Second Pay Proceeds Letter definition

Second Pay Proceeds Letter means that certain Second Pay Proceeds Letter, dated the Second Closing Date, executed by the Company and addressed to the Purchaser
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Examples of Second Pay Proceeds Letter in a sentence

  • On the Second Closing Date, the Company hereby authorizes the Purchaser to deduct from the proceeds of the Second Advance, the commitment fee and the other fees and expenses as specified in Section 3(C) above of this Agreement, and to disburse the balance of the Second Advance as per the instructions set forth in the Second Pay Proceeds Letter.

  • Upon satisfaction of all conditions to the Second Closing set forth in Section 4 of the First Omnibus Agreement, at the Second Closing the Purchaser shall pay the Second Advance to the Company by wire transfer pursuant to the instructions of the Company as set forth in the Second Pay Proceeds Letter.

Related to Second Pay Proceeds Letter

  • Permitted Intercompany Investments means Investments made by (a) a Loan Party to or in another Loan Party, (b) a Subsidiary that is not a Loan Party to or in another Subsidiary that is not a Loan Party, (c) a Subsidiary that is not a Loan Party to or in a Loan Party, so long as, in the case of a loan or advance, the parties thereto are party to the Intercompany Subordination Agreement, and (d) a Loan Party to or in a Subsidiary that is not a Loan Party so long as (i) the aggregate amount of all such Investments made by the Loan Parties to or in Subsidiaries that are not Loan Parties does not exceed $1,000,000 at any time outstanding, (ii) no Default or Event of Default has occurred and is continuing either before or after giving effect to such Investment, and (iii) the Borrowers have Excess Availability plus Qualified Cash of not less than $10,000,000 after giving effect to such Investment.

  • Qualified refunding obligation means an obligation issued or incurred by an authority or by a municipality on behalf of an authority to refund an obligation if the refunding obligation meets both of the following: