Examples of Seventh Loan Modification Effective Date in a sentence
Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in certain Perfection Certificates previously delivered to the Bank (in each case as supplemented through the Seventh Loan Modification Effective Date), and acknowledges, confirms and agrees the disclosures and information above Borrower provided to Bank in such Perfection Certificates, as supplemented, remain true and correct in all material respects as of the date hereof.
Borrower shall pay to Bank a non-refundable commitment fee equal to Five Thousand Dollars ($5,000), which fee shall be due, and be deemed fully earned, on the Seventh Loan Modification Effective Date.
In addition, Borrower shall pay to Bank an anniversary fee equal to Fifty Thousand Dollars ($50,000) on or before the date that is 365 days after the Seventh Loan Modification Effective Date.
The Bank has agreed to do so, but only upon and subject to (i) Borrower receiving, on or before the Seventh Loan Modification Effective Date, not less than Five Million Dollars ($5,000,000) of gross proceeds from the issuance of the March 2013 Notes pursuant to the March 2013 Note Purchase Agreement; and (ii) the specific terms and conditions set forth herein.
Within sixty (60) days after the Seventh Loan Modification Effective Date, Borrower shall deliver to Bank a landlord consent, in form and substance acceptable to Bank, in favor of Bank for the property located at 0000 Xxxxx Xxxx Xxxxx, Xxx Xxxxx, Xxxxxxxx, executed by the landlord thereof.
Within sixty (60) days after the Seventh Loan Modification Effective Date, Borrower shall deliver to Bank a landlord consent, in form and substance acceptable to Bank, in favor of Bank for the property located at 2925 Board Walk Drive, Ann Arbor, Michigan, executed by the landlord thereof.
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This Loan Modification Agreement is executed as a sealed instrument under the laws of the Commonwealth of Massachusetts, as of the Seventh Loan Modification Effective Date.