Advances on the Loans Sample Clauses

Advances on the Loans. (A) All advances to or for the benefit of the Borrower with respect to the Revolving Credit Note will be charged to loan accounts established in the name of the Borrower on the Bank’s books.
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Advances on the Loans. Balances outstanding on the date hereof on the ------------------------ $20,000,000 revolving credit facility from BankBoston to Borrower (and any overlines from BankBoston to Borrower) and on the $10,000,000 revolving credit facility from Fleet to Borrower (and any overlines from Fleet to Borrower) shall be paid on the date hereof by advances on the Loans. Borrower shall request further advances from time to time in any manner acceptable to Borrower and Agent, and Agent shall credit advances by depositing such sums in Borrower's account at Agent, Account Number 51233985. Immediately upon notice from Agent of an advance, each Lxxxxx xxall reimburse Agent in an amount equal to the total advance times such Lender's Percentage. Advances on the Loans shall be limited in amount to no more than the Borrowing Base as reported in a Borrowing Base Certificate delivered to Agent and each Lender simultaneously with each request for an advance. By requesting an advance, Borrower shall be deemed to represent and warrant that the information in the most recent Borrowing Base Certificate remains true and accurate as of the time of such request, and that after giving effect to the requested advance, the outstanding principal amount of the Loans shall not exceed the Borrowing Base. In the event that the aggregate outstanding principal amount of the Loans shall at any time exceed the Borrowing Base as determined by Agent, Borrower shall immediately and without notice or demand pay to Agent the amount of such excess. Borrower shall make payments on the Loans to Agent, and Agent shall immediately pay to each Lender an amount equal to the total payment times such Lender's Percentage.
Sample 1

Related to Advances on the Loans

  • Ratable Loans Each Advance hereunder shall consist of Loans made from the several Lenders ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Ratable Loans; Types of Advances Each Advance hereunder (other than any Swing Line Loan) shall consist of Revolving Loans made from the several Lenders ratably according to their Pro Rata Shares. The Advances may be Base Rate Advances or Eurocurrency Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.8 and 2.9, or Swing Line Loans selected by the Borrower in accordance with Section 2.4.

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

  • Repayment of the Loans The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Laurus under this Agreement and the Ancillary Agreements; and (c) subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

  • Loans and Advances The Company does not have any outstanding loans or advances to any person and is not obligated to make any such loans or advances, except, in each case, for advances to employees of the Company in respect of reimbursable business expenses anticipated to be incurred by them in connection with their performance of services for the Company.

  • Investments, Loans and Advances Purchase, hold or acquire any Equity Interests, evidences of indebtedness or other securities of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other person, except:

  • Funding the Loans If a Loan has been allocated to a Lender and Borrower pursuant to Section 3.1.2 hereof, and the Loan is otherwise in compliance with the requirements set forth in the Order, the Lender shall make such Loan to the Borrower. The proceeds of each Loan made by the Lender to the Borrower shall be wired (or transferred if Borrower and Lender have the same custodian) at the Borrower’s expense in accordance with the wiring instructions for each Fund, as in effect from time to time, to an account maintained on the Borrower’s behalf by its custodian.

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Procedure for Advances of Revolving Credit Loans and Swingline Loans Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans

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