Examples of Venture Loans in a sentence
Notwithstanding anything herein to the contrary, the maximum amount of the Loans to Borrower that may be outstanding at any one time shall not exceed the Commitment Amount, less (i) the aggregate maximum amount of all Venture Loans then outstanding (including all unfunded portions thereof), and (ii) the face amount of all outstanding Letters of Credit.
The Borrower shall promptly make a prepayment under this Note in an amount equal to the proceeds of any payments of principal or prepayments received by the Borrower or any affiliate of the Borrower in respect of the Venture Loans.
The Vendor is able to sell and transfer the Shares and the Venture Loans to the Purchaser without the consent of any person and free of any pre-emptive rights or rights of first refusal.
The Seller shall not direct any Obligor, any insurer or any other payor on or with respect to the Venture Loans, the Warrants, or any other Collateral to make any payments relating thereto to any account or Person other than to the Paying Agent for deposit into the Lockbox Account unless the Seller has received prior written consent from the Agent with respect to the making of any such payment to any such other account or Person, which consent the Agent may give or withhold in its sole discretion.
The annual financial statements of the Seller (including any consolidated financial statements) shall disclose the effects of the transactions contemplated by this Agreement in accordance with GAAP as a sale of the related Venture Loans and related Warrants to the Purchaser.
The Seller shall conduct its business in the ordinary course and in accordance with customary and usual procedures of institutions which originate, administer, process and service Venture Loans and related Warrants, respectively, including without limitation in accordance and compliance with the Underwriting Guidelines and the Collection Policy.
The Seller shall not account for or treat (whether in financial statements or otherwise) the Transfers contemplated by this Agreement or any Subsequent Transfer Instrument, in any manner other than as a sale and absolute assignment of the Venture Loans and related Warrants to the Purchaser constituting a “true sale” for bankruptcy purposes.
The Borrower shall maintain at all times (i) Venture Loans in an aggregate outstanding principal balance of not less than $50,000,000, and (ii) all Underlying Documents with respect thereto on deposit with the Custodian in the “Account” (as defined in the Control Agreement referred to below) (the “Custodial Account”).
Except as provided in the succeeding sentence, Indemnification Amounts do not include losses in respect of uncollectible Venture Loans.
After giving effect to each Transfer hereunder or under each Subsequent Transfer Instrument, as the case may be, the Purchaser shall be the legal and beneficial owner of the related Venture Loans and any related Warrants and other related Purchased Assets, free and clear of any Adverse Claim.