Subsequent Financing Transaction Clause Samples

Subsequent Financing Transaction. It is expressly acknowledged and agreed that each of the parties hereto intend to enter into a subsequent debt financing transaction with the Bank or another bank or commercial lending institution, on the terms and for the period set forth in this Section 4 (the "SUBSEQUENT FINANCING TRANSACTION"). In the Subsequent Financing Transaction; the Company intends to borrow up to an aggregate maximum amount of Ten Million Dollars ($10,000,000) for working capital production purposes and each of the Guarantors shall execute a guaranty on terms acceptable to the Bank or another bank or commercial lending institution and an agreement to provide a guaranty to guarantee the Company's performance and satisfaction of its obligations under any and all documents memorializing the Subsequent Financing Transaction. Subject to the buyout provision set forth in Section 4(e) of this Agreement, the Company may enter into the Subsequent Financing Transaction or agreements documenting the Subsequent Financing Transaction at its discretion. The Guarantors shall be obligated to enter into the Subsequent Financing Transaction or agreements documenting the Subsequent Financing Transaction as may be requested by the Company, unless the Company is not current in performing its obligations under this Agreement. With respect to, and in connection with, the Subsequent Financing Transaction entered into among the Company and the Guarantors, the parties hereby agree as follows, which terms shall be binding on the parties: