Subject to Borrower definition

Subject to Borrower s satisfaction of the conditions set forth in Article 5, the "Closing Date" for the transactions contemplated by this Agreement is August 31, 2002.

Subject to Borrower s satisfaction of the conditions set forth in Section 4, the effective date of the Amendment is March 10, 2004 ("Effective Date").

Subject to Borrower s ability to obtain advances under section 4.02, Borrower unconditionally promises and agrees to immediately reimburse Bank on Bank's demand in the full amount of any payment made by Bank on any draft presented to Bank under any credit issued by Bank upon Borrower's application. Unless otherwise approved by Borrower, Bank will only honor conforming documentary drafts. Upon receipt of a conforming documentary draft, Bank may demand that Borrower prepay by wire transfer in immediately available funds the amount to which Bank will be entitled by way of reimbursement upon honoring the draft. In each instance, Bank may require such payment either in U.S. dollars or the currency in which the draft is payable. If any amount is demanded by Bank, but not reimbursed or repaid by Borrower, Borrower will pay interest on such amount at the default rate unless Borrower has obtained an advance from Bank under section 4.02 to fund such reimbursement obligation. Bank shall retain all documents of title and, therefore, entitlement to possession of the goods until reimbursement is received.

Examples of Subject to Borrower in a sentence

• Subject to Borrower having the right to enter any such places, Lender and its agents and representatives will have the right at any reasonable time, after giving reasonable notice to Borrower, to enter and visit any locations where the Collateral or Underlying Collateral is located for the purposes of observing the Collateral or Underlying Collateral.

• Subject to Borrower complying with the terms and conditions of this Loan Agreement, Lender shall release to Borrower, pursuant to the schedule, the Loan Amount.

• Subject to Borrower having the right to enter and visit any such places, Lender and Lender’s employees or agents shall have the right at all times to enter upon any and all real property collateral repossessed or acquired by foreclosure or deed in lieu of foreclosure for whatever purpose Lender deems reasonably appropriate, including, without limitation, inspection of the premises and the posting of such notices and other written or printed material thereon as Lender may deem appropriate or desirable.

• Subject to Borrower providing Lender with prior written notice of at least 2 days, the closing of the transaction in relation to the Loan (the “Loan Closing”) shall occur no later than or on August 31st, 2017, following satisfaction or waiver of all the conditions precedent to the Loan Closing, or at such other time, date and place as may be agreed by the Parties in writing (the time and date of the Loan Closing being herein referred to as the “Loan Closing Date”).

• Subject to Borrower having entered into a new franchise agreement to operate the property located at 0000 Xxxxxxxx, Xxx Xxxxxxx, Xxxxx, as a Country Inn & Suites hotel, which shall be in full force and effect by not later than August 15, 2011, Lender agrees to waive the Event of Default arising from such termination.

• Subject to Borrower taking all action required under this Agreement, the quarterly principal payment in the amount of $500,000 that was due and payable to the Lenders by Borrower on December 31, 2002, pursuant to Section 2.2(c) of the Credit Agreement, is hereby deferred until February 14, 2003, at which time such payment shall be due and payable.

• Subject to Borrower not then being in default under the Note or Second Deed of Trust, Borrower shall have the right to extend the Maturity Date to December 31, 2011 by paying Lender a principal reduction payment in the amount of $50,000 on or before December 31, 2011.

• Subject to Borrower making a prepayment in an amount sufficient to reduce the outstanding Obligations to Fifteen Million Dollars ($15,000,000), Bank consents to Borrower using all cash Collateral remaining in Borrower’s deposit accounts at Bank to fund the actual and necessary expenses shown on the budget attached hereto as Schedule 2.

• Subject to Borrower having entered into a new franchise agreement to operate the property located at 0000 Xxxxxxxxxxxx Xxxxxx, Xxxxx Xxxxx, XX 00000 as a Doubletree hotel, which shall be in full force and effect by not later than August 15, 2011, and the hotel commences to operate as a Doubletree hotel on or before October 1, 2011, Lender agrees to waive the Event of Default arising from such termination.

• Subject to Borrower compliance with the terms and conditions of this Loan Agreement, Lender shall release to Borrower the Loan Amount defined in this agreement.

More Definitions of Subject to Borrower

Subject to Borrower s satisfaction of the conditions set forth in Section 10, the effective date of this Amendment is May 1, 2004, except that the effective date of the temporary increase is May 26, 2004 ("Effective Date").

Subject to Borrower s satisfaction of the conditions set forth in Section 7, the effective date of this Amendment is November 17, 2004 ("Effective Date").