Common use of Bid Rate Facility Overadvance Clause in Contracts

Bid Rate Facility Overadvance. If at any time the aggregate principal amount of all outstanding Bid Rate Loans exceeds fifty percent (50%) of the aggregate amount of all Revolving Commitments at such time, then the Borrower shall, within two (2) Business Days of demand, pay to the Administrative Agent, for the accounts of the applicable Lenders, the amount of such excess.

Appears in 3 contracts

Samples: Credit Agreement (Equity One, Inc.), Credit Agreement (Equity One, Inc.), Credit Agreement (Equity One, Inc.)

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Bid Rate Facility Overadvance. If at any time the aggregate principal amount of all outstanding Bid Rate Loans exceeds fifty percent (50%) one-half of the aggregate amount of all Revolving Commitments at such time, then the Borrower shall, shall within two (2) 1 Business Days Day of demand, demand pay to the Administrative Agent, Agent for the accounts of the applicable Lenders, Lenders the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (Bre Properties Inc /Md/)

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