Special Advance Clause Samples

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 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 due and payable in a single lump sum on the earlier of 3 4 (i) the sale or other disposition of substantially all of the assets of Pete▇▇▇▇, ▇▇operty or Worldwide at public or private sale for cash or credit or (ii) October 15, 2000 (the "Special Advance Termination Date"); provided, however, that in the event Borrowers provide the Bank with a fully-executed definitive purchase agreement for Pete▇▇▇▇, Property and Worldwide, the Bank may consider extending the Special Advance Termination Date in its sole discretion. The proceeds of the Special Advance shall be used solely for purposes for which the proceeds of the Revolving Loans are authorized to be used. Upon the Special Advance Termination Date, the Special Advance shall terminate and shall no longer be included in the Revolving Loan Borrowing Base."

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 DIP Closing Date in the principal amount of ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000) (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) $150,000 on October 20, 2000, (ii) $150,000 on October 27, 2000, (iii) $150,000 on November 3, 2000, (iv) $150,000 on November 10, 2000, (v) $150,000 on November 17, 2000, (vi) $150,000 on November 24, 2000, (vii) $300,000 on December 1, 2000, and (viii) $300,000 on December 8, 2000;

Special Advance. On August 1, 2019, subject to the terms and conditions set forth in the Existing Credit Agreement, the Administrative Agent acquired, on behalf of the lenders party to the Existing Credit Agreement, all of the Assigned BankNote Property Mortgage Debt (such acquisition of the Assigned BankNote Property Mortgage Debt being referred to herein as the “BankNote Property Mortgage Debt Assignment”). Immediately upon consummation of the BankNote Property Mortgage Debt Assignment, among other things, the terms and provisions of the Assigned BankNote Property Mortgage Debt acquired by the Administrative Agent, on behalf of the Lenders (and the funds advanced by the Lenders in connection therewith) were automatically amended and restated and incorporated as, and on the Closing Date each lender party to the Existing Credit Agreement is severally holding a portion of, a loan owing from the Borrower to the Lenders (such loan being referred to herein as the “Special Advance”). Promptly following fulfillment of the conditions set forth in Article IV, if the Applicable Percentage of any Lender on the Closing Date is different than such Lender’s Applicable Percentage under (and as defined in) 59

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. 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. Borrower and Guarantor acknowledge and agree that Lender's initial advance under this Modification Agreement is the full amount of US$3,000,000 of which $1,400,000 is being used by Borrower and Guarantor for capital investment, with the remaining amount for cash flow on a temporary basis, and is subject to the following conditions: a. With respect to that certain Mexican Value Added Tax refund in the amount of approximately US$4,000,000 which Borrower anticipates to collect by no later than March 31, 2001 (the "VAT Refund"), Borrower shall, prior to depositing, cashing or otherwise utilizing the VAT Refund, either (a) provide sufficient evidence to Lender in order to establish that Borrower has invested at least US$1,400,000 in that certain Royale Mirage resort owned by Borrower, or (b) segregate at least US$1,400,000 of the VAT Refund in an escrow or other mechanism satisfactory to Lender for purposes of investing in the Royale Mirage resort. b. A management agreement and loan amendment for Royale Mirage satisfactory to Lender shall be executed by Guarantor by no later than December 8, 2000. c. All sources of payment of interest currently due under the Indenture have been identified and are currently available. d. The amendments to the three separate FINOVA Mortgages whereby Lender shall be added as second beneficiary in guaranty shall be executed contemporaneous with this Modification Agreement, and shall be presented to the Land Trustee and notary by no later than December 20, 2000 and recorded in the appropriate real property records immediately thereafter. e. Execution of the Lockbox Agreement contemporaneous herewith satisfactory to Lender.

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. 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."