Examples of Second Advance Closing Date in a sentence
The date on which the foregoing conditions have been satisfied, as determined by the Lender in good faith in its sole discretion, is hereinafter known as the "Second Advance Closing Date." If the Second Advance Closing Date does not occur by December 31, 2004, the Lender's obligation to make the Second Advance shall automatically terminate.
On the Second Advance Closing Date (as defined in Section 3 hereof), upon satisfaction of the conditions precedent to the Second Advance (as hereinafter defined), the Lender shall advance to the Borrowers a portion of the Loan in the amount of $974,707 (the "Second Advance"), of which amount $750,000 shall be paid in cash to the Borrowers and $224,707 shall constitute OID.
In the event that the Second Advance does not occur by the Second Advance Closing Date, the outstanding principal amount of the Commitment Note shall be reduced by the percentage set forth in the Commitment Note.
RAB shall pay and deliver to the Company and the Subsidiary the Second Advance on the Second Advance Closing Date (as such terms are defined in the Amended Loan Agreement), subject to the satisfaction by the Company and the Subsidiary of all conditions precedent set forth in the Amended Loan Agreement.
If Patriot makes the Patriot Second Advance pursuant to the terms hereinafter set forth, from and after the Patriot Second Advance Closing Date the Loan shall be deemed to include the Patriot Second Advance.
The representations and warranties of the Borrowers contained in this Agreement and each of the other Loan Documents shall be true and correct in all material respects as of the Second Advance Closing Date, with the same effect as though made on such date.