Amounts and Terms of the Advances and Letter of Credit Sample Clauses

Amounts and Terms of the Advances and Letter of Credit. SECTION 1. 021 The Advances. (a) Upon the terms and subject to the conditions set forth in this Agreement, the Banks agree, severally on the basis of their respective Percentage Interests but not jointly, to make Advances as follows: (i) in respect of Facility A, subject to the terms of Section 2.07(b)(ii), in a maximum amount not to exceed at any time outstanding such Bank's Aggregate Amount in respect of Facility A, and provided further that any request for an advance under Facility A shall be in an aggregate amount not less than $500,000 and an integral multiple of $100,000 if in excess thereof; (ii) in respect of Facility B, in an aggregate amount not to exceed at any time outstanding such Bank's Aggregate Amount in respect of Facility B; and (iii) in respect of Facility F, in an aggregate amount not to exceed at any time outstanding such Bank's Aggregate Amount in respect of Facility F; PROVIDED HOWEVER, that amounts advanced under this Facility F are restricted to Acquisitions which do not exceed: (A) the lesser of either (x) one hundred percent (100%) of the purchase price or appraised value (whichever is less) of the Acquisition being acquired or (y) a multiple of six times the EBITDA of the Acquisition if the sum of the undrawn Commitment (excluding Facility F) all Advances and Letters of Credit is less than 65% of the Pledged Collateral; or (B)the lesser of either (x) sixty five percent (65%) of the purchase price or appraised value (whichever is less) of the Acquisition being acquired, or (y) a multiple of six times EBITDA of the Acquisition if the sum of the undrawn Commitment (excluding Facility F) all Advances and Letters of Credit is equal to or greater than 65% of the Pledged Collateral . (b) The total amount to be made available by each Bank as part of an Advance for a Facility shall never exceed the Commitment of such Bank for such Facility, and shall be proportionate always to such Bank's Percentage Interest. The Banks are obligated to make Advances pursuant to this Agreement until the relevant Commitment Termination Date. The obligation of the Borrowers to repay each Advance shall be evidenced by this Agreement and in the case of Facility A, Facility B, and Facility F, the Notes. In respect of each Advance to the Borrowers under Facility A, Facility B, and Facility F, the Borrowers shall issue in favor of each Bank a Note in respect of each of such Facilities. (c) The failure of any Bank to advance its Commitment in respect of any Advan...
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Amounts and Terms of the Advances and Letter of Credit 
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Related to Amounts and Terms of the Advances and Letter of Credit

  • Amounts and Terms of the Advances and Letters of Credit SECTION 2.01. The Advances and Letters of Credit.

  • AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT SECTION 2.01. The Advances and the Letters of Credit.

  • Amounts and Terms of the Advances SECTION 2.01. The A Advances. (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make A Advances to the Borrower from time to time on any Business Day during the period from the Closing until the Termination Date in an aggregate outstanding amount not to exceed at any time such Lender's Available Commitment, provided that the aggregate amount of the Commitments of the Lenders shall be deemed used from time to time to the extent of the aggregate amount of the B Advances then outstanding and such deemed use of the aggregate amount of the Commitments shall be applied to the Lenders ratably according to their respective Percentages (such deemed use of the aggregate amount of the Commitments being a "B Reduction"). Each A Borrowing shall be in an aggregate amount not less than $10,000,000 (or, if lower, the amount of the Available Commitments) or an integral multiple of $1,000,000 in excess thereof and shall consist of A Advances of the same Type made on the same day by the Lenders ratably according to their respective Percentages. Within the limits of each Lender's Commitment and as hereinabove and hereinafter provided, the Borrower may request Extensions of Credit hereunder, and repay or prepay Advances pursuant to Section 2.11 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof. (b) In no event shall the Borrower be entitled to request or receive any Extensions of Credit that would cause the principal amount outstanding hereunder to exceed the Commitments.

  • Amounts and Terms of the Loans 33 2.1. The Revolving Credit Loans............................................................................ 33 2.2. Making the Loans...................................................................................... 33 2.3. Fees ................................................................................................ 35 2.4. Reduction and Termination of the Commitments.......................................................... 36 2.5. Repayment............................................................................................. 36 2.6. Prepayments........................................................................................... 37 2.7. Conversion/Continuation Option........................................................................ 38 2.8. Interest.............................................................................................. 39 2.9. Interest Rate Determination and Protection............................................................ 40 2.10.

  • Amount and Terms of Credit 1.1 Credit Facilities.

  • Amounts and Terms of Loans 2 1.1 Loans...........................................................................................2 1.2

  • Amount and Terms of the Credit Facility 2.1. The Commitments; Increase in Total Commitments. (a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans to the Borrower from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding that will not result in such Lender's Exposure exceeding such Lender's Commitment. During the Commitment Period the Borrower may use the Commitments by borrowing, prepaying the Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. Notwithstanding anything to the contrary in this Agreement, in no event may Loans be borrowed under this Section 2 if, after giving effect thereto, the aggregate principal amount of the Total Exposures at such time would exceed the Total Commitments then in effect. The Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.6. (b) In the event that the Borrower wishes from time to time to increase the Total Commitments, it shall notify the Administrative Agent in writing of the amount (the "Commitment Increase Amount") of such proposed increase (such notice, a "Commitment Increase Notice"), and the Administrative Agent shall notify each Lender of such proposed increase. The Borrower may, at its election (i) offer one or more of the Lenders the opportunity to participate in all or a portion of the Commitment Increase Amount pursuant to paragraph (d) below and/or (ii) with the consent of the Administrative Agent and the Issuing Lender (which consent shall not be unreasonably withheld or delayed), offer one or more additional banks, financial institutions or other entities the opportunity to participate in all or a portion of the Commitment Increase Amount pursuant to paragraph (c) below. Each Commitment Increase Notice shall specify which Lenders and/or banks, financial institutions or other entities the Borrower desires to participate in such Commitment increase. The Borrower or, if requested by the Borrower, the Administrative Agent, will notify such Lenders and/or banks, financial institutions or other entities of such offer. Each Commitment Increase Amount shall be at least $50,000,000. (c) Any additional bank, financial institution or other entity which the Borrower selects to offer participation in the increased Commitments and which elects to become a party to this Agreement and provide a Commitment in an amount so offered and accepted by it pursuant to Section 2.1(b)

  • Amount and Terms of the Loans 2.1 Commitments 25 2.2 Borrowings 26 2.3 Disbursements; Funding Reliance; Domicile of Loans 29 2.4 Evidence of Debt; Notes 30

  • Amount and Terms of the Loan The Loan. Subject to the terms of this Agreement, each Purchaser agrees to lend to the Company at the Closing (as hereinafter defined) the amount set forth opposite such Purchaser’s name on the Schedule of Purchasers attached to this Agreement (each, a “Loan Amount”) against the issuance and delivery by the Company of a convertible promissory note for such amount, in substantially the form attached hereto as Exhibit A (each, a “Note” and collectively, the “Notes”).

  • Amount and Terms of the Commitments Section 2.1. General Description of Facilities

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