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borrower further represents to lender that as security for such loans, borrower agrees to transfer, assign and/or license to lender all of borrower’s right, title and interest in any and all software and hardware necessary to operate the equipment. the word “equipment” means that property and equipment identified in a water contract as being utilized by borrower for the purpose of water treatment and which is sometimes referred to in a water contract as the facilities. the words “loan facility” mean that loan facility which is described in paragraph 2 hereof and which is the basis of this agreement. pursuant to said facility, borrower may make application to draw down portions of the facility from time to time and each such application shall be approved or not approved by lender in lender’s sound business judgment. each application for a draw-down by borrower to lender will be determined in relation to the amount of revenue to be generated by the particular water contract submitted as collateral in connection with such application and according to the following formula. all warrants shall be in the form set forth of the warrant to purchase common stock of basin water, inc., attached hereto as exhibit “3”, and incorporated by reference herein. if borrower’s requests under this paragraph are granted, borrower and lender agree to enter into a modification of this loan agreement as appropriate to document the changes. if borrower should fail to provide such notice, then lender may so instruct said customers and borrower irrevocably appoints lender as borrower’s attorney-in-fact for this purpose, which right shall be in addition to any other right lender may have at law or under the terms hereof or of the related documents. said amount shall be paid on demand and in any event not later than the date of execution hereof and whether or not any draw-down is applied for or obtained hereunder by borrower and in the event of non-payment upon demand by lender, lender shall have no duty to approve any application for a draw-down or to lend any money to borrower under this loan facility or otherwise. any inspections or tests made by lender shall be at borrower’s expense and for lender’s purposes only and shall not be construed to create any responsibility or liability on the part of lender to borrower or to any other person. the provisions of this section of the agreement, including the obligation to indemnify, shall survive the payment of the indebtedness and the termination or expiration of this agreement and shall not be affected by lender’s acquisition of any interest in any of such properties, whether by foreclosure or otherwise.
borrower represents and warrants to lender that each, every and all of the collateral actually exists as described in any water contract, including the payments and other consideration listed in such water contract and including the equipment described in such water contract. it is acknowledged by the parties hereto that borrower may from time to time be in default under terms of a water contract pledged as collateral to secure the loan. perform and comply with all terms, conditions, and provisions set forth in this agreement and in the related documents in a timely manner, and promptly notify lender if borrower learns of the occurrence of any event which constitutes an event of default under this agreement or under any of the related documents. lender through its principals has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of making the loans to borrower as provided for herein. failure of borrower to comply with or to perform when due in any material respect any term, obligation, covenant or condition contained in this agreement or in any of the related documents, or failure of borrower to comply with or to perform in any material respect any term, obligation, covenant or condition contained in any other agreement between lender and borrower, or if any condition hereof is not fulfilled as and when due. this agreement, together with any related documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this agreement and the related documents. if feasible, any such offending provision shall be deemed to be modified to be within the limits of enforceability or validity; however, if the offending provision cannot be so modified, it shall be stricken and all other provisions of this agreement in all other respects shall remain valid and enforceable. all warranties, representations, and covenants made by borrower in this agreement or in any certificate or other instrument delivered by borrower to lender under this agreement shall be considered to have been relied upon by lender and will survive the making of the loan and delivery to lender of the related documents, regardless of any investigation made by lender or on lender’s behalf. borrower hereby licenses, sub-licenses, assigns and transfers, all as security for the indebtedness, to lender all of borrower’s right, title and interest in and to any and all software, hardware and other property necessary to operate the equipment; provided, that the transfers under this subparagraph shall not become operative unless and until an event of default shall have occurred hereunder and then only upon lender’s affirmative acceptance of such transfer(s). jeff talks the language of real estate and understands that it is a vehicle to deliver your business strategy. “contractscounsel suited my needs perfectly, and i really appreciate the work to get me a price that worked with my budget and the scope of work.” their platform put me in touch with the right lawyers for my industry and the team was as responsive as humanly possible during the whole process.
this business loan agreement (asset based) dated , is made and executed between rainmaker systems, inc. (“borrower”) and bridge bank, a business loan agreement is a document that holds all of the logistical details of business debt that a borrower is about to take on. reviewing your business a business loan agreement is a legally binding document that outlines the details of a loan between a lender and borrower. learn more here., company to company loan agreement template, business loan agreement pdf, business loan agreement pdf, business loan agreement template free, company loan agreement to employee.
a business loan agreement typically includes a promissory note stating the amount you agree to borrow, and the term and interest rate at which a business loan agreement is an understanding between a business and a lender. it documents the promises of both parties—the promise by the a business loan agreement is a legal contract between the borrower (business) and lender (typically a bank) that defines terms of repayment, interest rates,, business loan agreement template word, terms and conditions of loan agreement example, unsecured business loan agreement, car loan agreement, business loan agreement vs promissory note, bank loan agreement, loan pdf, equity financing agreement, loan agreement maker, business loan agreement template uk.
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