Short Term Loan. No later than one (1) Business Day prior to the Closing Date, Target shall obtain the Short Term Loan and will sign the Short Term Loan Documents as may be reasonably requested by Wachovia Bank, N.A. or Acquiror. The Short Term Loan Documents shall be subject to Acquiror’s prior written approval, which may be withheld in its reasonable discretion. The proceeds of the Short Term Loan will be used to repay in full the Existing Office Indebtedness and certain other obligations of Target. All liens securing the Existing Office Indebtedness shall be released at the time of the closing of the Short Term Loan. The Short Term Loan may be secured by a lien on the ownership interests of Target or Target Subsidiaries, provided that such lien is released upon the guaranty by Acquiror OP of the Short Term Loan.
Short Term Loan. During the first quarter of 2019, a Japan subsidiary had repaid the loan from financial institution in full amount of Yen 300 million. During the year 2019, a China subsidiary had short-term loan from financial institution in the amount of Yuan 8 million with interest rate at 5.655% per annum, maturity less than one year. The loan is guaranteed by the construction on the subsidiary’s land leasehold. The subsidiary had repaid the loan fully amount in the fourth quarter of 2019.
Short Term Loan. The proceeds of the Short-Term Loan shall be --------------- deposited into the deposit account referred to in subsection 2.9 and thereafter applied (i) if the Tack-on Notes are issued, to (a) repurchase receivables sold pursuant to the Receivables Purchase Agreement, dated as of April 19, 2000, between Company and JPMorgan Chase Bank in order to terminate such agreement and (b) prepay outstanding Swing Line Loans and Revolving Loans in accordance with subsection 2.4B(i) or (ii) if the Tack-on Notes are not issued, to pay or prepay the Short-Term Loan.
Short Term Loan. The parties acknowledge that the Company is loaning to Employee the sum of $100,000, which loan is being evidenced by a Demand Recourse Promissory Note in the form attached hereto as Annex E.
Short Term Loan. The aggregate outstanding principal balance under the Short Term Loan on the Short Term Commitment Termination Date, together with all outstanding interest, fees and costs due hereunder with respect to the Short Term Loan, shall be due and payable in full on November __, 1998. Notwithstanding the immediately preceding sentence, the aggregate outstanding balance of the Loan shall be due and payable immediately upon acceleration of the Short Term Loan in accordance with Paragraph 8.2 hereof.
Short Term Loan. The loan to Myriad from Goldxxxxx xxxl be for a term of three months (3) and will bear interest at the rate of eight and one-half per cent (8 1/2%). The loan will be secured by a promissory note, a copy of which is attached to this agreement
Short Term Loan. Subject to the terms and conditions hereof, the Lender agrees to make a loan to Borrowers in a single advance on October 31, 1997, in the amount of $500,000 (the 'Short Term Loan'). The Short Term Loan shall be secured by
Short Term Loan. The Parties acknowledge and agree that, notwithstanding the portion of the Purchase Price actually paid at each Closing, the amount of the sum of the Purchase Price paid by Buyers with respect to the Purchased Assets and Business of Sellers shall be allocated between Sellers as follows: Omega - 66.67%; and Bango Refining - 33.33%. Accordingly, the Parties agree that the amount by which the Closing Cash Payment made plus the portion of the Closing Stock Consideration issued at the Initial Closing exceeds Omega's portion of the Purchase Price, plus the amount of any loans provided by Buyers to Sellers pursuant to Section 9.20 below, shall be deemed a loan made by Buyers jointly and severally to Sellers in the principal amount of such sum (the sum of all such amounts is referred to as the "Loan Amount"), which original Loan Amount shall be reflected on the Closing Statement delivered by the Parties at the Initial Closing. The Loan Amount shall be evidenced by a promissory note in substantially the form attached hereto as Exhibit A (the "Seller Note") which shall not bear interest for the six month period following the Initial Closing and shall be paid in full in connection with the Second Closing as part of the transactions occurring at such Closing. In the event the Second Closing does not occur within six months of the Initial Closing, then the Loan Amount shall bear interest thereafter at a rate equal to 9.5% per annum, which interest shall thereafter be payable by Sellers to Buyers on a monthly basis commencing on the seven month anniversary of the Initial Closing Date and continuing on the same day of each subsequent month until the Second Closing. Such interest payments shall be paid by wire transfer in immediately available funds to the account designated by Buyers. To secure Sellers' prompt payment and performance of the Secured Obligations (as defined below), Bango Refining, effective as of the Effective Time of the Initial Closing, pledges, assigns and grants to Vertex, a security interest in all of Bango Refining's right, title and interest in, to and under all of the assets of Bango Refining, regardless of where located (all of which will be collectively referred to as the "Collateral"), including: (i) all accounts and accounts receivable; (ii) all chattel paper; (iii) all documents; (iv) all equipment; (v) all buildings, fixtures and other leasehold improvements; (vi) all general intangibles; (vii) all goods; (viii) all instruments; (ix) all inve...
Short Term Loan. (a) The Initial Loan Proceeds, together with the Additional Loan Proceeds (as hereafter defined), are sometimes hereinafter jointly referred to as the "Loan Amount". Subject to the terms hereof: E2E (i) shall make available to the Company additional funds (the "Additional Loan Proceeds") of up to $1,800,000, and (ii) agrees that, unless (A) the Company fails to provide its president's certificate as required in this Section 1, (B) the Company is in default of any of the terms of this Agreement, the Note (as hereinafter defined) or the Merger Agreement, or (C) E2E receives a notice from the Company's president requesting E2E to delay making a disbursement or reduce the amount of any disbursement of the Additional Loan Proceeds, E2E will automatically make disbursements of the Additional Loan Proceeds to the Company in an aggregate amount not to exceed $1,600,000 as follows:
Short Term Loan. Vast Solar will use funds raised under the Proposed Capital Raising, the Shares and the Convertible Notes No 5 to repay the Short Term Loan and interest accrued under the Loan Agreement. This can occur by direction.
