Satisfaction of Loans. Upon payment in full on any Loan, the Servicer will notify the Trust, the Indenture Trustee and the Originator (if the Originator is not the Servicer) on the next succeeding Payment Date by certification of a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payments which are required to be deposited in the Collection Account pursuant to Section 5.05 have been so deposited). The Servicer is authorized to execute an instrument in satisfaction of such Loan and to do such other acts and execute such other documents as the Servicer deems necessary to discharge the Obligor thereunder and eliminate the lien on the related real property. The Servicer shall determine when a Loan has been paid in full; to the extent that insufficient payments are received on a Loan credited by the Servicer as prepaid or paid in full and satisfied, the shortfall shall be paid by the Servicer out of its own funds.
Satisfaction of Loans. Any and all loans by SPI to any officer or director of SPI including, but not limited to, those loans listed on Exhibit "Q" (Article "7(K)") shall be satisfied at the Closing and SPI shall have delivered to Western a certificate of SPI in the form annexed hereto as Exhibit "TT" (Article "19(A)(i)"), signed by the Chairman of SPI and dated the Closing Date to such effect.
Satisfaction of Loans. 45 10.11 Information. . . . . . . . . . . . . . . . . . . . . . . . . .45 Section 11 MISCELLANEOUS. . . . . . . . . . . . . . . . . . . . . . . . .45
Satisfaction of Loans. Agent may accept payment in full of the Loans according to their terms and shall be entitled to satisfy or assign the Notes upon such payment in full, but any such assignment shall be without recourse and without representation or warranty, either express or implied.
Satisfaction of Loans. Compositech hereby acknowledges the receipt of U.S. $500,000 (NTD $16,000,000) as a loan (the "Loan") from Technologies which amount was used to purchase 1,600,000 shares of the common stock of Technologies. Technologies and Compositech hereby agree that all shares of common stock of Technologies held of record by Compositech, including the 1,600,000 shares of common stock purchased and the Technical Investment Shares (as such term is defined in the Patent License Agreement) (the "Shares") shall be transferred as of the date hereof to Technologies on the books and records of Technologies in full satisfaction of all debts owed by Compositech to Technologies including, without limitation, the Loan. Technologies hereby acknowledges that no certificates representing the Shares were issued to Compositech and agrees that it will take all actions necessary to effect the transfer of the Shares on its books and records.
Satisfaction of Loans. Upon the Closing, Parent and Subsidiary shall have either: (i) paid in full the outstanding loans made by Xxxxxxx Xxxxxx and First Union National Bank to CAD and Shareholder, respectively; but in no event shall the liability of Parent and Subsidiary for the payment of such loans exceed four-hundred-fifty-thousand dollars ($450,000.00); or (ii) obtained a release from both Xxxxxxx Xxxxxx and First Union National Bank whereby each shall release Shareholder from all personal liability arising out of the respective loans.
Satisfaction of Loans. (a) All loans made by BLA and advances payable by BLA to any Person (including, without limitation, the Line of Credit) shall have been paid in full.
(b) All loans to any employee of BLA shall have been satisfied. At Closing, BLA’s Secretary shall have furnished WT a certificate as to BLA’s compliance with the foregoing.
Satisfaction of Loans. On and subject to the terms and conditions of this Agreement, the Company,Dynamotive, DTC and each of the Directors agree that each of the Loans (or such part thereof as shall be determined in accordance with Clause 5 of this Agreement) shall be acquired by DTC in consideration of the issue of Consideration Shares.
Satisfaction of Loans. Upon execution of this Agreement and performance of the covenants contained herein, and in consideration for the agreements and covenants made herein, the Parties agree that all accrued and unpaid interest on the Loans shall be cancelled and forgiven and all principal owed on the Loans shall be deemed fully satisfied.
Satisfaction of Loans. Agent shall have received evidence reasonably satisfactory to Agent that the existing $75,000,000.00 unsecured revolving credit facility agented by Xxxxx Fargo Bank to Price Enterprises, Inc. (Loan No. 5412SD) and the existing credit facility from Fleet to Excel Legacy Corporation have been satisfied.
