Common use of Advance Facility Clause in Contracts

Advance Facility. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.02 and 3.03, each Conduit Lender may, in its sole discretion, make an Advance to the Borrower on any Borrowing Date from the date hereof to the Termination Date in an amount equal to the Requested Amount. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.02 and 3.03 and during the period from the date hereof to the Termination Date if the Conduit Lenders have declined to make Advances in the full Requested Amount, the Secondary Lenders shall make Advances to the Borrower, ratably in accordance with their respective Secondary Lender Percentages as provided in Section 2.02. Under no circumstances shall any Conduit Lender or any Secondary Lender be obligated to make any such Advance, to the extent that after giving effect to the making of such Advance (i) the aggregate principal amount of all outstanding Advances would exceed the Total Commitment, or (ii) the aggregate principal amount of all outstanding Advances funded by any Secondary Lender under this Agreement and in its capacity as a purchaser under the Asset Purchase Agreement would exceed such Secondary Lender's Secondary Lender Commitment.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Van Kampen Senior Loan Fund), Revolving Credit and Security Agreement (Van Kampen Senior Loan Fund)

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Advance Facility. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.013.01 and 3.02, 3.02 and 3.03, each any Conduit Lender may, in its sole discretion, make an Advance Advances to the Borrower on any Borrowing Date from the date hereof to the Lender Termination Date in an amount equal to the Requested AmountDate. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.01 and 3.02 and 3.03 and during the period from the date hereof to the Secondary Lender Termination Date if the Conduit Lenders have declined to make Advances in the full Requested AmountDate, the Secondary Lenders shall make Advances to the Borrower, ratably in accordance with their respective Secondary Pro-Rata Shares, to the extent the Conduit Lenders in their respective Lender Percentages as provided in Section 2.02Group shall have elected not to make such Advance. Under no circumstances shall any Conduit Lender or any Secondary Lender be obligated to make any such Advance, to the extent that after giving effect to the making of such Advance (i) the aggregate principal amount of all outstanding Advances of the Lenders and Secondary Lenders in its related Lender Group would exceed such Lender Group’s Group Advance Limit, (ii) in the Total Commitmentcase of any Secondary Lender, the aggregate principal amount of all outstanding Advances of such Secondary Lender would exceed its Secondary Lender Commitment or (iiiii) the aggregate principal amount of all outstanding Advances funded by any Secondary Lender under this Agreement and in its capacity as a purchaser under the Asset Purchase Agreement would exceed such Secondary Lender's Secondary Lender the Total Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Advances.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Highland Floating Rate Advantage Fund)

Advance Facility. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.02 and 3.033.02, each any Conduit Lender may, in its sole discretion, make an Advance Advances to the Borrower on any Borrowing Date from the date hereof to the Termination Date Date; provided, that each such Advance shall be made in an amount equal to amounts among the Requested AmountConduit Lenders as determined in their sole discretion. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, and 3.02 and 3.03 and during the period from the date hereof to the Termination Date if the Conduit Lenders have declined to make Advances in the full Requested AmountDate, the Secondary Lenders shall make Advances to the Borrower, ratably in accordance with their respective Secondary Lender Percentages as provided in Section 2.02Commitments, to the extent no Conduit Lender shall have elected to make such Advance. Under no circumstances shall any Conduit Lender or any Secondary Lender be obligated to make any such Advance, to the extent that after giving effect to the making of such Advance (i) the aggregate principal amount of all outstanding Advances would exceed the Total Commitment, or (ii) the aggregate principal amount of all outstanding Advances funded by any Secondary Lender under this Agreement and funded by such Secondary Lender in its capacity as a purchaser under the Asset Purchase Agreement would exceed such Secondary Lender's ’s Secondary Lender Commitment.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (BlackRock Defined Opportunity Credit Trust)

Advance Facility. On the terms and conditions hereinafter set forth, including without limitationSections 3.01 and 3.02, Sections 3.01, 3.02 and 3.03, each the Conduit Lender may, in its sole discretion, make an Advance to the Borrower on any Borrowing Date from the date hereof to the Termination Date in an amount equal to the Requested Amount. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.01 and 3.02 and 3.03 and during the period from the date hereof to the Termination Date if the Conduit Lenders have Lender has declined to make Advances in the full Requested Amount, the Secondary Alternate Lenders shall make Advances to the Borrower, ratably in accordance with their respective Secondary Alternate Lender Percentages as provided in Section 2.02. Under no circumstances shall any the Conduit Lender or any Secondary Alternate Lender be obligated to make any such Advance, to the extent that after giving effect to the making of such Advance (i) the aggregate principal amount of all outstanding Advances would exceed the Total Commitment, or (ii) the aggregate principal amount of all outstanding Advances funded by any Secondary Alternate Lender under this Agreement and in its capacity as a purchaser under the Asset Purchase Agreement would exceed such Secondary Alternate Lender's Secondary ’s Alternate Lender Commitment.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Morgan Stanley Prime Income Trust)

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Advance Facility. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.013.01 and 3.02, 3.02 and 3.03, each the Conduit Lender may, in its sole discretion, make an Advance to the Borrower on any Borrowing Date from the date hereof to the Termination Date in an amount equal to the Requested Amount. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.01 and 3.02 and 3.03 and during the period from the date hereof to the Termination Date if the Conduit Lenders have Lender has declined to make Advances in the full Requested Amountan Advance, the Secondary Lenders shall make Advances to the Borrower, ratably in accordance with their respective Secondary Lender Percentages as provided in Section 2.02. Under no circumstances shall any the Conduit Lender or any Secondary Lender be obligated to make any such Advance, to the extent that after giving effect to the making of such Advance (i) the aggregate principal amount of all outstanding Advances would exceed the Total Commitment, or (ii) the aggregate principal amount of all outstanding Advances funded by any Secondary Lender under this Agreement and in its capacity as a purchaser under the Asset Purchase Agreement would exceed such Secondary Lender's Secondary Lender Commitment.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Van Kampen Senior Loan Fund)

Advance Facility. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.02 3.01 and 3.033.02, each Conduit Lender may, in its sole discretion, make an Advance to the Borrower on any Borrowing Date from the date hereof to the Lender Termination Date in an amount equal to its Pro Rata Share of the Requested Amount. On the terms and conditions hereinafter set forth, including without limitation, Sections 3.01, 3.01 and 3.02 and 3.03 and during the period from the date hereof to the Secondary Lender Termination Date if the a Conduit Lenders have Lender has declined to make Advances in the full Requested Amountan Advance, the Related Secondary Lenders of such Conduit Lender shall make Advances to the Borrower, ratably in accordance with their respective Secondary Lender Percentages as provided in Section 2.02. Under no circumstances shall any Conduit Lender or any Secondary Lender be obligated to make any such Advance, to the extent that after giving effect to the making of such Advance (i) the aggregate principal amount of all outstanding Advances would exceed the Total Commitment, or (ii) the aggregate principal amount of all outstanding, Advances funded by the CRC Related Parties or CRC would exceed the CRC Related Commitment or the aggregate principal amount of all outstanding Advances funded by any Secondary Lender under this Agreement and in its capacity as a purchaser under the Asset Purchase Agreement PRFC Related Parties or PRFC would exceed such Secondary Lender's Secondary Lender the PRFC Related Commitment.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Van Kampen Senior Income Trust)

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