Commitment Overadvance Clause Samples
The Commitment Overadvance clause defines the lender's ability to advance funds to the borrower in excess of the established credit limit or borrowing base. In practice, this clause allows the lender, at its discretion, to temporarily provide additional funds beyond the agreed maximum, often to address short-term liquidity needs or unforeseen expenses. Its core function is to offer flexibility in lending arrangements, ensuring the borrower can access necessary funds in exceptional circumstances while clarifying that such advances are not a permanent increase to the credit facility.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the aggregate amount of the Commitments, the Borrower shall immediately upon demand pay to the Administrative Agent for the account of the Lenders the amount of such excess.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Revolving Loans, Swingline Loans and Bid Rate Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the aggregate amount of the Commitments, the Borrower shall immediately upon demand pay to the Administrative Agent for the account of the Lenders then holding Commitments (or if the Commitments have been terminated, then holding outstanding Revolving Loans, Swingline Loans, Bid Rate Loans and/or Letter of Credit Liabilities), the amount of such excess.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Revolving Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the aggregate amount of the Revolving Commitments, the Borrower shall immediately pay to the Administrative Agent for the account of the Revolving Lenders the amount of such excess. Such payment shall be applied to pay the principal outstanding on the Revolving Loans, and any unpaid Reimbursement Obligations pro rata in accordance with Section 3.2 and if any Letters of Credit are outstanding at such time the remainder, if any, shall be deposited into the Letter of Credit Collateral Account for application to any Reimbursement Obligations as and when due.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Advances exceeds the Commitment Amount, Borrower shall immediately upon demand pay to Lender the amount of such excess.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the aggregate amount of the Commitments, the Borrower shall immediately upon demand pay to the Agent for the account of the Lenders, the amount of such excess.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Advances, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the aggregate amount of the Commitments, the Borrower shall no later than 2 days following the Agent's demand, pay to the Agent for the account of the Lenders, the amount of such excess.
Commitment Overadvance. If at any time the aggregate amount of Revolving Loan Exposure exceeds the aggregate amount of the Revolving Loan Commitments, the Borrowers shall within two (2) Business Days after demand pay to the Agent for the account of the Revolving Lenders the amount of such excess.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all L/C Obligations, exceeds the aggregate amount of the Commitments, Borrower shall within three (3) Business Days after demand pay to Administrative Agent for the account of the Lenders the amount of such excess.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the aggregate amount of the Revolving Commitments, the Borrower shall immediately pay to the Administrative Agent for the account of the Revolving Lenders the amount of such excess. Such payment shall be applied to pay the principal outstanding on the Revolving Loans, Swingline Loans and any unpaid Reimbursement Obligations pro rata in accordance with Section 3.2. and if any Letters of Credit are outstanding at such time the remainder, if any, shall be deposited into the Letter of Credit Collateral Account for application to any Reimbursement Obligations as and when due.
Commitment Overadvance. If at any time the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the aggregate amount of the Commitments, the Borrower shall immediately upon demand pay to the Administrative Agent for the account of the Lenders then holding Commitments (or if the Commitments have been terminated, then holding outstanding Revolving Loans, Swingline Loans and/or Letter of Credit Liabilities), the amount of such excess. All payments under this subsection (b)(i) shall be applied in accordance with the last sentence of Section 3.2.