Common use of Colonial Protective Advances Clause in Contracts

Colonial Protective Advances. Collateral Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, and without regard to the aggregate Colonial Revolver Commitments, to make Base Rate Revolver Loans (“Colonial Protective Advances”) (a) up to an aggregate amount of $1,000,000 outstanding at any time, if Collateral Agent deems such Revolver Loans necessary or desirable to preserve or protect Collateral, or to enhance the collectibility or repayment of Obligations; or (b) to pay any other amounts chargeable to Obligors under any Loan Documents, including costs, fees and expenses. Each Lender shall participate in each Colonial Protective Advance on a Pro Rata basis. Required Lenders may at any time revoke Collateral Agent’s authority to make further Colonial Protective Advances by written notice to Collateral Agent. Absent such revocation, Collateral Agent’s determination that funding of a Colonial Protective Advance is appropriate shall be conclusive.

Colonial Protective Advances. Collateral Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, and without regard to the aggregate Colonial Revolver Commitments, to make Base Rate Revolver Loans (“Colonial Protective Advances”) (a) up to an aggregate amount of $1,000,000 outstanding at any time, if Collateral Agent deems such Revolver Loans necessary or desirable to preserve or protect Collateral, or to enhance the collectibility collectability or repayment of ObligationsObligations as long as such Colonial Revolver Loans do not cause Colonial Revolver Usage to exceed the aggregate Colonial Revolver Commitments; or (b) to pay any other amounts chargeable to Obligors under any Loan Documents, including interest, costs, fees and expenses. Each Lender Xxxxxxx shall participate in each Colonial Protective Advance on a Pro Rata basisbasis in Colonial Protective Advances outstanding from time to time. Required Lenders may at any time revoke Collateral Agent’s authority to make further Colonial Protective Advances by written notice to Collateral Agent. Absent such revocation, Collateral Agent’s determination that funding of a Colonial Protective Advance is appropriate shall be conclusive.

Colonial Protective Advances. Collateral Agent shall be authorized, in its discretion, at any time that any conditions in Section 6 are not satisfied, and without regard to the aggregate Colonial Revolver Commitments, to make Base Rate Revolver Loans (“Colonial Protective Advances”) (a) up to an aggregate amount of $1,000,000 outstanding at any time, if Collateral Agent deems such Revolver Loans necessary or desirable to preserve or protect Collateral, or to enhance the collectibility collectability or repayment of ObligationsObligations as long as such Colonial Revolver Loans do not cause Colonial Revolver Usage to exceed the aggregate Colonial Revolver Commitments; or (b) to pay any other amounts chargeable to Obligors under any Loan Documents, including interest, costs, fees and expenses. Each Lender Lenders shall participate in each Colonial Protective Advance on a Pro Rata basisbasis in Colonial Protective Advances outstanding from time to time. Required Lenders may at any time revoke Collateral Agent’s authority to make further Colonial Protective Advances by written notice to Collateral Agent. Absent such revocation, Collateral Agent’s determination that funding of a Colonial Protective Advance is appropriate shall be conclusive.