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;
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;
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 Manager, 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 Manager (whose apportioned share of the Required Loans shall be provided by HPI), on a pro rata basis, based upon their then-current percentage sharing of Profits.
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;
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
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. ---------
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;
