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 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 Lender shall have received, in form and substance satisfactory to it, an acknowledgment from Bank of America, N.A. (the “ Custodian”) that the principal documents (the “Underlying Documents”) evidencing the Venture Loans owned by the Borrower have been deposited with the Custodian pursuant to the Custodial Agreement dated as of October 25, 2010 between the Custodian and the Borrower (the “Custodial Agreement”).
Other than the Venture Loans and related Warrants, the Borrower shall not, either directly or indirectly, make any loans or advances to, or extend any credit to, or make any investment in (other than the exercise of Warrants), any Person, including without limitation to or in any officer, employee, shareholder or Affiliate of the Seller, the Servicer or the Borrower.
Borrower shall maintain, and shall cause each of its Subsidiaries to maintain in force all licenses, approvals and agreements necessary for the conduct of its business as conducted on the Closing Date.
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”).
Promptly, from time to time, such other information, documents, records or reports relating to the Venture Loans or the condition or operations, financial or otherwise, of the Borrower, the Seller and the Servicer as the Agent may from time to time reasonably request in order to protect the interests of the Agent and the Lender under or as contemplated by this Agreement.
Concurrently with the delivery of any Advance Request, the Servicer shall transmit to the Agent and the Back-Up Servicer, a Data Report containing information as is ordinarily included in a Data Report (as applicable) and relating to the Subsequent Venture Loans and related Warrants to be added to the Collateral on the related Transfer Date.
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 Borrower will not use the proceeds of the Loan for any purpose other than (1) the purchase of Venture Loans, Warrants and the other Collateral under and in accordance with the Purchase Agreement or Subsequent Transfer Instrument and (2) for proceeds received on the Initial Funding Date only, to make required payments of fees, expenses, indemnities and reimbursements pursuant to the terms of this Agreement and the other Transaction Documents.