Advance Procedure Sample Clauses

Advance Procedure. Except as provided below, Borrower may request an Advance by submitting to Lender a Request for Advance signed by an authorized representative of Borrower, subject to the following: (i) each Request for Advance shall include, without limitation, the proposed amount of that Advance and the proposed Disbursement Date, which Disbursement Date must be a Business Day and must be at least five (5) Business Days after the date of delivery to Lender of the Request for Advance; (CYPRESS/FAIRFIELD) (ii) a Request for Advance, once communicated to Lender, shall not be revocable by Borrower; (iii) each Request for Advance, once communicated to Lender, shall constitute a representation, warranty, and certification by Borrower as of the date of that Request for Advance that: (A) both before and after the making of that Advance, all of the Loan Documents are valid, binding, and enforceable against each Loan Party, as applicable; (B) all terms and conditions precedent to the making of that Advance are satisfied, and shall remain satisfied through the date of that Advance; (C) the making of that Advance shall not cause the aggregate principal amount of all Advances under the Note to exceed the Loan Amount; (D) no Event of Default has occurred which is continuing, and no Event of Default exists or arises on the making of that Advance; (E) the representations and warranties contained in this Agreement and the other Loan Documents are true and correct in all material respects and to Borrower’s knowledge will be true and correct in all material respects as of the making of that Advance; and (F) the Advance does not violate the terms or conditions of any contract, indenture, agreement, or other borrowing of any Loan Party. Lender shall not be obligated to make any Advance under this Agreement more than once in any thirty (30)-day period. Except as set forth in this Agreement, all Advances are to be made by direct deposit into the Depository Account.

Advance Procedure. Prior to the Commitment Termination Date, the Borrower may from time to time request that an Advance be made. Each Advance following the Initial Advance shall be in an amount that is equal to the lesser of (a) the amount of the Commitment Amount not outstanding, or (b) the allowable Project Equity Advance for the applicable Project. The request shall be made by delivering a Application for Advance to the Lender not less than fifteen (15) calendar days prior to the date upon which such Advance is to be made and, if all such conditions precedent to such Advance have been satisfied, the Lender shall make such Advance directly to the Borrower by wire transfer to the accounts the Borrower shall have specified in its Application for Advance.

Advance Procedure. With respect to each advance and all matters and transactions in connection therewith, Borrower hereby irrevocably authorizes Bank to accept, rely upon, act upon and comply with any oral or written instructions, requests, confirmations and orders of any employee or representative of Borrower who is so authorized or designated as a signer of Loan documents under the provisions of Borrower’s most recent Banking and Borrowing Resolutions or similar document on file with Bank. Borrower acknowledges that the transmission between Borrower and Bank of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as may be necessary to protect its interest. By reason thereof, Borrower hereby assumes all risk of loss and responsibility for, releases and discharges Bank from any and all responsibility or liability for, and agrees to indemnify, reimburse on demand and hold Bank harmless from, any and all claims, actions, damages, losses, liability and expenses by reason of, arising out of, or in any way connected with or related to: (i) Bank’s accepting, relying and acting upon, complying with or observing any such instruction, request, confirmation or order; and (ii) any such error, omission, mistake, or discrepancy, provided such error, omission, mistake or discrepancy is not the result of negligence on the part of Bank.

Advance Procedure. (a) Subject to compliance with Section 1.4 and Article VIII, Borrower may request the Advance of the Loan by submitting an Advance Request to Administrative Agent, and Administrative Agent shall promptly notify each Lender of the Advance Request and its contents. An Advance Request is irrevocable and binding on Borrower. Each Advance Request must be received by Administrative Agent no later than 12:00 p.m. Houston, Texas, Time on the third (3rd) Business Day preceding the proposed Advance date. (b) By 11:00 a.m. Houston, Texas, time on the Advance date, each Lender shall remit its Percentage Share of each requested Advance by wire transfer to Administrative Agent pursuant to Administrative Agent’s wire transfer instructions on Appendix B (or as otherwise directed by Administrative Agent) in funds that are available for immediate use by Administrative Agent. Subject to receipt of such funds, Administrative Agent shall make such funds available to Borrower as directed in the Advance Request (unless it has actual knowledge that any applicable condition precedent has not been satisfied by Borrower). (c) Absent contrary written notice from a Lender, Administrative Agent may assume that each Lender has made its Percentage Share of the requested Advance available to Administrative Agent on the applicable Advance date, and Administrative Agent may, in reliance upon such assumption (but is not required to), make available to Borrower a corresponding amount. If a Lender fails to make its Percentage Share of any requested Advance available to Administrative Agent on the applicable Advance date, Administrative Agent may (to the extent such amount was actually advanced to Borrower) recover the applicable amount on demand from that Lender, together with interest at the Prime Rate for the period commencing on the date the amount was made available to Borrower by Administrative Agent and ending on (but excluding) the date Administrative Agent recovers the amount from that Lender.

Advance Procedure. (a) Borrower may request an Advance under the Revolving Credit Facility by submitting an Advance Request to Agent. An Advance Request is irrevocable and binding on Borrower. Each Advance Request must be received no later than 11:00 a.m. on the Business Day immediately preceding the date of the proposed Advance. Advances under this Agreement may be made by Agent pursuant an oral request of Borrower but Borrower covenants and agrees to furnish to Agent written confirmation of any such oral request within 2 days after the date of the Advance, but any such Advance shall be deemed to be made under and entitled to the benefits of this Agreement irrespective of any failure by Borrower to furnish such written confirmation. (b) Agent shall make each Advance available to Borrower by funding such Advance to Borrower’s Operating Account, and all amounts made available to Borrower by Agent (whether in Borrower’s Operating Account or otherwise) shall be deemed to be Advances made pursuant to this Agreement. (c) Each Advance under the Revolving Credit Facility (i) must occur on a Business Day and no later than the Business Day immediately preceding the Revolving Credit Termination Date, (ii) may not exceed an amount equal to the excess of the Revolving Committed Amount over the Revolving Principal Amount, and (iii) after giving effect to any Advance, the Revolving Principal Amount may not exceed the Revolving Committed Amount. (d) Upon its receipt of an Advance Request from Borrower, Agent shall promptly notify each Lender of the Advance Request and its contents. By 12:00 noon on the date of the proposed Advance, each Lender shall either remit its Revolving Commitment Percentage of each requested Advance by wire transfer to Agent pursuant to Agent’s wire transfer instructions (or as otherwise directed by Agent) in funds that are available for immediate use by Agent or confirm in writing that it has wired such amount directly to the Borrower’s Operating Account. Subject to receipt of such funds, Agent shall make such funds available to Borrower in the Borrower’s Operating Account. Absent contrary written notice from a Lender, Agent may assume that each Lender has made its Revolving Commitment Percentage of the requested Advance available to Agent or to Borrower on the date of the proposed Advance. If a Lender has confirmed that it will remit funds to Agent, then Agent may, in reliance upon such assumption (but is not required to), make available to Borrower a correspondin...

Advance Procedure. To obtain advances under the Working Capital Note, the Borrower will notify the Lender of the total amount of the requested advance, and will provide to the Lender a Borrowing Base Certificate, together with such additional documents and information as Lender reasonably may request with respect to the Advance. Any request by Borrower for an advance hereunder shall be in writing, or by telephone and in writing, and, unless waived by Lender, must be given so as to be received by Lender not later than noon (Oklahoma City time) on the requested advance Date. Each request for an advance hereunder shall be irrevocable and shall be deemed a representation by Borrower as of the date thereof and after giving effect to the requested advance the applicable conditions specified in Section 7 have been and will be satisfied, except for those conditions waived in writing by Lender with respect to such request. Each request for an advance hereunder shall specify (i) the requested advance date and (ii) the amount to be advanced. Lender may rely on any telephone request by a Senior Officer of Borrower or by Senior Officer of SunLink as agent for the Borrower for an Advance hereunder which it believes in good faith to be genuine (provided that Borrower or SunLink as agent for Borrower shall also be required to promptly confirm to Lender each telephone request in writing); and Borrower hereby waives the right to dispute Lender’s record of the terms of such telephone request. “Senior Officer” means as to Borrower its Chief Executive Officer, President, or Chief Financial Officer, and as to SunLink its Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, Controller or any Executive Vice President. Borrower shall provide the Lender with a certificate as to the current names of such Senior Officers and any other person(s) who are authorized on behalf of Borrower to represent the Borrower in connection with a request for funds under the Working Capital Note.

Advance Procedure. The proceeds of each Money Advance must be used to purchase Eligible Equipment or to pay off other lenders for amounts owed on Equipment traded in for Eligible Equipment or with respect to the prior purchase of Eligible Equipment. At the time of each Money Advance, Borrower must: (i) submit a completed loan request on a form acceptable to Bank; and (ii) deliver to Bank a true and accurate copy of each invoice or other documents of transfer for Eligible Equipment (identifying said item as Eligible New Equipment or Eligible Used Equipment) being purchased by the use of the proceeds of the Money Advance requested. Money Advances requested by Borrower and approved by Bank will be either: (i) wired directly to the vendor of the Eligible Equipment for the purchase of Eligible Equipment chosen by Borrower; or (ii) wired to Borrower to reimburse Borrower for Eligible Equipment already purchased by Borrower (including, but not limited to, payoffs of previous financing for such Equipment) if Borrower meets all remaining conditions in this Agreement and in the Notes to the making of Money Advances. Within 10 business days of the date of each Money Advance, Borrower must: (i) properly note the lien of the Bank on the application for the Certificate of Title for each such item of Eligible Equipment purchased with the Money Advance; and (ii) provide proof of the notation of Bank’s lien on the Eligible Equipment for which a Money Advance has been made in the form of a photocopy of the application for Certificate of Title, which must be mailed to Bank on the date on which such application for Certificate of Title is submitted to the governmental agency processing such application. Upon reasonable notice to Borrower and during normal business hours, Bank may inspect Borrower’s records pertaining to Certificates of Title and applications for Certificates of Title pertaining to Collateral. Borrower must mail Bank photocopies of the Certificates of Title for Collateral that it receives from governmental agency issuing such Certificates of Title within 2 business days of receipt of same.

Advance Procedure. Advances shall be made pursuant to the Company's written or facsimile request therefor (a "Request for an Advance"), given by the Company to Purchasers no later than three (3) Business Days prior to the date of disbursement (other than for the initial Advance hereunder if on the Closing Date) stating the date of the proposed borrowing, and the amount of the aggregate and each Purchaser's Advance. Each Request for an Advance shall be signed by an authorized person of the Company. Each borrowing shall consist of an Advance made by each Purchaser in an amount equal to its Pro-Rata Percentage of such borrowing and shall be in $100,000 multiples from each Purchaser (treating EOF and EOFC as a single Purchaser for this purpose only) and aggregate not less than $1,000,000 from all Purchasers. Each Purchaser shall make available to the Company in immediately available funds the amount of such Purchaser's Pro-Rata Percentage of the Advances on the date requested in the Request for an Advance. In the event that upon any request for an Advance Branxxxx Capital Corporation ("BCC") shall not have received the exemptive order necessary for it to purchase Notes and Warrants as provided herein, then each other Purchaser shall have the option to advance its pro rata portion of the Advance that otherwise would have been required of BCC.

Advance Procedure. Advances shall be made in accordance with a written request therefor executed by (a) Xxxxx Xxxxx, Chief Financial Officer of SBC, or (b) Xxxxxx Man Kit Chow, Chief Financial Officer to SGC and SC, in each case in original form or by facsimile, and delivered to Lender, or an oral telephone request made by Xxxxx Xxxxx or Xxxxxx Man Kit Chow. Any telephonic notice is to be confirmed in writing within 24 hours of the giving of such notice. Advances shall be conclusively deemed to have been made at the request of and for the benefit of the Borrower (i) when credited to any deposit account of Borrower maintained with Lender or (ii) when paid in accordance with Borrower's written or oral instructions. Subject to the conditions precedent contained in Sections 4.1 and 4.2, Advances shall be made by Lender on the second Business Day following receipt by Lender of the related request if such request is received not later than 1:00 p.m. (California time) on a Business Day. Requests for Advances received after such time may, at Lender's option, be deemed to have been received on the next Business Day. No Advances will be made after the Maturity Date.

Advance Procedure. Subject to Section 1.4 hereof, the Lender shall advance the proceeds of the Note to the Borrower pursuant to written wire instructions provided by the Borrower to the Lender.