SBA Loan. The Lender is not attempting to enroll any portion of an SBA guaranteed loan without obtaining the MSF’s express prior written consent.
SBA Loan. The Loan secured by this lien was made under a United States Small Business Administration (SBA) nationwide program which uses tax dollars to assist small business owners. If the United States is seeking to enforce this document, then under SBA regulations:
SBA Loan. No portion of the Loan shall represent any unguaranteed portion of an SBA-guaranteed loan without IHFA obtaining the express prior written consent of the Treasury.
SBA Loan. In the event that such SBA Loan is modified, such Borrower shall forward a copy of such modification to the Lender.
SBA Loan. From and after the date of the repayment of the -------- SBA Loan described in Section 5.17, the Borrower shall (i) cause all assets of BUCA (DT Milwaukee), Inc. subject to any Lien securing the SBA Loan to become subject to a first priority Lien thereon in favor of the Agent for itself and for the benefit of the Banks to secure the Obligations, pursuant to a Security Agreement (Guarantor) and related UCC financing statements for filing in such jurisdictions as the Agent shall request, all duly executed by BUCA (DT Milwaukee), Inc., and (ii) deliver to the Agent a duly executed amendment to the Pledge Agreement in respect of the capital stock of BUCA (DT Milwaukee), Inc., in form and substance reasonably satisfactory to the Agent, together with the stock certificates representing the Borrower's ownership of 100% of the shares of BUCA (DT Milwaukee), Inc. (together with stock powers related thereto).
SBA Loan. Either (i) the holder of the SBA Loan shall have consented to the assumption of such loan by Parent Corporation or Acquiring Corporation, or (ii) Parent Corporation or Acquiring Corporation shall have discharged the entire principal of and all interest on such loan at or prior to the Effective Time. (e)
SBA Loan. The sum of Five Hundred Eighty Five Thousand and No/100 Dollars ($585,000.00), subject to adjustment as set forth below, shall be paid by Buyer repaying, or causing to be repaid, on the Closing Date (as defined below) the existing SBA Loan (herein so called) to Seller with a principal balance in the approximate amount of Five Hundred Eighty Five Thousand and No/100 Dollars ($585,000.00); the SBA Loan is evidenced by that certain promissory note dated March 7, 1997, in the original principal amount of Six Hundred Thousand and No/100 Dollars ($600,000.00);
SBA Loan. The Servicer shall give written notice to the Trustee that such substitution has taken place and shall amend the SBA Loan Schedule to reflect the removal of such Deleted SBA Loan from the terms of this Agreement and the substitution of the Qualified Substitute SBA Loan or Loans. Upon such substitution, such Qualified Substitute SBA Loan or Loans shall be subject to the terms of this Agreement in all respects, including Sections 2.04 and 2.05, and the Seller shall be deemed to have made with respect to such Qualified Substitute SBA Loan or Loans, as of the date of substitution, the covenants, representations and warranties set forth in Sections 3.01 and 3.02. On the date of such substitution, the Seller will remit to the Servicer, and the Servicer will deposit into the Principal and Interest Account an amount equal to the Substitution Adjustment. In addition to the cure, purchase and substitution obligation in Section 2.05 and this Section 3.03, the Seller shall indemnify and hold harmless the Trust Fund, the Trustee and the Certificateholders against any loss, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses resulting from any claim, demand, defense or assertion based on or grounded upon, or resulting from, a breach of the Seller's representations and warranties contained in this Agreement. It is understood and agreed that the obligations of the Seller set forth in Sections 2.05 and 3.03 to cure, purchase or substitute for a defective SBA Loan and to indemnify the Certificateholders and the Trustee as provided in Sections 2.05 and 3.03 constitute the sole remedies of the Trustee and the Certificateholders respecting a breach of the foregoing representations and warranties. Any cause of action against the Servicer or the Seller relating to or arising out of the breach of any representations and warranties made in Sections 2.05, 3.01 or 3.02 shall accrue as to any SBA Loan upon (i) discovery of such breach by any party and notice thereof to the Seller and or notice thereof by the Seller to the Trustee, (ii) failure by the Seller to cure such breach or purchase or substitute such SBA Loan as specified above, and (iii) demand upon the Seller by the Trustee for all amounts payable hereunder in respect of such SBA Loan.
SBA Loan. Pursuant to Section 6 (c) of the Employment Agreement, VL shall continue to maintain the indemnity on the SBA Loan (as such term is defined in the Stock Purchase Agreement); provided however, such indemnity will not apply in the event that Employee, either directly or indirectly, causes a default to be called by Commerce Bank (or any successor) on such loan. Employee shall not be in default of this Agreement as a result of providing truthful testimony or information should there by an inquiry from Commerce Bank, or a court or administrative agency of competent jurisdiction regarding the SBA Loan. Notwithstanding the preceding, all inquiries shall be subject to the provisions of Paragraph 4 (i) below.
SBA Loan. Paid in Full (Servicer hereby certifies that all amounts received in connection therewith will be credited to the Principal and Interest Account and will be remitted to the Indenture Trustee for deposit into the Note Distribution Account pursuant to the Sale and Servicing Agreement upon receipt of funds from an attorney's escrow account or a title insurance company account.)
