Terms of Bridge Loan Sample Clauses

Terms of Bridge Loan. The Bridge Loan has been financed through the issuance of convertible debentures (the “Debentures”) by Tylerstone to investors, with the Debentures having the following terms: (i) the Debentures shall be convertible to shares of post-split common stock of Tylerstone at $0.50 per share, convertible at any time after the effective date of the Stock Split described above in Section 4.05; (ii) the Debentures shall permit the investors to require, on or after Xxxxx 0, 0000, Xxxxxxxxxx to register the resale, under the Securities Act, of any shares issued upon conversion of the Debentures; (iii) the Debentures shall bear interest at a rate of .5 percent above the prime interest rate as reported by the Wall Street Journal’s bank survey not to exceed 9.5% per annum until converted or paid; and (iv) and the Debentures shall permit any interest due thereunder to be converted on the same terms as the principal.
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Terms of Bridge Loan. During the term of the Bridge Loan, the Bridge Loan Lender shall make a Bridge Loan Advance simultaneously with (and for the same purposes as requested for) each Corporate Facility Advance in an amount equal to the Bridge Loan Percentage times the amount requested to be funded under the Corporate Facility pursuant to the applicable Request For Advance. The remaining portion of the requested advance shall be funded by the Lenders pursuant to the terms of this Agreement as a Corporate Facility Advance. Prior to December 31, 1995, payments made by Borrowers to be applied against the Corporate Facility shall be allocated to the Bridge Loan in an amount equal to the Bridge Loan Percentage times such payment, with the remaining portion of such payment applied against the Corporate Facility. After December 31, 1995, Borrowers shall (i) no longer be entitled to obtain Bridge Loan Advances, and (ii) make equal monthly payments on the Bridge Loan in an amount equal to one-sixth of the aggregate Bridge Loan Advances outstanding as of January 1, 1996, such payments to be made in consecutive monthly installments on the last Business Day of each month, commencing on January 31, 1996. Borrowers shall also be required to make mandatory prepayments on the Bridge Loan from time to time in an amount by which the aggregate outstanding Bridge Loan Advances exceeds the Bridge Loan Commitment. The Bridge Loan Commitment shall be reduced from time to time (i) in an amount by which the Available Commitment applicable to the Corporate Facility increases after the Closing Date, and (ii) in an amount equal to the proceeds obtained by any Borrower (or the receipt by any Borrower of the proceeds obtained by the issuance of any Subsidiary) of additional common stock or other equity (other than the issuance thereof to another Borrower) or any Approved Subordinated Debt. To the extent that the proceeds of any common stock or other equity, or the Approved Subordinated Debt, is applied to reduce the Bridge Loan as a result of the reduction in the Bridge Loan Commitment above provided, then Borrower shall not to required be make the mandatory prepayments contemplated by Section 3.6(c) hereof. The Bridge Loan shall be secured by the Collateral on a pro rata basis with the Credit Facilities. All of the representations and warranties made by Borrowers to Lenders under this Agreement and the other Loan Documents are hereby also made in favor of the Bridge Loan Lender, all of the covenants and ag...
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Terms of Bridge Loan 
Sample 1

Related to Terms of Bridge Loan

  • Terms of Repayment Principal of and interest on this Note shall be paid by the Borrower as follows:

  • Terms of Loan (a) The General Partner may, but need not, advance monies from time to time to the Partnership to meet any necessary cash requirements of the Partnership including, but not limited to, operating expenses of the Partnership or the payment of principal and interest required under any note. The aggregate amount of such advances to the Partnership shall become an obligation of the Partnership to the General Partner and shall be payable out of the gross income of the Partnership together with simple interest on a monthly basis at a rate equal to the Xxxxxx Bank and Trust Company of Chicago’s prime rate in effect from time-to-time plus one percent (1%) per annum (the “Loan Rate”). All such loans from the General Partner, and all repayments of such loans to the General Partner, shall be in cash and not in promissory notes, other property or services. The repayment of such loan shall be at a time, in the discretion of the General Partner, that there is sufficient cash flow from the operation of the Partnership to permit such repayment without impairing the solvency of the Partnership, provided that any such unpaid advances shall become immediately due and payable upon termination and dissolution of the Partnership. Notwithstanding the foregoing, no payment of interest on any such loan from the General Partner shall be paid by the Partnership if and while payments of First Tier Distributions as defined and provided for in Section 15.2 below are not current, and no repayment of principal shall be made to the General Partner for any such loan if and while payments of First Tier Distributions or Second Tier Distributions as defined and provided for in Section 15.2 below are not current. If and to the extent that there is sufficient cash flow as required above to repay such advances, such repayment to the General Partner shall be made on or before the fifteenth day after the end of each quarter.

  • Amendment of Loan Agreement The Loan Agreement is hereby amended as follows:

  • Complete Agreement; Modification of Agreement This Agreement constitutes the complete agreement among the parties hereto with respect to the subject matter hereof, supersedes all prior agreements and understandings relating to the subject matter hereof, and may not be modified, altered or amended except as set forth in Section 8.6.

  • Servicing Agreement General Summary The Sellers and the Purchasers intend this Agreement to amend and restate that certain “Servicing Agreement,” dated March 23, 2021, for purposes of the Purchase Agreement and wish to set forth herein the terms upon which each Purchaser will, to the fullest extent permitted by applicable Law and the applicable Corporate Trust Contract, and subject to the applicable provisions of this Agreement, assume the responsibility (as agent of the applicable Seller) to supervise, manage, administer and otherwise discharge the duties of the applicable Seller in a Corporate Trust Capacity under (a) any Restricted Appointment and (b) any Excluded Appointment (collectively, the “Serviced Appointments”), and the Purchasers will discharge and perform when due, and indemnify the Sellers for, the Assumed Servicing Liabilities.

  • Application of Buydown Funds With respect to each Buydown Mortgage Loan, the Company shall have deposited into the Escrow Account, no later than the last day of the month, Buydown Funds in an amount equal to the aggregate undiscounted amount of payments that, when added to the amount the Mortgagor on such Mortgage Loan is obligated to pay on all Due Dates in accordance with the terms of the Buydown Agreement, is equal to the full scheduled Monthly Payments which are required to be paid by the Mortgagor under the terms of the related Mortgage Note (without regard to the related Buydown Agreement as if the Mortgage Loan were not subject to the terms of the Buydown Agreement). With respect to each Buydown Mortgage Loan, the Company will distribute to the Purchaser on each Remittance Date an amount of Buydown Funds equal to the amount that, when added to the amount required to be paid on such date by the related Mortgagor, pursuant to and in accordance with the related Buydown Agreement, equals the full Monthly Payment that would otherwise be required to be paid on such Mortgage Loan by the related Mortgagor under the terms of the related Mortgage Note (as if the Mortgage Loan were not a Buydown Mortgage Loan and without regard to the related Buydown Agreement). If the Mortgagor on a Buydown Mortgage Loan defaults on such Mortgage Loan during the Buydown Period and the Mortgaged Property securing such Buydown Mortgage Loan is sold in the liquidation thereof (either by the Company or the insurer under any related Primary Insurance Policy) the Company shall, on the Remittance Date following the date upon which Liquidation Proceeds or REO Disposition proceeds are received with respect to any such Buydown Mortgage Loan, distribute to the Purchaser all remaining Buydown Funds for such Mortgage Loan then remaining in the Escrow Account. Pursuant to the terms of each Buydown Agreement, any amounts distributed to the Purchaser in accordance with the preceding sentence will be applied to reduce the outstanding principal balance of the related Buydown Mortgage Loan. If a Mortgagor on a Buydown Mortgage Loan prepays such Mortgage Loan in its entirety during the related Buydown Period, the Company shall be required to withdraw from the Escrow Account any Buydown Funds remaining in the Escrow Account with respect to such Buydown Mortgage Loan in accordance with the related Buydown Agreement. If a principal prepayment by a Mortgagor on a Buydown Mortgage Loan during the related Buydown Period, together with any Buydown Funds then remaining in the Escrow Account related to such Buydown Mortgage Loan, would result in a principal prepayment of the entire unpaid principal balance of the Buydown Mortgage Loan, the Company shall distribute to the Purchaser on the Remittance Date occurring in the month immediately succeeding the month in which such Principal Prepayment is received, all Buydown Funds related to such Mortgage Loan so remaining in the Escrow Account, together with any amounts required to be deposited into the Custodial Account.

  • Term Loan Agreement An Event of Default (as defined in the Term Loan Agreement) shall occur.

  • Loan Terms The Loan will be evidenced by the Note and will bear interest and be paid in accordance with the payment terms set forth in the Note.

  • Notice and Terms of Optional Prepayment The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 12:00 noon, Houston time, three Business Days before the date of prepayment, or (ii) in the case of prepayment of an ABR Borrowing, not later than 12:00 noon, Houston time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 3.02.

  • Terms of Investment (a) In order to help reasonably address the risk of undue influence on an Acquired Fund by an Acquiring Fund, and to assist the Acquired Fund’s investment adviser with making the required findings under the Rule, each Acquiring Fund and each Acquired Fund agree as follows:

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