The Initial Loan. The obligation of Lender to make the initial Loan is subject to fulfillment of the following conditions.
The Initial Loan. Lender shall make Advances of the Initial Loan from and after the date hereof and prior to the Conversion Date, in accordance with, and subject to the terms and conditions of, the BLA. The Initial Loan shall be used solely to pay BLA Costs in the BLA Budget and other amounts as provided in the BLA.
The Initial Loan. (a) THE LOAN. Lender agrees, on the terms and conditions hereinafter set forth, to make a loan (the "Initial Loan") to Borrower in the aggregate principal amount of Eleven Million, Eight Hundred Thousand Dollars ($11,800,000). The Initial Loan shall be made immediately prior to the date that the Borrower is required to make up-front deposits to the FCC for the F-Block Auction and shall be used by Borrower for such purpose and for the purposes set forth in Paragraph (b) of this Section 2.01.
The Initial Loan. At Closing (as defined herein), Lender shall advance the initial loan to the Company in the amount of Two Hundred Thousand Dollars ($200,000).
The Initial Loan. At the Initial Loan Closing, the Purchaser shall make the Initial Loan (assuming satisfaction of all conditions to the Purchaser's obligation to make the Initial Loan).
The Initial Loan. Lender shall make the Initial Loan upon receipt of (i) the Note dated the date hereof executed by Databit, (ii) a Security Agreement, dated the date hereof, substantially in the form of Exhibit B attached hereto (the "Security Agreement") executed by Databit, and (iii) an executed guarantee substantially in the form of Exhibit C attached hereto (the "Guarantee"), executed by DSSI.
The Initial Loan. The Borrower desires to (i) refinance certain existing debt (as set forth on SCHEDULE 2.1(a), the "EXISTING DEBT") secured by Liens encumbering the Borrower's right, title and interest in certain of the Properties and (ii) make the Shell Payment. The Existing Debt is secured by Liens (the "EXISTING LIENS") under those security instruments executed by the Borrower listed on SCHEDULE I to each Assignment of Note and Liens. Subject to the conditions precedent set forth in SECTIONS 9.2 and 9.3, the Lender shall, contemporaneously with the Closing, purchase the entire Existing Debt from the Existing Debt Holders in accordance with and subject to the terms and conditions of the Assignments of Note and Liens. Upon such purchase, the Borrower shall issue to the Lender (i) a promissory note in the form of EXHIBIT B-1, appropriately completed (as amended, restated, supplemented or otherwise modified from time to time, the "ADVANCING NOTE") in the face principal amount of Thirty-Two Million, Six Hundred Twenty-Seven Thousand, Seven Hundred Forty-Four and No/100 Dollars ($32,627,744.00) and (ii) a promissory note in the form of EXHIBIT B-2, appropriately completed (the "ENCAP JUNIOR NOTE") in the face principal amount of Two Million Eight Hundred Eighty-Six Thousand Eight Hundred Thirty-One and No/100 Dollars ($2,886,831.00) which Advancing Note and EnCap Junior Note shall modify the terms (including the interest rate) of, but not extinguish or novate, the Existing Debt and which Advancing Note shall evidence both the Initial Loan (including Existing Debt in the amount of $17,867,195) and the Development Loans. Immediately following the issuance to it of the EnCap Junior Note, the Lender shall sell the entire EnCap Junior Note, and reconvey a portion of the Existing Liens, to EnCap Energy Capital Fund III, L.P., in accordance with and subject to the terms and conditions of the Assignment of Junior Note and Liens. Subject to the conditions precedent set forth in SECTIONS 9.2 and 9.3, the Lender shall, at the Closing, advance to the Borrower so that the Borrower may make the Shell Payment and pay amounts payable by the Borrower as provided in SECTION 7.1(y), the amount of Eight Million One Hundred Ninety-Two Thousand One Hundred and Twenty-Seven and No/100 Dollars ($8,192,127.00) such amount, together with the portion of outstanding principal balance of the Existing Debt to be evidenced by the Advancing Note, and the Six Hundred Thousand Five Hundred Forty-Four Dollars ...
The Initial Loan. (a) On the Closing Date, and upon the terms and subject to the conditions set forth herein and in the other Transaction Documents to be executed and delivered by the parties hereto and thereto, the Lender hereby agrees to make the Initial Loan and the Company hereby agrees to issue to the Lender the Initial Note in the original principal amount of Nine Million Two Hundred and Ninety-Five Thousand Dollars ($9,295,000 and the Lender agrees to accept from the Company the Initial Note.
The Initial Loan
