Acquisition Advances. The Borrower shall repay to the Administrative Agent for the ratable account of the Acquisition Lenders on the following dates an amount equal to the percentage indicated for such date of the aggregate amount of Acquisition Advances outstanding on the Acquisition Availability Date (after giving effect to any prepayments thereof on the Acquisition Availability Date) (which amounts shall be reduced as a result of the application of further prepayments in accordance with the order of priority set forth in Section 2.06): Quarterly Payment Date Percentage ---------------------- ---------- February, 2000 6.25% May, 2000 6.25% August, 2000 2.5% November, 2000 10% February, 2001 6.25% May, 2001 6.25% August, 2001 2.5% November, 2001 10% -40- February, 2002 6.25% May, 2002 6.25% August, 2002 2.5% November, 2002 10% February, 2003 6.25% May, 2003 6.25% August, 2003 2.5% November, 2003 10% provided, however, that the final principal installment shall be repaid on the Acquisition Termination Date and in any event shall be in an amount equal to the aggregate principal amount of the Acquisition Advances outstanding on such date.
Acquisition Advances. As to each Additional Property (if any), Lender shall make an Acquisition Advance to Borrower to finance or refinance such Additional Property and to pay certain Loan funding costs in connection therewith, subject to and in accordance with the following terms and conditions:
Acquisition Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make two Acquisition Advances to Borrower in two tranches, Acquisition Tranche A and Acquisition Tranche B. Borrower may request one Acquisition Line Advance under Acquisition Tranche A at any time from the Third Amendment Date through the Acquisition Tranche A Availability End Date. Borrower may request one Acquisition Advance under Acquisition Tranche B at any time from the first Business Day following any Acquisition Tranche A Advance through the Acquisition Tranche B Availability End Date. The aggregate outstanding amount of all Acquisition Advances shall at no time exceed the Acquisition Line and each Acquisition Advance shall be in a minimum amount of $250,000. Proceeds of the Acquisition Advances shall be used by Borrower to make a Permitted Acquisition. No Acquisition Advance shall exceed 100% of the purchase price of a Permitted Acquisition. Notwithstanding the foregoing, Bank shall not make any Acquisition Advance if Borrower has not maintained a Liquidity of at least $60,000,000 at all times.
Acquisition Advances. Subject to the conditions and limitations set forth herein, TMCC shall make Acquisition Advances for (i) the purchase of a Property, or (ii) the refinance of existing indebtedness on a Property.
Acquisition Advances. The Borrower shall repay to the Administrative Agent for the ratable account of the Acquisition Lenders the aggregate outstanding principal amount of the Acquisition Advances on the following dates in the amounts indicated (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.06): 80 50 DATE AMOUNT ---- ------ December 31, 1999 Amortization Amount A March 31, 2000 Amortization Amount A June 30, 2000 Amortization Amount B September 30, 2000 Amortization Amount B December 31, 2000 Amortization Amount B March 31, 2001 Amortization Amount B provided, however, that the final principal installment shall be repaid on the Termination Date and in any event shall be in an amount equal to the aggregate principal amount of the Acquisition Advances outstanding on such date.
Acquisition Advances. With respect to each Acquisition Advance, upon the sooner of (a) the date that is eighteen (18) months after the date of such Acquisition Advance, (b) the date upon which Borrower closes the sale of any Timeshare Interest at the related Additional Resort or (c) the end of the Inventory Commitment Period, Borrower shall repay the principal attributable to such Acquisition Advance either (y) through a refinance of all Acquisition Advances related to such Additional Resort with proceeds of Inventory Advances, with any shortfall to be paid directly by Borrower, upon which such Additional Resort shall be added to Schedule 5 hereof and shall no longer be considered an Additional Resort, or (z) on the first day of each month commencing with the month immediately following such date, in equal installments, each in an amount equal to the amount of the principal related to such Acquisition Advance divided by the number of months then remaining until the Maturity Date.
Acquisition Advances. Borrower's notice to Bank of the applicable interest rate shall be provided, as to Adjusted LIBO Rate Advances which are to be continued as such for the next Interest Period or as to Base Rate Advances which are to be converted to Adjusted LIBO Rate Advances, not less than three (3) days, which are both Working Days and Business Days, prior to the end of the then pending Interest Period, such notice to include a requested Interest Period, and, as to Adjusted LIBO Rate Advances which are to be converted to Base Rate Advances, one (1) Business Day prior to the end of the then pending Interest Period to Bank. Conversions of Adjusted LIBO Rate O:\SSDATA\HAT\BANK\0000000.6 14 062797 Advances shall only be made (a) on the last day of the Interest Period applicable thereto, (b) on a Working Day and (c) if no Default or Event of Default has occurred and is continuing. If no notice is provided by Borrower as to any Adjusted LIBO Rate Advance prior to the end of the then pending Interest Period, such Advance shall, at the end of the Interest Period, automatically become a Base Rate Advance.
Acquisition Advances. The Acquisition Lender agrees to lend from time to time to the Borrowers under its Acquisition Commitment through the last day of the Acquisition Period, subject to and upon the terms and conditions herein set forth, on any Funding Date, such amounts as in accordance with the terms hereof may be requested by the Borrower Representative on behalf of the Borrowers from time to time (each such borrowing, an “Acquisition Advance” and the aggregate outstanding principal balance of all Acquisition Advances from time to time, the “Acquisition Loan”). Each Acquisition Advance shall be in a minimum amount of $200,000 (and in higher increments of $100,000) and shall be made on the date specified in the Borrowers’ Certificate, or telephonic notice confirmed in writing, as described in Section 1.03 hereof.
Acquisition Advances. Each Acquisition Advance shall be made by Lender upon receipt of Borrower’s Request for Advance requesting that Lender fund an Acquisition Advance on a Borrowing Date, which Request for Advance (i) shall be binding on Borrower, (ii) shall specify the Borrowing Date, amount, and Type, and (iii) must be received by Lender not later than 10:00 A.M., Omaha, Nebraska time on the tenth Business Day preceding the Borrowing Date for any Acquisition Advance. The obligation of the Lender to make an Acquisition Advance is subject to each of the following conditions precedent:
Acquisition Advances. (a) Subject as provided below and to Clause 2.3(d)(Purpose), the proceeds of Revolving Advances may be used to fund all or any part of the cash element of the Acquisition Consideration for any Permitted Acquisitions.
