Xxxxxxxx Loan. (i) The Seller of the Xxxxxxxx Property will provide Buyer with copies of all reports and correspondence submitted to or received from the lender under the Xxxxxxxx Loan Documents concurrently with delivery or as soon as practicable upon receipt. No amendment or waiver of any of the Xxxxxxxx Loan Documents will be entered into or requested or accepted by Seller without prior written notice to and consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed.
Xxxxxxxx Loan. In connection with the Amendment to Loan Agreement entered into December 27, 2000, Bank consented to an unsecured loan from Xxxxxxxx Xxxxxxxx Xxxxxx, X.X., a Texas limited partnership ("Xxxxxxxx") to Stratus Properties, Inc. ("Stratus") in a principal amount not to exceed $10,000,000.00 (the "Xxxxxxxx Loan") upon certain terms and conditions. Borrower hereby represents and warrants that the following terms, covenants and restrictions have been satisfied and complied with at all times to date and shall continue to be satisfied and complied with throughout the term of the Xxxxxxxx Loan until the Loans have been repaid in full and all other obligations of Borrower under the Loan Documents have been fully satisfied: (i) neither the stated principal amount of the Xxxxxxxx Loan, nor the outstanding principal balance of the Xxxxxxxx Loan, shall at any time exceed $10,000,000; (ii) the proceeds of the Xxxxxxxx Loan shall be used only for general corporate purposes of Stratus, including the use of such proceeds for the purpose of repurchasing the common stock of Stratus; (iii) the Xxxxxxxx Loan is not and shall at no time be secured by any of the real property or other collateral securing the Loans or otherwise be secured by any Liens in contravention of any terms or provisions in the Loan Agreement (including, without limitation, Section 5.5 thereof), as modified hereby, or any of the other Loan Documents; (iv) Bank's rights to receive, use and apply any and all proceeds and other amounts as set forth in Sections 2.18 and 2.19 of Addendum 2 and elsewhere in the Loan Agreement (as modified hereby) shall continue in full force and effect and shall not be affected in any manner by the Xxxxxxxx Loan, and Xxxxxxxx (and any subsequent holder of the Xxxxxxxx Loan) shall have no rights to the receipt of any such proceeds, and Borrower shall not utilize any of such proceeds for repayment of or application to any of the indebtedness evidenced by the Xxxxxxxx Loan; (v) without the prior written approval of Bank, no proceeds of the Loans shall be used by Borrower to repay any principal or other amounts then outstanding under the Xxxxxxxx Loan, except that proceeds of the Revolving Credit Loan may be used by Borrower for the repayment of ordinary interest then due and payable under the Xxxxxxxx Loan so long as no Event of Default exists and is continuing under the Loan Agreement (as modified hereby) or the other Loan Documents; (vi) without Bank's written consent, Stratus and ...
Xxxxxxxx Loan. (i) The Seller of the Xxxxxxxx Property will provide Buyer with copies of all reports and correspondence submitted to or received from the lender under the Xxxxxxxx Loan Documents concurrently with delivery or as soon as practicable upon receipt. No amendment or waiver of any of the Xxxxxxxx Loan Documents will be entered into or requested or accepted by Seller without prior written notice to and consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed. (ii) Buyer shall reasonably cooperate with the Seller of the Xxxxxxxx Property to comply with the provisions of the Xxxxxxxx Loan Documents permitting the sale of the Xxxxxxxx Property to Buyer subject to the Xxxxxxxx Loan. Such reasonable cooperation shall include, without limitation, (w) delivery of financial and other information required by the terms of the Xxxxxxxx Loan Documents or otherwise requested by TIAA, (x) creating a single purpose bankruptcy remote entity to take title to the Xxxxxxxx Property, which entity shall meet all of the requirements of the Xxxxxxxx Loan Documents, (y) assuming all of the Xxxxxxxx Loan Documents at the Closing for the Xxxxxxxx Property and (z) substituting Buyer as the guarantor/indemnitor under the Xxxxxxxx Loan Documents, all in accordance with the terms of the Xxxxxxxx Loan Documents. (l) Cable/Internet/Phone Service Contracts. From and after the date hereof, the applicable Sellers shall permit Buyer to negotiate (with Seller's participation if Seller so elects) any cable, internet and phone service contracts for the Xxxxxx Property, the 1160 Xxxxxxx Property and the Alpha Mill Phase 2 Property, and shall have the right to direct the applicable Seller to enter into any such contract approved by Buyer prior to the applicable Closing for such Property; provided that the Seller shall not incur any costs related to such contracts other than those costs for which Buyer shall reimburse Seller under Section 8.4
Xxxxxxxx Loan. Not later than ten (10) days after the amendment of the Company’s Certificate of Incorporation to permit the conversions contemplated by Section 4 hereof is approved by the Company’s shareholders and the same day of each of the five (5) months thereafter, Xxxxxxxx agrees to loan the Company the sum of $500,000 in six equal monthly installments. The notes representing Xxxxxxxx’x loan shall be on the same terms as the notes contemplated by the December Subscription Agreement, provided, however, that Xxxxxxxx’x notes shall be unsecured and shall have a term of three (3) years. Failure by Xxxxxxxx to timely loan the Company said sum will be an Event of Default under the Notes and the notes contemplated by the December Subscription Agreement.
Xxxxxxxx Loan. Within thirty-five (35) days of the date hereof, Xxxxxx Xxxxxxxx (“Xxxxxxxx”) agrees to loan the Company the sum of $50,000. Failure by Xxxxxxxx to timely loan the Company said sum will be an Event of Default under the Note and additionally Alpha will be released from having to advance any additional funds to the Company.
Xxxxxxxx Loan. The Xxxxxxxx shall have closed (or shall close contemporaneously with the closing of this Agreement) and Holdings, Borrower shall have provided a certificate with respect to the Xxxxxxxx Loan Documents and the Intercreditor shall be in full force and effect;
Xxxxxxxx Loan. Gateway shall have entered into a new promissory note in favor of Xxxxxx Xxxxxxxx in the principal amount of $650,000, with the terms set forth on Exhibit E (the “Xxxxxxxx Note”), and MLCI shall have entered into a personal guaranty guarantying Gateway’s obligations under the Xxxxxxxx Note, with the terms set forth on Exhibit F (the “Guaranty”).
Xxxxxxxx Loan. The Company shall loan the sum of Sixty-Two Thousand Dollars ($62,000) to or on behalf of Xxxxxxxx, which shall be paid directly to the relevant tax authorities to pay taxes on prior share grants by the Company, in connection with the execution of an agreement in form and substance satisfactory to Buyer, which the Company shall use its best efforts to obtain (the “Xxxxxxxx Agreement”).
Xxxxxxxx Loan. Lender shall lend Borrower the principal sum of $90,000,000.00 (the “Xxxxxxxx Loan”).
Xxxxxxxx Loan. The failure by Xxxxxx Xxxxxxxx to loan to Borrower an amount equal to not less than $50,000 on or before thirty-five (35) days after the Closing Date with proof of receipt of such loan funds required to be provided in a written statement executed by the Company’s Chief Financial Officer.
