Small Business Administration Clause Samples
The Small Business Administration clause establishes requirements or preferences related to the involvement of small businesses in a contract or procurement process. Typically, this clause outlines obligations for contractors to consider or prioritize small business subcontractors, or it may set goals for small business participation. For example, it might require reporting on small business utilization or mandate outreach efforts to small, disadvantaged, or minority-owned businesses. The core function of this clause is to promote opportunities for small businesses, ensuring they have fair access to government or large-scale commercial contracts and fostering a diverse supplier base.
Small Business Administration. Agent and Lender have received a license from the U.S. Small Business Administration (“SBA”) to extend loans as a small business investment company (“SBIC”) pursuant to the Small Business Investment Act of 1958, as amended, and the associated regulations (collectively, the “SBIC Act”). Portions of the loan to Borrower will be made under the SBA license and the SBIC Act. Addendum 1 to this Agreement outlines various responsibilities of Agent, Lender and Borrower associated with an SBA loan, and such Addendum 1 is hereby incorporated in this Agreement.
Small Business Administration. So long as any Lender is an SBIC Lender, the Credit Parties shall, and shall cause their Subsidiaries to, within ten (10) days of receipt of request from any SBIC Lender, deliver to such SBIC Lender any information requested by the SBA.
Small Business Administration. (a) PROGRAM 645
Small Business Administration. Sec- tion 1980.451 (c) of this subpart will not apply to BIB loans. Applicants eligible for Small Business Administration as- sistance will be advised of the avail- ability of that assistance.
Small Business Administration. This acknowledgement of support must appear verbatim and may not be altered or replaced with substitute language. However, on materials with severe space constraints such as signs and banners, an SBDC may substitute “SBA” for “U.S. Small Business Administration” in the acknowledgement of support. The acknowledgement of support must be presented in a legible typeface, font size and - where applicable - color contrast. On materials for which an SBDC does not elect to use the SBA logo, it must at a minimum feature the acknowledgement of support listed above. The SBA logo and/or acknowledgement of support may not be used in connection with SBDC activities that are outside the scope of the Cooperative Agreement. In particular, UNDER NO CIRCUMSTANCES may the SBA logo or acknowledgement of support appear on items used in conjunction with fundraising; lobbying; or the express or implied endorsement of any good, service, entity or individual. Furthermore, where an SBDC produces materials which feature editorial content, it must use the following alternate acknowledgement of support (either independently or in conjunction with the SBA logo):
Small Business Administration. (a) On an ongoing basis on and after the Closing Date, for so long as Walnut beneficially owns shares of New Class B Preferred or Common Stock in the Company, the Company will use reasonable efforts to complete any forms and provide any non-confidential information that may be reasonably required by the Small Business Administration (“SBA”) in connection with the transactions contemplated by this Agreement.
(b) In addition to any other rights granted hereunder, the Company shall grant Walnut and the SBA access to the Company’s books and records for the purpose of verifying the use of such proceeds in verifying the certification made by the Company and the SBA Forms delivered by the Company prior to the Closing and for the purpose of determining whether the principal business activities of the Company continue to constitute “eligible business activities” (within the meaning of the SBA Regulations).
(c) Upon the occurrence of a transaction or series of transactions that constitutes a Regulatory Violation (as defined below) where the representatives of Walnut on the Company’s Board of Directors opposed (in Board votes) the transaction or series of transactions and warned the Company that a Regulatory Violation might occur, in addition to any other rights or remedies to which it may be entitled (whether under this Agreement, the Shareholders Agreement, the New Articles or otherwise), Walnut shall have the right, to the extent required under the SBA Regulations, to demand in writing that the Company shall cure such Regulatory Violation, and if such Regulatory Violation cannot be cured in a timely manner, to repurchase all of the outstanding New Class B Preferred owned by Walnut at a price equal to the purchase price paid for such securities hereunder plus all declared and unpaid dividends or distributions thereon by delivering written notice of such demand to the Company. The Company shall pay, to the extent permitted by law, the purchase price for such New Class B Preferred by a cashier’s or certified check or by wire transfer of immediately available federal funds to Walnut within ninety (90) days after the Company’s receipt of the demand notice and, upon such payment, Walnut shall deliver the certificates or other instruments evidencing the New Class B Preferred being repurchased by the Company duly endorsed for transfer or accompanied by duly executed forms of assignment free of any liens or adverse claims. For purposes of this Agreement, “Regulatory Violat...
Small Business Administration. (a) On an ongoing basis on and after the Closing Date, for so long as Walnut beneficially owns shares of New Class B Preferred or Common Stock in the Company, the Company will use reasonable efforts to complete any forms and provide any non-confidential information that may be reasonably required by the Small Business Administration (“SBA”) in connection with the transactions contemplated by this Agreement.
(b) In addition to any other rights granted hereunder, the Company shall grant Walnut and the SBA access to the Company’s books and records for the purpose of verifying the use of such proceeds in verifying the certification made by the Company and the SBA Forms delivered by the Company prior to the Closing and for the purpose of determining whether the principal business activities of the Company continue to constitute “eligible business activities” (within the meaning of the SBA Regulations).
(c) Upon the occurrence of a transaction or series of transactions that constitutes a Regulatory Violation (as defined below) where the representatives of
Small Business Administration. The Company shall have ----------------------------- furnished to each Purchaser that is an SBIC all forms which such Purchaser shall have informed the Company are required by the Small Business Administration in connection with the transactions contemplated hereby, including without limitation, a Size Status Declaration on SBA Form 480, an Assurance of Compliance on SBA Form 652, a Portfolio Financing Report on Form 1031 and an SBA Sideletter, which forms shall be in proper form for filing with the Small Business Administration.
Small Business Administration. If the application is denied, the Note and the Credit Agreement will have no force and effect. If the application is approved, the Lender will provide a Confirmation Letter to Borrower that will establish the Maturity Date of the Loan. ▇▇▇▇▇▇▇▇ further agrees, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, as follows: PROMISE TO PAY: In return for the Loan, ▇▇▇▇▇▇▇▇ promises to pay to Zions Bancorporation, N.A. dba ("Lender"), the principal amount of in lawful money of the United States of America, plus interest on the unpaid principal balance, and all other amounts required by this Note. CONFIRMED LOAN TERMS: ▇▇▇▇▇▇ must obtain a SBA loan number and Lender must provide Borrower a letter (the “Confirmation Letter”) confirming certain loan terms, as conditions to the Loan becoming approved by ▇▇▇▇▇▇. The Confirmation Letter will set forth general terms of the Loan, including, without limitation, the principal amount, the loan type, the Loan Origination Date, Loan Maturity, and other miscellaneous terms. This Note and the Confirmation Letter, together with the Credit Agreement (which is included with the Paycheck Protection Program (PPP) Loan Application and Agreement (the “Application”), set forth the terms and conditions which shall govern the Loan. All of the terms and conditions of the Confirmation Letter and the Credit Agreement are hereby incorporated in this Note by reference and represent the final agreement between ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇, and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreement of the parties. References to this Note shall include the Confirmation Letter and the Credit Agreement as applicable. Acceptance of the Loan proceeds by ▇▇▇▇▇▇▇▇ shall further evidence that the Loan is governed by the Confirmation Letter. This Note, the Confirmation Letter, the Credit Agreement, the Business Lending Resolutions, and any and all other documents, instruments, or agreements executed and/or delivered in connection with the Loan shall be collectively referred to as the “Loan Documents”. By signing below, ▇▇▇▇▇▇▇▇ agrees to be bound by all of the terms of the Loan Documents, as amended and modified from time to time. DEFINITIONS: “CARES Act” means the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136), as amended. “Deferment Period” shall be the earlier of (i) the date on which the amount of forgiveness determined under section 1106 of the CARES Ac...
Small Business Administration. For so long as the SBA Lender has any Term Loan Exposure, each Credit Party shall, and shall cause each of its Subsidiaries to, within 30 days of receipt of request from the SBA Lender, deliver to the SBA Lender any information requested by the SBA and will provide to each SBIC Lender (upon reasonable notice and during normal business hours) and the U.S. Small Business Administration access to such Credit Party’s books and records for the purpose of confirming that such Credit Party is in regulatory compliance with the SBIC Act and related regulations. For a period of one year following the date hereof, no Credit Party will change its business activity if such change would cause it to have more than 49% of its tangible assets or employees located outside of the United States. Each Credit Party will at all times comply with the non-discrimination requirements of Parts 112, 113 and 117 of Title 13 of the United States Code of Federal Regulations. Upon the request of a SBA Lender, the Credit Parties promptly (and in any event within twenty (20) days of such request) will provide to such SBA Lender an assessment, in form and substance satisfactory to such SBA Lender, of the economic impact of the portion of the Term Loans provided by such SBA Lender, specifying the full-time equivalent jobs created or retained, the impact of the portion of the Term Loans provided by such SBA Lender on such Credit Party’s business, in terms of expanded revenue and profits, and on taxes paid by the business and its employees.