Second Drawing definition
Examples of Second Drawing in a sentence
Subject to the terms and conditions set forth herein and in Incremental Amendment, each Incremental Term A-2 Lender severally agrees to make Incremental Term A-2 Loans to the Borrower in Dollars on the Initial Drawing Date and the Second Drawing Date, as the case may be, in an aggregate amount not to exceed such Incremental Term A-2 Lender’s Incremental Term A-2 Commitment on the Bridge 2 Loan Closing Date.
Subject to the terms and conditions set forth herein and in Incremental Amendment, each Incremental Term A-2 Lender severally agrees to make Incremental Term A-2 Loans to the Borrower in Dollars on the Initial Drawing Date and the Second Drawing Date, as the case may be, in an amount not to exceed such Incremental Term A-2 Lender’s Incremental Term A-2 Commitment on such date.
In the event the Second Drawing Condition occurs, the Landlord shall have the tight to draw upon the ILC and retain the amount of proceeds of said ILC or other form of Security Deposit held hereunder equal to the amount of past due Base Rent payable under the terms of the Lease plus reasonable costs of collection thereof with the balance of the ILC proceeds to be remitted to Landlord's lender, Shawmut Bank, N.k (the "Custodian"), as custodian.