Secured Loans Clause Samples

Secured Loans. The Lenders hereby agree that: (i) 60% of the aggregate principal amount of the Secured Loans made by the Lenders to a single Investee shall be made by, and shall be repayable by the Investee to TD, and 40% of the aggregate principal amount of Secured Loans made by the Lenders to a single Investee shall be made by, and shall be repayable by the Investee to Sirrom (regardless of whether such principal repayment is made before, after or upon scheduled maturity, or before or after default, or through a realization on any Secured Loan Security or other enforcement of the Investment Agreements governing the Secured Loans made to the Investee or the Secured Loan Security therefor or otherwise, or as a Loan Recovery Amount); and (ii) notwithstanding that an Investee to whom Secured Loans are made will be required by the relevant Investment Agreements to pay interest on the aggregate principal amount of the Secured Loans to such Investee outstanding during a particular period, calculated at a single rate (the "Investee Rate") for such period: (A) the effective rate of interest which TD shall be entitled to receive on the principal amount of the Secured Loan made by TD to that particular Investee outstanding during such period shall be the result obtained by multiplying 58/60 by the Investee Rate; and (B) the effective rate of interest which Sirrom shall be entitled to receive on the principal amount of the Secured Loan made by Sirrom to that particular Investee outstanding during such relevant period shall be the result obtained when the amount of interest payable to TD for such period, calculated as provided in paragraph 5.1(a)(ii)(A), is subtracted from the total amount of interest payable by the Investee pursuant to the Investment Agreements on the total aggregate principal amount of all Secured Loans to that Investee outstanding during such period, and the result is divided by the principal amount of the Secured Loan made by Sirrom to such Investee outstanding during such period. Each dollar of principal or interest, as the case may be, paid by an Investee (or out of the assets of an Investee or any other Person) on account of Secured Loans made to such Investee by the Lenders shall be deemed to be a payment made to TD and Sirrom, on account of the outstanding principal amount of their respective Secured Loans, or interest thereon, as the case may be, in the proportions set forth in paragraphs (i) or (ii) above, as applicable, and shall be distributed forthwit...

Secured Loans. The obligation of each Lender to make a Secured Loan on the occasion of any Borrowing is subject to the conditions that the Security Agreement and the Control Agreement shall be in full force and effect, and the Collateral Requirement shall be satisfied after giving effect to such Secured Loans.

Secured Loans. Unless the Closing or the Termination Date shall have earlier occurred, Purchaser shall make secured loans to The Wiz Distributors, Ltd. in the amounts and on the dates set forth in Schedule 2.6(b)-A. Unless the Closing or the Termination Date shall have earlier occurred, the advances scheduled for January 30, 1998 shall be conditioned on and made immediately following the issuance of the Amended DIP Financing Order and the advances scheduled for February 3, 1998 shall be conditioned on and made immediately following the issuance of the Approval Order (as hereinafter defined). Each subsequent secured advance shall be conditional upon the previous receipt of the orders mentioned in the previous sentence. Each secured loan provided by this Section 2.6(b) shall be made pursuant to the Amended DIP Financing Arrangements and shall have the following additional terms: (i) Sellers' obligation to repay the loans will be evidenced by a secured promissory note in the form attached hereto as Schedule 2.6(b)-B; (ii) Sellers' obligation to repay the loans, and accrued interest thereon, shall be secured by a post-petition lien and security interest pursuant to Section 364(c)(3) of the Bankruptcy Code in all of the "Collateral" (as defined in the DIP Financing Arrangements and any additional collateral provided for in any amendment thereto) and all such indebtedness of Sellers to Purchaser shall be granted an allowed super-priority administrative expense claim in accordance with Section 364(c)(1) of the Bankruptcy Code having priority in right of payment over any and all administrative expenses or priority claims of the kind specified in, or ordered pursuant to, Sections 330, 331, 503(b), 506(c) or 507(b) of the Bankruptcy Code as provided in the Amended DIP Financing Order); provided, however, that Purchaser shall not, as a result of the secured loan, have a lien on, or recourse to, any avoidance or other actions of the Sellers' bankruptcy estates; (iii) If this Agreement terminates for any reason except as provided in Section 7.1(b) the liens granted by Sellers with respect to the loans shall be subordinate to the payment in full of the Congress Advances, the Paragon Advances and, to the extent such liens are valid and perfected, the claims, not exceeding $1.5 million (plus interest and fees) asserted by Sanwa. (iv) The loans under this Section 2.6(b) will be forgiven in full at the Closing except to the extent that the Purchase Price specified in Section 2.6(a)(ii) an...

Secured Loans. All Initial Loans to Borrower and all of the other Obligations in respect thereof shall be secured, until the Initial Loan Termination Date, by all of the Collateral. All June 2007 Loans to Borrower and all of the other Obligations in respect thereof shall be secured, until the June 2007 Loan Termination Date, by all of the Collateral. All Supplemental Loans to Borrower and all of the other Obligations in respect thereof shall be secured, until the Supplemental Loan Termination Date, by all of the Collateral. All Convertible Term A Loans to Borrower and all of the other Obligations in respect thereof shall be secured, until the Convertible Term A Loan Termination Date, by all of the Collateral. All Convertible Term B Loans to Borrower and all of the other Obligations in respect thereof shall be secured, until the Convertible Term B Loan Termination Date, by all of the Collateral. All Convertible Term C Loans to Borrower and all of the other Obligations in respect thereof shall be secured, until the Convertible Term C Loan Termination Date, by all of the Collateral.

Secured Loans. The Borrower’s obligations in connection with the Loan Limit Advances will be secured by the grant by the Borrower of all of the Borrower’s right, title and interest in and to the Collateral, in each case, pursuant to the Loan Documents.

Secured Loans. If a Person that was not previously a party to this Agreement extends any such Additional Loan, it will be required to be made a party to this Agreement by executing the amendment reflecting the terms of such Additional Loans and adding such Person as a Lender. The terms of such Additional Loans must be identical to the terms of the Initial Loans except that the interest due on Additional Loans will accrue from the date such Additional Loan is made and Additional Loans may have a different interest rate than the Initial Loans; provided that the spread over the Reference Rate of any such Additional Loan will not be greater than the spread over the Reference Rate applicable to the Initial Loans. This Agreement will be amended to reflect the terms of any Additional Loans in accordance with Section 7.11(b).

Secured Loans. All Loans to Borrower and all of the other Obligations shall be secured, until the Termination Date, by all of the Collateral.

Secured Loans. Subject to the terms and conditions set forth herein (including the conditions set forth in Sections 3.1 and 3.2), the Lender shall make advances (each an “Advance”) to the Borrower, from time to time from and after the Closing Date, as the Borrower may request in writing, which shall be deposited into the Securities Account, and the Lender will record such Advance on Schedule C hereto promptly upon the funding of such Advance. Once funded, each Advance shall form part of the Tranche A Term Loan or the Tranche B Term Loan as indicated on Schedule C hereto.

Secured Loans. To the extent applicable, the Servicer’s duties described above in this Section 1.A.(b) shall include the Secured Loans.