Special Advance. The Service may grant special advance to members of the Service in the event of verified death of an employee’s father, mother, spouse, child or in the case of theft, fire or such mishap. An employee on application may be considered for not more than two (2) months’ salary advance. Repayment of such advance shall commence after two
Special Advance. Borrowers shall be deemed to have requested an Advance under the Line of Credit in accordance with the terms of Paragraph 2.1.3 of the Loan Agreement in the amount of Three Million ($3,000,000) Dollars contemporaneously with the closing of the Subject Transactions (the "Special Advance"), notwithstanding the provisions of Paragraph 2.
1.1 thereof to the contrary, the proceeds of which shall prepay Borrower's obligations under the Term Loan in the amount of the Special Advance. The proceeds of the Special Advance shall be applied by the Lender against the principal portion of the Indebtedness under the Term Loan in inverse order of maturity, i.
e. applying such Special Advance payment as a credit against the last installments of principal then due under the Term Loan.
Special Advance. Subject to the mandatory prepayment requirements of Subsection 2(f)(i) hereof, the Special Advance shall be repaid in consecutive monthly installments as follows: (A) $50,000 on the last day of October, November and December 2003 and January 2004, (B) 25% of the remaining balance thereof (as of February 1, 2004) on each of February 15, March 1, and March 15, and (C) the remaining balance on the Special Advance Maturity Date; subject in any event to earlier acceleration upon the occurrence and during the continuance of an Event of Default as provided in Section 16 or upon termination of this Agreement as provided in Section 10. Payments (including prepayments) on the Special Advance may not be re-borrowed."
Special Advance. Subject to the terms and conditions of this Agreement and the Other Agreements, on the Second Amendment Effective Date, Lender shall make a special accommodation advance to Borrowers in an aggregate amount equal to One Million Two Hundred Fifty Thousand Dollars ($1,250,000) (the `Special Advance'). The proceeds of the Special Advance shall be used solely for the working capital of Borrowers."
Special Advance. Subject to the terms and conditions of this Agreement, Bank, in its discretion exercised in good faith, may make a loan (the "Special Advance") to Borrowers in the principal amount of $350,000. The proceeds of the Special Advance shall be used by Borrowers only for working capital purposes. Subject to the terms of Section 11.4, the principal of the Special Advance shall be due and payable $100,000 on May 11, 1998, $100,000 on May 18, 1998 and $150,000 on May 30, 1998. No part of the Special Advance may, on the repayment thereof, be redrawn or reborrowed by Borrowers.
b. AMENDMENT OF SECTION 3.1(ii). Clause (ii) of Section 3.1 of the Financing Agreement is amended to provide in its entirety as follows:
Special Advance. Subject to all of the terms and conditions of this Agreement, Bank agrees to include as part of the Revolving Credit Commitment, a special advance to Borrowers on the First Amendment Effective Date in the principal amount of FOUR MILLION DOLLARS ($4,000,000) (the "Special Advance"), which shall bear interest in accordance with Section 4.1, shall be secured by all of the Collateral as provided for herein, and shall be secured by all of the Collateral as provided herein, and shall be due and payable as follows: (i) $2,000,000 on the Second Amendment Effective Date, (ii) $500,000 on the earlier of October 16, 2000 and the date on which any payments are first made pursuant to any Schotteinstein Agreements, (iv) $300,000 on October 20, 2000, (v) $300,000 on October 27, 2000, (vi) $300,000 on November 3, 2000, (vi) $300,000 on November 10, 2000, and (vii) $300,000 on November 17, 2000; provided, however, that any unpaid portion of the Special Advance shall be due and payable at any time all other Borrowers' Liabilities are due and payable pursuant to Section 12.3 hereof.
(c) Schedule 11.2(f)(iv) of the Existing Loan Agreement is hereby amended to change the maximum Revolving Loan amount (including all Letters of Credit) for the month of October, 2000 from "$41,000" to "$45,000"
(d) Schedule 7.5 to the Existing Loan Agreement is hereby deleted and the Amended Schedule 7.5 attached hereto is hereby substituted in lieu thereof.
Special Advance. Lender's initial Advance under Tranche C of the Loan pursuant to the terms of this Third Modification Agreement is subject to the following conditions:
a. The executed amendment to the FINOVA Mortgage presently encumbering the Club Regina Resort at Acapulco xxxxxby Lender has been added as second beneficiary in guaranty (the "Acapulco Mortgage") shall be recorded in the appropriate real property records by no late than October 15, 2001.
b. Final lender's title insurance policy acceptable to Lender for the Club Regina Resort at Acapulco xx xx later than October 15, 2001.
c. Execute amendment to pledge on Pledged Notes Receivable to incorporate Tranche C of the Loan by no later than October 15, 2001.
d. Establish separate Mexican lockbox agreement for Tranche C of the Loan by no later than by no later than October 15, 2001 .
Special Advance. Subject to the terms and conditions of this Agreement, Bank, in its discretion exercised in good faith, may make a loan (the "Special Advance") to Borrowers in the principal amount of $250,000. The proceeds of the Special Advance shall be used by Borrowers only for working capital purposes. No part of the Special Advance may, on the repayment thereof, be redrawn or reborrowed by Borrowers. Unless an earlier termination of this Agreement occurs pursuant to Section 11, the entire principal balance of, and accrued interest on, the Special Advance, if not sooner repaid, will be due and payable on January 16, 1998.
Special Advance. On the Closing Date, subject to fulfillment of all conditions precedent set forth herein, Lender shall make a one-time special advance, equal in principal amount to Two Hundred Thousand Dollars ($200,000) to Borrower (the "Special Advance"), the entire proceeds of which shall be disbursed to Borrower on the Closing Date and be used to pay an early termination fee or charge to the Existing Lender in connection with the refinancing of the Debt due it on the Closing Date. The Special Advance shall be repaid in thirty-six (36) installments of Five Thousand Five Hundred Fifty-Five Dollars ($5,555) per month, beginning on December 1, 2001, and continuing on the first day of each succeeding calendar month (except that the last such installment shall be in that amount necessary to pay in full the Special Advance), and shall be subject to earlier, mandatory prepayment, in full, upon any acceleration of the maturities of the Obligations pursuant to Section 9.
1. The Special Advance shall bear interest until paid in full at an interest equal to the Applicable Rate, due and payable monthly in arrears, beginning on December 1, 2001, and continuing on the same day of each succeeding calendar month (for the preceding calendar month). All payments of principal of and accrued interest on the Special Advance shall be charged as Advances, as and when the same become due and payable, whether or not the Borrowing Base Requirement is violated as a result thereof, and Lender shall pay itself from the proceeds of such Advance. The Debt represented by the Special Advance shall not be evidenced by a promissory note, initially; but, at its option, Lender may require hereafter that a promissory note be issued in regard thereto by Borrower to evidence the Debt then represented thereby.
Special Advance. Lessee will place into the trust account of its attorney, serving as an escrow, the total sum of $160,000.00, for payment to tenants as follows: To Xxxxxxx: $25,000.00 To Xxxxxx: $75,000.00 To Beer and Xxxxxx: $60,000.00 The first $155,000.00 of such sum paid out shall be credited as advance payment of rent. The remaining $5000.00 is Lessee's contribution to the buyouts. The condition for the disbursement is that the tenant to be paid has in fact vacated and surrendered possession, as verified by a signed and notarized writing by the tenant acknowledging surrender and termination of leasehold rights. One alternate original of each such writing shall be delivered to the escrow prior to disbursement; but it is not necessary that all three tenants have vacated in order to authorize the payment to any one tenant. To the extent that Lessor had advanced any portion of the above tenant buyout sums, it shall be reimbursed from the funds in escrow. Moneys still held by the escrow on February 1, 1995 shall be returned to Lessee. Lessee shall have right of possession for a period not less than the period corresponding to the rents so prepaid (which period will depend on whether and when full possession is delivered). If full possession has not been provided to Lessee by the end of such period, Lessee thereafter has the right, for the next 30 days, to terminate this lease or to confirm it on these same terms. Thereafter, either party may terminate this lease on 180 days written notice to the other. Upon such termination, sums advanced by Lessee, including against future rent, shall be reimbursed by Lessor to Lessee. Lessee's agreement to advance rents under this Section is personal to Lessor, and cannot be assigned. In the event of cancellation, termination, rescission or other event which prevents application of amounts advanced to ongoing rents until fully offset, Lessor shall repay to Lessee the portion of such advance which has not been offset, together with interest at the rate fixed for judgments, accruing from the date of the event. The provisions of Section Eighteen regarding mediation, legal action and attorneys fees shall apply to the implementation or, or disputes regarding, the repayment of rent advances provided in this Section.
