Common use of Administrative Agent Advances Clause in Contracts

Administrative Agent Advances. (a) Administrative Agent is hereby authorized by Parent, Borrower, and Lenders, from time to time, in Administrative Agent’s sole discretion, to make advances under this Agreement, or otherwise expend funds, on behalf of Lenders (“Administrative Agent Advances”), (i) to pay any costs, fees, and expenses as described in Section 11.04(a), (ii) when Administrative Agent reasonably deems necessary to preserve or protect the Collateral or any portion thereof (including with respect to property taxes and insurance premiums) and (iii) to pay any costs, fees, or expenses in connection with the operation, management, improvements, maintenance, repair, sale, or disposition of any Borrowing Base Property, (A) after the occurrence of an Event of Default, or (B) subject to Section 10.10, after acquisition of all or a portion of the Collateral by foreclosure or otherwise; provided that Administrative Agent Advances (other than to pay taxes and insurance with respect to the Borrowing Base Properties) shall not exceed $5,000,000 in the aggregate without the prior consent of Required Lenders.`

Administrative Agent Advances. (a) Administrative Agent is hereby authorized by Parent, Borrower, and Lenders, from time to time, in Administrative Agent’s sole discretion, to make advances under this Agreement, or otherwise expend funds, on behalf of Lenders (“Administrative Agent Advances”), (i) to pay any costs, fees, and expenses as described in Section 11.04(a), (ii) when Administrative Agent reasonably deems necessary to preserve or protect the Collateral or any portion thereof (including with respect to property taxes and insurance premiums) and (iii) to pay any costs, fees, or expenses in connection with the operation, management, improvements, maintenance, repair, sale, or disposition of any Borrowing Base Property, (A) after the occurrence of an Event of Default, or (B) subject to Section 10.10, after acquisition of all or a portion of the Collateral by foreclosure or otherwise; provided that Administrative Agent Advances (other than to pay taxes and insurance with respect to the Borrowing Base Properties) shall not exceed $5,000,000 in the aggregate without the prior consent of Required Lenders.`’

Administrative Agent Advances. (a) Administrative Agent is hereby authorized by Parent, Borrower, and Lenders, from time to time, in Administrative Agent’s sole discretion, to make advances under this Agreement, or otherwise expend funds, on behalf of Lenders (“Administrative Agent Advances”), (i) to pay any costs, fees, and expenses as described in Section 11.04(a), (ii) when Administrative Agent reasonably deems necessary to preserve or protect the Collateral or any portion thereof (including with respect to property taxes and insurance premiums) and (iii) to pay any costs, fees, or expenses in connection with the operation, management, improvements, maintenance, repair, sale, or disposition of any Borrowing Base Property, (A) after the occurrence of an Event of Default, or (B) subject to Section 10.10, after acquisition of all or a portion of the Collateral by foreclosure or otherwise; provided that Administrative Agent Advances (other than to pay taxes and insurance with respect to the Borrowing Base Properties) shall not exceed $5,000,000 in the aggregate without the prior consent of Required Lenders.`