Amount of Each Advance Sample Clauses

Amount of Each Advance. (a) The proceeds of the Building Loan and Project Loan shall, assuming satisfaction of all applicable conditions precedent, be advanced (x) in accordance with the Cost Allocation Methodology (subject to Section 3.20 hereof) and (y) in amounts which shall be equal to the aggregate of the Building Loan Costs and Project Loan Costs incurred by Borrower with respect to each of the FC Units and the NYTC Units (measured individually) and already paid, or due and payable through the end of the period covered by the Draw Request in question, on the basis of the documented cost of Stored Materials and of the work and items in place or completed, less the following amounts with respect to each of the FC Units and the NYTC Units, measured individually (without duplication): (i) the aggregate amount of any Advances previously made hereunder and under the Project Loan Agreement by Lenders with respect to such Units, measured individually, allocable to such Units as of the date of the applicable Building Loan Advance and Project Loan advance); (ii) any Building Loan Costs and Project Loan Costs with respect to such Units covered by such Draw Request that are not approved by Agent; and (iii) the Initial Required Equity Funds, and all other amounts contributed, directly or indirectly, by Borrower or any Borrower Entity (whether pursuant to a Completion Deposit that has not been released pursuant to Section 3.06 below or otherwise) for Building Loan Costs and Project Loan Costs with respect to such Units, but only to the extent theretofore advanced and used to pay Building Loan Costs or Project Loan Costs or expected to be advanced and so used prior to or simultaneously with the Advance in question. (b) The excess, if any, of the Building Loan Costs and Project Loan Costs for each of the FC Units and NYTC Units (measured individually) incurred to the end of the period covered by the Draw Request in question, and already paid, or due and payable through the end of the period covered by the Draw Request in question, over the aggregate Advances by Lenders for Building Loan Costs and Project Loan Costs with respect to such Units (including the Advance and “Advance” under the Project Loan with respect to the Draw Request in question) shall be payable by Borrower pursuant to, and from the sources (other than Initial Required Equity Funds) described in, clause (iii) of Section 3.05(a) above (and not out of the proceeds of the applicable Loan). (c) The following amounts (“Retainag...
Sample 1
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Amount of Each Advance. Each Eurodollar Rate Advance shall be in a principal amount of $5,000,000 or a higher integral multiple of $500,000, and each Floating Rate Advance shall be in a principal amount of $3,000,000 or a higher integral multiple of $500,000; PROVIDED that any Floating Rate Advance made on any date may be in the amount by which the Total Commitment Amount on such date EXCEEDS the Total Outstandings on such date; and PROVIDED, FURTHER, that the principal amount of any Floating Rate Advance made to repay Swing Loans in accordance with SECTION 2.07(C)(I) may be in the principal amount required to repay such Swing Loans.
Sample 1
Amount of Each Advance. The principal amount of an Advance under the Cash Advance Facility must be at least: (a) for Advances denominated in AUD: AUD200,000 and thereafter in multiples of no less than AUD100,000; (b) for Advances denominated in USD: USD500,000 and thereafter in multiples of no less than USD100,000; and (c) for Advances denominated in GBP: GBP350,000 and thereafter in multiples of no less than GPB50,000.
Sample 1
Amount of Each Advance. No advance under the Floor Plan Facility made to finance a New Vehicle shall exceed one hundred percent (100%) of dealer cost.
Sample 1
Amount of Each Advance. No advance under the Floor Plan Facility made to finance a Used Vehicle shall exceed the lesser of (A) dealer cost or (B) $1,000 in excess of the then-current Black Book “clean” wholesale value on the Used Vehicle; provided that, if the Used Vehicle is purchased at an auction using an auction house approved by the Administrative Agent in its reasonable discretion, then the amount of the advance shall not exceed the purchase price for the Used Vehicle.
Sample 1
Amount of Each Advance. No advance hereunder for a Loaner Vehicle that is a New Vehicle shall exceed one hundred percent (100%) of dealer cost. No advance hereunder for a Loaner Vehicle that is a Used Vehicle shall exceed the lesser of (A) dealer cost or (B) $1,000 in excess of the then-current Black Book “clean” wholesale value on the Loaner Vehicle; provided that, if the Loaner Vehicle is purchased at an auction using an auction house approved by the Administrative Agent in its reasonable discretion, then the amount of the advance shall not exceed the purchase price for the Loaner Vehicle.
Sample 1

Related to Amount of Each Advance

  • Minimum Amount of Each Advance Each Eurodollar Advance shall be in the minimum amount of $5,000,000 and in multiples of $1,000,000 if in excess thereof. Floating Rate Advances may be in any amount.

  • Minimum Amount of Each Borrowing The aggregate principal amount of each Borrowing of Loans shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on the same date, but at no time shall there be outstanding more than 15 Borrowings of Euro Rate Loans.

  • Each Advance The obligation of each Lender to make any Loan (other than a conversion of Loans to the other Type or a continuation of Revolver Loans as LIBOR Loans) is subject to the following conditions precedent: (a) Administrative Agent shall have timely received a Loan Notice (or in the case of a Swing Line Loan, a Swing Line Loan Notice) or the applicable L/C Issuer shall have timely received the applicable L/C Agreement; (b) the applicable L/C Issuer shall have received any applicable L/C fee; (c) all of the representations and warranties of the Companies in the Loan Papers are true and correct in all material respects (unless they speak to a specific date or are based on facts which have changed by transactions contemplated or permitted by this Agreement); (d) no Material Adverse Event, Default or Potential Default exists or would result from the proposed funding of such Loans or issuance of L/Cs; and (e) the funding of the Loans or issuance of the L/Cs is permitted by Law. Upon Administrative Agent’s reasonable request, Borrower shall deliver to Administrative Agent evidence substantiating any of the matters in the Loan Papers that are necessary to enable Borrower to qualify for the Loans or L/Cs. Each condition precedent in this Agreement is material to the transactions contemplated by this Agreement, and time is of the essence with respect to each condition precedent. Subject to the prior approval of Required Lenders, Lenders may fund any Loan, and the applicable L/C Issuer may issue any L/C, without all conditions being satisfied, but, to the extent permitted by Law, that funding and issuance shall not be deemed to be a waiver of the requirement that each condition precedent be satisfied as a prerequisite for any subsequent funding or issuance, unless Required Lenders specifically waive each item in writing. Each Loan Notice (other than a Loan Notice requesting only a conversion of Loans to the other Type or a continuation of Revolver Loans as LIBOR Loans), each Swing Line Loan Notice, and each L/C Agreement submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in this Section 7.2 have been satisfied on and as of the date of the applicable Loan or issuance of the applicable L/C. Notwithstanding anything to the contrary set forth in this Section 7.2, Lenders will not be obligated to honor any Loan Notice (including a Loan Notice converting Revolver Loans that are Base Rate Loans to Revolver Loans that are LIBOR Loans or continuing Revolver Loans that are LIBOR Loans) or Swing Line Loan Notice if a Default or Potential Default exists or would result after giving effect to the proposed funding, conversion, or continuation of such Loans or issuance of L/Cs.

  • Minimum Amount of Each Borrowing; Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Loans shall be in a multiple of $100,000 and shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on any date; provided that at no time shall there be outstanding more than four (4) Borrowings of LIBOR Loans under this Agreement.

  • Amount of Borrowing Tranche Each Borrowing Tranche of Loans under the LIBOR Rate Option shall be in integral multiples of $500,000 and not less than $1,000,000; and

  • Amount of Swing Line Loans Upon the satisfaction of the conditions precedent set forth in Section 4.2 and, if such Swing Line Loan is to be made on the date of the initial Credit Extension hereunder, the satisfaction of the conditions precedent set forth in Section 4.1 as well, from and including the Restatement Effective Date and prior to the Facility Termination Date, the Swing Line Lender agrees, on the terms and conditions set forth in this Agreement, to make Swing Line Loans in Dollars to the Borrower from time to time in an aggregate principal amount not to exceed the Swing Line Commitment, provided that (i) the Aggregate Outstanding Credit Exposure shall not at any time exceed the Aggregate Commitment and (ii) at no time shall the sum of (a) the Swing Line Loans then outstanding, plus (b) the outstanding Revolving Loans made by the Swing Line Lender pursuant to Section 2.1 (including its participation in any Facility LCs), exceed the Swing Line Lender’s Commitment at such time. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Swing Line Loans at any time prior to the Facility Termination Date.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Conditions to Each Advance The agreement of Lenders to make any Advance requested to be made on any date (including the initial Advance), is subject to the satisfaction of the following conditions precedent as of the date such Advance is made:

  • Maximum Advances In the case of any type of Advance requested to be made, after giving effect thereto, the aggregate amount of such type of Advance shall not exceed the maximum amount of such type of Advance permitted under this Agreement. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

  • Revolving Advances (a) The Note A-2 Holder hereby agrees to advance to the Mortgage Loan Borrower any Revolving Advance required to be made under Note A-2 and the Mortgage Loan Documents, it being the specific intent of the parties hereto that no other Noteholder shall have any obligation and shall not be liable for making any Revolving Advance. The Note A-2 Holder shall remit each Revolving Advance on the date that such Revolving Advance is required to be made pursuant to the Mortgage Loan Documents and Note A-2. The parties hereto agree that (i) the determination of whether the Mortgage Loan Borrower is entitled to receive any Revolving Advance shall rest solely with the Note A-2 Holder, who shall be responsible for conducting any and all due diligence, loan documentation and pre-funding requirements in connection therewith, and (ii) the Note A-2 Holder shall be solely responsible for funding the Revolving Advance to the Mortgage Loan Borrower following such determination that the Mortgage Loan Borrower is entitled to receive such Revolving Advance under the terms of the Mortgage Loan Agreement. (b) For so long as the Revolving Advance Obligation has not been fully discharged and any Securitization is outstanding, Note A-2 may only be transferred to a transferee: (i) that is a Qualified Institutional Lender, or (ii) if the credit rating of the transferee from any applicable Rating Agency is lower than the credit rating of the Initial Note A-2 Holder, as to which the A-2 Holder has received confirmation in writing from each such Rating Agency that such Transfer will not result in a qualification, downgrade or withdrawal of its then current ratings of the Certificates, which confirmation will not be predicated upon any action by the Mortgage Loan Borrower. In addition, for so long as the Revolving Advance Obligation has not been fully discharged, (i) no Transfer of Note A-2 shall violate the Mortgage Loan Documents and (ii) the transferee shall assume all Revolving Advance Obligations pursuant to an assignment and assumption agreement whereby such transferee agrees to be bound by all provisions applicable to the Note A-2 Holder. (c) The Note A-2 Holder shall indemnify and hold harmless each other Noteholder, any Servicer, the Certificate Administrator and the Trustee (each a “Revolving Advance Indemnified Party”), against any and all losses, claims, damages, costs, expenses (including the fees and disbursements of outside counsel retained by any such person) and liabilities in connection with, arising out of, or as a result of the Note A-2 Holder's failure to satisfy its obligations to make any and all Revolving Advances, including without limitation, (i) any claims made by the Mortgage Loan Borrower or its Affiliates or (ii) any failure of payment by the Mortgage Loan Borrower under the Mortgage Loan, in each case that results from a failure to make any Revolving Advance as required under the Mortgage Loan Documents, except, as to such Future Funding Indemnified Party, to the extent that it is finally judicially determined that any losses, claims, damages, costs, expenses or liabilities resulted primarily from the bad faith or willful misconduct of such Revolving Advance Indemnified Party. Each Revolving Advance Indemnified Party shall be a third party beneficiary of this Agreement with respect to the indemnification obligations of the Note A-2 Holder set forth in this Section 41. In the event that the Note A-2 Holder becomes involved in any action, proceeding or investigation in connection with any transaction or matter referred to or contemplated by this Agreement, the Note A-2 Holder shall promptly reimburse such Revolving Advance Indemnified Party upon demand therefor in an amount equal to its reasonable legal and other expenses (including the costs of any investigation and preparation) incurred in connection therewith to the extent such party is entitled to indemnification for such legal or other costs and expenses hereunder. In addition, the Note A-2 Holder agrees that each Revolving Advance Indemnified Party may deduct and offset any amount to be indemnified hereunder from and against any amount that is due to the Note A-2 Holder under the Servicing Agreement. The indemnification obligations of the Note A-2 Holder hereunder shall survive any termination of the Agreement. Each Revolving Advance Indemnified Party's rights pursuant to this Section 41 are in addition to any other rights a Revolving Advance Indemnified Party may have at law or in equity. (d) The Note A-2 Holder shall provide notice of the making of any Revolving Advance and the amount of such Revolving Advance to each other Noteholder, the Master Servicer, the Special Servicer and the Operating Advisor. (e) The Note A-1-A-1 Holder (or at any time when such Note is included in a Securitization, the Master Servicer) shall maintain a record of each Revolving Advance advanced by the Note A-2 Holder and will increase the Note A-2 Principal Balance by the amount of such Revolving Advance.

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