Advances and Interest Clause Samples
Advances and Interest. (a) All Loans requested by ▇▇▇▇▇▇▇▇ must be requested by 11:00 A.M. Arizona time, five (5) Business Days prior to the date of such requested Loan. All requests or confirmations of requests for a Loan are to be in writing to Administrative Agent and may be sent by telecopy or facsimile transmission or by email provided that Administrative Agent shall have the right to require that receipt of such request not be effective unless confirmed via telephone with Lender. Borrower may not request more than one (1) Loan per calendar month. As express conditions precedent to Lender making each Loan to ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ shall deliver to Administrative Agent the documents, instruments and agreements required pursuant to Sections 2.4, 2.5, 2.6 and 2.7 (as applicable) of this Agreement (including, without limitation, the Loan Advance Request Form). Except as otherwise provided in this Section 2.2(a), all Loans under this Agreement shall be made by the Lenders simultaneously and proportionately to their Pro Rata Shares of the Total Commitments, as the case may be, it being understood that no Lender shall be responsible for any default by any other Lender in that other Lender’s obligations to make a Loan requested hereunder, nor shall the Commitment of any Lender be increased or decreased as a result of the default by any other Lender in that other ▇▇▇▇▇▇’s obligation to make a Loan requested hereunder, and each Lender shall be obligated to make the Loans required to be made by it by the terms of this Agreement regardless of the failure by any other Lender.
(b) The following amounts shall be deducted from each Loan advanced hereunder: (i) as to the Tranche A Loan advanced hereunder, the applicable Commitment Fee and the Tranche A Documentation and Funding Expenses, (ii) as to the Tranche B Loan, the applicable Commitment Fee and the Documentation and Funding Expenses and (iii) as to the Tranche C Loan, the applicable Commitment Fee and the Documentation and Funding Expenses.
(c) Beginning on the date of each Advance, the unpaid principal balance of all advanced Loans and all other Obligations hereunder shall bear interest, subject to the terms hereof, at the Applicable Rate. All payments shall be due to Administrative Agent on the applicable Payment Date, or if such day is not a Business Day, the next succeeding Business Day. If Borrower fails to make a monthly payment due within five (5) Business Days after the date such payment is due, Administrative Agent, on behalf of...
Advances and Interest. (a) The Loan must be requested by Borrower by 11:00 A.M. Arizona time, five (5) Business Days prior to the date of such requested Loan. All requests or confirmations of requests for a Loan are to be in writing and may be sent by telecopy or facsimile transmission or by email provided that Lender shall have the right to require that receipt of such request not be effective unless confirmed via telephone with Lender. As express Conditions Precedent to Lender making each Loan to Borrower, Borrower shall deliver to Lender the documents, instruments and agreements required pursuant to Section 2.3 of this Agreement (including, without limitation, the Loan Payment Request Form).
(b) The following amounts shall be deducted from the Loan: the Closing Fee and the Documentation and Funding Fee. The unpaid principal balance of the Loan and all other Obligations hereunder shall bear interest, subject to the terms hereof, at the Interest Rate. The Loan shall be repaid with interest at the Interest Rate computed on a year of 360 days for the number of days in each month. All payments shall be due on the Payment Date, or if such day is not a Business Day, the next succeeding Business Day. If Borrower fails to make a monthly payment due within five (5) Business Days after the date such payment is due, Borrower shall pay to Lender a late charge equal to ten percent (10%) of the past due payment amount. After the occurrence and during the continuance of an Event of Default hereunder, the per annum effective rate of interest on the Loan outstanding hereunder, shall be increased to a rate equal to 500 basis points in excess of the Interest Rate; provided, however, that the per annum effective rate shall automatically and immediately decrease by the same 500 basis points on the Loan outstanding hereunder as soon as Borrower shall have paid all late payments and the 10% penalty thereon. All contractual rates of interest chargeable on the Loan shall continue to accrue and be paid even after default, maturity, acceleration, judgment, bankruptcy, insolvency proceedings of any kind or the happening of any event or occurrence similar or dissimilar. In no contingency or event whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such court d...
Advances and Interest. Upon the occurrence of any Event of Default, Landlord may, if such default has not been cured, cure that default for the account and at the expense of Tenant. If Landlord is curing such default is compelled to pay or elects to pay any sum of money or do any acts which will require the payment of any sum of money, the sum so paid or incurred shall be reimbursed by Tenant upon demand by Landlord. All sums as to which Tenant is in default of payment shall bear interest at the rate of Twelve percent (12%) per annum until paid.
Advances and Interest. 12 SECTION 2.06. Prepayments................................13 SECTION 2.07.
Advances and Interest. 3.1 Subject to the terms and conditions of this Agreement, we shall make up to an aggregate of $7,500,000.00 (the "Maximum Credit Facility") available to you and your affiliates Blumenthal/Lansing Company and Westwater Industries, Inc. (▇▇▇▇▇▇▇▇▇ to each such affiliate under their respective financing agreements), at closing as follows: (i) a Term Loan, evidenced by the Term Loan Promissory Note of even date herewith, in the principal amount of $2,000,000 (herein the "Term Loan"), and (ii) revolving credit advances in an amount of up to $500,000 in the aggregate outstanding at any time made to you upon your request therefor, as follows:
(a) we will make revolving credit advances to you, in our sole discretion exercised by us in accordance with our reasonable business judgment, in amounts of up to the lesser of (i) $500,000, or (ii) the difference between (x) the net value of the securities and/or cash equivalents pledged to us by Robert A. Levinson pursuant to a Pledge of B▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇ herewith, based on the trading value of such securities less any unpaid costs, fees or commission as of the date of calculation thereof and (y) the outstanding amount of the Term Loan.
(b) subject to the foregoing, you may borrow, repay and reborrow revolving advances, within and subject to the limitations and terms and condition hereof.
3.2 Without in any way circumscribing our rights under this Agreement, and by way of illustration only and not by way of limitation, we may, in the exercise of our sole discretion, at any time and from time to time, hold any reserve we deem necessary as security for the payment and performance of your Obligations, and/or change any advance rates or entirely cease making advances (including, without limitation, any overadvances). In no event shall the aggregate amount of all revolving credit advances (including, without limitation, any overadvances) made pursuant to paragraph 3.1 (a) above, from time to time outstanding, exceed the Maximum Credit Facility.
3.3 All loans and advances (including, without limitation, any overadvances) by us to you under this Agreement shall constitute Obligations secured by our security interest in all of the Collateral granted hereunder, and by all other security interests, liens, and encumbrances heretofore, now or at any time or times hereafter granted by you to us. All loans or advances (including, without limitation, any overadvances) shall be charged to your account on our books, and shall...
Advances and Interest. 3.1 Subject to the terms and conditions of this Agreement, we shall make up to an aggregate of $7,500,000.00 (the "Maximum Credit Facility") available to you and your affiliates, Westwater Industries, Inc. (under our separate Accounts Receivable Financing Agreement with such borrower) and Carlyle Industries, Inc. (under our separate Financing Agreement with such borrower) (available to each such affiliate under their respective financing agreements)upon request therefor, as follows:
(a) we will make revolving credit advances to you, in our sole discretion exercised by us in accordance with our reasonable business judgment, in amounts of up to eighty-five percent (85%) of the Net Amount of Eligible Accounts.
(b) subject to your execution and delivery of an inventory security agreement supplement in form and substance satisfactory to us, we will make revolving credit advances to you, in our sole discretion exercised by us in accordance with our reasonable
Advances and Interest. Upon the occurrence of any Event of Default, Landlord may, if such default has not been cured, cure that default for the account and at the expense of Tenant. If Landlord is curing such default is compelled to pay or elects to pay any sum of money or do any acts which will require the payment of any sum of money, the sum so paid or incurred shall be reimbursed by Tenant upon demand by Landlord All sums as to which Tenant is in default of payment shall bear interest at the rate of eighteen percent (18%) per annum until paid.
Advances and Interest. (a) If the LC Bank shall --------------------- make any payment under a Letter of Credit upon a Tender Drawing submitted thereunder pursuant to Section 4.01 of the relevant Indenture and, on the date of such payment, the conditions precedent set forth in Section 3.03 shall have been fulfilled, the portion of such payment corresponding to principal on the Bonds shall constitute an advance made by the Banks to the Company on the date and in the amount of such payment (each such advance being an "Advance"). The Company shall pay interest on the unpaid principal amount of each Advance monthly in arrears on the last Business Day of each month (or, if earlier, the last day of an Interest Period for an Advance), and on the date of repayment of such Advance. Each Advance shall bear interest from the date of the incurrence thereof until the date upon which such Advance is paid in full at the Base Rate unless the Company has elected to pay interest at the Eurodollar Rate pursuant to subsection (b) below. Notwithstanding any other provision to the contrary herein, each Advance shall be due and payable by the Company to the Banks on the earlier of (i) the Cancellation Date, (ii) the date 180 days from the making of such Advance, (iii) the date specified in Section 2.06(b) below, and (iv) the date required by Section 6.02. (b) The Company may from time to time elect to convert any Advance to a Eurodollar Rate Advance by notice to the Administrative Agent, specifying the Advance, the duration of the Interest Period for such Advance, the amount of such Advance, and the date on which such Advance shall become a Eurodollar Rate Advance, such notice to be received by the Administrative Agent by 11:00 A.M. (New York time) at least three Business Days prior to the effective date of the requested conversion. Such Advance shall continue to be a Eurodollar Rate Advance, with an Interest Period of the duration selected by the Company in accordance with the immediately preceding sentence, determined by the Administrative Agent in accordance herewith, until the Company shall elect, by written notice to the Administrative Agent in accordance with the next following sentence, to convert such Advance to a Base Rate Advance or to convert the Interest Period for such Advance to an Interest Period of a different duration. Any such notice to the Administrative Agent requesting a conversion from a Eurodollar Rate Advance to a Base Rate Advance, or to an Interest Period of a different durat...
Advances and Interest. (A) Provided that an Event of Default does not then exist, and provided that all of the conditions precedent in SECTION 6 of this Loan Agreement have been satisfied, LaSalle shall make Advances to Binks an aggregate amount not to exceed Five Million and no/100 Dollars ($5,000,000.00) at any time, minus the aggregate amount of any Foreign Exchange Obligations. Excepting only the Foreign Exchange Obligations, all Advances pursuant to this SECTION 3 shall bear interest at the interest Rate accrued on the outstanding daily unpaid principal of each Advance (based upon a 360-day year) from the date thereof until payment in full is made.
(B) LaSalle will disburse the proceeds of the loan in one or more Advances (each such disbursement, an "Advance") as requested by Binks. Each request by Binks for an Advance shall be made pursuant to a Request for Loan received by LaSalle, not later than 12:00 noon, Chicago time, (a) with respect to a request for an Advance at the Prime Rate or at the Bankers Acceptance Rate, on the Business Day which is the first day of the applicable interest period, and (b) with respect to a request for an Advance at the LIBOR Rate, on the Business Day which is two Business Days prior to the first day of the LIBOR Interest Period.
Advances and Interest. 1.1 Any request for the Advance shall be made no later than 10 am London time on the relevant funding date.
1.2 The Advance shall be denominated in pounds sterling and shall be made in such amount and for such duration as the Borrower may consider appropriate, save that the Advance shall be of a principal amount not greater than L.12,703,888.
1.3 Interest on the Advance shall be charged at a rate equal to the cost to the Lender as determined by the Lender of borrowing the relevant amount and shall be calculated on a daily basis on the principal amount of the Advance, based on a 365 day year. Payments of interest in respect of the Advance shall be made on each anniversary of the date of drawdown of the Advance on a day (other than on Saturday or Sunday) which is not a public holiday on which banks are open for general business in London and New York City whilst such Advance is outstanding and on the maturity date or date of repayment of the Advance.
1.4 The purpose of the Advance is the general corporate purposes of the Borrower.