Subsequent Advance Amount definition
Examples of Subsequent Advance Amount in a sentence
The Lender shall advance the Subsequent Advance Amount to the Borrower if the conditions in this Section 2.2(b) are satisfied on the Subsequent Advance Date for such request not later than 3:00 p.m. (Oklahoma City time) on the Subsequent Advance Date by wire transfer of Dollars to the Borrower.
On each Subsequent Closing Date, (A) the Buyer advancing all or a portion of the Subsequent Advance Amount shall pay such amount to the Company by wire transfer of immediately available funds, and (B) the Company shall deliver to such Buyer its Note, Tranche I Warrant, and Tranche II Warrant, each duly executed on behalf of the Company, and registered in the name of such Buyer or its designee.
The second such promissory note shall be in the face amount of the Subsequent Advance Amount in substantially the form of Exhibit A-2 annexed hereto (the "Master Note"), with appropriate insertions made from time to time to reflect the amount, date, maturity date, interest rate and amount of monthly installment of principal and interest applicable to such Advance for such Note.
The Subsequent Advance Amount shall be evidenced by an Amended and Restated Master Note (the "Master Note") to replace and supersede a Master Note dated October 24, 2002 in the original principal amount of $2,300,000.00, which Amended and Restated Master Note shall be substantially the form of Exhibit 2.3 - B annexed hereto.
The Borrower and Guarantors acknowledge and agree that, as of the date hereof, (i) no Subsequent Advance Commitments have been issued and (ii) the Subsequent Advance Amount is uncommitted.
Notwithstanding anything herein to the contrary, nothing in this Agreement shall obligate any Holder to advance or the Company to accept all or any part of the Subsequent Advance Amount.
The initial advance shall not exceed One Million Seven Hundred Thousand Dollars ($1,700,000.00) (the "Initial Advance Amount") and the subsequent advances shall not exceed Four Million One Hundred Thousand Dollars ($4,100,000.00) (the "Subsequent Advance Amount").
The initial advance shall not exceed One Million Seven Hundred Thousand Dollars ($1,700,000.00) (the "Initial Advance Amount") and the subsequent advances shall not exceed Two Million Three Hundred Thousand Dollars ($2,300,000.00) (the "Subsequent Advance Amount").
In addition, Borrower is permitted to request that new or existing Lenders make loans to it on any Subsequent Advance Date in an aggregate principal amount (excluding interest paid in kind) not exceeding the Maximum Subsequent Advance Amount, subject to the agreement of each such Lender and the terms and conditions set forth in this Agreement.
Each Drawdown Notice shall (x) state the principal amount of Loans that the Company desires to obtain hereunder on the applicable Subsequent Advance Date, which amount shall not exceed the Applicable Subsequent Advance Amount, (y) certify that each of the conditions to the making of such Loan on such Subsequent Advance Date set forth in SECTION 7.2 hereof has been satisfied, and (z) be executed by a duly authorized officer of the Company.