Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.
Advances and Letters of Credit. In no event shall the Bank have any obligation to make an Advance pursuant to the Loan Commitment or issue a Letter of Credit hereunder if there exists a Default Condition or an Event of Default.
Advances and Letters of Credit. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Lender agrees at any time and from time to time to make Advances to the Borrower and issue Letters of Credit for the account of the Borrower from the date hereof until the earlier of the Revolving Credit Expiration Date or the date on which this Revolving Credit Facility is terminated pursuant to Section 7 hereof, in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount. In no event shall the Lender be obligated to make an Advance hereunder if a Default shall have occurred and be continuing. Unless sooner terminated pursuant to other provisions of this Agreement, this Revolving Credit Facility and the obligation of the Lender to make Advances hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Lender. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrower may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Advances or Letters of Credit outstanding at any particular time shall not affect the continuing validity of this Agreement.
Advances and Letters of Credit. Subject to the terms and conditions hereof, Lender agrees to, from time to time until the Commitment Termination Date, (i) make available advances (each, a “Revolving Credit Advance”) to or for the benefit of Borrower as provided for in this Section 2.1, and (ii) incur Letter of Credit Obligations in respect of Borrower as provided for in Annex 13 and this Section 2.1 The aggregate amount of Revolving Credit Advances and Letter of Credit Obligations outstanding shall not exceed at any time the Revolving Loan Commitment. Until the Commitment Termination Date, Borrower may from time to time borrow, repay and reborrow under this Section 2.1. Each Revolving Credit Advance or Letter of Credit Obligation shall be made or incurred on notice by Borrower to the representative of Lender identified on Schedule 2.1 at the address specified thereon. Those notices must be actually received by Lender no later than (1) 10:00 a.m. (California time) on the Business Day of the proposed Revolving Credit Advance in the case of all Revolving Credit Advances, or (2) with respect to Letter of Credit Obligations, 10:00 a.m. (California time) on the date which is at least two (2) Business Days prior to the requested incurrence of such Letter of Credit Obligations. Each such notice (a “Notice of Revolving Credit Advance” or “Notice of Letter of Credit Request,” as the case may be) must be given in writing (by telecopy or overnight courier) substantially in the form of Exhibit 2.1-1 or Exhibit 2.1-2, as the case may be, and shall include the information required in such Exhibit and such other information as may be required by Lender. In addition, a Notice of Letter of Credit Request shall be accompanied by the form of the Letter of Credit (which shall be acceptable to the L/C Issuer) to be guaranteed. Notwithstanding anything contained herein to the contrary, Letter of Credit applications by Borrower and approvals by Lender may be made and transmitted pursuant to electronic codes and security measures mutually agreed upon and established by and among Borrower, Lender and the L/C Issuer.
Advances and Letters of Credit. (a) Subject to the provisions of this Agreement, including without limitation the satisfaction of the conditions described in Article III, Lender agrees to establish a Revolving Loan Facility pursuant to which Lender may, in its sole discretion upon request of Borrower, make and incur Credit Accommodations in support of Export Orders, provided the Credit Accommodation Amount at any time shall not exceed the lesser of (i) the Maximum Amount, and (ii) the Export-Related Borrowing Base. All Letters of Credit issued shall be in Dollars and all Disbursements shall be made in Dollars.
Advances and Letters of Credit. 33 2.1 Advances-General..................................................... 33 2.2 Alternate Base Rate Advances......................................... 34 2.3 Eurodollar Rate Advances............................................. 35 2.4 Conversion and Continuation of Advances.............................. 35 2.5
Advances and Letters of Credit. (a) Subject to the terms and conditions hereof, Lender may, in its sole discretion and with no obligation to do so, from time to time, at Lender’s option, until the Revolving Credit Termination Date, (i) make available advances in Dollars (each, a “Revolving Credit Advance”) to or for the benefit of a Borrower as provided for in this Section 2.1, and (ii) incur Letter of Credit Obligations in Dollars (except as otherwise agreed by Lender or Issuing Bank) in respect of a Borrower as provided for in Annex B and this Section 2.1. The Lender will disburse Revolving Credit Advances to each Borrower by depositing the amount of each such Revolving Credit Advance to the applicable Borrower’s Disbursement Account pursuant to Section 2.10 hereof. The aggregate amount outstanding of Revolving Credit Advances and Letter of Credit Obligations shall not exceed at any one time the Revolving Credit Ceiling less the outstanding balance of all undrawn or unreimbursed Letters of Credit.
Advances and Letters of Credit. 2 2.1. Revolving Credit Advances and Borrowings 2 2.2. Prepayments/Commitment Termination 3 2.3. [Intentionally Omitted.] 6
Advances and Letters of Credit. (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Advances to the Company from time to time prior to the Termination Date, in amounts not to exceed in the aggregate at any one time outstanding the amount of its Commitment, which Advances shall be each Bank's Ratable Share of such amounts as the Company may request up to, but not exceeding, a total principal amount equal to the lesser of (i) the Total Commitments minus any Letter of Credit Exposure, or (ii) the Borrowing Base; provided, however, that no Bank shall be obligated to make any Advance pursuant to a particular Rate Option at any time when such Rate Option exceeds the Highest Lawful Rate. Subject to the terms of this Agreement, the Company may borrow, repay and reborrow at any time prior to the Termination Date. Such loans may be Floating Rate Advances, Fixed CD Rate Advances or Eurodollar Advances, or a combination thereof, determined in accordance with Section 2.7. Each Advance shall bear interest at one of the Rate Options selected in accordance with Section 2.7 or otherwise as provided in Section 2.7, and shall be paid in full by the Company on the Termination Date.
Advances and Letters of Credit. The Bank agrees, on the terms and conditions set forth in this Agreement, to make Advances to the Borrower and to issue Letters of Credit for the account of the Borrower from time-to-time on any Business Day during the period from the date of this Agreement until the Maturity Date, provided that (i) no Advance shall be made and no Letter of Credit shall be issued, amended, or extended if, after giving effect thereto, the Aggregate Exposure would exceed the lesser of the Commitment and the Available Amount, and (ii) each Advance shall be in an aggregate principal amount not less than $1,000,000 and in integral multiples thereof (except with respect to Base Rate Advances for the purpose of repaying Reimbursement Obligations). Within the limits set forth above, the Borrower may from time-to-time borrow, prepay pursuant to Section 2.07 and reborrow under this Section 2.01.
