AVAILABILITY OF CREDIT Sample Clauses

AVAILABILITY OF CREDIT. The credit shall be available to the BENEFICIARY, conditioned to its effective transfer by the National Treasury, in parcels, after the fulfillment of the conditions for utilization referred to in Nineteenth Clause, as follows: I - 50% (fifty percent) until 60 (sixty) days from the date stated in First Clause;
Sample 1
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AVAILABILITY OF CREDIT. The credit shall be made available to BENEFICIARY in installments once the conditions precedent for its use referred to in Clause Fifteen have been fulfilled based on the need for implementing the financed project and observing the financial schedule of BNDES, which is subject to definition of funds for applications by the Brazilian Monetary Council (CMN).
Sample 1
AVAILABILITY OF CREDIT. Each Borrower recognizes that credit available to it hereunder is in excess of and on better terms than it otherwise could obtain on and for its own account and that one of the reasons therefor is its joining in the applicable credit facility contemplated herein with all other Borrowers. Consequently, subject to the terms and conditions of this Agreement, each Borrower hereby assumes, guarantees payment and performance of, and agrees to discharge all Obligations of each of the other Borrowers; provided that, notwithstanding anything herein or in any of the other Loan Documents to the contrary, (i) the Canadian Loan Parties shall be liable only for the Canadian Liabilities and, to the extent permitted by applicable Requirement of Law, the German Liabilities and the UK Liabilities, (ii) the German Loan Parties shall be liable only for the German Liabilities and, to the extent permitted by applicable Requirement of Law, the Canadian Liabilities and the UK Liabilities, and (iii) the UK Loan Parties shall be liable only for the UK Liabilities and, to the extent permitted by applicable Requirement of Law, the German Liabilities and the Canadian Liabilities.
Sample 1
AVAILABILITY OF CREDIT. Subject to the terms and conditions set ---------------------- forth herein, the Banks shall from time to time prior to the Termination Date participate in the issuance by the Agent of Letters of Credit for the account of the Company on the following terms and conditions: (a) at the time of issuance of the Letter of Credit, the unborrowed portion of the Commitments shall equal or exceed the sum of the amount available to be drawn under such Letter of Credit and the amount available to be drawn under, and any unreimbursed draws under, all other Letters of Credit; (b) at the time of issuance of a Letter of Credit, the amount available to be drawn under such Letter of Credit and all other Letters of Credit then outstanding hereunder plus any unreimbursed draws under all other Letters of Credit shall not exceed, in the aggregate, the Letter of Credit Sublimit; (c) the final expiration date of each Letter of Credit shall be on or before the earlier of (i) one year from the date of issuance thereof and (ii) the Termination Date; (d) there shall not exist at the time of issuance of the Letter of Credit, and as a result thereof, any Default or Event of Default; and (e) each Letter of Credit issued under this Section 2A shall be required by the Company in the ordinary course of its business. Upon issuance of each Letter of Credit, each Bank shall have a participation interest therein based on its pro rata share of the Commitment as set forth in Section 1.1(b) of this Agreement.
Sample 1
AVAILABILITY OF CREDIT 
Sample 1

Related to AVAILABILITY OF CREDIT

  • Termination of Credit Facility The Credit Facility shall terminate on the earliest of (a) the third anniversary of the Closing Date (the "Maturity Date"), (b) the date of termination by the Borrower pursuant to Section 2.5(a) and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 10.2(a).

  • Revolving Line of Credit (a) The Bank hereby establishes in favor of the Borrower a revolving line of credit (the “Line of Credit”). The Borrower shall be entitled to borrow, repay and reborrow funds under the Line of Credit in accordance with the terms hereof so long as the total principal amount owed to the Bank under the Line of Credit does not exceed $25,000,000.00 (or such lesser amount as is set forth herein) during the Revolving Period. The Bank’s obligation to make advances hereunder shall terminate at the expiration of the Revolving Period. (b) The Borrower’s indebtedness under the Line of Credit shall be evidenced by a promissory note (as amended, extended or renewed from time to time, the “Line of Credit Note”) of even date herewith executed by the Borrower in favor of the Bank in the original principal amount of $25,000,000.00. The Line of Credit Note shall bear interest at the rate set forth therein and shall be payable as set forth therein. (c) The Bank shall make each advance under the Line of Credit upon written or telephonic notice from the Borrower to the Bank requesting an advance. The notice shall specify the date for which the advance is requested (which must be a Business Day) and the amount of the advance. The Bank must receive the notice prior to 12:00 noon (Eastern time) on the Business Day of the advance. Alternatively, the Borrower may request advances by drawing checks on a deposit account that is linked to the credit facility hereunder in accordance with disbursement arrangements that are mutually satisfactory to the parties. The Bank will make each requested advance available to the Borrower not later than the close of business on the Business Day of the request by crediting the Borrower’s account maintained with the Bank in the amount of the advance if as of such time: (i) the Bank’s obligation to make advances hereunder has not terminated or expired; (ii) a Default or Event of Default has not occurred; and (iii) all conditions to the advance set forth herein or in any other Loan Documents have been satisfied. The Bank may rely upon any written or telephonic notice given by any person that the Bank in good faith believes is an authorized representative of the Borrower without the necessity of any independent investigation. If any telephonic notice conflicts with a written confirmation, the telephonic notice shall govern if the Bank has acted in reliance thereon. (d) For purposes hereof, the term “Revolving Period” shall mean a period commencing on the date hereof and terminating on March 18, 2007.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Application of credit balances Each Creditor Party may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Amount of Credit Any reference herein to the amount of credit outstanding means, at any particular time: (a) in the case of a Canadian Prime Rate Loan or CDOR Loan, the Dollar Equivalent of the principal amount thereof; and (b) in the case of a LIBOR Loan or U.S. Base Rate Loan, the principal amount of such Loan.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Commitments and Credit Extensions 33 Loans ......................................................................................................................33 Borrowings, Conversions and Continuations of Loans .........................................33

  • All Extensions of Credit The obligation of Lenders to make any Credit Extension hereunder (including the initial Credit Extension) is subject to the following additional conditions precedent:

  • Availability of Funds The County may terminate this Agreement or a portion of the services referenced in the Attachments and Exhibits based upon unavailability of Federal, State, or County funds, by providing written notice to Contractor as soon as is reasonably possible after the County learns of said unavailability of outside funding.

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