Supplemental Loan. If this Loan Agreement is entered into in connection with a Supplemental Loan and if the same Person is or becomes both Senior Lender and Supplemental Lender, then:
Supplemental Loan. The Loan is a Supplemental Loan and, except to the extent specifically required or approved by Lender, there has been no change in the ownership of either the Mortgaged Property or Borrower Principals since the date of the Senior Note. The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the Supplemental Loan has been fully disclosed to Lender.
Supplemental Loan. The Loan is a Supplemental Loan and, except to the extent specifically required or approved by Lender, there has been no change in the ownership of either the Mortgaged Property or Borrower Principals since the date of the Senior Note. The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the Supplemental Loan has been fully disclosed to Lender. [ ] Cross-Collateralized/Cross-Defaulted Loan Pool: The Loan is part of a cross-collateralized/cross-defaulted pool of loans described as follows: ____ being simultaneously made to Borrower and/or Borrower’s Affiliates ____ made previously to Borrower and/or Borrower’s Affiliates The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the Loan and the other loans comprising the cross-collateralized/cross-defaulted loan pool has been fully disclosed to Lender.
Supplemental Loan. If Borrower enters into a Supplemental Loan and if Funding Lender becomes the Supplemental Lender, then Borrower assigns and grants to Funding Lender a security interest in the Reserve Funds established in connection with the Supplemental Loan, if any, as additional security for all of Borrower’s obligations under this Continuing Covenant Agreement.
Supplemental Loan. If “Supplemental Loan” is checked in the Summary, then and, except to the extent specifically required or approved by Lender, there has been no change in the ownership of either the Mortgaged Property or Borrower Principals since the date of the Senior Note. Borrower has fully disclosed to Lender the intended use of any cash received by Borrower from Lender in connection with the Supplemental Loan, if applicable.
Supplemental Loan. After the First Anniversary, Borrower may participate in the Xxxxxx Xxx Supplemental Loan product if the Supplemental Loan product is offered by Xxxxxx Mae at the time. Any such Supplemental Loan is subject to Lender’s determination that, as a result of its annual valuation of the Collateral Pool, a Supplemental Loan may be made pursuant to Lender’s Underwriting Requirements for Loans which meet the Coverage and LTV Tests. The Supplemental Loan will be documented with loan documents similar to the Loan Documents (“Supplemental Loan Documents”). Supplemental Loans will not be loans advanced under this Agreement. Any Supplemental Loan will be priced at market at the time of the loan and will be cross-defaulted with the Term Loan. To secure the obligations of Borrower under the Supplemental Loan Documents, Borrower shall grant, convey and assign to Lender a second Lien on each Mortgaged Property in the Collateral Pool and on any other collateral pledged to Lender from time to time pursuant to the Supplemental Loan Documents. On the closing date of the Supplemental Loan, Lender shall determine the portion of the Supplemental Loan allocated to a particular Mortgaged Property by Lender (the “Supplemental Allocable Loan Amount”), which Supplemental Allocable Loan Amounts shall be set forth in a separate exhibit to this Agreement. Lender shall redetermine the Supplemental Allocable Loan Amounts in the same manner and at the same time as the redetermination of the Allocable Loan Amounts pursuant to Section 2.01(b). In the event of a Supplemental Loan, Borrower shall pay the Supplemental Loan Fee on the date of the closing of such Supplemental Loan. Notwithstanding the foregoing, the Supplemental Loan shall be monitored pursuant to Section 2.01 of this Agreement and Lender shall include the Supplemental Loan upon calculating the Coverage and LTV Tests, Aggregate Debt Service Coverage Ratio and Aggregate Loan to Value Ratio, in connection with any Request.
Supplemental Loan. The schedule for prepayments of each Supplemental Facility shall be determined in accordance with Section 2.4.
Supplemental Loan. In addition to the Revolving Loans under Section 2.01 of the Credit Agreement, as a one time financial accommodation to Borrower, Supplemental Loan Lender shall make, subject to the terms and conditions contained herein, a supplemental loan to Borrower in the principal amount equal to the lesser of: (a) $45,000,000 and (b) the sum of (i) 100% of the Eligible Accounts of the Borrower and the Designated Subsidiaries calculated as of the date hereof and (ii) the lesser of (A) 100% of the Value of the Eligible Inventory of the Borrower and the Designated Subsidiaries and (B) 100% of the Net Recovery Percentage multiplied by the Value of such Eligible Inventory; each as calculated as of the date hereof (the “Supplemental Loan”). The Supplemental Loan shall be funded in full on the date hereof. The Supplemental Loan shall constitute part of the Obligations and shall be secured by all of the ABL Collateral. Except for the making of the Supplemental Loan as set forth in this Section 9.1, Borrower shall have no right to request and Supplemental Loan Lender shall have no obligation to make any additional loans or advances to Borrower under this Section 9.1 and any repayments of the Supplemental Loanshall not be subject to any readvance to or reborrowing by Borrower.
Supplemental Loan. Notwithstanding Section 5.01, and provided no Event of Default shall then exist under the Loan, Lender agrees, upon fifteen (15) days written notice from Borrower to Lender that Borrower is about to consummate a supplemental loan secured by the Property (a “Supplemental Loan”), such Supplemental Loan shall be permitted if each of the following conditions have been satisfied:
Supplemental Loan. (a) Subject to the terms hereof, the Lender agrees to advance to the Borrowers (or to One Price on behalf of One Price PR) on the Closing Date amounts equal to the Supplemental Loan Limit. (b) The proceeds of the Supplemental Loan shall be applied to reduce the outstanding principal balance of the Revolving Loans. (c) The Borrowers shall repay the entire unpaid balance of the Supplemental Loan on the Supplemental Loan Termination Date. The Borrowers may repay the entire principal balance of the Supplemental Loan prior to the Supplemental Loan Termination Date (subject to Sections 3.4.2 and 12.1.1 hereof). Any amounts prepaid on account of the Supplemental Loan cannot be reborrowed by the Borrowers. (d) The Borrowers shall repay the Obligations then existing with respect to the Supplemental Loan (including any interest, fees, costs, and expenses, including reasonable attorney's fees, or other charges with respect thereto) with proceeds of the Federal Tax Refund."
