Subordinated Loans Sample Clauses

Subordinated Loans. On the Effective Date, the Lender shall make subordinated term loans to the Borrower consisting of (a) a $[ · ] tranche A-1 subordinated term loan (the “A-1 Subordinated Loan”), (b) a $[ · ] tranche A-2 subordinated term loan (the “A-2 Subordinated Loan”) and (c) a $[ · ] tranche A-3 subordinated term loan (the “A-3 Subordinated Loan”; each of the A-1 Subordinated Loan, the A-2 Subordinated Loan and the A-3 Subordinated Loan, a “Subordinated Loan Tranche”, and, the A-1 Subordinated Loan, the A-2 Subordinated Loan and the A-3 Subordinated Loan, collectively, the “Subordinated Loans”). The Borrower shall on the Effective Date apply all of the proceeds of the Subordinated Loans to acquire newly issued OpCo LLC Interests from the Lender for an aggregate consideration equal to the aggregate principal amount of the Subordinated Loans. The Borrower and the Lender agree that the purchase price for the OpCo LLC Interests may be netted from the proceeds of the Subordinated Loans made on the Effective Date, and therefore the making of the Subordinated Loans and the issuance and purchase of the OpCo LLC Interests shall be a cashless transaction. The Borrower agrees that notwithstanding that no cash may be funded by the Initial Borrower on the Effective Date, it has received good and valuable consideration for its borrowing (or deemed borrowing) of the Subordinated Loans hereunder and the Subordinated Loans shall be a valid and enforceable debt obligation of the Borrower on the terms set forth herein.

Subordinated Loans. Except as described in the Registration Statement, any Preliminary Prospectus, the Statutory Prospectus and the Prospectus, to the knowledge of the Company, no Company Affiliate has made a subordinated loan to any member of the FINRA.

Subordinated Loans. If the Shareholders' obligations under this Clause are fulfilled by means of loans to the Borrower (whether from any of or all the Shareholders or from some other party), each of the Borrower and the Shareholders agrees that such loans shall:- (1) be unsecured; (2) not be subject to any payment of interest until after the Discharge Date (although interest may accrue on it prior to the Discharge Date); and (3) be subordinated to the Senior Indebtedness in the manner set out in this Agreement (Provided that, notwithstanding anything to the contrary contained in this Agreement, the aggregate amount of such loans which shall be subordinated to the Senior Indebtedness in the manner set out in this Agreement shall not exceed the difference between S$720,000,000 and the aggregate amount of Shareholding Funding provided by the Shareholders by way of subscription moneys for shares).

Subordinated Loans. L▇▇▇▇▇ hereby agrees to lend to B▇▇▇▇▇▇▇, and B▇▇▇▇▇▇▇ hereby agrees to borrow from Lender, on the Effective Date, upon the terms, conditions, representations, warranties and covenants contained in this Agreement and the other Loan Documents, the Subordinated Loans. The Subordinated Loans shall be funded (or deemed funded) in U.S. dollars. Payments or repayments by Borrower which reduce the outstanding principal balance of the Subordinated Loans may not be re-borrowed. This Agreement and any other documents or instruments entered into by the parties in connection herewith are referred to herein as the “Loan Documents.”

Subordinated Loans. Prior to the Facility Substantial Completion Date, the Subordinated Loans shall bear interest at a per annum rate of 13.0%, compounded quarterly. From and including the Facility Substantial Completion Date until the Maturity Date, the Subordinated Loans shall bear interest at a per annum rate of 13.5%, compounded quarterly.

Subordinated Loans. In order to facilitate the Merger, each of the Original Shareholders has agreed pursuant to the terms of the Merger Agreement to each make a loan to the Company in amounts that will aggregate $1,875,200.00 (collectively, the “Original Shareholders Subordinated Loan”). The Original Shareholders Subordinated Loan shall be funded by the deferral of cash consideration that would have otherwise been payable to such Original Shareholders in the Merger, and shall be effective as of the closing of the Merger. The Investor hereby agrees to make a loan in the same amount and on the same terms as the Original Shareholders Subordinated Loan (the “Investor Subordinated Loan”), which shall be funded by deposit with the Escrow Agent and shall be effective as of Closing. The “Original Shareholders Subordinated Loan” and the “Investor Subordinated Loan” are hereinafter collectively referred to the “Subordinated Loans.” Both Subordinated Loans shall be evidenced by Subordinated Promissory Notes in the forms attached hereto collectively as Exhibit C (the “Subordinated Promissory Note”), and shall be subordinated to claims of Senior Debt (as such term is defined in the Subordinated Promissory Note) of the Company pursuant to the terms of the Subordinated Promissory Note; provided, however, that the Investor Subordinated Promissory Note, the Original Shareholders Subordinated Promissory Note, the Merger Note, and the Dividend Notes shall rank pari passu each between and among each other. The Subordinated Loans shall be unsecured, bear interest at the prime rate of interest as published by Bank of America plus two percent (2%) per annum payable quarterly, and mature fifteen (15) months from the Closing Date. The Company shall cause the Investor Subordinated Promissory Note to be issued to the Investor upon the release of the amount of such loan to the Company by the Escrow Agent pursuant to the terms of the Escrow Agreement.

Subordinated Loans. At any time, directly or indirectly, (a) pay, prepay, repurchase, redeem, retire or otherwise acquire, or make any payment on account of any principal of, interest on or premium payable in connection with the repayment or redemption of any of the Put Subordinated Notes, or (b) amend or modify any of the Subordinated Credit Documents, in each case except as expressly permitted by the Subordination Agreement.

Subordinated Loans. (a) Except as permitted under paragraph (b) below, the Borrower shall not (and will ensure that no other Group Member will): (i) repay or prepay any principal amount (or capitalised interest) outstanding under the Vendor Note or any New Shareholder Injection by way of debt; (ii) pay any interest, fee or charge accrued or due under the Vendor Note or any New Shareholder Injection by way of debt; or (iii) purchase, redeem, defease or discharge any of any Vendor Note, any Parent Loan or any New Shareholder Injection by way of debt.

Subordinated Loans. Except for the Existing Inter-company Loans (Project SH1), the Existing Inter-company Loans (Project SH2), the Existing Bank Loan (Project SH1) and the Existing Bank Loan (Project SH2), no Borrower shall: (a) repay or prepay any principal amount (or capitalised interest) outstanding under any Restricted Inter-company Loan; (b) pay any interest, fee or charge accrued or due on any Restricted Inter-company Loan (for avoidance of doubt, this includes the Existing Shareholder Loan (WGQ)); or (c) purchase, redeem, defease or discharge any of any Restricted Inter-company Loan.