Examples of Seasonal Advance Period in a sentence
The Seasonal Advance shall be evidenced by one or more secured promissory notes (collectively, the "Seasonal Advance Note") in substantially the form attached hereto as Exhibit 2.4. Borrower and Agent agree that the Seasonal Advance Note that evidences a Seasonal Advance for the Seasonal Advance Period in one year may also evidence Seasonal Advances for Seasonal Advance Periods in subsequent years, even though the original Seasonal Advance that it evidenced will have been repaid.
Subject to the terms and conditions of this Agreement, each year during the "Seasonal Advance Period" and so long as no Event of Default has occurred and is continuing, each Lender, severally and not jointly, will make a Seasonal Advance to Borrower in the sum equal to such Lender's Commitment Percentage of $1,500,000.
The Seasonal Advance made with respect to any Seasonal Advance Period shall be, with respect to principal, payable in full on the last day of such Seasonal Advance Period, subject to acceleration upon the occurrence of an Event of Default under this Agreement or termination of this Agreement.
Target has complied with, is not in violation of, and has not received any notices of violation with respect to, any federal, state, local or foreign statute, law or regulation with respect to the conduct of its business, or the ownership or operation of its business, except for such violations or failures to comply as, singly or in the aggregate, could not be reasonably expected to have a Material Adverse Effect on Target.