Sale of Initial Loans Sample Clauses

Sale of Initial Loans. Seller, by the execution and delivery of this Agreement, does hereby transfer, sell, assign, set over, and otherwise convey to the Buyer, without recourse, representation or warranty (except as expressly set forth herein) all of Seller’s right, title and interest in, to and under the loans identified on Schedule 1 attached hereto (the “Initial Loans” and, together with any Additional Loans (as defined below), each a “Loan” and collectively, the “Loans”), all interest accruing thereon, all monies due or to become due thereon, and all collections in respect thereof received on or after the Closing Date and all proceeds of the foregoing. The purchase price for the Initial Loans conveyed to Buyer pursuant to this Agreement shall be payable on the Closing Date in (i) cash in an amount equal to the fair market value of such Initial Loans as mutually agreed upon by Seller and Buyer, (ii) with the consent of the Seller, by means of an increase in the equity value in the Buyer (which increase shall confer an indirect benefit on Seller), (iii) the Seller’s acquisition of the Class A Notes, and/or (iv) by a combination of clauses (i), (ii) and/or (iii) and/or other consideration. For avoidance of doubt, this computation of the initial purchase price shall assume no reinvestment in new Loans.
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Related to Sale of Initial Loans

  • SALE/PURCHASE OF INITIAL LOANS (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Initial Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding of the Initial Xxxx of Sale and (ii) the payment by Funding to Town Hall Funding of the Initial Payment. Upon consummation, such sale and purchase shall be effective as of the date of the Initial Xxxx of Sale. Town Hall Funding and Funding shall use their best efforts to perform promptly their respective obligations pursuant to the Initial Purchase Agreement with respect to each Initial Loan.

  • Initial Loans 36 7.2 Initial and Subsequent Loans.................................................................39

  • Conditions of Initial Loans The obligation of each Lender to make its initial Loans and of each L/C Issuer to Issue, or cause to be Issued, the initial Letters of Credit hereunder is subject to satisfaction of the following conditions in a manner satisfactory to Agent:

  • Sale of Investments Pursuant to Instruction, Investments sold for the account of the Fund shall be delivered (a) against payment therefor in cash, by check or by bank wire transfer, (b) by credit to the account of the Custodian or the applicable Subcustodian, as the case may be, with a Clearing Corporation or a Securities Depository (in accordance with the rules of such Securities Depository or such Clearing Corporation), or (c) otherwise in accordance with an Instruction, Applicable Law, generally accepted trade practices, or the terms of the instrument representing such Investment.

  • Conditions to Initial Loans The agreement of each Lender to make Loans hereunder and the effectiveness of this Agreement is subject to the satisfaction, prior to or on the Closing Date, of the following conditions precedent, which conditions precedent apply to and shall be satisfied by the Borrower:

  • Investments, Acquisitions, Loans and Advances The Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly, make, retain or have outstanding any investments (whether through purchase of stock or obligations or otherwise) in, or loans or advances to (other than for travel advances and other similar cash advances made to employees in the ordinary course of business), any other Person, or acquire all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent:

  • Investments, Loans, Advances and Acquisitions The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except:

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