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. (a) PROGRAM 645
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. 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. (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. 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. Sec- tion 1980.451 of this subpart will not apply to BID loans. Applicants eligible for Small Business Administration as- sistance will be advised of the avail- ability of that assistance.
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. Xxxxxxxx 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, Xxxxxxxx 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: Xxxxxx 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 Xxxxxx. 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 Xxxxxx and Xxxxxxxx, 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 Xxxxxxxx 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, Xxxxxxxx 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. The Company shall apply for 8(a) certification through the Small Business Administration (“SBA”) and operate to maintain its 8(a) eligibility throughout its term in the 8(a) Program.
Small Business Administration. (a) PROGRAM 645
(a) Offers are solicited only from (a) Offers are solicited only from small business concerns expressly certified by the Small business Administration (SBA) for participation in the SBA's 8(a) Program and which meet the following criteria at the time of submission of offer--
(1) The Offeror is in conformance with the 8(a) support limitation set forth in its approved business plan; and (2) The Offeror is in conformance with the Business Activity Targets set forth in its approved business plan or any remedial action directed by the SBA.
(b) By submission of its offer, the Offeror represents that it meets all of the criteria set forth in paragraph (a) of this clause.
(c) Any award resulting from this solicitation will be made to the Small Business Administration, which will subcontract performance to the successful 8(a) offeror selected through the evaluation criteria set forth in this solicitation.
(d) The ____________ [insert name of SBA's contractor] will notify the____________ [insert name of contracting agency] Contracting Officer in writing immediately upon entering an agreement (either oral or written) to transfer all or part of its stock. **** (USE BELOW WHEN COMPETITION IS LIMITED TO 8(a) CONCERNS WITHIN ONE OR MORE SPECIFIC SBA DISTRICT(S)/REGION(S) PURSUANT TO 19.804-3.) **** Alternate I , (Jan 2017) is added to FAR Clause 52.219-18, Notification of Competition Limited to Eligible 8(a) Concerns (Mar 2020) as follows:
