Family Shared-Loss Loan.

  • Revolver Loans Each Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the unpaid balance of Revolver Loans outstanding at such time (including the requested Loan) would exceed the Borrowing Base.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Treatment of Affected Loans If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.1.(b) or 5.3., then such Lender’s LIBOR Loans shall be automatically Converted into Base Rate Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 5.1.(b) or 5.3., on such earlier date as such Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.1. or 5.3. that gave rise to such Conversion no longer exist: (a) to the extent that such Lender’s LIBOR Loans have been so Converted, all payments and prepayments of principal that would otherwise be applied to such Lender’s LIBOR Loans shall be applied instead to its Base Rate Loans; and (b) all Loans that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that would otherwise be Converted into LIBOR Loans shall remain as Base Rate Loans. If such Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 5.1. or 5.3. that gave rise to the Conversion of such Lender’s LIBOR Loans pursuant to this Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding, then such Lender’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective Commitments.

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